Mastering Forex Market Hours: A Guide for Traders

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For those venturing into the exciting world of forex trading, understanding the dynamics of forex market hours is crucial. The global forex market operates 24 hours a day, providing ample opportunities for traders worldwide. In this article, we will explore the significance of forex market hours, the four major trading sessions, and the best times […]

Euro and Pound Struggle to Gain Momentum as USD Rises

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Forex Market Analysis: EURUSD and GBPUSD EURUSD and GBPUSD struggled at the beginning of the week, with the US Dollar showing strength and preventing upward movements for the Euro and Pound following Friday’s decline. Despite strong US jobs data, market expectations for the US Federal Reserve’s June meeting have become more dovish, with a 70% […]

Japanese Yen’s Resilience Amid Policy Stance

The Japanese Yen Price Action Setup

The Japanese Yen has managed to surprise and intrigue market participants who were expecting a policy shift from the Bank of Japan (BoJ) with the arrival of Governor Ueda. However, Governor Ueda remains steadfast in his position that a change in policy is not imminent. Despite this, recent comments from Governor Ueda and the Japanese […]

Japanese Authorities Vigilant of Japanese Yen Volatility

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The Bank of Japan (BoJ) plans to maintain its ultra-loose monetary policy as Governor Ueda reaffirms the need for accommodative measures until sustainable inflation of 2% is achieved. Expectations are that price pressures will decrease significantly by the middle of next year. This stance aligns with the central bank’s commitment to continue large-scale monetary easing […]

DAX and USD/JPY Show Mixed Outlook Amid Global Economic Concerns

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DAX Index Faces Headwinds on China’s Growth Worries and German Inflation Data The DAX index has experienced a downward trend for the past three consecutive days and six out of the last seven sessions. Alongside other European equities, the DAX is being affected by mounting concerns regarding the economic recovery in China and increasing fears […]

Gold Price (XAU/USD) Slips Below $1,960 as US Dollar Gains Strength

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During the Asian session, the price of gold (XAU/USD) faced downward pressure and fell below the $1,960.00 level. This decline was driven by the US Dollar Index (DXY), which is aiming to reach a 10-week high of 104.00. The strength of the USD Index is primarily due to ongoing uncertainty surrounding US debt-ceiling negotiations between […]

Canadian Dollar Weakening Despite Strong Crude Oil Prices: USD/CAD Price Forecast

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Fundamental Background of the Canadian Dollar The Canadian dollar’s performance is closely tied to the ongoing negotiations regarding the US debt ceiling, which has resulted in increased support for the US dollar (USD). Additionally, the recent rally in crude oil prices has somewhat limited the upside potential for USD/CAD bulls before the start of the […]

Dollar Retreats from Five-Week Highs as Investors Secure Profits

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Dollar Retreats in European Trade: Breaking Five-Week High Streak In European trade, the dollar experienced a decline, breaking its three-session streak of reaching five-week highs, as investors engaged in active profit-taking. The focus now shifts to crucial remarks from Federal Reserve officials, particularly Fed Chair Jerome Powell, and upcoming US data that will provide insights […]

EU’s Perspective on Forex Trading with Currency Correlations

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In forex trading, understanding the relationship between currency pairs is critical for success. One of the key aspects of this relationship is currency correlations, which measure how two or more currencies move concerning each other. This article, published originally on The Portugal News website, explores the concept of currency correlations in forex trading from the […]

Euro Falls from Two-Week High Amid Profit-Taking

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The euro retreated from its two-week high against the US dollar, experiencing its first loss in four days due to profit-taking, according to a recent article on Economies.com. The euro had previously climbed above $1.1, with bullish comments from ECB officials further bolstering its prospects for a rate hike of 0.5% this week, pushing it […]