Forex Trading - RichDadph

2022-11-25 12:35:46 Dollar edges lower; weekly loss looms on dovish Fed
https://ph.investing.com/news/forex-news/dollar-edges-lower-weekly-loss-looms-on-dovish-fed-747609 Open / Comment

2022-11-25 12:32:08 #USDCHF Intraday: 30MIN Chart
Bullish bias above 0.9410.

Our preference:
Take BUY positions above 0.9410 with targets at 0.9455 & 0.9480 in extension.

Comment:
A support base at 0.9410 has formed and has allowed for a temporary stabilisation.

http://www.richdadph.com/p/usd-chf.html Open / Comment

2022-11-25 11:51:47 EUR/USD Outlook: Bulls Not Giving up amid Hawkish ECB
https://www.forexcrunch.com/eur-usd-outlook-bulls-not-giving-up-amid-hawkish-ecb/

ECB policymakers are afraid inflation will become entrenched in the eurozone. The ECB will keep raising rates in a bid to tame sky-high inflation. Markets are expecting a 50bps ECB rate hike in December. Today’s EUR/USD outlook is bullish. The accounts of the Oct. 26–27 meeting showed that policymakers at the European Central Bank feared … Continued (https://www.forexcrunch.com/eur-usd-outlook-bulls-not-giving-up-amid-hawkish-ecb/)
The post EUR/USD Outlook: Bulls Not Giving up amid Hawkish ECB (https://www.forexcrunch.com/eur-usd-outlook-bulls-not-giving-up-amid-hawkish-ecb/) appeared first on Forex Crunch (https://www.forexcrunch.com/). Open / Comment

2022-11-25 09:36:04 Open / Comment

2022-11-25 09:32:41 #CURRENCY MONITORING CHART showing a quite market as people in the US are preparing for the Thanksgiving celebration cheers

http://www.richdadph.com/p/currency-chart.html Open / Comment

2022-11-25 09:29:38 What Traders need to know today?
Friday, November 25, 2022

With US markets closed for the Thanksgiving holiday, talk of whether the ECB will raise rates and the possibility of a recession continue to dwindle. According to the minutes of the ECB's October monetary policy meeting released yesterday, several committee members expressed the view that interest rate hikes should continue due to the prospect of prolonged inflation.

Besides, they stressed the need to tighten the monetary stance to achieve the 2% inflation target. Currently, markets are not taking lightly the prospect of an ECB rate hike of more than 50 basis points at their December meeting.

On the other hand, the ECB's high-interest rate hikes are also raising fears of a recession. The German central bank has identified that the financial system may face risks due to an economic slowdown, and ECB Deputy Governor De Guindos added that the ECB must be cautious of the possible side effects of raising interest rates further in the current environment where inflation is rising.

#DailyBrief Open / Comment

2022-11-25 09:28:31 #EURCAD H1 Chart Open / Comment

2022-11-25 09:26:33 “Programmable Dollars”
New York #Fed And 12 Banking Giants Launch Digital Dollar Test

According to a statement by the New York Fed, global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, The project, which is called the "regulated liability network", will allow banks to simulate issuing digital money representing their customers’ own funds before settling through central bank reserves on a distributed ledger, the New York Fed said. The pilot will test how banks using digital dollar tokens in a common database can help speed up payments. Open / Comment

2022-11-25 08:26:32 #EURUSD Intraday: 30 min Chart

Key resistance at 1.0430

Our preference:
Take SELL positions below 1.0430 with targets at 1.0380 & 1.0360 in extension.

Comment:
As long as 1.0430 is resistance, look for choppy price action with a bearish bias.

http://www.richdadph.com/p/eur-usd.html Open / Comment

2022-11-25 08:18:07 #AUDUSD Intraday: 30 min Chart

Bullish bias above 0.6750

Our preference:
Take BUY positions above 0.6750 with targets at 0.6780 & 0.6800 in extension.

Comment:
A support base at 0.6750 has formed and has allowed for a temporary stabilisation.

http://www.richdadph.com/p/aud-usd.html Open / Comment