Forex Today: Asia cheers Trump’s comments on trade, all eyes on US CPI

Forex today cheered the risk-on market environment fuelled by the Trump’s comments on trade and Fed policy that boosted the odds of a trade deal between the US and China.

RECOMMENDED

GBP/USD News

EUR/USD may defend key support on the rising odds of US-China trade deal

The EUR/USD pair may defend the support of the trendline connecting the Nov. 13 and Nov. 28 lows for the second day on the back of risk-on action in the equities.

EUR/USD News

US CPI Preview: Inflation to decline, core rate stable

Overall inflation in the United States is expected to drop to 2.2% annually in November from 2.5% in the previous month as the sharp decline in crude oilprices work their way into consumption and production.

Read full report

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: The Crypto universe accepts the rules of the market

Tense calm on the Crypto board in the face of permanent vision of the abyss. Constant changes are seen at the front of a market that loses strength quickly.

Read more

Bitcoin clinches to $3,300 amid traders exodus

Bitcoin is sidelined marginally above $3,300 handle which serves as local support that separates the price from the recent low of $3,211. Bearish sentiments continue to dominate the market and shape the trend for the digital coin No.1 both on the spot and on the futures market. The Cboe Global Markets December contract finished Tuesday...

More Bitcoin News

Ripple adds another financial institution to its ever-growing list using its technology

Currencies Direct Ltd a UK-based foreign exchange broker and international payment provider, are another organisation to utilize Ripple’s technology. They are set to open a new real-time cross-border remittance corridor to India, leveraging Ripple's xCurrent.

More Ripple News

Bitcoin Cash Technical Analysis: BCH/USD within the fast highway to hell as bears tear apart $100

Bitcoin Cash price nursing deep losses on Tuesday, trading down over 6%. BCH/USD moving within a very steep descending channel to the south. Bears looking to really go in for the kill with the price below $100. 

More Bitcoin News

Ethereum Technical Analysis: ETH/USD moving within a bearish pennant structure

Ethereum price hard hit on Tuesday, nursing losses of just shy 3% towards latter stages of session.  ETH/USD is moving within a bearish pennant structure, subject to an extended move south. Bears are currently flirting with lower support of the mentioned pennant pattern. 

More Ethereum News

EUR/USD Forecast: More downside below 1.1300 mark, US CPI eyed ahead of ECB on Thursday

Risk appetite returns on trade hopes

Intra-Day Market Moving News and Views -USD/JPY

Risk appetite returns on trade hopes

Valeria Bednarik

Slow economic growth still the main drag for the common currency

The EUR/USD pair seesawed between gains and losses throughout the week, finishing it up around the 1.1400 level. For a sixth consecutive week, the pair has been unable to find a certain direction, trapped between a more dovish Fed and slowing growth and political turmoil in the EU.



Yohay Elam

GBP/USD is taking a break from the big downfall that it suffered after UK PM Theresa May decided to postpone the vote on the Brexit deal. What's next? The higher volatility implies a broader range of movement.

The Technical Confluences Indicator shows that cable is capped by uptrend resistance at around 1.2589 where we see the convergence of the Pivot Point one-month Support 1, the Simple Moving Average 5-4h, the Bollinger Band 1h-Middle, and the BB 15m-Upper.

The next cap is significantly higher, at 1.2660 where we see the confluence of the Fibonacci 61.8% one-day, the Pivot Point one-month Support 1, the SMA 10-4h, and last week's low.

Looking down, the pair has some weak support at around 1.2506 which was yesterday's low.

Read Full Report

Forex Foundation Video Course

New to Forex or want a refresher course in the key concepts? Learn from Seasoned Traders with our new video course in collaboration with the Online Trading Academy. These lessons will get you off to a fast start! And they are free.

Watch now

NEXT LIVE SHOWS

Date Event Title Sponsor More Info
Premium 10 Trading Truths: Myths, Realities and How to Improve Walter Peters Event Details
Premium Fibonacci Trading Methods Nenad Kerkez Event Details
Premium US Pre-Market Open Ed Ponsi, CMT, CTA Event Details
Premium US Session Open Ed Ponsi, CMT, CTA Event Details