Ming Jong Tey
Independent Analyst
Datadog (DDOG) is about to complete the Wyckoff accumulation structure pending a breakout of the backup action trading range. Find out how to trade the breakout in DDOG for position trading. Watch the video below:
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Editors’ Picks
EUR/USD stays defensive below 1.1600, awaits Fed commentary, US House vote
EUR/USD stays defensive below 1.1600 in European trading on Wednesday. The pair trades listlessly amid subdued action in the FX space as markets await the US House vote on the stopgap funding bill to end the record government shutdown. Meanwhile, central bank talks will be eyed.
GBP/USD turns south toward 1.3100 as US Dollar recovers ahead of House vote
GBP/USD is turning south toward 1.3100 in the European session on Wednesday, snapping its recovery. The US Dollar rebounds, shrugging off risk appetite, in anticipation of the US government reopening. Fedspeak and the US House vote on the funding bill are awaited.
Japanese Yen seems vulnerable as Takaichi's comments add to BoJ rate hike uncertainty
The Japanese Yen maintains its offered tone through the early European session on Wednesday and currently trades near its lowest level since February 12 against a firmer US Dollar. Comments from Japan's Prime Minister Sanae Takaichi earlier today underscored her preference for keeping interest rates low to support a fragile recovery.
Editors’ Picks
EUR/USD stays defensive below 1.1600, awaits Fed commentary, US House vote
EUR/USD stays defensive below 1.1600 in European trading on Wednesday. The pair trades listlessly amid subdued action in the FX space as markets await the US House vote on the stopgap funding bill to end the record government shutdown. Meanwhile, central bank talks will be eyed.
GBP/USD turns south toward 1.3100 as US Dollar recovers ahead of House vote
GBP/USD is turning south toward 1.3100 in the European session on Wednesday, snapping its recovery. The US Dollar rebounds, shrugging off risk appetite, in anticipation of the US government reopening. Fedspeak and the US House vote on the funding bill are awaited.
Gold rebounds from sub-$4,100 levels, down a little below three-week high amid firmer USD
Gold reverses an intraday dip to sub-$4,100 levels and trades with a mild negative bias just below a three-week top during the early part of the European session on Wednesday. A positive development towards reopening the US government remains supportive of the risk-on mood and acts as a headwind for the safe-haven precious metal.
Chainlink outlook improves as staking rewards and whale activity strengthen network demand
Chainlink price steadies around $15.35 on Wednesday after finding strong support near the lower trendline last week, signaling renewed buying interest. The launch of Chainlink Rewards Season 1 could boost network engagement and token participation, potentially driving higher demand.
Is the UK an economic outlier?
UK labour market data for the three months to September was weak, and the signs also point to weakness for October. The number of people on the payroll is falling, and the unemployment rate rose in Q3 to a pandemic high.
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