Robert Kelley
Elliott Wave International
Summary
Join us for this free webinar to learn how to enter, exit and manage risk in your forex positions with easy tools and techniques. Elliott Wave International currency analyst Robert Kelly will walk you through multiple FX charts and show how to turn Elliott wave analysis into actionable trades. Step by step, using real market examples, you will learn how to bridge the gap between the theory and real-life scenarios.Latest Live Videos
Editors’ Picks
EUR/USD trims some losses, back to 1.1770
EUR/USD remains on the back foot on Thursday, managing to regain some composure and reclaim the 1.1770 region after bottoming out near 1.1740 earlier in the day. The pair’s daily retracement comes as the US Dollar extends its recovery, buoyed by another round of solid US data that has reinforced the Greenback’s underlying strength and kept buyers firmly in control.
GBP/USD bounces off monthly lows near 1.3430
GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3430 area, its lowest levels in the month. The move reflects a firmer Greenback, supported by another round of solid US data and a somewhat divided FOMC Minutes.
Gold surrenders some gains, back below $5,000
Gold is giving away part of its earlier gains on Thursday, receding to the sub-$5,000 region per troy ounce. The precious metal is finding support from renewed geopolitical tensions in the Middle East and declining US Treasury yields across the curve in a context of further advance in the Greenback.
Ripple slips toward $1.40 despite SG-FORGE tapping protocol for EUR CoinVertible
XRP extends its decline, nearing $1.40 support, as risk appetite fades in the broader market. SG-FORGE’s EUR CoinVertible launches on the XRP Ledger, leveraging the blockchain’s scalability, speed, security, and decentralization.
Hawkish Fed minutes and a market finding its footing
It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.
Here is what you need to know on Thursday, February 19:
The US Dollar gathered strength in the second half of the day on Wednesday, boosted by the hawkish tone seen in the minutes of the Federal Reserve's January policy meeting. The US economic calendar will feature December Goods Trade Balance figures and the weekly Initial Jobless Claims data. Meanwhile, investors will pay close attention to geopolitical developments.