Forex Directory Forex News

Range bound; what will drive a break
Monday, June 24,2024,20:00

AUD - Australian dollar The Australian dollar benefited from a softer US dollar Monday, edging back above US$0.6650. Softer US equities and weaker US treasury yields drove the USD lower against most counterparts, allowing the AUD to edge back toward the upper end of recent ranges. The AUD remains well and truly entrenched within a narrow trading handle, bouncing between US$0.66 and US$0.6680. While sentiment toward the USD is shifting as US economic exceptionalism may be waning, lacklustre global growth and a weakening Chinese yuan act as headwinds preventing an extended AUD rally. The PBOC again set a lower CNY fix, this being the fourth consecutive weaker fix, acknowledging the widening... .. read more..

FX Daily: Three hot weeks ahead
Monday, June 24,2024,17:00

USD: PCE vs French elections There are five big dates in markets over the next three weeks. On Sunday 30 June, there is the first round of the French parliamentary election – although certainty on how far Marine Le Pen’s party has advanced will only be clear after the 7 July round of constituency run-offs. ... .. read more..

Dollar weakens after yen steadies amid intervention jitters
Monday, June 24,2024,17:00

The dollar eased from a near eight-week high on Monday, with traders back on alert for intervention to support the yen after the Japanese currency flirted with the 160 per dollar level that had earlier drawn verbal warnings from Japanese authorities. Dollar/yen topped at 159.94 in early trade, its highest since April 29, when the ... .. read more..

GBP/USD. Review and analysis
Monday, June 24,2024,12:32

On the first day of the week, the GBP/USD pair is attempting to attract buyers However, the British pound continues to be under pressure due to the Bank of England's "dovish pause," which increased the likelihood of interest rate cuts at the August monetary policy meeting. Additionally, Friday's released UK business activity index data showed that private sector business activity in June grew at its slowest pace since November of last year. Against the backdrop of some USD purchases, this is another factor exerting pressure on the GBP/USD pair.Also, in light of the Federal Reserve's hawkish surprise in early June regarding its forecast of only one rate cut this year, Friday's data showed ... .. read more..

NZD/USD. Review and analysis. The pair manages to protect the 0.6100 mark
Monday, June 24,2024,12:25

On the first day of the new week, the NZD/USD pair is trying to attract buyers. Still, against the backdrop of cautious market sentiment and moderate strengthening of the US dollar, despite its correction, any significant recovery seems unlikely. The pair finds support around the key level of 0.6100. The US Dollar Index, which tracks the dollar against a basket of currencies, following the Federal Reserve's aggressive stance pointing to only one rate cut this year, has risen to its highest level since May 9th. In addition to better-than-expected Friday's US business activity index data, it continues to support the dollar. Furthermore, ongoing geopolitical tensions and political uncertaint... .. read more..

EUR/USD. Review and analysis. The strength of the single currency is undermin...
Monday, June 24,2024,12:18

On the first trading day of the week, the EUR/USD pair is attempting to attract buyers despite the euro's strength being undermined by a combination of factors. There is uncertainty surrounding the outcome of early elections in France, which increases concerns that the new government could worsen the financial situation in the Eurozone's second-largest economy. Additionally, Friday's business activity indices in the Eurozone indicate a sharp slowdown in business activity in June. Furthermore, today's economic indicators from Germany are negative. Alongside some USD purchases, these factors are putting pressure on the EUR/USD pair. The US Dollar Index, which tracks the dollar's performance... .. read more..

Euro rises despite soft German business climate
Monday, June 24,2024,12:16

The euro has started the week with gains. EUR/USD is trading at 1.0727 in Monday’s European session, 0.34% on the day. German Business Climate surprises with dip Germany’s Ifo Business Climate surprised on the downside, declining to 88.6 in June. This was down from 89.3 in May and missed the market estimate of 89.7. Business […] .. read more..

Oil Price Outlook: Brent Crude Eyes Further Gains on Supply Risks
Monday, June 24,2024,12:14

Crude Oil prices start the week on the front foot, up 0.94% at the time of writing. Geopolitics, supply risks and the summer holidays keep buyers hopeful. MA crossover and support bounce hint at fresh highs this week. Fundamental Overview  Oil benchmarks are trading higher to start the week as supply risks were helped by […] .. read more..

Analysis of GBP/USD pair on June 24th. The pound started the week with a rebo...
Monday, June 24,2024,12:02

The wave pattern for GBP/USD remains quite complex and ambiguous. A successful attempt to break the 50.0% Fibonacci level in April indicated the market's readiness to form a downward wave 3 or C. Still, since then, we have only seen an upward movement. If this wave resumes its formation, the wave pattern will become much simpler, and the threat of complicating the wave count will disappear. However, in recent weeks, there has been a complete absence of decline in the instrument, which again raises doubts about the market's readiness for sales. In the current situation, my readers can still expect the formation of wave 3 or C, with targets located below the low of wave 1 or A at the 1.2035... .. read more..

Analysis of EUR/USD pair on June 24, 2024
Monday, June 24,2024,10:44

The wave pattern on the 4-hour chart for the EUR/USD pair remains unchanged. At the moment, we are observing the formation of the presumed wave 3 within wave 3 or c of the bearish section of the trend. If this is indeed the case, the decline in quotes will continue for quite some time, as the first wave of this section completed its formation around the 1.0450 mark. Therefore, the third wave of this trend section should end lower, even if it does not take on an impulsive form. The mark of 1.0450 is a target only for the third wave. If the current bearish trend segment takes on an impulsive form, then we can expect a total of five waves, and the European currency could decline below the 1.... .. read more..

Euro received a favorable offer
Monday, June 24,2024,10:29

There have always been upheavals. However, a distinctive feature of the current stage of the global economy's development is its transition from an overheated state to a cooler one. In reality, this is good because it was previously believed that the most aggressive monetary restriction by the Fed and other central banks worldwide in decades would freeze the economy and plunge it into recession. However, the flip side is higher rates for an extended period, which supports the "bears" in EUR/USD. The consensus forecast from Bloomberg experts suggests that the US GDP will expand by 2.4% in 2024, consumer prices will rise by 3.1%, and unemployment will remain at 3.9%. All these are character... .. read more..

Australian dollar calm ahead of consumer confidence
Monday, June 24,2024,09:47

The Australian dollar has started the week quietly. AUD/USD is trading at 0.6648 early in the North American session, up 0.11% on the day. Australia releases Westpac Consumer Sentiment early on Tuesday. Consumer confidence has been weak and fell 0.3% in May to 82.4, following a 2.4% decline in April. Consumers have been pessimistic about […] .. read more..

Dollar Rises As Fed Perceived More Hawkish Than Peers
Monday, June 24,2024,09:14

The Dollar gained during the week ended June 21 amidst rising perception that the Fed was more hawkish than other major central banks. .. read more..

Trading Signals for GOLD (XAU/USD) for June 24-27, 2024: buy above $2,337 (21...
Monday, June 24,2024,09:14

Early in the American session, Gold is trading around 2,325 below the 200 EMA and 21 SMA, bouncing after falling from 2,368 and reaching the low at 2,316 but showing signs of exhaustion. Last week, gold printed a high of 2,368, after failing to reach 6/8 Murray and quickly fell in a matter of eight hours, losing almost $50. This strong technical correction could be the beginning of a sequence of declines for gold. It is likely that if gold consolidates below 2,337, it could continue the decline, reach 2,312, and even drop to the psychological level of 2,300. On the other hand, if gold consolidates above 200 EMA and above 2,337, the outlook could be positive and gold could rise to 2,345, 2... .. read more..

EUR/USD Mid-Day Outlook
Monday, June 24,2024,09:09

Daily Pivots: (S1) 1.0669; (P) 1.0695; (R1) 1.0719; More…. Intraday bias in EUR/USD remains neutral as range trading continues above 1.0667. Further fall is expected with 1.0760 resistance intact. Decline from 1.0915 is seen as another leg in the larger corrective pattern. Break of 1.0667 will target 1.0601 and below. However, firm break of 1.0760 […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex . .. read more..

GBP/USD Mid-Day Outlook
Monday, June 24,2024,09:07

Daily Pivots: (S1) 1.2619; (P) 1.2646; (R1) 1.2671; More… Intraday bias in GBP/USD is turned neutral first with current recovery. Further decline is expected as long as 1.2739 resistance holds. Break of 1.2622, and sustained trading below 1.2633 resistance turned support will argue that whole rise from 1.2298 has completed, and target 1.2445 and below. […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex . .. read more..

Markets Focus On Monetary Policy Ahead Of Friday's PCE Data
Monday, June 24,2024,09:03

Market spotlight is back on monetary policy ahead of the crucial PCE-based inflation readings due from the U.S. on Friday. .. read more..

USD/CHF Mid-Day Outlook
Monday, June 24,2024,09:03

Daily Pivots: (S1) 0.8917; (P) 0.8931; (R1) 0.8958; More…. USD/CHF is extending the consolidation above 0.8825 and intraday bias remains neutral first. Still, near term outlook remains bearish with 0.8992 resistance intact. Break of 0.8825 will resume the fall from 0.9223 to 61.8% retracement of 0.8332 to 0.9223 at 0.8672. In the bigger picture, price […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex . .. read more..

USD/JPY Mid-Day Outlook
Monday, June 24,2024,08:46

Daily Pivots: (S1) 159.02; (P) 159.44; (R1) 160.22; More… Despite the deep but brief retreat, intraday bias in USD/JPY stays mildly on the upside with 158.65 minor support intact. Current rally should target 160.20 high, or possibly to 100% projection of 151.86 to 157.70 from 154.53 at 160.37. Upside could be limited there, at least […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex . .. read more..

NEO Price Prediction for 2024, 2025–2030 and Beyond
Monday, June 24,2024,08:35

Known for its volatility, the digital currency market has always been exposed to both opportunities and risks. NEO, often called "China's Ethereum," has always been on this typical rollercoaster ride, experiencing sharp ups and downs. However, the cryptocurrency continues to attract attention in the crypto sphere, sparking lively discussions and varying Neo price predictions among enthusiasts and skeptics alike. With its unique blockchain technology and vision to digitize assets using smart contracts, the NEO coin has been on the radar of investors and traders for its potential to carve out a niche in the decentralized financial landscape. Amidst the sea... Read full author’s opinion and ... .. read more..

Zcash Price Predictions: ZEC/USD rate for 2024, 2025-2026 and Beyond
Monday, June 24,2024,08:33

Despite regulation restrictions, the popularity of cryptocurrencies has been growing over the years. We all have heard about Bitcoin, Ethereum, and Litecoin. Still, there are other digital assets that can provide investors with exciting opportunities. ZEC is one of them.   Zcash is considered a promising token with a high level of anonymity. It's the first open-source digital asset based on a blockchain. The coin appeared on October 28, 2016 and currently has a market cap of $238.5 million dollars. The total possible Zcash supply is 21 million coins. Although Zcash is based on the Bitcoin framework, their cost varies significantly.... Read full author’s opinion and review in blog of #Lite... .. read more..

EOS Price Prediction for 2024, 2025, 2026-2030 and Beyond
Monday, June 24,2024,08:31

EOS is the native cryptocurrency for EOSIO, an open-source blockchain technology that allows developers to build decentralized applications or ‘dApps.’ The coin is recognized as one of the leading tokens in the crypto world, although the market capitalization is not that big. While Ethereum is far more popular, experts know better than to equate popularity with quality. EOS focuses on speed, scalability, and flexibility — all important things that give it an edge in the eyes of experts. What’s more, EOS tries to solve the problems of limited availability of resources on the network, false transactions, similar requests, spamming apps,... Read full author’s opinion and review in blog of #L... .. read more..

Ripple Price Predictions: 2024 and Beyond
Monday, June 24,2024,08:30

Ripple XRP is one of the leading cryptocurrencies. Although the coin doesn't aim to be the most decentralized, it actively cooperates with international banks and investment companies. Experts say this factor could be the key to Ripple's success. XRP is not just a cryptocurrency. Ripple was designed as a full-fledged payment infrastructure that can potentially replace SWIFT. The lawsuit with the SEC became one of the most important events that attracted the attention of the entire cryptocurrency industry. Court hearings began in 2020 and ended only in July 2023. As a result, the court sided with XRP and did not... Read full author’s opinion and review in blog of #LiteFinance .. read more..

USD/TRY Forecast: Trades Near All-Time Lows - 24 June 2024
Monday, June 24,2024,08:29

The USD/TRY pair traded mixed during the early trading sessions of the week, after hitting its all-time low at the end of last week. .. read more..

Litecoin Price Prediction for 2024 and Beyond
Monday, June 24,2024,08:28

Litecoin (LTC) cryptocurrency was created in 2011 by former Google employee Charlie Lee. Litecoin is based on the Bitcoin (BTC) protocol code, featuring a faster blockchain and lower reward per block. LTC ranks among the top 10 cryptocurrencies, second only to Bitcoin. These two digital assets are often compared: if Bitcoin is the "crypto gold," then Litecoin is the "silver." This is probably why the coin manages to attract investor interest, and its price and market cap remain high even in times of market downturns. This article offers thorough Litecoin price forecasts for 2024 and beyond. Based on the analysis,... Read full author’s opinion and review in blog of #LiteFinance .. read more..

Ethereum Price Predictions: 2024, 2025-2026 and Beyond
Monday, June 24,2024,08:27

Cryptocurrencies are volatile by nature and, thus, are difficult to predict. Nonetheless, cryptocurrency experts have tried their best to forecast the price of Ethereum in 2024 and beyond. The ETH’s price prediction is a controversial topic, but the price of ETH is expected to perform well on the market this year as one of the leading cryptocurrencies.  While the Ethereum price prediction is not set in stone, its utility as a software network means that it is extremely popular; its wide range of applications means that it has the potential for growth in the long run. Some believe it even... Read full author’s opinion and review in blog of #LiteFinance .. read more..

Bitcoin Price Predictions for 2024-2025, 2030 and Beyond
Monday, June 24,2024,08:26

Bitcoin is the world's largest cryptocurrency by market cap. It is also the world's first, most famous, and most expensive cryptocurrency. Retail investors and traders are very interested in BTC's uniqueness, growth potential, and ability to influence other cryptocurrencies. BTC's market cap hit $539,114,505,737, and other digital assets are directly dependent on its price. In this article, we will look at the history of this cryptocurrency, make a Bitcoin forecast for the future using technical analysis, and also consider the assessments of leading crypto analysts. Highlights and Key Points Bitcoin will trade at around $80,000 after April 2024. By the... Read full author’s opinion and re... .. read more..

German Business Morale Deteriorates On Weak Expectations: Ifo
Monday, June 24,2024,08:13

Germany's business sentiment softened in June due to more pessimistic expectations, highlighting the hardship that the economy faces amid headwinds, survey results from the ifo Institute showed on Monday. The business confidence index fell to a three-month low of 88.6 in June from 89.3 in May. The score was forecast to rise slightly to 89.7. .. read more..

How to Accept Trading Losses Constructively
Monday, June 24,2024,07:57

Losing is inevitable in trading, so you might as well learn how to deal with losses. Here’s one unusual yet effective trick that helps. .. read more..

USD/JPY Analysis: Nears Key 160 Level Amid Yen Bet - 24 June 2024
Monday, June 24,2024,07:44

USD/JPY is the closest to testing the psychological resistance of 160.00 at the start of this week’s trading. .. read more..

EUR/USD Analysis: Bearish Trend Could Continue - 24 June 2024
Monday, June 24,2024,07:25

The EUR/USD remains under pressure as concerns about the eurozone economy and the future of monetary policy persist. .. read more..

GBP/USD Analysis: Eyes on Psychological Support Levels - 24 June 2024
Monday, June 24,2024,07:07

At the end of last week’s trading, the latest UK data recorded a strong rebound in retail sales for May, but the pound struggled to make significant headway in global markets. .. read more..

Gold Analysis: Buying Strategy Still the Best - 24 June 2024
Monday, June 24,2024,06:56

Gold futures suffered a sharp sell-off to close out the last trading week as investors booked profits. .. read more..

Currency market today: Rupee rises 11 paise to close at 83.46 against US dollar
Monday, June 24,2024,06:48

The dollar index was trading at 105.57, lower by 0.21% .. read more..

USD/ZAR Analysis: Test of Lows as Trading Equilibrium is Considered - 24 June...
Monday, June 24,2024,06:39

The near-term depths which the USD/ZAR is now trading in an almost tranquil manner. .. read more..

EUR/USD. June 24th. Friday remained for the bears, but the bulls went on the ...
Monday, June 24,2024,06:36

The EUR/USD pair on Friday made a reversal in favor of the US dollar around the corrective level of 61.8%-1.0722, and dropped to the Fibonacci level of 76.4%-1.0676. Such a movement was expected. The rebound of the pair from the level of 1.0676 already worked in favor of the European currency and started to rise towards the level of 1.0722. A rebound today from this level will return the pair into "bearish hands" with a potential drop back to 1.0676. Firming above the level of 1.0722 will increase the probability of further growth towards the next corrective level of 50.0%-1.0760. The wave situation remains clear. The last completed upward wave turned out to be very weak and failed to bre... .. read more..

USD/MXN Analysis: Bearish Decline after Pro-Business Minister Named - 24 June...
Monday, June 24,2024,06:32

After trading at a high of nearly 18.47700 on Wednesday, and above that ratio earlier last week, the USD/MXN pair began to incrementally selloff. .. read more..

Yen steadies after dreadful week
Monday, June 24,2024,06:29

The Japanese yen has posted gains on Monday. In the European session, USD/JPY is trading at 159.26, down 0.10%. The yen hasn’t had a winning daily session since June 19th and declined 1.5% last week. On the data front, Japan releases the Services Producer Price Index. There are no economic releases in the US but […] .. read more..

Bitcoin Technical Analysis – We are back at the key support zone
Monday, June 24,2024,06:26

Fundamental Overview Despite good data on the inflation and growth front, Bitcoin couldn’t find a sustained bid amid the generally positive risk sentiment. There was no real catalyst for the drop other than a key technical support getting breached. We got a quick drop into a key support zone today which will likely attract more buyers looking to buy the dip at better levels. Bitcoin Technical Analysis – Daily Timeframe On the daily chart, we can see that Bitcoin dropped all the way back to the key 60000 support zone after breaking below the 67275 level. The sellers for now remain in control but we can expect the buyers to start piling in around these levels with a better risk to reward se... .. read more..

Forex forecast 06/24/2024: EUR/USD, GBP/USD, Gold and Bitcoin from Sebastian ...
Monday, June 24,2024,06:13

We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week. Video Agenda: 00:00 INTRO 00:14 Totay's key events: Trade Balance, Core CPI, German Business Expectations, CBI Industrial Trends Orders, FOMC Member Daly Speaks, ECB McCaul Speaks 01:43 EUR/USD 03:41 GBP/USD 06:32 GOLD 08:34 BTC/USD Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The beggin... .. read more..

BTC/USD Forex Signal: Pronounced Medium-Term Bearish Trend - 24 June 2024
Monday, June 24,2024,06:12

Price held within bearish channel for 18 days after major reversal. .. read more..

Yen may face another intervention. Foarecast as of 24.06.2024
Monday, June 24,2024,06:12

The Japanese authorities, despite their efforts, are still grappling with the USDJPY pair's persistent bullish trend. Meanwhile, even insurance companies do not believe in a trend reversal today. Let's discuss this topic and make a trading plan. Weekly fundamental forecast for Japanese yen USDJPY quotes are returning to the psychologically important 160 mark, the government is spoon feeding the markets with verbal interventions, while the extremely slow monetary policy normalization by the Bank of Japan is depressing the national currency, keeping it among Forex underdogs. The bond yield differential is too wide for investors to start shifting money from North... Read full author’s opinio... .. read more..

USD/JPY: Verbal intervention intensified to slow yen weakness, but real inter...
Monday, June 24,2024,06:05

The USD/JPY has traded higher in the past 7 sessions and printed an intraday high of 159.85 last Friday, 21 June which coincided with its 34-year high of 160.23 printed on 26 April. Last week’s persistent JPY weakness prompted Japan’s Ministry of Finance Vice Minister-in-charge of the FX market to issue a “firmer” verbal intervention. […] .. read more..

USD/JPY: Verbal intervention intensified but real intervention may have to wait
Monday, June 24,2024,06:05

The USD/JPY has traded higher in the past 7 sessions and printed an intraday high of 159.85 last Friday, 21 June which coincided with its 34-year high of 160.23 printed on 26 April. Last week’s persistent JPY weakness prompted Japan’s Ministry of Finance Vice Minister-in-charge of the FX market to issue a “firmer” verbal intervention. […] .. read more..

Euro to Dollar (EURUSD) Forecast for 2024-2025 and Beyond
Monday, June 24,2024,05:55

EURUSD is one of the major currency pairs. It means that it’s one of the most traded pairs in Forex. However, traders around the globe try to predict its future price for more than opening successful trades. The direction of EURUSD may reflect the strength of either the EU or US economy. Moreover, the EUR to US dollar rate may reflect the overall global market sentiment.   As the pair is widely traded, it may be hard to forecast its rate for the long term. The Euro/US dollar rate is subject to such factors as interest rate differences, inflation, jobs data,... Read full author’s opinion and review in blog of #LiteFinance .. read more..

Video market update for June 24, 2024
Monday, June 24,2024,05:54

Potential for the upside continuation on the WTI The material has been provided by InstaForex Company - www.instaforex.com .. read more..

Gold Price Forecast & Predictions: 2024 and Beyond
Monday, June 24,2024,05:54

The gold price forecast employs a comprehensive analysis of major factors affecting the precious metal's supply and consumer demand. It also encompasses trading patterns, fractals, and emerging market trends. What lies ahead for gold? Will it rise in price? In this article, we'll delve into historical data, consult with experts, and present a gold price forecast for 2024, 2025, and a long-term forecast until the end of 2030, inviting you to anticipate the future trends. Highlights and Key Points When forecasting XAUUSD prices, it is necessary to conduct fundamental and technical analysis. The fundamental analysis considers changes in the monetary... Read full author’s opinion and review i... .. read more..

Crude Oil Price Forecast: 2024 and Beyond
Monday, June 24,2024,05:53

"Are oil costs expected to go up or down?" is a pertinent inquiry in the financial realm, particularly for traders and investors eyeing the energy market. The oil price forecast is a critical instrument that assists in deciphering the convoluted market dynamics. As we transition into an era where geopolitical tensions and economic uncertainties exacerbate market volatilities, a meticulous examination of the outlook is essential. Recent data highlights a marked decline post-April 2023 after the OPEC+ production cut announcements. As documented on capital.com, this regression results from various factors, including global recession apprehensions, a high-interest rate milieu, and concerns su... .. read more..

Forecast of GBP/USD pair on June 24, 2024
Monday, June 24,2024,05:47

On the hourly chart, the GBP/USD pair continued to fall on Friday after the second close below the support zone of 1.2690–1.2705. Today, this decline has stopped, but due to weak trader activity, it may well resume by the end of the day towards the level of 1.2611. There is no informational background today, so nothing will influence the mood of the bulls and bears. Mondays are often corrective. The wave situation has shifted slightly. The latest upward wave broke the peak from June 4th, while a new downward wave managed to break the low of the wave from June 10th. Thus, the trend for the GBP/USD pair has shifted to bearish. I am cautious about concluding that a bearish trend has started,... .. read more..

EURUSD Technical Analysis
Monday, June 24,2024,05:36

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be positive for risk sentiment for the time being. The EUR, on the other hand, got hit on Friday following the disappointing Eurozone PMIs , although the losses were erased this morning. The risk sentiment has been gradually improving, so we might see the greenback coming back under pressure if this were to persist. EURUSD Technical Analysis – Daily Timeframe On the daily chart, we can see that EU... .. read more..

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