USD/JPY takes out 160.23 buy stops [Video]

Dale J Pinkert Independent Analyst

In today’s TradeGATEHub Live Trading session, Coach Dale discusses the USDJPY surpassing the 160.23 buy stops, exploring the potential for a StopHunt in this currency pair. He also analyzes yesterday’s USDCAD test of the 1.36 level. Additionally, Dale assesses the broader market dynamics, noting the Dow’s failure to reach new highs alongside other indices as previously forecasted, and predicts that the recent bounce in Nvidia (NVDA) is likely to falter. This session provides critical insights into currency and stock market movements, helping traders navigate the volatile landscape.

Author

Dale J Pinkert

Independent Analyst

Former Member of the Chicago Mercantile Exchange (IOM Division), Dale's market forecasts have been aired on Financial Television and Radio station including CNBC.

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.