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Financial markets are holding steady yet exhibit a sense of nervous anticipation as the new week commences. The conflicts between Israel and Hamas continues to take center stage, with concerns mounting over the potential for the violence to engulf the broader region.
The conflict that has lasted for more than a year is still stuck in a deadlock. The road to negotiations is difficult and the prospects are unpredictable. The protracted nature of this conflict has become increasingly apparent.
On October 27, 2023, military strongholds of the Burmese army in Lashio, Guiyang and other places in northern Myanmar were attacked by armed forces and fierce exchanges of fire broke out. The security situation is complex and severe.
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After the Federal Reserve chairman gave testimony in the Senate, the U.S Dollar Index (USDX) tested close to its highest level since early December of 106.00. For now, volatility should remain high and the risk balance in the market is expected to continue to tilt upwards. The focus of today's market will be on testimony 2.0 (the chairman of the Fed testifies in the House of Representatives). Meanwhile, the U.S. ADP employment change in February will be seen as a new driver.
105.722
Entry Price
107.120
TP
104.000
SL
172.2
Pips
Loss
104.000
SL
103.998
Exit Price
105.722
Entry Price
107.120
TP
USD may continue to be strong in the near term, but its strength will fade in the medium- to long- term according to the economic fundamentals.
105.708
Entry Price
103.800
TP
107.800
SL
26.6
Pips
Profit
103.800
TP
105.442
Exit Price
105.708
Entry Price
107.800
SL
The probability of a favorable trend is already high, and an over-expected decline is instead a chance to open long positions.
77.641
Entry Price
80.500
TP
74.500
SL
314.1
Pips
Loss
74.500
SL
74.500
Exit Price
77.641
Entry Price
80.500
TP
While the dollar's bullish trend has led to a major drop in some forex pairs, the NZDUSD saw a sell-off after Powell's speech. We are now waiting for a retest of either area of structure to look for potential sells to the downside.
0.61500
Entry Price
0.60000
TP
0.62000
SL
35.4
Pips
Profit
0.60000
TP
0.61146
Exit Price
0.61500
Entry Price
0.62000
SL
Traders should keep a close eye on the GBPJPY pair, as it continues to show signs of weakness. While there is potential for short-term swings, the overall bias is to short, with opportunities to enter at bargain prices using retracement levels. With a well-planned strategy, traders can capitalize on the expected bearish price action and potentially profit from the downside in GBPJPY.
163.000
Entry Price
161.000
TP
163.700
SL
70.0
Pips
Loss
161.000
TP
163.706
Exit Price
163.000
Entry Price
163.700
SL
The GBPUSD fell sharply from a four-day high as new USD buying emerged. Bears need to fall below the 200-day SMA to support further downside prospects. Investors will look for some meaningful momentum during the New York session (the semi-annual testimony of Fed chairman Powell).
1.19808
Entry Price
1.17000
TP
1.21500
SL
105.0
Pips
Profit
1.17000
TP
1.18758
Exit Price
1.19808
Entry Price
1.21500
SL
While the RBA's interest rate decision has caused the AUD to drop, it does not necessarily mean that interest rate hikes in Australia are over. The market is currently in a downward trend, and traders should carefully monitor economic data and market trends
0.67200
Entry Price
0.65500
TP
0.67800
SL
9.4
Pips
Profit
0.65500
TP
0.67106
Exit Price
0.67200
Entry Price
0.67800
SL
Eva Chen
Analyst
Master of Economics, 8 years in the financial industry, CFA holder, joined HSBC (Hong Kong) Bank in 2013 after graduating from the University of California, USA in the Investment Research and Markets Department. With years of financial market experience and trading experience, having provided excellent investment advice to many brokerages, entity derivatives importers and clients in Greater China.
Ranking
1
Articles
836
Win Rate
69.20%
P/L Ratio
0.56
Focus on
WTI, XAUUSD, GBPUSD
Buy Low and Sell High with Trading Risk Premium
TRADINGContinuation of Downward Movement Expected After Correction Ends
PENDINGBullish Trend Remains Intact but with Limited Upside Potential
PENDINGRange Trading Dominated by Selling High and Buying Low
TRADINGPossible Short Squeeze in the Market, Emphasizing Buying the Dips
PENDINGThe risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
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