AUD/USD gathers momentum for a breakdown below 0.6400

AUD/USD gathers momentum for a breakdown below 0.6400

The AUD/USD pair is displaying back-and-forth moves in a narrow range of 0.6400-0.6422 in the Tokyo session. The asset has turned sideways after a perpendicular fall from 0.6540 as the market sentiment turned extremely sour on geopolitical tensions.

AUD/USD News

Yohay Elam
Valeria Bednarik

Has the US labor market started to loosen up in September?

Nonfarm Payrolls (NFP) in the US are expected to rise by 250,000 in September following August's increase of 315,000. Our experts will analyze the market reaction to the event from 12:00 GMT. Join us here!

EUR/USD: Price balancing on a tightrope over the abyss ahead of NFP

EUR/USD: Price balancing on a tightrope over the abyss ahead of NFP

EUR/USD was sold off on Thursday as investors get set for the outcome of Friday's key US event in Nonfarm Payrolls. US yields and the US dollar both rallied as investors dial back the sentiment surrounding a picot from the Federal Reserve.

EUR/USD News

Gold oscillates at a make or break around $1,710.00, US NFP eyed

Gold oscillates at a make or break around $1,710.00, US NFP eyed

Gold price has slipped modestly after facing barricades of around $1,715.00 in the Tokyo session. The precious metal is expected to slip further to near $1,700.00 as yields are hovering at elevated levels amid hawkish commentaries from Fed.

Gold News

BNB drops by 4% as Binance confirms potential $586 million exploit on BNB Chain

BNB drops by 4% as Binance confirms potential $586 million exploit on BNB Chain

The world’s largest cryptocurrency exchange is observing an attack on its token chain and cryptocurrency. In response, Binance Coin’s price began falling on the charts making the investors highly concerned. Binance Coin has dropped by almost 4% since the opening hours.

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Nonfarm Payrolls Preview: Five scenarios for trading King Dollar as markets plead for pain Premium

Nonfarm Payrolls Preview: Five scenarios for trading King Dollar as markets plead for pain

No pain, no gain – this gym idiom resonates with stock bulls. The Federal Reserve has said it is willing to accept – and even wants to see – economic pain to see inflation falling. Last month was painful in financial markets, but did American employment also feel the pinch?

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DEEPER DIVE

Alphabet (GOOGL) Stock Deep Dive: SELL with a $75 price target as advertising cutbacks to hurt revenue

Alphabet (GOOGL) Stock Deep Dive: SELL with a $75 price target as advertising cutbacks to hurt revenue

I am sure we are no doubt all aware of Alphabet, but just in case some of you are die-hard Brave or Edge fans, here's a little teaser.

Why global markets haven’t seen their troughs yet?

Why global markets haven’t seen their troughs yet?

The Chinese culture says that one picture is worth a thousand words, and the exhibition below from the analysis of Goldman Sachs shows us all the drops in the U.S market, as well as their comebacks.

What does the global energy crisis mean for metal prices?

What does the global energy crisis mean for metal prices?

It’s official: The world is in the middle of its first ever Global Energy Crisis. In the Seventies, we had an Oil Crisis – but now we have an Oil Crisis, a Natural Gas Crisis, a Coal Crisis and an Electricity Crisis all at once.

FXS Signals

Technical Confluences Detector

Gold bulls target $1,735 as focus shifts to US NFP

Gold bulls target $1,735 as focus shifts to US NFP

Gold price is finding fresh demand in Thursday’s trading so far, reverting towards three-week highs amid a broadly subdued US dollar and lackluster performance in the Treasury yields.

Gold Price: Key levels to watch

The Technical Confluence Detector shows that the gold price is yearning for acceptance above the convergence of the SMA50 one-day and pivot point one-month R1 at $1,724.

The previous day’s high of $1,728 will test bulls’ immediate upside, above which the pivot point one-day R1 at $1,730 needs to be cleared to kickstart a fresh rally towards the previous month’s high of $1,735.

On the flip side, bulls will draw support from the Fibonacci 61.8% one-day at $1,718, below which sellers will target the previous low four-hour at $1,715.

The confluence of the Fibonacci 38.2% one-day and pivot point one-week R2 at $1,712 will be a tough nut to crack for XAU bears.

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CRYPTOCURRENCIES

BNB drops by 4% as Binance confirms potential $586 million exploit on BNB Chain

BNB drops by 4% as Binance confirms potential $586 million exploit on BNB Chain

The world’s largest cryptocurrency exchange is observing an attack on its token chain and cryptocurrency. In response, Binance Coin’s price began falling on the charts making the investors highly concerned.

More Binance Coin news

Why the MATIC price could fall toward $0.60 in October

Why the MATIC price could fall toward $0.60 in October

MATIC price has rallied 20% since the middle of September. Polygon price faces significant resistance near the upper bounds of a descending trend channel. Invalidation of the bearish thesis is a breach above $1.05.

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XRP price is setting up for a sharp decline toward $0.40, here's why

XRP price is setting up for a sharp decline toward $0.40, here's why

XRP price could witness a sell-off into the mid $0.40 levels if the bulls hurdle through the $0.50 barrier. XRP's failure to maintain momentum over the $0.50 threshold may result in Ripples' demise. Invalidation of the bearish thesis is a breach above $0.51.

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MakerDAO allocates $500 million in DAI toward US Treasuries and Corporate Bonds

MakerDAO allocates $500 million in DAI toward US Treasuries and Corporate Bonds

Partnering with Monetalis, MakerDAO will be using its stablecoin reserves to invest in US Treasuries and corporate bonds. $1 million has been set for the pilot transaction, following which the debt ceiling will rise to $250 million and $500 million.

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THE STOCK OF THE DAY

COST falls despite sales growth for September

COST falls despite sales growth for September

Costco continues to search for a definitive direction after it reported earnings a couple of weeks ago. COST stock gapped lower on the earnings but has since recovered and largely traded sideways since. Investors are grappling with some margin issues as well as the overall negative climate affecting equities. COST closed out Wednesday at $480.32 for a loss of just over 1%.

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WEEKLY FORECAST

EUR/USD: Corrective advance may continue, but the EUR is doomed Premium

EUR/USD: Corrective advance may continue, but the EUR is doomed

Massive quantitative tightening does little to bring inflation down. Europe's green energy plan backfires as Russia continues to reduce supplies. EUR/USD corrective advance losses steam as economic turmoil remains the same.

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GBP/USD: Pound's fate depends on market confidence in UK government Premium

GBP/USD: Pound's fate depends on market confidence in UK government

GBP/USD ended up posting weekly gains despite Monday's massive sterling selloff. BoE had to step in following the market reaction to the UK's controversial mini-budget. The pair needs to flip 1.1300 into support to extend its rebound.  

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Gold: XAU/USD eyes $1,700 as next recovery target Premium

Gold: XAU/USD eyes $1,700 as next recovery target

Gold capitalized on the pullback witnessed in global bond yields. XAU/USD could gather bullish momentum if it manages to clear $1,680. ISM PMI surveys and September jobs report will be featured in the US economic docket.

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Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin price has developed a bullish divergence with RSI, hinting at more upside. Despite the optimistic technicals, investors should expect volatile swings before the end of the third quarter of 2022. 

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Euro eyes Italian elections and flash CPI, dollar may take a backseat

Euro eyes Italian elections and flash CPI, dollar may take a backseat

With the Fed meeting out of the way, a quieter week is on the horizon, barring of course any flare up of tensions between Russia and Ukraine. Either way, the spotlight will probably fall on the euro as far-right parties are expected to gain ground in Italy’s parliamentary election on Sunday.

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Week ahead – RBA and RBNZ to weigh 50-bps hikes but NFP report to set the mood

Week ahead – RBA and RBNZ to weigh 50-bps hikes but NFP report to set the mood

The antipodean central banks will kick off the new month with their October policy decisions, but the latest jobs report out of the US could steal the limelight amid the never-ending anticipation of when the Fed will reach peak hawkishness. 

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