Merlin Rothfeld
Online Trading Academy
For the past 6+ months, every time Vishal has been on the show, he has been adamant about selling the rallies! And for 6+ months, he has been SPOT on! Will his market view persist? Tune in and find out the answer and much more as Vishal calls in from Mumbai to talk to Merlin on Power Trading Radio.
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Editors’ Picks
EUR/USD: Sellers will not leave it alone
EUR/USD resumed its widespread leg lower on Tuesday, rapidly setting aside Monday’s bullish price action and returning to the area below the 1.0500 support prior to key US data releases on Wednesday.
GBP/USD holds steady near the low end
GBP/USD churned chart paper just below 1.2600 on Tuesday, marking out familiar territory as the Pound Sterling struggles to find an intraday direction against the Greenback.
USD/JPY declines to near 153.00 as US Dollar surrenders gains and turns negative
The USD/JPY pair tumbles to near 153.00 in Tuesday’s North American session. The asset plummets as the US Dollar (USD) gives up its entire intraday gains and turns negative after a strong opening. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, falls to near 106.50 after a strong opening around 107.50.
Editors’ Picks
Australian Dollar stands soft as investors await local CPI data
The AUD/USD pair has been struggling to sustain its intraday gains, extending its losses for the second consecutive day and currently trading around 0.6460.
EUR/USD: Sellers will not leave it alone
EUR/USD resumed its widespread leg lower on Tuesday, rapidly setting aside Monday’s bullish price action and returning to the area below the 1.0500 support prior to key US data releases on Wednesday.
Gold under pressure below $2,630
Gold fluctuates above $2,600 on Tuesday after sliding almost three percent – a whopping $90 plus – on Monday due to rumors Israel and Hezbollah were on the verge of agreeing on a ceasefire. Whilst good news for Lebanon, this was not good news for Gold as it improved the outlook for geopolitical risk.
Bitcoin needs a further correction for sustained growth
After weeks of rapid growth, Bitcoin (BTC-USD) entered the maximum turbulence zone falling below $94,000. BTC is currently trading at $93,764 and continues to trend downward, having exited the ascending channel.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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