USD/JPY: Advance is unlikely to breach the major resistance at 152.00 – UOB Group Further US Dollar (USD) strength appears likely; any advance is unlikely to breach the major resistance at...

USD/JPY: Advance is unlikely to breach the major resistance at 152.00 – UOB Group Further US Dollar (USD) strength appears likely; any advance is unlikely to breach the major resistance at...

Silver price today: Silver rises, according to FXStreet data Silver prices (XAG/USD) rose on Tuesday, according to FXStreet...

Silver price today: Silver rises, according to FXStreet data Silver prices (XAG/USD) rose on Tuesday, according to FXStreet...

USD/JPY traded higher this week after PM Ishiba told parliament that the government is not considering revising a long-standing agreement between BoJ and the government as Japan has not escaped deflation...

USD/JPY traded higher this week after PM Ishiba told parliament that the government is not considering revising a long-standing agreement between BoJ and the government as Japan has not escaped deflation...

Chart-based strategies leverage patterns, levels, and indicators to create actionable trading plans. These strategies are often tailored to specific market conditions like trending or ranging markets. Below are some of the most common and effective chart-based trading strategies in forex.

Chart-based strategies leverage patterns, levels, and indicators to create actionable trading plans. These strategies are often tailored to specific market conditions like trending or ranging markets. Below are some of the most common and effective chart-based trading strategies in forex.

US Dollar (USD) traded a subdued range overnight in absence of key catalyst. Fedspeaks go into blackout so that puts the focus on data before FOMC next Thursday (19 December). DXY was last at 106.35, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

US Dollar (USD) traded a subdued range overnight in absence of key catalyst. Fedspeaks go into blackout so that puts the focus on data before FOMC next Thursday (19 December). DXY was last at 106.35, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Inflation numbers from Hungary this morning should show an increase from 3.2% to 3.8% YoY, slightly above market expectations, and in line with the National Bank of Hungary (NBH) forecast, ING’s FX analyst Frantisek Taborsky notes.

Inflation numbers from Hungary this morning should show an increase from 3.2% to 3.8% YoY, slightly above market expectations, and in line with the National Bank of Hungary (NBH) forecast, ING’s FX analyst Frantisek Taborsky notes.

Danish card data suggests that spending excluding energy increased by 4.5% in November compared to the same month the year before. Adjusting for inflation, spending excluding energy increased by 3.1%. This confirms the trend from October, of a pickup in spending, after a very weak six months.

Danish card data suggests that spending excluding energy increased by 4.5% in November compared to the same month the year before. Adjusting for inflation, spending excluding energy increased by 3.1%. This confirms the trend from October, of a pickup in spending, after a very weak six months.

Last week's stronger-than-expected US jobs report (227K vs 200K forecast) dominated market sentiment. Looking ahead, traders focus on crucial central bank meetings, with the ECB and SNB convening this week, followed by the Fed, BOJ, and BOE next week.

Last week's stronger-than-expected US jobs report (227K vs 200K forecast) dominated market sentiment. Looking ahead, traders focus on crucial central bank meetings, with the ECB and SNB convening this week, followed by the Fed, BOJ, and BOE next week.

Oil volatility, as measured by the CBOE Crude Oil Volatility Index ($OVX), is rebounding after reaching its lowest level since July last Monday. This uptick signals renewed uncertainty in the oil market, with traders adjusting to shifting supply-demand dynamics and broader market conditions.

Oil volatility, as measured by the CBOE Crude Oil Volatility Index ($OVX), is rebounding after reaching its lowest level since July last Monday. This uptick signals renewed uncertainty in the oil market, with traders adjusting to shifting supply-demand dynamics and broader market conditions.

According to Bank of America's latest FX and Rates Sentiment Survey, market expectations for a near-term Bank of Japan (BoJ) rate hike are rising. Nearly 30% of respondents believe the BoJ will hike rates this week, while 45% expect the move to come in January. Additionally, 10% remain uncertain, reflecting high expectations for a rate hike by January. This survey highlights growing market anticipation of policy shifts from the BoJ, which could significantly impact the yen and global financial markets.

According to Bank of America's latest FX and Rates Sentiment Survey, market expectations for a near-term Bank of Japan (BoJ) rate hike are rising. Nearly 30% of respondents believe the BoJ will hike rates this week, while 45% expect the move to come in January. Additionally, 10% remain uncertain, reflecting high expectations for a rate hike by January. This survey highlights growing market anticipation of policy shifts from the BoJ, which could significantly impact the yen and global financial markets.

#Prediction 1. Expected Movement: Retake 153.00, driven by fading hopes of a Bank of Japan (BoJ) rate hike. 2. Key Factors: BoJ's monetary policy, US Dollar advance.

#Prediction 1. Expected Movement: Retake 153.00, driven by fading hopes of a Bank of Japan (BoJ) rate hike. 2. Key Factors: BoJ's monetary policy, US Dollar advance.

The 3-month/10-year yield curve, widely regarded as a more reliable recession indicator compared to the 2-year/10-year curve, has demonstrated a significant shift in recent weeks. Historically, the last four recessions have tended to follow a few months after this curve uninverts. Notably, prior to these instances, the curve typically moved back into positive territory only after a recession had already begun. Since late September, the 3-month/10-year curve has undergone a dramatic resteepening, gaining 21 basis points week-on-week and transitioning into positive territory for the first time since October 2022. As of the latest data, the curve stands at +0.06%, marking a substantial increase of 1.19% since September 11th. This notable move underscores the rapid changes in market expectations and economic sentiment.

The 3-month/10-year yield curve, widely regarded as a more reliable recession indicator compared to the 2-year/10-year curve, has demonstrated a significant shift in recent weeks. Historically, the last four recessions have tended to follow a few months after this curve uninverts. Notably, prior to these instances, the curve typically moved back into positive territory only after a recession had already begun. Since late September, the 3-month/10-year curve has undergone a dramatic resteepening, gaining 21 basis points week-on-week and transitioning into positive territory for the first time since October 2022. As of the latest data, the curve stands at +0.06%, marking a substantial increase of 1.19% since September 11th. This notable move underscores the rapid changes in market expectations and economic sentiment.

Prediction Expected Movement: Pressure on the British Pound due to disappointing macroeconomic data, pushing GBP/USD towards 1.2600. Key Factors: US Dollar demand, UK's October GDP data.

Prediction Expected Movement: Pressure on the British Pound due to disappointing macroeconomic data, pushing GBP/USD towards 1.2600. Key Factors: US Dollar demand, UK's October GDP data.

# EUR/USD 1. Expected Movement: Resume its slide below 1.0500, potentially falling towards 1.0400. 2. Key Factors: European Central Bank's (ECB) decision on interest rates, US Dollar demand.

# EUR/USD 1. Expected Movement: Resume its slide below 1.0500, potentially falling towards 1.0400. 2. Key Factors: European Central Bank's (ECB) decision on interest rates, US Dollar demand.

# Prediction Summary The USD/CHF pair is expected to trade within a narrow range, with a potential bias towards stability due to the SNB's interventions. However, any significant developments in US economic indicators or global market sentiment could impact the currency pair's movement. # Key Levels to Watch 1. Resistance: 0.9350, a key technical level that has capped gains in recent sessions. 2. Support: 0.9250, a level that has provided support in recent trading sessions. Please note that currency market predictions are subject to change and may not reflect actual market performance.

# Prediction Summary The USD/CHF pair is expected to trade within a narrow range, with a potential bias towards stability due to the SNB's interventions. However, any significant developments in US economic indicators or global market sentiment could impact the currency pair's movement. # Key Levels to Watch 1. Resistance: 0.9350, a key technical level that has capped gains in recent sessions. 2. Support: 0.9250, a level that has provided support in recent trading sessions. Please note that currency market predictions are subject to change and may not reflect actual market performance.

# Prediction Based on the analysis, here are possible scenarios for tomorrow's EUR/USD price action: 1. Range-bound trading: EUR/USD might continue to trade within the 1.0800-1.1000 range, with a slight bias towards the upside. 2. Breakout: If US retail sales data surprises to the upside, EUR/USD might break below 1.0850. Conversely, if Eurozone industrial production data exceeds expectations, EUR/USD might break above 1.0950. 3. Volatility: Market reactions to economic data releases might lead to increased volatility, causing EUR/USD to fluctuate rapidly. # Key Levels to Watch 1. 1.0850 (support): a break below could lead to further losses 2. 1.0950 (resistance): a break above could lead to gains 3. 1.0800 (support): a key level to watch if EUR/USD breaks below 1.0850 4. 1.1000 (resistance): a significant level to watch if EUR/USD breaks above 1.0950 Please note that this analysis is for informational purposes only and should not be considered investment advice. Currency markets are inherently unpredictable, and actual price action may differ from predictions.

# Prediction Based on the analysis, here are possible scenarios for tomorrow's EUR/USD price action: 1. Range-bound trading: EUR/USD might continue to trade within the 1.0800-1.1000 range, with a slight bias towards the upside. 2. Breakout: If US retail sales data surprises to the upside, EUR/USD might break below 1.0850. Conversely, if Eurozone industrial production data exceeds expectations, EUR/USD might break above 1.0950. 3. Volatility: Market reactions to economic data releases might lead to increased volatility, causing EUR/USD to fluctuate rapidly. # Key Levels to Watch 1. 1.0850 (support): a break below could lead to further losses 2. 1.0950 (resistance): a break above could lead to gains 3. 1.0800 (support): a key level to watch if EUR/USD breaks below 1.0850 4. 1.1000 (resistance): a significant level to watch if EUR/USD breaks above 1.0950 Please note that this analysis is for informational purposes only and should not be considered investment advice. Currency markets are inherently unpredictable, and actual price action may differ from predictions.

Continuation Pattern Formation A continuation pattern is a temporary pause in a prevailing trend, characterized by a specific series of price movements. Traders identify these patterns within an existing trend, anticipating that the trend will resume once the pattern is complete.

Continuation Pattern Formation A continuation pattern is a temporary pause in a prevailing trend, characterized by a specific series of price movements. Traders identify these patterns within an existing trend, anticipating that the trend will resume once the pattern is complete.

Picture yourself behind the wheel of a supercar, wearing a Rolex, or owning a private island, all made possible through savvy trading. With the right skills and strategy, the forex market opens doors to unparalleled wealth and freedom. It's not just about profits; it’s about the lifestyle that comes with mastering the markets. Discover how forex trading can turn your wildest dreams into reality.

Picture yourself behind the wheel of a supercar, wearing a Rolex, or owning a private island, all made possible through savvy trading. With the right skills and strategy, the forex market opens doors to unparalleled wealth and freedom. It's not just about profits; it’s about the lifestyle that comes with mastering the markets. Discover how forex trading can turn your wildest dreams into reality.

In Forex, currencies are traded in pairs, with one currency being exchanged for another. For example, the EUR/USD pair represents the Euro against the US Dollar. The first currency in the pair is the base currency, while the second is the quote currency.

In Forex, currencies are traded in pairs, with one currency being exchanged for another. For example, the EUR/USD pair represents the Euro against the US Dollar. The first currency in the pair is the base currency, while the second is the quote currency.

Foreign exchange rates represent the exchange rate between two currencies, showing how much one currency can be exchanged for another. For example: If USD/CNY = 7.20, it means 1 USD equals 7.20 CNY (Chinese Yuan). If EUR/USD = 1.10, it means 1 EUR equals 1.10 USD. Basic Types of Forex Rate Quotes Direct Quote: The value of 1 unit of foreign currency is expressed in terms of the domestic currency. Example: In China, USD/CNY = 7.20 is a direct quote. Indirect Quote: The value of 1 unit of domestic currency is expressed in terms of foreign currency. Example: In the U.S., CNY/USD = 0.14 is an indirect quote. Base Currency and Quote Currency Forex rates are usually expressed in the form of Base Currency/Quote Currency. The base currency is always set to 1 unit, and the quote currency represents its value. For example, EUR/USD = 1.10 means 1 Euro is worth 1.10 USD. --- How to Read Forex Exchange Rate Charts? Forex charts display the fluctuations of exchange rates over time, helping traders identify market trends. Here's how to read and analyze them: Basic Components of Forex Charts: 1. Price Axis (Y-Axis): Shows the exchange rate of the currency pair, e.g., EUR/USD fluctuating between 1.1000 and 1.1500. 2. Time Axis (X-Axis): Shows the time period (e.g., minutes, hours, days, weeks, or months). 3. Candlestick Chart: A popular type of chart where each candlestick represents a specific time period. Each candlestick provides four key price points: Open: The opening price for the time period. Close: The closing price for the time period. High: The highest price during the period. Low: The lowest price during the period. Color Interpretation: Green (or White): Indicates that the close price is higher than the open price (uptrend). Red (or Black): Indicates that the close price is lower than the open price (downtrend). Time Periods: Short-term traders: Focus on 1-minute, 5-minute, or 15-minute charts. Medium-term traders: Focus on 1-hour, 4-hour, or daily charts. Long-term investors: Prefer weekly or monthly charts. --- Forex Chart Analysis Techniques 1. Trend Analysis: Uptrend (Bullish Market): The exchange rate consistently rises, and the candlesticks form an upward staircase. Downtrend (Bearish Market): The exchange rate consistently falls, and the candlesticks form a downward staircase. Sideways/Consolidating Market: The exchange rate fluctuates within a narrow range without a clear direction. 2. Technical Indicators: Moving Average (MA): Reflects the average price over a period. A short-term moving average (e.g., MA10) crossing above a long-term moving average (e.g., MA50) may signal a buy. RSI (Relative Strength Index): Measures whether the market is overbought or oversold. RSI above 70 indicates overbought, below 30 indicates oversold. MACD (Moving Average Convergence Divergence): Helps identify price trends and reversal points. 3. Support and Resistance Levels: Support Level: A price level where the market tends to stop falling and may reverse upwards. Resistance Level: A price level where the market tends to stop rising and may reverse downwards. --- Example: EUR/USD Forex Chart Analysis Suppose the EUR/USD chart shows the following: Current Price: 1.1000 Timeframe: Daily Chart Trend: If the price has been rising consistently, it indicates an uptrend, with the Euro strengthening against the Dollar. Key Levels: If the price repeatedly struggles to break 1.1200 and falls back, 1.1200 is a strong resistance level. Indicators: RSI shows 80, indicating an overbought market, suggesting a potential short-term pullback. --- Common Forex Chart Platforms MetaTrader 4/5: Professional trading platforms offering advanced charting and analysis tools. TradingView: An online charting platform that offers real-time data for various currency pairs. Broker Trading Platforms: Platforms like Interactive Brokers, OANDA, and others also offer charting tools for traders. These platforms allow users to easily view forex exchange rate charts and combine them with technical indicators for in-depth analysis.

Foreign exchange rates represent the exchange rate between two currencies, showing how much one currency can be exchanged for another. For example: If USD/CNY = 7.20, it means 1 USD equals 7.20 CNY (Chinese Yuan). If EUR/USD = 1.10, it means 1 EUR equals 1.10 USD. Basic Types of Forex Rate Quotes Direct Quote: The value of 1 unit of foreign currency is expressed in terms of the domestic currency. Example: In China, USD/CNY = 7.20 is a direct quote. Indirect Quote: The value of 1 unit of domestic currency is expressed in terms of foreign currency. Example: In the U.S., CNY/USD = 0.14 is an indirect quote. Base Currency and Quote Currency Forex rates are usually expressed in the form of Base Currency/Quote Currency. The base currency is always set to 1 unit, and the quote currency represents its value. For example, EUR/USD = 1.10 means 1 Euro is worth 1.10 USD. --- How to Read Forex Exchange Rate Charts? Forex charts display the fluctuations of exchange rates over time, helping traders identify market trends. Here's how to read and analyze them: Basic Components of Forex Charts: 1. Price Axis (Y-Axis): Shows the exchange rate of the currency pair, e.g., EUR/USD fluctuating between 1.1000 and 1.1500. 2. Time Axis (X-Axis): Shows the time period (e.g., minutes, hours, days, weeks, or months). 3. Candlestick Chart: A popular type of chart where each candlestick represents a specific time period. Each candlestick provides four key price points: Open: The opening price for the time period. Close: The closing price for the time period. High: The highest price during the period. Low: The lowest price during the period. Color Interpretation: Green (or White): Indicates that the close price is higher than the open price (uptrend). Red (or Black): Indicates that the close price is lower than the open price (downtrend). Time Periods: Short-term traders: Focus on 1-minute, 5-minute, or 15-minute charts. Medium-term traders: Focus on 1-hour, 4-hour, or daily charts. Long-term investors: Prefer weekly or monthly charts. --- Forex Chart Analysis Techniques 1. Trend Analysis: Uptrend (Bullish Market): The exchange rate consistently rises, and the candlesticks form an upward staircase. Downtrend (Bearish Market): The exchange rate consistently falls, and the candlesticks form a downward staircase. Sideways/Consolidating Market: The exchange rate fluctuates within a narrow range without a clear direction. 2. Technical Indicators: Moving Average (MA): Reflects the average price over a period. A short-term moving average (e.g., MA10) crossing above a long-term moving average (e.g., MA50) may signal a buy. RSI (Relative Strength Index): Measures whether the market is overbought or oversold. RSI above 70 indicates overbought, below 30 indicates oversold. MACD (Moving Average Convergence Divergence): Helps identify price trends and reversal points. 3. Support and Resistance Levels: Support Level: A price level where the market tends to stop falling and may reverse upwards. Resistance Level: A price level where the market tends to stop rising and may reverse downwards. --- Example: EUR/USD Forex Chart Analysis Suppose the EUR/USD chart shows the following: Current Price: 1.1000 Timeframe: Daily Chart Trend: If the price has been rising consistently, it indicates an uptrend, with the Euro strengthening against the Dollar. Key Levels: If the price repeatedly struggles to break 1.1200 and falls back, 1.1200 is a strong resistance level. Indicators: RSI shows 80, indicating an overbought market, suggesting a potential short-term pullback. --- Common Forex Chart Platforms MetaTrader 4/5: Professional trading platforms offering advanced charting and analysis tools. TradingView: An online charting platform that offers real-time data for various currency pairs. Broker Trading Platforms: Platforms like Interactive Brokers, OANDA, and others also offer charting tools for traders. These platforms allow users to easily view forex exchange rate charts and combine them with technical indicators for in-depth analysis.