Technical Analysis & Forecast 22.11.2023
EURUSD is forming a movement to 1.0894 inside a decline wave today. Upon reaching this level, the pair could form a growth link to 1.0929. Practically, a wide consolidation range is emerging around this level. The market could try to extend the range to 1.0990. Next, the quotes might drop to its lower boundary at 1.0824. This is the first target.
OpenAI upheaval triggers new all-time high in MSFT
Investors in Microsoft were on edge this weekend as Sam Altman, the CEO of OpenAI, was let go. Greg Brockman, another OpenAI co-founder and a key player at Open AI, opted to leave following the news.
Ichimoku Cloud Analysis 22.11.2023 (GBPUSD, USDCAD, NZDUSD)
GBPUSD is correcting after setting a new local high. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2440 is expected, followed by a rise to 1.2645. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2325, which will mean a further decline to 1.2230.
GBP/USD slides amid US inflation concerns, mixed UK economic outlook
The GBP/USD tumbles during the mid-North American session after economic data from the United States (US) suggested the battle against inflation is not done while the economy continues to decelerate, as sought by the US Federal Reserve (Fed). At the time of writing, the pair is trading at 1.2456, losing 0.63%.
Bank of Canada says rates may be at peak, excess demand now gone
Bank of Canada Governor Tiff Macklem said on Wednesday that interest rates might be at their peak, given excess demand has vanished and weak growth is expected to persist for many months.
11/23Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
WCG Markets:2023-11-23
WCG Markets:2023-11-23
11/22 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：The Fed hinted that policies would need to remain “restrictive” due to concerns that inflation may stubbornly or modestly rise.
At the end of the Asian market on Wednesday (November 22), the latest minutes of the November Fed meeting showed that the Fed hinted that policies would need to remain "restrictive" due to concerns that inflation may stubbornly or modestly rise.
MHMarkets：November 22, 2023--Fundamental Reminder
The dollar index pared losses on Tuesday as the Fed minutes indicated it would maintain its restrictive policy for a long time. It fell as low as 103.17,
The minutes of the Federal Reserve meeting have limited impact on precious metals, with long and short vying for the 2000 level;
The minutes of the Federal Reserve meeting have limited impact on precious metals, with long and short vying for the 2000 level;
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11/21 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：Fed's Balkin stated that this is not a great time to provide forward guidance on interest rates.
At the end of the Asian market on Tuesday (November 21), according to CME's "Fed Watch", the probability of the Fed maintaining interest rates unchanged in the 5.25%-5.50% range in December is 99.8%, and the probability of a 25 basis point rate cut is 0.2%.
MHMarkets：November 21, 2023--Fundamental Reminder
The dollar index extended its downward trend on Monday, falling as low as 103.37, a near two-month low, before ending down 0.31% at 103.49. Us Treasury yields fell first and then rose. The yield on the 10-year Treasury note closed at 4.426%; The yield on the two-year Treasury note, which is more sensitive to the Fed's policy rate, rose above 4.9% before closing at 4.919%.
Weak US inflation data Market expected the Fed interest rates approaching to the peak The US dollar kept felling
Weak US inflation data Market expected the Fed interest rates approaching to the peak The US dollar kept felling
OPEC forecast supported the oil market
Oil prices increased their growth on Monday evening after the publication of an updated OPEC forecast regarding the prospects for global fuel demand. The current price of Brent oil is $82.80 per barrel. Before the forecast was published, the asset was trading near $80.50.
Gold Price Starts Correction, US CPI Next
Gold prices started a downside correction from the $2,010 zone. • A major declining channel is forming with resistance near $1,945 on the 4-hour chart. • Crude oil prices are attempting a recovery wave from the $75.00 zone.
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