Ming Jong Tey
Independent Analyst
Watch the video from the WLGC session before the market opens on 1 Oct 2024 to find out the following:
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Why a bearish rejection tail doesn’t always mean a sell-off is coming – and how to spot false signals.
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Key signs of supply spikes and demand exhaustion to help you predict the next major market shift.
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How low-volume consolidation could set the stage for the next big move in the S&P 500.
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And a lot more...
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EUR/USD treads water above 1.1050 amid cautious markets
EUR/USD is trading with caution above 1.1050 on Wednesday's European morning. The pair remains undermined by sustained US Dollar strength, in the face of the Middle East conflict and pre-ADP data nervousness. Speeches from ECB and Fed policymakers will be also eyed.
GBP/USD stays depressed below 1.3300 on tepid risk sentiment
GBP/USD stays depressed below 1.3300 in European trading on Wednesday. The cautious trading could be attributed to risk aversion due to the rising geopolitical tensions in the Middle East, which underpins the safe-haven US Dollar at the expense of the risk-sensitive Pound Sterling.
Gold pulls back toward $2,650, focus shifts to US data, Fedspeak
Gold pulls back after Tuesday’s rally on increased geopolitical risk stemming from Iran’s escalation in the Middle East. The macro backdrop remains positive, however, with falling interest rates globally making Gold shine. Eyes turn to US ADP data, Fedspeak.
ADP report expected to show US private employment rose by 120,000 in September
The ADP Research Institute will release its monthly report on private-sector job creation for September on Wednesday. The so-called ADP Employment Change report is expected to show that the US added 120,000 new positions in September after creating 99,000 jobs in August.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.