Technical My Tips

🔽 AUDUSD seems ready to drop The Australian dollar (AUD) continued to decline on Monday and lost 0.36% due to sentiment still being weighed down by a lack of stimulus measures from China after weak data. 👉 Possible effects for traders A report by Caixin suggested that China might increase its fiscal stimulus by an additional 6 trillion yuan ($850 billion) over the next three years and provided support for the Australian dollar. The report sparked a rebound in the Australian dollar, New Zealand dollar, and Chinese yuan, noted Commonwealth Bank of Australia's economist Kristina Clifton. She emphasised that these currencies will remain sensitive to further news regarding China's anticipated fiscal stimulus measures. Clifton anticipates that more details will be announced at the National People's Congress meeting later this month, providing additional clarity on the potential impact of the proposed stimulus package on the currencies. In the broader foreign exchange market, the U.S. dollar is getting some due to expectations that the U.S. Federal Reserve (Fed) may choose to reduce interest rates by only 25 basis points (bps) in November. Two Federal Open Market Committee members supported a moderate monetary policy easing. In contrast, the Reserve Bank of Australia (RBA) is expected to reduce its cash rate only in February next year, with only 40% of analysts pricing in a rate cut in December, according to RBAWATCH—a source that tracks market expectations regarding the RBA's monetary policy decisions. AUDUSD has been declining during Asian and early European trading hours. Today, traders should focus on the release of the U.S. Empire State Manufacturing Index at 12:30 p.m. UTC. Higher-than-expected figures may push AUDUSD below 0.67000, while softer data may support the Australian dollar. ➡️Sign Up Now ➡️ https://bit.ly/attocta

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EURUSD, 1-hour timeframe chart EURUSD retested the support level of 1.09050 👉Level explanation EURUSD has been under selling pressure within the last day. The pair moved down to the support level of 1.09050. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 1.09100. Set your stop loss at 1.08900 below the previous low ($2.00 loss for 0.01 lot) and take profit at 1.09300 ($2.00 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

Another week, another trading riddle. Drop your answers in the comments! Start Investing: https://bit.ly/attexpertoption

Here is the list of the global economic events that are happening around the world impacting the financial market. We keep you ahead of the global cues!📈🌏 Like what you see? Give us a 👍❤️

📊 GBPUSD fluctuates ahead of labour and inflation reports The British pound (GBP) continued to move sideways on Friday, getting little support from data that showed Britain's economy returned to growth in August. 👉 Possible effects for traders The Office for National Statistics (ONS) released data indicating that economic activity increased by 0.2% month-on-month in August, aligning with the expectations of economists surveyed by Reuters. This marks a return to growth after two consecutive months of stagnation, providing some relief for the finance minister, Rachel Reeves, ahead of the upcoming budget for the new Labour government later this month. The data confirmed that the U.K. economy has been slowing in the second half of 2024, which is expected given the strong growth observed in the first six months of the year. Lee Hardman, a senior FX strategist at MUFG, noted that while the data didn't change the overall outlook significantly, it provided confirmation of the current state of the U.K. economy. This week is important for the Bank of England (BOE) as the latest inflation and labour market data are due. These data will be crucial for determining the bank's plans at the upcoming policy meeting in November. Through much of this year, GBP has benefited from expectations that the BOE would reduce interest rates more slowly than the Federal Reserve (Fed) and the European Central Bank (ECB). However, these expectations have shifted, and the recent decline in the GBP against the U.S. dollar (USD) over the past month can be attributed to this change. Markets have lowered their expectations for further rate cuts by the Fed. The central bank governor, Andrew Bailey, said last week that the regulator may become more proactive if inflationary pressures persist. The GBPUSD exchange rate fluctuated within a tight range during the Asian and early European trading hours. The pair is currently awaiting the release of two important economic reports: the U.K. Unemployment Rate tomorrow at 6:00 a.m. UTC and the Consumer Price Index on Wednesday. These data will provide valuable insights for the BOE before the November meeting. ➡️Sign Up Now ➡️ https://bit.ly/attocta

🔽 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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