Category: Forex

Market Analysis
April 14, 2023 BY Steffy Bogdanova

USD/JPY Harmonic Analysis

Technical Confluence Accompanying the AB=CD pattern is price shaking hands with the lower Bollinger Band (set to three standard deviations) and the Relative Strength Index (RSI) exiting oversold territory. Therefore, the supporting technical confluence—momentum and volatility indicators—suggests a short-term push to the upside may unfold, targeting the aforementioned Fibonacci retracement ratios. Charts: TradingView Meanwhile, after…

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April 13, 2023 BY Steffy Bogdanova

Marex sees 29% growth in net revenue in 2022

Ian Lowitt, Marex CEO, commented: We are delighted with these record results. The strong revenue growth reflects the increasing demand from our clients, who recognise our deep expertise and ability to deliver quality service and solutions. Adjusted operating profit before tax (PBT) jumped 53% last year to $79.6 million from $12.7 million in 2021. Adjusted…

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Daily Market Commentary
April 13, 2023 BY Steffy Bogdanova

Dollar index on the backfoot ahead of FOMC minutes

Short-Term View Ahead of FOMC Minutes Based on the H1 timeframe, it is obvious that there is a notable downside bias, with price action close to testing support at 101.44. In the event of a spike higher, resistance warrants consideration at 101.82. Therefore, given the bearish vibe derived from the bigger picture, 101.44 support appears…

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Clearstream
April 12, 2023 BY Steffy Bogdanova

Clearstream creates new bank in Luxembourg for institutional fund investors

According to the official announcement, the recently established banking firm will cater to Clearstream's fund execution enterprise, Vestima, reputed as the world's most extensive fund-processing platform, with access to 230,000 funds in 50 markets. It has acquired a commercial banking permit through the new banking platform. Furthermore, the bank will facilitate the fund distribution platform…

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April 11, 2023 BY Steffy Bogdanova

Brokeree integrates its Liquidity Bridge with DXtrade CFD trading platform

Following the integration with Liquidity Bridge, all brokers licensing DXtrade CFD will gain access to its technology of liquidity aggregation. The ‘plug-n-play’ implementation allows for quick integration cutting the need additional development or per-broker customization. The comprehensive solution is designed to manage large amounts of liquidity from several sources. Through it, brokers can connect several…

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April 11, 2023 BY Steffy Bogdanova

Weekly data: EURUSD & USOIL price action before CPI

On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands last Tuesday and has since corrected to the downside. The Bollinger bands are contracting at the time of this report but volatility could pick up later in the week around publication hours of the…

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Saxo Bank
April 06, 2023 BY Steffy Bogdanova

Saxo Bank sees 40% MoM jump in FX volume in March

The average daily volume (ADV) in forex instruments stood at $6.8 billion. The figure grew 23.6% on monthly basis and 3% on yearly. The brokerage firm reported that demand in Equities also registered an uptick. The volume in March was $259.9 billion, strengthening by 25% compared to February. On yearly basis, the asset class rose…

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April 06, 2023 BY Steffy Bogdanova

Advanced Markets integrates with VertexFX platform

Adel Jibrin, the CEO and Managing partner of Hybrid Solutions, said: The integration of VertexFX Trading platform with Advanced Markets is a significant milestone. The partnership will provide VertexFX traders with access to institutional grade liquidity and advanced trading tools that were previously only available to institutional traders. The company is excited about the partnership…

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Weekly data: Oil and Gold price action before the NFP
April 06, 2023 BY Steffy Bogdanova

Spot gold closing in on record highs at $2,075

ATH Likely to be Challenged Technically, limited resistance is evident on the weekly timeframe, following the breach of resistance from $1,988. This paves the way for a run at the ATH of $2,070. You may recall that I highlighted the daily timeframe’s price action in the Weekly Market Briefing, paying specific attention to a clear-cut…

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