Volkov Yuriy Posted June 7 Share Posted June 7 FreshForex - Forget other brokers Tired of buzzwords and long texts about forex brokers? Below you will find only facts and figures that will help you make a choice in favor of FreshForex: For more than 19 years we have been helping every trader to trade on the Forex market More than 270 instruments for profitable trading, including currency pairs, CFD contracts: on precious metals, energy, indices, cryptocurrencies, corporate stocks, exchange-traded investment funds. 1:2000 - maximum leverage for trading 0.1 seconds - the fastest execution of trades on the market 300% - that's how much we give to traders for each account replenishment $20 you can get back from each lot of unsuccessful trades $2,500 - the maximum payout amount we offer to our clients in case of a stop-out. $30 from each lot - you won't find a better affiliate program offer. Account replenishment in various ways - cards, cryptocurrencies, e-wallets Analytical and news content on our website 24/5 - our support service is at your disposal We do not stand still and, perhaps, we have already offered traders something new. You can always see the latest information on our website. Stop doubting your choice - open an account with our company FreshForex and these figures will work for you. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 7 Author Share Posted June 7 WHAT ARE FRESHFOREX TRADERS PROFITING FROM? This week, the financial news market is buzzing with mixed events. Oil prices continue to fall, while American stocks are delighting investors with unexpected rises. FreshForex traders have quickly capitalized on these events to make profits. Let's take a closer look at what’s happening and why. Black gold is getting cheaper At the beginning of this week, oil prices fell again, causing concern among investors. Market volatility is increasing due to fears about future demand and a possible easing of production restrictions by OPEC+ by the end of the year. Brent crude oil fell below $77 per barrel on Tuesday! Oil prices declined following decisions made by OPEC+ at their June 2 meeting. The organization announced a gradual lifting of oil production restrictions, affecting market sentiment. Moreover, disappointing figures from the US manufacturing PMI (ISM) also played a role: at the end of May, the index dropped below 50 points to 48.7, indicating a decline in the sector. The rise in borrowing costs, limited investments, and increased raw material costs are challenging American industry. Experts are divided: Goldman Sachs sees potentially negative consequences for the market from OPEC+'s decision, while UBS and RBC analysts believe that the cartel will manage the market flexibly, gradually easing restrictions. Rises in the US stock market Meanwhile, optimism reigns in the US stock market. The price of tech giant Apple (#Apple) exceeded a 5-month high, surprising Wall Street once again. The company’s profits surpassed expectations, causing a buzz among investors that continues to this day. Microsoft (#Microsoft) shares continue to rise. Microsoft is developing and training its own AI model, MAI-1, which could compete with models from Google, Anthropic, and even OpenAI, according to a Yahoo report. The company's first-quarter revenues were supported by high demand for AI products. Micron (#Micron) shares are soaring. The company is poised to become one of the largest beneficiaries of AI demand in the chip industry. Micron announced strong quarterly results and an optimistic earnings forecast for the current quarter. Once again, GameStop Corp (#GameStop) became sensational news. As we mentioned earlier, the company’s shares soared following new content from popular YouTube streamer Keith Gill, known as Roaring Kitty. In a recent Reddit post, Gill shared a screenshot of his investment portfolio, which included a significant holding of GameStop shares and call options. This information sparked another explosive interest in the stock, doubling its price to $47 on the New York Stock Exchange (NYSE) on Monday, June 3. We already mentioned GameStop in May, so for our regular readers and active traders, the latest surge was no surprise. Boldly join the world of financial opportunities and start earning today. Our 101% protective bonus on deposits will give you more confidence in your trades! Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 7 Author Share Posted June 7 Fundamental Market Analysis for June 07, 2024 USDJPY An event to look out for today: 15:30 GMT+3. USD - Change in the number of employed in the non-agricultural sector USDJPY: The Japanese Yen (JPY) is under pressure, the reason could be due to information about the decline in Japan's foreign exchange reserves released by the Ministry of Finance for May. Foreign exchange reserves fell significantly to $1,231 billion in May from $1,279 billion, the lowest since February 2023, as the government conducted currency intervention operations to defend the Japanese yen. Japan's Finance Minister Shunichi Suzuki said Friday he would take measures against excessive currency volatility if necessary and evaluate the effectiveness of the interventions. Suzuki emphasized the importance of maintaining market confidence in public finances, noting that there is no limit on funds for currency intervention, Reuters reported. The US dollar (USD) struggled as a drop in United States (US) jobs data fueled hopes of two interest rate cuts by the US Federal Reserve (Fed) in 2024. A Reuters poll conducted between May 31 and June 5 showed that nearly two-thirds of economists now predict an interest rate cut in September. In addition, according to CME FedWatch Tool data, the probability of a Fed rate cut of at least 25 basis points in September rose to nearly 70.0%, up from 51.0% a week earlier. Trading recommendation: Trade mainly with buy orders at the price level of 155.70. We consider sell orders at the price level of 155.00. FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 10 Author Share Posted June 10 Fundamental Market Analysis for June 10, 2024 EURUSD EURUSD: The EUR/USD exchange rate remained under pressure for the second consecutive day, falling to a three-week low during the Asian session on Monday. Spot prices are currently trading around 1.0775, indicating continued vulnerability to breakout momentum following the NFP publication. The closely watched monthly employment report from the US Department of Labor showed that the US economy added 272,000 jobs in May, compared to an expected 185,000 and an upwardly revised 175,000 in the previous month. In addition, average hourly earnings beat consensus estimates and rose 4.1% in the 12 months to May, eclipsing the rise in the unemployment rate to 4.0%. Nonetheless, the data prompted investors to abandon expectations of a Federal Reserve (Fed) rate cut in September and kept US Treasury yields elevated. This, along with cautious sentiment in stock markets, supports the safe-haven US Dollar (USD) and becomes a key factor exerting downward pressure on EUR/USD. Conversely, the common currency is being undermined by exit poll results showing that Eurosceptic nationalists made the biggest gains in Sunday's European Parliament elections. Furthermore, French President Emmanuel Macron's decision to call a snap election later this month adds to political uncertainty in the eurozone's second-largest economy and favours euro bears. This suggests that the most straightforward path for EUR/USD is downwards. However, traders may refrain from making aggressive directional bets ahead of Wednesday's important FOMC policy decision. Ahead of this key central bank risk event, traders will face the release of the latest US consumer inflation data, which will boost the dollar and give it meaningful momentum. Trade recommendation: Trading mainly by Sell orders from the current price level. Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 11 Author Share Posted June 11 Fundamental Market Analysis for June 11, 2024 GBPUSD Events to pay attention to today: 09:00 GMT+3. GBP - Claimant Count Change GBPUSD: The GBP/USD pair is trading with small losses near 1.2730 in the early Asian session on Tuesday. Traders may prefer to adopt a wait-and-see stance ahead of the UK employment report due later in the day. Meanwhile, lower bets for a rate cut by the US Federal Reserve (Fed) this year are likely to bolster the US Dollar and limit the pair's gains. UK employment growth has been contracting over the past few months and is likely to continue in May, making it easier for the Bank of England (BoE) to reduce borrowing costs. However, average earnings, a measure of wage growth, remains strong and this could persuade the central bank to delay this year's easing cycle. Any signs of stronger employment market data could support the Pound Sterling (GBP) in the near term. Last week's US jobs data fuelled speculation that the Fed would raise rates for longer. This stronger data provided some support for the US Dollar in previous sessions. According to the CME FedWatch tool, the probability of a rate cut at the September meeting is almost 47%, compared to 68% before the NFP data was released. The US consumer price index (CPI) data released on Wednesday will be crucial for the Federal Reserve, as the central bank has emphasised in recent weeks that it will wait for new inflation data before cutting the interest rate. The US core CPI is expected to rise 3.4% year-on-year in May, while the core CPI for the same period is expected to rise 3.5% year-on-year. Following the CPI data release, the Fed will announce its interest rate decision and update the Summary of Economic Projections (SEP). The Fed's hawkish tone could lift the US dollar and create a headwind for GBP/USD. Trading recommendation: Trading mainly by Buy orders from the current price level. Connect Drawdown bonus 101% and trade with double your deposit! Bonus funds will help you increase your profits or withstand a sudden drawdown! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 11 Author Share Posted June 11 READY TO TAKE YOUR TRADING TO THE NEXT LEVEL? Indicators provide traders with a reliable method to analyze market trends and make informed decisions based on data and statistics. The DirectionalTrend trading indicator offers a clear view of the financial market's trend development, automatically detecting channels and triangles on the current chart to incorporate them into your trading strategy. Key features of the DirectionalTrend indicator: Trend Analysis: The primary function of the indicator is to help traders make well-informed decisions by providing clear signals about the dominant trend. Market Direction: It identifies and displays the overall direction of market movement over a specified period. User-Friendly Interface: The indicator is designed with an intuitive interface, making it accessible for traders of all experience levels. Versatile Usage: Traders can use DirectionalTrend to confirm entry and exit signals, identify trend reversal points, and set stop-loss and take-profit levels. By integrating this tool into your technical analysis, you can make more informed decisions and enhance your profitability in the market. Download the free 'DirectionalTrend MT4' technical indicator for MetaTrader 4 or MetaTrader 5 from the MetaTrader Market and set new records in trading with a trusted broker – FreshForex! Start trading Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 12 Author Share Posted June 12 Fundamental Market Analysis for June 12, 2024 USDJPY Events to pay attention to today: 15:30 GMT+3. USD - Consumer Price Index 21:00 GMT+3. USD - FOMC Rate Decision USDJPY: The USD/JPY continues to rally near 157.15 in the early hours of Asian trading on Wednesday. Traders are adopting a wait-and-see stance ahead of key events, including the release of the US consumer price index (CPI) data on Wednesday and the FOMC monetary policy meeting and press conference. The release of stronger-than-expected US employment data last week has reinforced expectations that the Federal Reserve (Fed) may keep interest rates on hold for longer, providing some support for the dollar. Market players will be focused on US CPI inflation data. The US CPI is forecast to increase 3.4 per cent year-on-year in May, while the core CPI is projected to rise 3.5 per cent year-on-year. The US Federal Reserve is expected to keep rates unchanged at its June meeting on Wednesday. In terms of the yen, the Bank of Japan (BoJ) is expected to leave interest rates unchanged on Friday. Additionally, a majority of economists polled by Reuters believe the BoJ will begin to reduce its monthly bond purchases, which currently stand at around 6 trillion yen ($38 billion). Meanwhile, the interest rate divergence between the US and Japan is continuing to have an adverse effect on the Japanese Yen (JPY) against the US Dollar, creating a tailwind for the USD/JPY pair. Trade recommendation: Trading mainly by Buy orders from the current price level. FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 14 Author Share Posted June 14 Fundamental Market Analysis for June 13, 2024 EURUSD Event to pay attention to today: 15:30 GMT+3. USD - Producer Price Index EURUSD: On Wednesday, the EUR/USD exchange rate began the day at a higher level, rising in response to a general increase in market risk appetite following the release of US Consumer Price Index (CPI) inflation data that fell below expectations. However, the latest update to the Federal Reserve's (Fed) dot plot of interest rate expectations, which was perceived as being more aggressive than expected, led to a decline in market sentiment by the end of the day. According to the Federal Open Market Committee (FOMC) and its Summary of Economic Projections (SEP), only one quarter-point rate cut is expected in 2024. Market expectations of a Federal Reserve interest rate cut have consistently diverged from the central bank's own projections. According to CME's FedWatch tool, the probability of a 25 basis point rate cut on 18 September remains above 60%. Trade recommendation: Trading mainly by Sell orders from the current price level. Fund your account with cryptocurrency and you will receive up to 10% in balance on your first deposit. The additional funds will be used for trading, increasing trading volumes and helping you withstand drawdowns. You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 14 Author Share Posted June 14 Fundamental Market Analysis for June 14, 2024 GBPUSD Event to pay attention to today: 17:00 GMT+3. USD - UoM Consumer Sentiment GBPUSD: GBP/USD is declining near 1.2760 following three consecutive sessions of gains early in the Asian session on Friday. Later on Friday, the preliminary Michigan consumer sentiment report will be released. The US Federal Reserve signalled it will cut its key interest rate just once by 25 basis points (bps) by the end of 2024 despite weakening inflation, according to the dot plot. The Federal Reserve's revised outlook led to a rise in the US dollar and put pressure on GBP/USD despite weaker-than-expected US economic data released on Thursday. The US Producer Price Index (PPI) rose 2.2% in May, up from April's 2.3% increase (revised from 2.2%), below market expectations of 2.5%, according to the US Bureau of Labor Statistics' report on Thursday. The core producer price index rose 2.3% year-on-year in May, below expectations and the previous reading of 2.4%. On a month-on-month basis, the producer price index fell 0.2% in May, while the core producer price index was unchanged at 0%. Additionally, initial jobless claims for the week ended 6 June rose by 242 thousand from 229 thousand in the previous week. This figure was above the market consensus of 225k. There is growing speculation that the Bank of England (BoE) will start cutting interest rates at its August or September meeting, which is putting pressure on the Pound Sterling (GBP). Traders have raised bets on a Bank of England rate cut due to stagnant monthly UK Gross Domestic Product (GDP) data for April. "While there are some tentative signs of cooling in the labour market, services sector inflation remains stubbornly high. It is likely that the MPC will want to wait for the next set of forecasts and a few more data points before embarking on its first rate cut," said KPMG UK Chief Economist Yael Selfin. Trading recommendation: We follow the level of 1.2750. On rebound we take Buy positions, on fixation below - Sell. Our company provides an opportunity to earn income not only from your trading. By attracting clients within the affiliate program, you can get up to $30 per lot! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 17 Author Share Posted June 17 Fundamental Market Analysis for June 17, 2024 EURUSD EURUSD: The EUR and USD pair starts the new week on a subdued note and consolidates its recent strong losses to its lowest level since early May, around 1.0670-1.0665 reached on Friday. Spot prices are currently trading around 1.0700 and look likely to continue the downward trajectory seen over the past two weeks. The euro continues to be undermined by concerns that the snap election in France will worsen the financial situation in the Eurozone's second largest economy, amid the right-wing National Front party's lead in opinion polls. On Friday, French Finance Minister Bruno Le Maire said the country faces a financial crisis if the right or left wins because of its big spending plans. This, along with a modest rise in the US Dollar (USD), confirms a negative outlook for EUR/USD in the near term. The hawkish stance of the Federal Reserve (Fed) following its June meeting, whereby the median forecast calls for only one rate cut in 2024, continues to support rising US Treasury yields. In addition, ongoing geopolitical tensions in the Middle East are another factor supporting the safe-haven US dollar, indicating that the path of least resistance for EUR/USD lies to the downside. Meanwhile, signs of easing inflationary pressures in the US keep the door open for the Fed's first interest rate cut in September. The bets were bolstered by US data released on Friday, which showed that import prices unexpectedly fell in May, further strengthening the outlook for domestic inflation. In addition, a University of Michigan survey showed that US consumer sentiment deteriorated sharply in June, which in turn may deter dollar bulls from aggressive bets and help limit EUR/USD losses. No important economic data will be released from the US on Monday, so spot prices will remain at the mercy of the dollar. Trading recommendation: Trade predominantly with Sell orders from the current price level Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 18 Author Share Posted June 18 Fundamental Market Analysis for June 18, 2024 GBPUSD Events to pay attention to today: 15:30 GMT+3. USD - Retail sales GBPUSD: The Pound Sterling (GBP) is facing selling pressure in an attempt to extend its recovery above the round resistance level of 1.2700 against the US Dollar (USD) in Tuesday's London session. The Pound-Dollar pair is declining as the US Dollar recovers from a small correction from a six-week high. The U.S. Dollar Index (DXY), which tracks the value of the dollar against six major currencies, is holding above 105.00 as Federal Reserve (Fed) officials continue to speak in favor of cutting interest rates only once this year. Fed policymakers want to see a decline in inflation within a few months to gain confidence in lowering interest rates. They remain wary of reigniting price pressures from premature rate cuts, even though the disinflation process has resumed after stalling in the first quarter of this year. On Monday, Philadelphia Fed President Patrick Harker emphasized that rates will remain unchanged for now to keep downward pressure on inflation in various sectors such as housing and services, particularly auto insurance and repair. As for the interest rate outlook, Harker believes that benchmark rates will be cut once this year if his economic forecast comes true, Reuters reported. On the economic front, investors will focus on the monthly U.S. retail sales data for May, which will be released at 15:30 GMT+3. Retail sales data, a rough gauge of consumer spending and a gauge of the inflation outlook, is estimated to have increased 0.3% after being unchanged in April. Trading recommendation: Trade predominantly with Sell orders from the current price level. Connect Drawdown bonus 101% and trade with double your deposit! Bonus funds will help you increase your profits or withstand a sudden drawdown! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 18 Author Share Posted June 18 What drives FreshForex clients' profits? Specialists at Goldman Sachs Group have revised their year-end forecast for the S&P 500 index (#SP500) upward to 5,600 points. This adjustment is based on the assumption that negative earnings will be below average and that the price-to-earnings ratio is now considered fair. Yesterday, the S&P 500 reached a new all-time high of 5,488 points! The index has already grown by 15.8% since the beginning of the year, and the upward trend is expected to continue. We previously discussed the rise of the S&P 500 in April. Our traders closely monitor the market and engage in active trading, so this new surge was not a surprise to them. The growth of leading American companies strengthens the resilience of the U.S. economy The stock price of Applied Materials (#AppliedMat) has increased by 56% since the beginning of the year. Applied Materials is an American corporation that provides equipment, services, and software for the production of semiconductor chips used in electronics, flat panel displays, smartphones, televisions, and solar products. The rising demand for electronic chips fuels investor interest in this company. Motorola Solutions (#Motorola), the successor of one of the oldest U.S. corporations, has transformed into a leading manufacturer of specialized communication devices and holds a monopoly in certain niches. The company's stock has grown by 22.6% since the start of the year. Motorola Solutions focuses on the highly profitable public sector procurement, leading to steady revenue growth for MSI. Procter & Gamble (#PG) is a global leader in the consumer goods market, well-established in the U.S. and abroad. The stock of this defensive goods group (covering beauty and grooming, healthcare, fabric and home care, and baby, feminine, and family care products) has been growing steadily and reliably. Over the year, their value has increased by 15.6%. Start your journey in the world of financial investments with advanced trading platforms, comfortable conditions, and attractive bonuses! Trade with FreshForex! Grow your capital Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 19 Author Share Posted June 19 Fundamental Market Analysis for June 19, 2024 USDJPY USDJPY: The USD/JPY pair exhibited limited volatility during the Asian session on Wednesday, currently trading just below the 158.00 round mark. Spot prices have remained relatively stable following the release of the Bank of Japan's (BoJ) April meeting minutes. They remain within reach of the highest level since late April, reached the previous day. The minutes revealed that BoJ board members discussed the potential risks associated with the impact of a weak Japanese Yen (JPY) on core inflation and noted the possibility of raising interest rates earlier than expected if inflation exceeds target. However, this did little to impress the JPY bulls and failed to provide meaningful momentum to the USD/JPY pair. Despite this, subdued US dollar (USD) price action continues to act as a headwind for spot prices. Meanwhile, comments from Bank of Japan (BoJ) Governor Kazuo Ueda on Tuesday indicated that the central bank may raise rates in July, depending on economic data. This supported the Yen. Furthermore, speculation that the Japanese authorities may intervene to support the national currency further contributed to the decline in the USD/JPY pair. Consequently, any further upward movement may still attract sellers and remain limited. Trade recommendation: Trade mainly buy orders at the price level of 158.20. We consider sell orders at the price level of 157.50. FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 20 Author Share Posted June 20 Elliott waves analysis for June 20, 2024 EURUSD EURUSD The scenario involving a double zigzag correction appears to be incorrect. The market seems to have been sufficiently corrected by a simple zigzag. The waves fit well within this corrective model, with two downward impulsive waves, a and c, and a zigzag in wave b. The subsequent rise looks impulsive, possibly indicating wave 1 of an emerging upward impulse. If this is indeed the case, we can expect a decline in the near future, driven by the development of corrective wave 2. After this, the price is expected to rise again, with the movement likely being strong and sustained. Therefore, in the current situation, it is recommended to wait for the completion of the corrective decline in wave 2 and prepare for a possible start of impulsive growth. Investment Idea: Flat. Fund your account with cryptocurrency and you will receive up to 10% in balance on your first deposit. The additional funds will be used for trading, increasing trading volumes and helping you withstand drawdowns. You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 20 Author Share Posted June 20 (edited) Trade as a PRO and pay no commissions Trade now on a professional ECN account with commission equal to ZERO. Activate the special code ECNFREE in the "Activate Bonus Code" section of your Personal Area. Use the advantages of professional ECN accounts and pay no commission: - Zero commission for opening trades; - Narrow floating spread from 0 pips; - Market execution of orders; - 1:1000 leverage; - All instruments of the company are available; - Order execution less than 0.1 seconds; - Possibility to use MT4 and MT5 platforms for trading; - Possibility to trade with a fixed commission Swap Free for transferring positions to the next day. And many other advantages of ECN trading are waiting for you in the world of Forex. Take advantage of the favourable offer right now, earn money with FreshForex! Get ready to trade Edited June 20 by Volkov Yuriy Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 21 Author Share Posted June 21 Fundamental Market Analysis for June 21, 2024 EURUSD Events to pay attention to today: 11:00 GMT+3. EUR - Composite PMI 11:30 GMT+3. GBP - Composite PMI 16:45 GMT+3. USD - Composite PMI EURUSD: The US Dollar (USD) remains resilient early Friday after rising against major rivals on Thursday. Later in the day, S&P Global will release preliminary reports on manufacturing and services PMIs for Germany, the UK, the eurozone and the US for June. Ahead of the weekend, market participants will also keep a close eye on May US existing home sales data and May Canadian retail sales data. EUR/USD returned to familiar technical levels on Thursday, falling towards 1.0700 after a miss in US economic data supported the dollar. Germany's Producer Price Index (PPI) fell to 0.0% month-on-month in May, down from the previous reading of 0.2% and missing the expected rise to 0.3%. On an annualized basis, the PPI was also below expectations, falling to -2.2% for the year ending in May. While the annualized figure improved from the previous reading of -3.3%, it still fell short of the projected recovery to -2.0%. The latest US initial jobless claims data came in above expectations: 238,000 people applied for unemployment benefits in the week ended June 14, up from the previous week's revised figure of 243,000. The increase also pushed the four-week average to 242,750 from the previous 227,250. The Philadelphia Fed's manufacturing sector business activity index for June fell to 1.3 from 4.5, falling short of the expected 5.0. In addition, U.S. housing starts in May fell to 1.277 million new units, down from the forecast of 1.37 million and the previous month's revised figure of 1.352 million. Trading recommendation: Trade predominantly with Sell orders from the current price level. Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 24 Author Share Posted June 24 Fundamental Market Analysis for June 24, 2024 EURUSD EURUSD: The Euro-dollar pair remains lower for the third consecutive day on Monday, trading around 1.0690-1.0685 in the Asian session, just above the lowest level since early May. The common currency continues to be dragged down by uncertainty over the outcome of the snap election in France, which has fueled fears that the new government will worsen the financial situation in the Eurozone's second-largest economy. In addition, flash PMI indices released on Friday showed that business activity growth in the Eurozone slowed sharply in June. This, as well as some subsequent US Dollar (USD) buying, proved to be key factors putting downward pressure on EUR/USD. The US Dollar Index (DXY), which tracks the dollar against a basket of currencies, rose to its highest level since May 9 on the back of Friday's PMI data, which showed that US business activity rose to a 26-month high in June. The data confirms the Federal Reserve's (Fed) patient approach, although signs of weakening inflationary pressures have raised the prospect of a rate cut in September. This could deter dollar bulls from aggressive bets and help limit further EUR/USD declines. Traders may also prefer to wait for Friday's release of US Personal Consumption Expenditures (PCE) price index data to get an indication of how the Fed will cut the rate. This, in turn, will play a key role in influencing US Dollar price action in the near term and will provide meaningful momentum to the EURUSD. Traders are now waiting for the release of German IFO business climate data and speeches of influential FOMC members to take advantage of short-term opportunities in the absence of any significant macroeconomic releases from the US. Trading recommendation: Watch the level of 1.0700, and if the level is fixed above, take Buy positions. Our company provides an opportunity to earn income not only from your trading. By attracting clients within the affiliate program, you can get up to $30 per lot! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 25 Author Share Posted June 25 Elliott waves analysis for June 25, 2024 USDJPY USDJPY During the past trading day, the price experienced some volatility. Initially, the yen attempted to take the initiative, creating a bright but short-lived impact. Buyers quickly managed to bring the price back. However, it is currently observed that the price is gradually sliding lower. It is possible that the entire upward impulse with the ending diagonal in wave (5) has indeed completed. If so, the pressure from sellers will likely increase, driving the price down further. In this scenario, it is worth considering entering sell trades at the current market levels. Investment Idea: Sell 159.35, Stop Loss 159.70, Take Profit 156.20. Connect Drawdown bonus 101% and trade with double your deposit! Bonus funds will help you increase your profits or withstand a sudden drawdown! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 26 Author Share Posted June 26 Fundamental Market Analysis for June 26, 2024 EURUSD EURUSD: Wednesday's economic calendar is noticeably depleted, although traders will pay attention to the fact that Germany's latest GfK Consumer Confidence Index for July is expected to improve slightly from the previous reading of -20.9 to -18.9. European Central Bank (ECB) Chief Economist Philip Lane is also expected to deliver some talking points during the European market session. However, the ECB executive board member is not expected to rock the boat or otherwise deviate from recent talking points announced by other ECB board members. In the U.S., the latest bank stress test results will also be released, but the numbers are not expected to differ much from previous Federal Reserve stress tests of the U.S. banking system. The current "severely adverse" stress test requires banks to test the resilience of their balance sheets under a hypothetical scenario in which the U.S. unemployment rate reaches 10% within two years and market volatility increases, home prices fall 36% and commercial real estate values decline 40%. Thursday will kick off the week's data releases in earnest with the release of final EU consumer confidence data for June, as well as the revised first quarter US gross domestic product (GDP), which is expected to remain at 1.3% QoQ. Friday will blow up this week's economic release schedule with the release of German retail sales data for May and the latest US personal consumption expenditure (PCE) price index, also for May. Investors will be keeping a close eye on further declines in crucial U.S. inflation indicators to see if the Fed remains on track for an initial rate cut when the Federal Open Market Committee (FOMC) meets on September 18. Trading recommendation: Trade predominantly with buy orders at the price level of 1.0745. We consider sell orders at the price level of 1.0680. FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes! You can find more analytical information on our website. Link to comment Share on other sites More sharing options...
Volkov Yuriy Posted June 27 Author Share Posted June 27 (edited) Elliott waves analysis for June 27, 2024 EURUSD Events to pay attention to today: 15:30 GMT+3. USD - GDP volume change EURUSD: Instead of the expected rise, the euro has fallen. The price managed to dip slightly below the critical level and update the minimum. This indicates that the wave scenario under consideration requires certain adjustments. Currently, the situation may look as follows: wave c in the zigzag takes the form of an ending diagonal triangle. This maintains the chances for an upward movement. There is a cautious attempt to rise, which, with sufficient activity, can lead to a significant upward movement. It is possible to try buying again at current market prices. Investment Idea: Buy Action: Buy at 1.0700 Stop Loss: 1.0675 Take Profit: 1.0800 Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion! You can find more analytical information on our website. Edited June 27 by Volkov Yuriy Link to comment Share on other sites More sharing options...
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