The AUD/USD pair declined by 1.25% to 0.6600 on Friday, continuing its downtrend. The renewed strength of the US Dollar weighs on the pair despite improved risk sentiment. However, the hawkish stance of the Reserve Bank of Australia (RBA) and expectations of additional Chinese stimulus could support the Aussie. The AUD/USD pair experienced volatility amid the recent US presidential election and RBA's monetary policy stance. Trump's election victory initially triggered a decline in the Aussie, but the RBA's hawkish stance stabilized the currency. The RBA's emphasis on restrictive interest rates and positive signs from China have provided support.

The AUD/USD pair declined by 1.25% to 0.6600 on Friday, continuing its downtrend. The renewed strength of the US Dollar weighs on the pair despite improved risk sentiment. However, the hawkish stance of the Reserve Bank of Australia (RBA) and expectations of additional Chinese stimulus could support the Aussie. The AUD/USD pair experienced volatility amid the recent US presidential election and RBA's monetary policy stance. Trump's election victory initially triggered a decline in the Aussie, but the RBA's hawkish stance stabilized the currency. The RBA's emphasis on restrictive interest rates and positive signs from China have provided support.

Ethereum could begin to look attractive to investors again due to the combined effect of the Fed’s 25 bps rate cut and Donald Trump's victory in the presidential election. The Fed reduced interest rates by 25 basis points on Thursday, following an earlier 50 bps cut in September. This has taken the agency's benchmark rates to 4.5%. According to CoinDesk's Omkar Dobole, the US previous high interest rate environment is partly responsible for ETH's underperformance since the beginning of the year. While ETH only rose by a mere 30% in 2024, Bitcoin and Solana gained over 80% and 95% within the same time frame.

Ethereum could begin to look attractive to investors again due to the combined effect of the Fed’s 25 bps rate cut and Donald Trump's victory in the presidential election. The Fed reduced interest rates by 25 basis points on Thursday, following an earlier 50 bps cut in September. This has taken the agency's benchmark rates to 4.5%. According to CoinDesk's Omkar Dobole, the US previous high interest rate environment is partly responsible for ETH's underperformance since the beginning of the year. While ETH only rose by a mere 30% in 2024, Bitcoin and Solana gained over 80% and 95% within the same time frame.

Ethereum has seen nearly $64.97 million in liquidations in the past 24 hours, with liquidated long and short positions accounting for $18.01 million and $46.96 million, respectively, per Coinglass data. On the daily chart, ETH is testing the 100-day Simple Moving Average (SMA) near the $3,000 psychological level. If ETH crosses above this SMA, it could rally to test the resistance near $3,366. However, a rejection at this level could see ETH decline to the $2,817 support level.

Ethereum has seen nearly $64.97 million in liquidations in the past 24 hours, with liquidated long and short positions accounting for $18.01 million and $46.96 million, respectively, per Coinglass data. On the daily chart, ETH is testing the 100-day Simple Moving Average (SMA) near the $3,000 psychological level. If ETH crosses above this SMA, it could rally to test the resistance near $3,366. However, a rejection at this level could see ETH decline to the $2,817 support level.

Understanding the economic calendar is essential. Major news events can cause significant volatility. Plan your trades accordingly and be ready for unexpected moves.

Understanding the economic calendar is essential. Major news events can cause significant volatility. Plan your trades accordingly and be ready for unexpected moves.

After dropping below the lower limit of the ascending regression channel coming from June, Gold found support and returned within this channel. The Relative Strength Index (RSI) indicator on the daily chart, however, failed to push higher after recovering to 50, reflecting buyers’ hesitancy. On the downside, key support area seems to have formed at $2,680-$2,675, where the Fibonacci 23.6% retracement of the uptrend and the lower limit of the ascending channel meet, ahead of the 50-day Simple Moving Average (SMA) at $2,640. A daily close below this support could open the door for another leg lower toward $2,600. Looking north, the first resistance could be spotted at $2,720 (20-day SMA). In case XAU/USD flips that level into support, technical buyers could take action. In this scenario, $2,760 (mid-point of the ascending channel) could be seen as the next hurdle before $2,790 (record-high).

After dropping below the lower limit of the ascending regression channel coming from June, Gold found support and returned within this channel. The Relative Strength Index (RSI) indicator on the daily chart, however, failed to push higher after recovering to 50, reflecting buyers’ hesitancy. On the downside, key support area seems to have formed at $2,680-$2,675, where the Fibonacci 23.6% retracement of the uptrend and the lower limit of the ascending channel meet, ahead of the 50-day Simple Moving Average (SMA) at $2,640. A daily close below this support could open the door for another leg lower toward $2,600. Looking north, the first resistance could be spotted at $2,720 (20-day SMA). In case XAU/USD flips that level into support, technical buyers could take action. In this scenario, $2,760 (mid-point of the ascending channel) could be seen as the next hurdle before $2,790 (record-high).

Forex is 80% psychology and 20% strategy. If you can master your emotions, you’ve already won half the battle.

Forex is 80% psychology and 20% strategy. If you can master your emotions, you’ve already won half the battle.

Stock markets in the US will remain open on Veterans Day on Monday but bond markets will be closed, limiting the market volatility at the beginning of next week. On Wednesday, The US Bureau of Labor Statistics (BLS) will publish Consumer Price Index (CPI) data for October. Investors expect the CPI and the core CPI, which excludes volatile food and energy prices, to rise by 0.2% and 0.3%, respectively, on a monthly basis. In case the core CPI increases at a softer pace than forecast, the USD could weaken against its rivals with the immediate reaction. On the other hand, an increase of 0.3%, or bigger, in the monthly core CPI could make it difficult for XAU/USD to hold its ground. Meanwhile, market participants will scrutinize comments from Fed policymakers now that the blackout period is over. The CME FedWatch Tool shows that markets are pricing in about a 70% chance of another 25 bps rate cut in December. If Fed officials adopt a more cautious tone on further policy easing, citing the potential inflationary effects of Trump policies, US T-bond yields could start pushing higher and weigh on XAU/USD.

Stock markets in the US will remain open on Veterans Day on Monday but bond markets will be closed, limiting the market volatility at the beginning of next week. On Wednesday, The US Bureau of Labor Statistics (BLS) will publish Consumer Price Index (CPI) data for October. Investors expect the CPI and the core CPI, which excludes volatile food and energy prices, to rise by 0.2% and 0.3%, respectively, on a monthly basis. In case the core CPI increases at a softer pace than forecast, the USD could weaken against its rivals with the immediate reaction. On the other hand, an increase of 0.3%, or bigger, in the monthly core CPI could make it difficult for XAU/USD to hold its ground. Meanwhile, market participants will scrutinize comments from Fed policymakers now that the blackout period is over. The CME FedWatch Tool shows that markets are pricing in about a 70% chance of another 25 bps rate cut in December. If Fed officials adopt a more cautious tone on further policy easing, citing the potential inflationary effects of Trump policies, US T-bond yields could start pushing higher and weigh on XAU/USD.

Gold started the week in a calm manner and registered small gains on Monday and Tuesday as markets refrained from taking large positions ahead of the week’s key risk events. During the Asian trading hours on Wednesday, the US Dollar (USD) started to gather strength against its rivals and caused XAU/USD to turn south. News of Donald Trump retaking battleground states Georgia and North Carolina triggered a rally in the US Treasury bond yields, further weighing on the Gold price. In the early European session, news outlets started calling Pennsylvania for Trump, a swing state that was widely seen as Kamala Harris’ only chance to turn the election around, all but officially confirming the winner. Republicans also gained the majority in the Senate and looked on track to take control of the House, fuelling another leg higher in US yields and the USD. Gold broke below $2,700 and fell 3% on a daily basis to register its largest one-day loss of the year.

Gold started the week in a calm manner and registered small gains on Monday and Tuesday as markets refrained from taking large positions ahead of the week’s key risk events. During the Asian trading hours on Wednesday, the US Dollar (USD) started to gather strength against its rivals and caused XAU/USD to turn south. News of Donald Trump retaking battleground states Georgia and North Carolina triggered a rally in the US Treasury bond yields, further weighing on the Gold price. In the early European session, news outlets started calling Pennsylvania for Trump, a swing state that was widely seen as Kamala Harris’ only chance to turn the election around, all but officially confirming the winner. Republicans also gained the majority in the Senate and looked on track to take control of the House, fuelling another leg higher in US yields and the USD. Gold broke below $2,700 and fell 3% on a daily basis to register its largest one-day loss of the year.

Use demo accounts before you go live. It’s the best way to test strategies without risking real money.

Use demo accounts before you go live. It’s the best way to test strategies without risking real money.

Use demo accounts before you go live. It’s the best way to test strategies without risking real money.

Use demo accounts before you go live. It’s the best way to test strategies without risking real money.

Understanding the economic calendar is essential. Major news events can cause significant volatility. Plan your trades accordingly and be ready for unexpected moves.

Understanding the economic calendar is essential. Major news events can cause significant volatility. Plan your trades accordingly and be ready for unexpected moves.

Understanding the economic calendar is essential. Major news events can cause significant volatility. Plan your trades accordingly and be ready for unexpected moves.

Understanding the economic calendar is essential. Major news events can cause significant volatility. Plan your trades accordingly and be ready for unexpected moves.

Don’t fall for the 'one-size-fits-all' strategy. Customize your approach based on your risk tolerance and trading style.

Don’t fall for the 'one-size-fits-all' strategy. Customize your approach based on your risk tolerance and trading style.

Don’t fall for the 'one-size-fits-all' strategy. Customize your approach based on your risk tolerance and trading style.

Don’t fall for the 'one-size-fits-all' strategy. Customize your approach based on your risk tolerance and trading style.

When you've been trading all week and the weekend feels like a vacation.

When you've been trading all week and the weekend feels like a vacation.

Successful trading isn't about being right all the time; it's about managing risk and protecting your capital. Never forget your stop loss!

Successful trading isn't about being right all the time; it's about managing risk and protecting your capital. Never forget your stop loss!

When you think you'll sleep, but you can't resist checking the charts one more time.

When you think you'll sleep, but you can't resist checking the charts one more time.

GBP/USD is currently within its sixth week lower, a bearish sequence not seen for just over a year. This week’s range overlaps last to show a lack of progress for bears, and if it were to close the week around current levels it would be deemed a long-legged doji. This week’s low has also respected the 200-week SMA as support, which is a decent level of potential support. Asset managers flipped to net-short exposure two weeks ago and large speculators reduced net-long exposure to a 6-week low. Yet the moves have mostly been down to a closure of longs as opposed to a surge in short bets against the pound. I’m therefore inclined to bet that longs could pick up over the near-term and support the pound, unless they surprise with a dovish cut today.

GBP/USD is currently within its sixth week lower, a bearish sequence not seen for just over a year. This week’s range overlaps last to show a lack of progress for bears, and if it were to close the week around current levels it would be deemed a long-legged doji. This week’s low has also respected the 200-week SMA as support, which is a decent level of potential support. Asset managers flipped to net-short exposure two weeks ago and large speculators reduced net-long exposure to a 6-week low. Yet the moves have mostly been down to a closure of longs as opposed to a surge in short bets against the pound. I’m therefore inclined to bet that longs could pick up over the near-term and support the pound, unless they surprise with a dovish cut today.

The technical picture looks less dire for GBP/JPY in the near-term with the price remaining in an uptrend first established in late September. However, having been unable to clear resistance overhead at 199.50 over recent weeks, downside risks may be building. It’s yet to be completed, but the three-candle pattern resembles an evening star formation. RSI (14) is trending lower while MACD has rolled over, providing bearish signals on price momentum. If the price were to break the uptrend, 196 is a level that has provided both support and resistance at points this year. Below, the 200 and 50-day moving averages are other potential targets, as is 189.59 and 188.00. Alternatively, if we were to see the price break convincingly above 199.50, 201.95 and 203.85 are two levels of note.

The technical picture looks less dire for GBP/JPY in the near-term with the price remaining in an uptrend first established in late September. However, having been unable to clear resistance overhead at 199.50 over recent weeks, downside risks may be building. It’s yet to be completed, but the three-candle pattern resembles an evening star formation. RSI (14) is trending lower while MACD has rolled over, providing bearish signals on price momentum. If the price were to break the uptrend, 196 is a level that has provided both support and resistance at points this year. Below, the 200 and 50-day moving averages are other potential targets, as is 189.59 and 188.00. Alternatively, if we were to see the price break convincingly above 199.50, 201.95 and 203.85 are two levels of note.

When you finish reading every forex book... but the market still makes no sense.

When you finish reading every forex book... but the market still makes no sense.