Market is slow ahead of Powell speech today, when we will get more decisions about their policy rates. For now, the risk-on is still on the table after China announced that they will allow close contacts of Covid cases to quarantine at home. They also said that they will strengthen vaccinations which sounds positive. AUD CPI data came lower y/y, at 6.9% from 7.6% expected. Inflation is coming down, which means that RBA can be less hawkish but AUDUSD pair was still able to hold the support within a triangle. We see a-b-c-d-e subwaves in wave 4 so be aware of a break higher into wave 5. Rise above 0.68 can call 0.69. A drop below 0.6640 can cause a deeper pullback to 0.6550.
BLACK FRIDAY Monthly 50% Off Lifetime Crypto, FX and major Global Markets. Apply here.
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
GBP/USD battles 1.2300 ahead of BoE interest rate decision
GBP/USD is battling 1.2300, refreshing a five-month low.in European trading on Thursday. The pair is weighed by the Fed's hawkish stance and increased odds of a BoE rate hike pause, following a surprise fall in UK inflation and SNB's unexpected rates-on-hold decision.
EUR/USD keeps losses below 1.0650 amid firmer US Dollar
EUR/USD is trading close to weekly lows below 1.0650 in the early European morning on Thursday. The Fed, as expected, kept rates unchanged but indicated that one more rate hike before the year-end could be appropriate. US yields surges to multi-year highs, driving the US Dollar higher.
Gold remains steady around $1,930, focus on US data
Gold price hovers around $1,930 during the early trading hours of the European session on Thursday. Investors seem to shift their focus on upcoming US data after the US Federal Reserve's decision on policy rates.
Solana price sustains recovery rally despite falling daily active addresses
Sol shows strong bullish momentum, which has seen the ETH killer break out from a descending parallel channel. The daily active addresses on-chain metric fails to mirror this optimism.
SNB unexpectedly leaves Deposit Rate unchanged at 1.75%
At its quarterly monetary policy assessment on September 21, the SNB kept the benchmark Sight Deposit Rate on hold at 1.75%. The rate decision was against the market expectations of a 25 basis points (bps) rate hike to 2.0%.