Technical My Tips

🔽 Euro is in a downward trend as Fed rate cut expectations moderate The euro (EUR) was essentially unchanged compared to the U.S. dollar (USD) on Friday as markets digested a series of macroeconomic reports that supported the Federal Reserve's (Fed) current approach to monetary policy. 👉 Possible effects for traders EURUSD has been in a clear downward trend since the end of September. Investors began to reassess the scope of interest rate cuts by the Fed following the release of better-than-expected U.S. data and worse-than-expected eurozone reports. Specifically, U.S. labour market reports painted a rather upbeat picture, while eurozone business activity data continued to disappoint. As a result, traders' views on the European Central Bank's (ECB) interest rates path turned more dovish, and divergence in monetary policy expectations between the ECB and the Fed turned more in favour of the U.S. dollar. 'Higher inflation print has really backed the market away from being overly aggressive on how deep they were looking for the interest-rate cuts to go by the end of the year. So there was already an overprice in there, and that's basically unwound this week', said Amarjit Sahota, executive director at Klarity FX. The latest U.S. reports indicated that producer prices remained essentially unchanged in September while jobless claims rose sharply. However, the data failed to invigorate EURUSD bulls as Hurricane Helene skewed weekly jobless claims data. At the same time, this week's data will be affected by Hurricane Milton, the second hurricane in two weeks to hit the southeast United States. EURUSD was falling during the Asian and early European trading sessions. Today, the macroeconomic calendar is relatively uneventful. Only remarks by a handful of Fed speakers may potentially move the market. FOMC Member Neel Kashkari is due to speak at 1:00 p.m. UTC, while FOMC Member Christopher Waller will deliver a speech at 7:00 p.m. UTC. Any hints at a more hawkish or less dovish monetary policy by the Fed will likely extend the bearish trend in EURUSD. ➡️Sign Up Now ➡️ https://bit.ly/attocta

🚀 Gold rises by 1% on weaker-than-expected U.S. data Gold (XAU) rose by 1% on Friday as the U.S. macroeconomic data revealed weaker-than-expected figures. 👉 Possible effects for traders The U.S. Producer Price Index (PPI) for final demand remained flat in September, falling just below economists' expectations of a 0.1% rise, according to Reuters. This follows an unrevised 0.2% increase in August, signalling that inflation continues to ease, allowing the Federal Reserve (Fed) to pursue further interest rate cuts. The CME Group's FedWatch Tool shows that markets are currently pricing in a more than 86% likelihood of a 25-basis-point rate (bps) cut by the Fed at the November meeting.​ The yield on the benchmark 10-year U.S. government bond remains steady above the 4% mark as the chances of aggressive policy easing by the Fed diminish. This supports the U.S. dollar (USD), keeping it near a two-month high, and has led to renewed selling pressure on gold at the start of the week. Meanwhile, government data released over the weekend showed China's headline consumer price index remained flat in September, with the annual rate at 0.4%, falling short of market expectations. This data, along with the lack of specific details on China's fiscal stimulus and rising geopolitical tensions in the Middle East, should support safe-haven assets such as gold. XAUUSD rose during the Asian trading session. Today's trading session liquidity is expected to be low due to public holidays in several major economies. Japan is observing Sports Day, Canada is celebrating Thanksgiving, and the U.S. is marking Columbus Day. These holidays result in reduced market participation, particularly from key financial centres, which can amplify price swings in markets with lower trading volumes. Traders should remain cautious, as unexpected moves are more likely in low-liquidity conditions. 'Spot gold is expected to test support at $2,635 per ounce, a break below which could open the way towards the $2,620 to $2,627 range', said Reuters analyst Wang Tao. ➡️Sign Up Now ➡️ https://bit.ly/attocta

GBPUSD, 15-minute timeframe chart GBPUSD formed a bearish Hammer pattern 👉Level explanation GBPUSD has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 1.30700. Now, the price displays a bearish Hammer pattern. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 1.30670. Set your stop loss at 1.30860 above the previous high ($1.90 loss for 0.01 lot) and take profit at 1.30480 ($1.90 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. ➡️Sign Up Now ➡️ https://bit.ly/attocta

Hyundai Motor India Limited (HMIL) IPO opens for subscription tomorrow! 📢😱 It is a key subsidiary of Hyundai Motor Company, operates 1,366 sales and 1,550 service points across India. It exports to markets like Africa and contributes significantly to Hyundai's global sales growth. Will you invest in this IPO? 🤔 Yes 👍 No 👎 Still deciding 😭 Applying everywhere 🤣

Good Morning Traders 😊

Good Morning Traders 😊

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