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Summary
In today’s session John explains the use of Point and Figure charts for Scalp trading combining this with the use of Bollinger Bands. During this session Jeff covers how following the same strategy they share in their sessions consistently has achieved successful results over time (based on Simulated testing of the strategy).
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AUD/USD slides nearly 1% to test the 0.7000 handle
AUD/USD fell about 1% on Thursday, wrapping the day up near the 0.7010 level after testing below the key 0.7000 handle intraday. The pair has now pulled back sharply from Tuesday's bounce, with two consecutive bearish sessions erasing most of the week's early gains. Price continues to chop within the roughly 150-pip consolidation band between 0.7000 and the year-to-date high close to 0.7150 that has defined the range since early February.
USD/JPY: Japanese Yen inches higher despite BoJ policy uncertainty
USD/JPY edges lower after posting modest gains in the previous session, trading around 157.40 during the Asian hours on Friday. However, the pair’s downside may remain limited as the Japanese Yen faces pressure from Japan’s ongoing economic challenges, including subdued growth and elevated inflation driven by external risks.
Gold slumps below $5,100 as US Dollar gains
Gold price tumbles to near $5,085 during the early Asian session on Friday. The precious metal loses ground amid a stronger US Dollar. The US employment report for February will take center stage later on Friday.
NYSE parent Intercontinental Exchange partners with OKX, invests at a $25B valuation
OKX announced an investment from Intercontinental Exchange, raising its valuation to $25 billion, alongside a partnership to expand regulated crypto futures and tokenized equity offerings globally.
Two PMIs, two Chinas Premium
China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.
Here is what you need to know for Friday, March 6:
The US Dollar (USD) is being supported by crude oil prices, which rose to its highest level since July 2024, amid headlines of potential interruptions to the Strait of Hormuz and attacks on vessels in the region.