Month: December 2021

News

Someone needs loonies in a thin market

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The Canadian dollar is ripping higher today and is by-far the best performing G10 currency. The move has knocked USD/CAD 110 pips lower to 1.2633. I strongly suspect this is a flow-driven move in a thin market — someone needed Canadian dollars ASAP. That’s especially evident with oil down 1.2% today and global equities softer.
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News

CFTC Commitments of Traders – Net Short of British Pound Futures Increased Further Despite Price Rebound

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ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
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Technical Analysis

NZDUSD steps lower in 2021 despite rate hikes, but finds technical support at the lows

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NZDUSD on the weekly chart The NZDUSD stepped lower in 2021 in choppy up and down trading. The moves to the downside came despite rate hikes by the Reserve Bank of New Zealand toward the later half of the year. The expectations are the central bank will look to continue that trend in 2022. Overall,
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News

Fed stance clouds bullish outlook on gold but prices may remain up

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Gold prices are set for a negative year in 2021. The metal’s prices in India have declined by more than 4% till now on improved investment sentiments for riskier assets. Gold gave tremendous returns in 2019 and 2020, at 13% and 26%, respectively, on the trade war and pandemic rally. Investors have varied opinions on
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FX

USD/CAD Price Analysis: Bounces off multi-week low, upside potential seems limited

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A combination of factors assisted USD/CAD to reverse the early slide to a three-week low. Ascending channel breakdown supports prospects for an extension of the recent decline. Any further recovery move might get sold into and remain capped near the 1.2800 mark. The USD/CAD pair reversed an intraday dip to a near three-week low and
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Blockchain

Fractal: 110K join Discord of Twitch founder’s new NFT gaming marketplace

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Twitch co-founder Justin Kan launched a new blockchain gaming-focused NFT marketplace yesterday dubbed Fractal. Fractal’s Discord group has since amassed more than 111,000 members, despite only being announced two weeks ago. At the time of writing, it appears that the most significant sale on the platform so far was for a Baby Scoot NFT that
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News

AUD traders note – China says its iron ore self-sufficiency will be ‘significantly’ increased

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As part of the plan China will also optimise the annual quota mechanism for the production of rare earth, tungsten and other minerals. Info comes via the South China Morning Post, link here for more (may be gated). The piece opens with: China will encourage domestic exploration of iron ore and use more scrap metals
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News

US Crude Oil and Petroleum Inventory Fell Across the Board

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The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -1891 mmb to 1184.59 mmb in the week ended December 24. Crude oil inventory dropped -3.58 mmb to 420 mmb, compared with consensus of a +3.09 mmb increase. Inventory decreased in 3 out of
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Technical Analysis

AUDUSD is looking to go into 2022 with a more bullish bias longer term

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AUSDUSD on the weekly chart The AUDUSD in 2021, reached its high for the year on February 25th at 0.8006 which was near a nice natural resistance of 0.8000. The price low was not reached until the December 3rd at 0.6992 (also near a natural support level at 0.7000). The range of 1014 pips compares
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News

Gold rate today: Yellow metal rises but set for worst show in 6 years

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NEW DELHI: Gold prices traded higher in the final session of 2021, but are set for the worst performance in the last six years. Gold futures on MCX gained 0.11 per cent or Rs 55 at Rs 47,940 per 10 grams. Silver futures were up 0.15 per cent or Rs 96 at Rs 62,256 per
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Forex Trading System

Forex Part Time Trading System 9 – Reversal Examples

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The program is designed to help traders of all levels become more successful traders by providing professional Forex trading training and tools. Hector has been a professional trader and trainer for sometime now and this is one of his best programs yet. For those that really want to take their trading to the next level,
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Forex Trading Tutorial

How To Use Thinkorswim 2021 (Forex, stocks, futures, and more)

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I’ve switched by currency account to TD Ameritrade (as I already trade stocks, options, and futures at TD) and I’ve gotten asked a lot of questions about how to use Thinkorswim. Here is a more in-depth review of TD Ameritrade’s Thinkorswim! Support the channel and Get 2+ FREE stocks here (Valued up to $1,400) 💰
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Forex Trading Strategies

Lessons I learned from losing trades. (Forex trading)

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I lost some trades and learned something, am sharing this in this video. Broker i use http://fbs.com/cabinet/registration/trader/?ppu=1742220122 Join our telegram community https://t.me/theforexbulls Follow me on Instagram https://instagram.com/vidollarug Inbox through +256702895853 on WhatsApp Ignore tags: data trader,day trading,day trading strategies,stock trading,forex trading strategy,swing trading strategy,day trading strategy,scalping forex strategy,scalping strategy,forex scalping,stock scalping tutorial,forex scalping strategy,scalping tutorial,scalping
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FX

China vows greater iron ore self-sufficiency – SCMP

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The South China Morning Post (SCMP) shares China’s 2021-25 raw material development plan while spotting negative news for the AUD/USD traders during early Friday morning in Asia. “China will encourage domestic exploration of iron ore and use more scrap metals to reduce reliance on imports from countries like Australia, while streamlining production quotas for rare earth and
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News

Cathie Wood isn’t giving me much faith in the tech trade

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At this time last year Cathie Wood’s star was shooting higher after a sensational year but the more she tweets, the harder it is to believe she’s anything more than lucky. It’s tough to take shots at someone who has delivered +300% annualized returns for a number of years but with the fund growing massively
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News

Yen Weakness Still the Main Theme as US Stocks Might Extend Record Run

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Overall outlook in the markets are unchanged, with US futures pointing to slightly higher open. DOW and S&P 500 could continue their record runs. Selloff in Yen remains the main theme while Sterling is strong together with Aussie and Kiwi. Euro and Dollar are both soft and bounded in range against each other. Technically, a
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News

Gold declines Rs 98; silver tumbles Rs 699

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Gold prices declined by Rs 98 to Rs 46,688 per 10 gram in the national capital on Thursday in line with weak global cues, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,786 per 10 gram. Silver also tumbled Rs 699 to Rs 60,024 per kg from Rs 60,723
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FX

LCID Stock News: Lucid Group Inc dips as EV stocks drop on Rivian production delays

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NASDAQ:LCID fell by 0.03% during Wednesday’s trading session. Rivian tells its customers that SUVs will be ready in 2023. Tesla stock falls as Musk continues to sell shares. NASDAQ:LCID has been far from the sure bet investors believed it to be when the luxury EV maker went public back in July. But it is still
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