Bitcoin Remains MutedIt’s been a disappointing week for Bitcoin bulls with the leading crypto asset seen lower on the back of the April halving event. There had been plenty of speculation ahead of the event regarding the potential for a
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The likelihood of any reduction in interest rates is low as the market awaits the commencement of the upcoming FOMC meeting. CME data shows that 97.3% of respondents believe that rates will stay the same. On Monday the S&P 500 closed
The year 2024 may be seen as the time the Bank of Japan’s “free lunch” came to an end. For decades, the Bank of Japan (BoJ) ran a zero interest rate policy (ZIRP) that even descended into negative rates in 2016. The
While Japan is suspected of intervening in the foreign exchange (FX) market, no official confirmation has been provided yet. Data regarding intervention activities for yesterday will likely be released at the end of May. Additional support for the yen may
Bullish view Buy the AUD/USD pair and set a take-profit at 0.6600. Add a stop-loss at 0.6500. Timeline: 1-2 days. Bearish view Set a sell-stop at 0.6550 and a take-profit at 0.6500. Add a stop-loss at 0.6600. The Australian dollar
Soybeans Elliott Wave Analysis Function – Trend Mode – Impulse Structure – Impulse for (5) Position – Wave 2 of (5) Direction – Wave 3 of (5) Details – Wave 2 of (5) may have been completed and the price is
Last week saw both gold and silver close lower as investors finally responded to the recent strength of the US dollar and reduced Fed rate cut bets amid hot inflation data. This week, we will have plenty of US macro
Copper Breaking OutThe rally in copper prices continues this week with copper futures breaking out to fresh highs for the year across early trading on Monday. The market has been on a tear this year with futures now up around
Ethereum chart analysisOver the weekend we saw a bullish consolidation of Ethereum price from $3069 to $3355 level. On Sunday, the price formed a new high, after which we stopped there and initiated a pullback. Soon, the first bearish impulse was seen
Bullish view Buy the GBP/USD pair and set a take-profit at 1.2545. Add a stop-loss at 1.2450. Timeline: 1-2 days. Bearish view Set a sell-stop at 1.2475 and a take-profit at 1.2400. Add a stop-loss at 1.2550. The GBP/USD pair wavered on
