Ming Jong Tey
Independent Analyst
Unity Software (U) has almost completed a Wyckoff accumulation structure with a potential back up action action reversal entry setup after a sign of strength rally.
Find out the how to get in with the reversal trading entry and the target price ahead. Watch the video below:
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EUR/USD clings to gains above 1.0500 as US Dollar wilts ahead of data
EUR/USD holds its ground and trades in positive territory above 1.0500 on Wednesday. Traders cash in on the US Dollar long positions ahead of a series of top-tier US data, lifting the pair. The USD/JPY sell-off also adds to the US Dollar downside.
GBP/USD holds gains near 1.2600, US PCE data eyed
GBP/USD extends the bullish momentum to trade near 1.2600 in the second half of the day on Wednesday. The pair benefits from a sustained US Dollar weakness but the risk-off sentiment limits the upside as traders turn cautious ahead of top-tier US data releases.
Gold rises toward $2,650 as traders “buy the fact” following news of Lebanon ceasefire
Gold (XAU/USD) recovers into the $2,650s on Wednesday as traders “buy the fact” of the ceasefire deal brokered between Israel and Hezbollah after “the rumor” led to heavy selling on Monday. Market focus shifts to US data releases.
US core PCE inflation set to hold steady, raising doubts on further Federal Reserve rate cut
The United States Bureau of Economic Analysis (BEA) is set to release the Personal Consumption Expenditures (PCE) Price Index data for October on Wednesday at 15:00 GMT.
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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