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In our 21 January note we confirmed the relevance of a system of two trend channels and highlighted that the price was sitting at the lower boundary of a long-term ascending channel...

Daily Pivots: (S1) 152.38; (P) 153.21; (R1) 154.24; More… Intraday bias in USD/JPY remains neutral for the moment. As noted before, fall from 159.44 is seen as correcting the rise from 139.87. Strong support should be seen from 38.2% retracement of 139.87 to 159.44 at 151.96 to bring rebound, at least on first attempt. On […]

The post USD/JPY Mid-Day Outlook appeared first on ActionForex.

The weakness of the US dollar amid the White House’s ambiguous policy stance, along with other factors has led to the XAG/USD quote rising above $115 this week.

USDCHF: ⬇️ Sell – USDCHF broke key support level 0.7880 – Likely to fall to support level 0.7600 USDCHF currency pair falling sharply after the price broke the key support level 0.7880 (which is the lower border of the sideways.

Introduction to EURUSD The EUR USD pair, frequently referred to by traders as “Fiber,” represents the exchange rate between the world’s two largest reserve currencies. This pairing is a primary barometer for global economic health, reflecting the relative strength of the Eurozone economy against the United States. As the most heavily traded currency pair in […]

The post Daily EUR/USD Outlook: Fiber Sentiment Amid Global Tensions appeared first on UnitedPips Ltd.

With all the drama in the United States and Japan at the moment, some massive moves in China are flying under the radar.

President Xi Jinping undertook a massive purge of the military. Gen. Zhang Youxia was accused of leaking nuclear-weapons data to the US and accepting bribes for promotions, including of a defense minister, according to the WSJ.

The general was once considered one of Xi's most-loyal allies and is the highest-ranking uniformed officer in the Chinese military. He is also a member of the 24-person Politburo, the party's center of power.

Officials also placed Liu Zhenli, chief of its Joint Staff arm, under investigation.

Officially, Zhang and Liu were “suspected of serious violations of discipline and law”, the defence ministry said in a short announcement on Saturday.

In October, Xi also purged He Weidong, who was the vice chairman of the Central Military Commission and seven other top generals

There have also been rumors of an attempted coup, so it's altogether unclear what's happening here but this is a major move from Xi and perhaps the largest military shakeup in decades. It's not clear how this might impact the timeline for a potential Taiwan invasion but would seemingly push it back, as Xi will need time to consolidate power and restore ranks.

In 2023, defense minister Li Shangfu disappeared from public view and was removed and the WSJ report indicates that Saturday's moves may have been related. It's not clear if Li is currently imprisoned.

Xi and Zhang are both 'princelings' in the CPC as their fathers fought side by side during the Chinese civil war that led to Mao’s Communist forces seizing power in 1949.

In terms of markets, I don't see any obvious implications here aside from a smaller chance of Chinese military action but it bears watching closely on what could happen next.

This year’s Davos Forum has drawn attention not only because of developments around Greenland and Donald Trump’s proposed Peace Council...

  Russia-Ukraine Peace Deal Russia Ukraine war Negotiating a ceasefire, let alone a lasting peace deal between Russia and Ukraine has proven to be extremely...

The post What a Russia-Ukraine Peace Deal Could Mean for Global Markets appeared first on Forex Trading Forum.

Daily Pivots: (S1) 1.1649; (P) 1.1709; (R1) 1.1785; More…. Intraday bias in EUR/USD stays on the upside for 1.1807 resistance. Firm break there will resume whole rally from 1.1467, and target a retest on 1.1917 key resistance level. For now, risk will stay on the upside as long as 55 4H EMA (now at 1.1670) […]

The post EUR/USD Mid-Day Outlook appeared first on ActionForex.

Trade tensions weaken the dollar, boost the euro, and leave the yen vulnerable amid political manoeuvres and global economic shifts.