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EURCAD Wave Analysis 6 September 2024

– EURCAD reversed from pivotal support level 1.4900 – Likely to rise to resistance level 1.5100 EURCAD currency pair recently reversed from the pivotal support level 1.4900 (a former monthly high from July, which stopped the previous correction (4)). The.

EURCAD Wave Analysis 6 September 2024
EURUSD Wave Analysis 6 September 2024

– EURUSD reversed from support level 1.1030 – Likely to rise to resistance level 1.1200 EURUSD recently reversed up from the support level 1.1030 (former resistance from August, acting as the support after it was broken by the previous impulse.

Further Unwinding of Carry Trade

The unwinding of the carry trade in the FX market continues, with the major safe havens returning to the extremes seen against the dollar in early August. A new wave of risk aversion has been synchronised across currency and equity.

Bitcoin pressured by risk-off mood

Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below the bi milestone of $2 trillion. This level acted as resistance in early February and support since May, except for a brief dip in early.

Market Overview

Further Unwinding of Carry Trade
Further Unwinding of Carry Trade
US Labour Market: Normalisation, Not Recession
US Labour Market: Normalisation, Not Recession
A jump in eurozone PPI won’t stop ECB easing
A jump in eurozone PPI won’t stop ECB easing
Crypto Review

Bitcoin pressured by risk-off mood
Bitcoin pressured by risk-off mood

Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below the bi milestone of $2 trillion. This level acted as resistance in early February and support since May, except for a brief dip in early.

Bitcoin Continues Downtrend
Bitcoin Continues Downtrend

Market Picture The Asian session continues to be tough for cryptocurrencies. The total market capitalisation had risen to $2.05 trillion the previous evening, recovering from a drop earlier in the day. Still, selling prevailed again at the start of the.

The crypto cap sinks below $2 trillion
The crypto cap sinks below $2 trillion

Market picture Pressure on the crypto market returned on Tuesday and intensified on Wednesday morning, with capitalisation falling 4.8% to $1.98 trillion. This is below the psychological support line that attracted buyers for most of August and is the lowest.

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Technical analysis

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EURCAD Wave Analysis 6 September 2024
EURCAD Wave Analysis 6 September 2024

– EURCAD reversed from pivotal support level 1.4900 – Likely to rise to resistance level 1.5100 EURCAD currency pair recently reversed from the pivotal support level 1.4900 (a former monthly high from July, which stopped the previous correction (4)). The.

EURUSD Wave Analysis 6 September 2024
EURUSD Wave Analysis 6 September 2024

– EURUSD reversed from support level 1.1030 – Likely to rise to resistance level 1.1200 EURUSD recently reversed up from the support level 1.1030 (former resistance from August, acting as the support after it was broken by the previous impulse.

AUDUSD Wave Analysis 5 September 2024
AUDUSD Wave Analysis 5 September 2024

– AUDUSD reversed from support level 0.6700 – Likely to rise to resistance level 0.6800 AUDUSD currency pair recently reversed up from the support level 0.6700 (which also reversed the price at the end of August) standing near the 20-day.

Gold Wave Analysis 5 September 2024
Gold Wave Analysis 5 September 2024

– Gold reversed from support level 2475.00 – Likely to rise to resistance level 2535.00 Gold recently reversed up from the support level 2475.00 (former monthly high from July, which has been reversing the price from August) standing near the.

GBPJPY Wave Analysis 4 September 2024
GBPJPY Wave Analysis 4 September 2024

– GBPJPY reversed from resistance level 192.40 – Likely to fall to support level 188.00 GBPJPY currency pair recently reversed down from the key resistance level 192.40 (which has been reversing the price from the middle of April) standing near.

WTI crude oil Wave Analysis 4 September 2024
WTI crude oil Wave Analysis 4 September 2024

– WTI crude oil broke key support level 71.40 – Likely to fall to support level 68.00 WTI crude oil recently broke sharply below the key support level 71.40 (which has been repeatedly reversing the price from the start of.

S&P 500 Wave Analysis 3 September 2024
S&P 500 Wave Analysis 3 September 2024

– S&P 500 reversed from resistance level 5670.00 – Likely to fall to support level 5550.00 S&P 500 index recently reversed down from the powerful resistance level 5670.00 (which stopped the previous impulse wave 1 in the middle of July).

USDCAD Wave Analysis 3 September 2024
USDCAD Wave Analysis 3 September 2024

– USDCAD reversed from key support level 1.3450 – Likely to rise to resistance level 1.3600 USDCAD currency pair recently reversed up from the key support level 1.3450 (which has been reversing the price from February) standing near the lower daily.

Ferrari Wave Analysis 2 September 2024
Ferrari Wave Analysis 2 September 2024

– Ferrari rising inside sharp impulse wave 3 – Likely to test resistance level 500.00 Ferrari continues to rise inside the sharp upward impulse wave 3 – which previously broke the key resistance level 440.00 (which stopped the previous impulse wave 1.

USDJPY Wave Analysis 2 September 2024
USDJPY Wave Analysis 2 September 2024

– USDJPY reversed from support level 144.00 – Likely to rise to resistance level 149.35 USDJPY currency pair recently reversed up from the strong support level 144.00 (which has been reversing the price from January) standing near the lower daily.

EURGBP Wave Analysis 30 August 2024
EURGBP Wave Analysis 30 August 2024

– EURGBP reversed from strong support level 0.8400 – Likely to rise to resistance level 0.8440 EURGBP currency pair today reversed up from the strong support level 0.8400 (which has been steadily reversing the price from the middle of June).

CADJPY Wave Analysis 30 August 2024
CADJPY Wave Analysis 30 August 2024

– CADJPY reversed from key support level 105.00 – Likely to rise to resistance level 110.00 CADJPY currency pair recently reversed up with the weekly Hammer from the key support level 105.00 (which has been reversing the price from the.

Dow Jones index Wave Analysis 29 August 2024
Dow Jones index Wave Analysis 29 August 2024

Dow Jones index continues to rise after the earlier breakup of the pivotal resistance level 41280.00 (which stopped the previous waves I, b and iii, as can be seen below). The breakout of the resistance level 41280.00 continues the active.

EURUSD Wave Analysis 29 August 2024
EURUSD Wave Analysis 29 August 2024

EURUSD currency pair recently reversed down from the major long-term resistance level 1.1150 (which has been reversing the price from the start of 2022). The resistance level 1.1150 was strengthened by the upper weekly Bollinger Band and by the 61.8%.

EURCHF Wave Analysis 28 August 2024
EURCHF Wave Analysis 28 August 2024

EURCHF currency pair is falling inside the minor impulse wave iii which started earlier from the pivotal resistance level 0.9550 (former support from April). The pair today broke the support level 0.9400 – which should add further pressure on this.

EURAUD Wave Analysis 28 August 2024
EURAUD Wave Analysis 28 August 2024

– EURAUD falling inside impulse wave (1) – Likely to reach support level 1.6260 EURAUD currency pair continues to fall inside the weekly downward impulse wave (1) which started earlier from the key resistance level 1.7000 (former yearly high from.

USDCHF Wave Analysis 27 August 2024
USDCHF Wave Analysis 27 August 2024

– USDCHF broke key support level 0.8450 – Likely to fall to support level 0.8330 USDCHF currency pair today broke below the key support level 0.8450 (which stopped the previous sharp downward impulse wave (1) at the start of August)..

Coca-Cola Wave Analysis 27 August 2024
Coca-Cola Wave Analysis 27 August 2024

– Coca-Cola broke the resistance zone – Likely to rise to resistance level 72.00 Coca-Cola recently broke the resistance zone at the intersection of the round resistance level 70.00 and the resistance trendline of the daily up channel from April. The.

WTI crude oil Wave Analysis 26 August 2024
WTI crude oil Wave Analysis 26 August 2024

– WTI crude oil reversed from a strong support level 72.40 – Likely to rise to resistance level 78.00 WTI crude oil recently reversed up from the strong support level 72.40 (which has been reversing the price from the start.

EURCAD Wave Analysis 26 August 2024
EURCAD Wave Analysis 26 August 2024

– EURCAD reversed from the long-term resistance level 1.5115 – Likely to test support level 1.5000 EURCAD currency pair recently reversed down from the long-term resistance level 1.5115 (which has been reversing the price from the start of 2021) coinciding.

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Brokers News

2 of the Biggest ETFs Just Landed at FxPro!
2 of the Biggest ETFs Just Landed at FxPro!

We are thrilled to announce that FxPro now offers two of the biggest US ETFs: SPY and QQQ! Trade from as little as 0.01 lots. Dive into the world of ETF CFDs with FxPro today! 📈 Marketing communication, not trading.

Get ready for NVIDIA Stock Split
Get ready for NVIDIA Stock Split

Nvidia (NVDA) has announced a 10-for-1 stock split. 📅 The split is set to happen after the US stock market closes on June 7, with trading on a post-split basis starting on June 10. Key points to note: At FxPro,.

⚡️Calling all EV Stock Sharks⚡️
⚡️Calling all EV Stock Sharks⚡️

Zeekr, China’s Tesla rival, recently had its IPO, and now you can trade it at FxPro!You can find this new stock on the FxPro platform & mobile app with the FxPro MT5 account type under the ticker ZK.N ✅Trade from.

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Brexit

Brexit reality stokes fears for the peace in Northern Ireland
Brexit reality stokes fears for the peace in Northern Ireland

The deep anger among some pro-British unionists in Northern Ireland over post-Brexit trade barriers that cut it off from the rest of the United Kingdom is emblazoned along the road from Belfast to the mainly Protestant port town of Larne..

Pound Optimism Fades Along With Brexit Glow for Asset Managers
Pound Optimism Fades Along With Brexit Glow for Asset Managers

The pound’s Brexit deal honeymoon looks well and truly over, with the currency off to the worst start to the year among its Group-of-10 peers. Allianz Global Investors has taken a short position on sterling against the euro, citing the.

The Brexit deal leaves the future uncertain for financial services — here’s what is at stake
The Brexit deal leaves the future uncertain for financial services — here’s what is at stake

Britain formally left the European Union’s trade bloc on Dec. 31, marking a new era for the U.K.-EU relationship. After months of wrangling, new rules for trade were finally agreed just days before the year-end deadline. But in a document.

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