Key Events for the Week Ahead

Politics will continue to influence financial markets next week as details emerge of the policies that Trump and his administration envisage pursuing. These statements, as well as those from influential Republicans, may have a greater impact on markets as that party secures a majority in the Senate and appears to retain a majority in the House of Representatives, not to mention a Republican presidential victory.

Among the key scheduled events, the following releases could impact the markets.

——————
FxPro. Trade Like a Pro. | Subscribe

NZDJPY Wave Analysis 8 November 2024

- NZDJPY reversed from resistance level 92.00

- Likely to fall to support level 90.40

——————
FxPro. Trade Like a Pro. | Subscribe

CHFJPY Wave Analysis 8 November 2024

- CHFJPY broke daily up channel

- Likely to fall to support level 174.00

——————
FxPro. Trade Like a Pro. | Subscribe

🗓 Economic Calendar at 2024/11/11 (GMT)

02:00 🇳🇿 Expected Annual Inflation 2y from now — Exp: 2.00%

🗓 Economic Calendar at 2024/11/12 (GMT)

07:00 🇬🇧 Claimant Count Change — Exp: 30.5K

07:00 🇬🇧 Unemployment Rate — Exp: 4.1%

07:00 🇬🇧 Average Earnings Index — Exp: 3.9% | 4.6%

09:00 🇬🇧 MPC Member Huw Pill Speaks

10:00 🇪🇺 ZEW Economic Sentiment — Exp: 20.5

10:00 🇩🇪 ZEW Economic Sentiment — Exp: 13.2

10:00 🇩🇪 ZEW Survey (Current Situation) — Exp: -86.0

15:00 🇺🇸 FOMC Member Christopher J. Waller Speaks

15:15 🇺🇸 FOMC Member Thomas I. Barkin Speaks

22:30 🇺🇸 FOMC Member Thomas I. Barkin Speaks

Altcoins Acceleration Amid Bitcoin’s New Heights

The crypto market capitalisation has reached $2.75 trillion, approaching the peak of $2.77 trillion reached in March this year. The next target for the crypto bulls looks to be the historical highs at $2.86 trillion and possibly even the next round level of $3.0 trillion.

Bitcoin has broken the upper boundary of the ascending channel, accelerating the renewal of historical highs. A key technical target and next milestone now appears to be the $100-110K area, as the five-month drift down from $73K to $50K looks like a correction of the bullish momentum from September 2023 to March 2024. The breakout to new highs confirmed the extension of the bullish momentum, making the 161.8% level the next target. Next, the $100-110K area should be ready for a major shakeout as many will be looking to take profits after impressive gains and on reaching key round levels.

——————
FxPro. Trade Like a Pro. | Subscribe

#Shorts

#USDCHF: 100-150 points growth potential

Oil & gas: still mostly bearish prospects

The price of a barrel of crude oil has fallen 1.6% since the start of Monday, bringing the decline over the last two trading sessions to 4%. Pressures on the oil price include signals from the ceasefire talks between Israel and Lebanon (reducing supply risks) and disappointment over the size of China's stimulus package (revising expected demand).

Among the longer-term factors, the upward trend in US oil inventories has continued. The strategic reserve has increased by 1.4 million barrels, maintaining the pace in recent weeks and accelerating from the average rate of 750k barrels per week since the beginning of the year. The acceleration appears to be driven by lower prices, which also help to provide soft support.

——————
FxPro. Trade Like a Pro. | Subscribe

The dollar unstoppable for now

The dollar continues to rise on speculation of policy changes following the US election. The Dollar Index rose above 105.5 on Monday - its highest level since early July - before easing slightly in trading.

The main contributors to the index's strength are weakness in the single currency and the Japanese yen. In both cases, there is a cocktail of political uncertainty and fears that Trump's protectionist policies will hurt EU and Japanese exporters.

——————
FxPro. Trade Like a Pro. | Subscribe

EURUSD Wave Analysis 11 November 2024

- EURUSD under bearish pressure

- Likely to fall to support level 1.0600

——————
FxPro. Trade Like a Pro. | Subscribe

Dow Jones Wave Analysis 11 November 2024

- Dow Jones rising inside impulse wave 5

- Likely to reach resistance level 45000.00

——————
FxPro. Trade Like a Pro. | Subscribe

🗓 Economic Calendar at 2024/11/13 (GMT)

00:30 🇦🇺 Wage Price Index — Exp: 0.9% | 3.6%

09:45 🇬🇧 MPC Member Catherine L Mann Speaks

13:30 🇺🇸 ⚡️ Consumer Price Index — Exp: 0.2% | 2.4%

13:30 🇺🇸 ⚡️ Core CPI — Exp: 0.3% | 3.3%

23:00 🇦🇺 ⚡️ RBA Governor Michele Bullock Speaks

Crypto punishes sceptics

The total capitalisation of the cryptocurrency market approached $3 trillion, rewriting the record set almost exactly three years ago. During the day, the indicator grew by more than 8%. The nature of the movement indicates the liquidation of short positions in the largest coins, primarily bitcoin. At the same time, individual altcoins are increasingly shooting up.

The first cryptocurrency soared almost 10% in 24 hours, coming close to $90K, although only a little over a day ago, it tried to consolidate at $80K. Reaching the $100-110K target area now looks like a matter of a couple of weeks or even days.

——————
FxPro. Trade Like a Pro. | Subscribe

📈 Since the election, markets are buzzing with movement, bringing exciting trading opportunities! Here’s a quick look at the latest highlights:

🚀 Crypto Surge: Bitcoin is up +30% this week, Ethereum +40%, and Dogecoin is leading with an incredible +154%!

🥇 Gold Near 2-Month Lows: Gold has dropped below $2600, marking a 2-month low.

📊 US Indices Hit All-Time Highs: The S&P500 surged past 6000, while Nasdaq reached 21250 with strong post-election gains.

🔋 Stocks Soar: Tesla crossed the $1 trillion valuation mark, jumping +45% in just 5 sessions!

💵 USD Rally: The dollar has gained strength, with EURUSD dropping -2.8% this week to the year’s low near 1.0600.

💼 Plus, we offer CFDs on two major ETFs—QQQ and SPY—giving you even more ways to trade these market trends.

📲 Log in to your FxPro account and seize these prime opportunities to Buy or Sell! #TradingOpportunities #FxPro #TradeLikeaPro

#Video #ProNewsFlash

In today's episode, we'll be checking out crypto's incredible rise! This huge shift comes as the total cryptocurrency market capitalization approaches an unprecedented $3 trillion, surpassing records set three years ago. Could we see even more ATHs? Or maybe we're on the bring of an altcoin Super cycle?

https://www.youtube.com/watch?v=EPjD4f2gll8

Pound looking into the abyss

Sterling continues to lose ground against the Dollar for the third session in a row, down a cumulative 2% and nearly 5% from its peak in late September as markets turned to the Trump rally.

Weak macroeconomic data have driven the recent bearish momentum. The unemployment rate rose to 4.3% in the three months to September, reversing a recent decline. Claimant count number have been on an upward trend since last June, with only a few months of weak declines. In October, claims rose by a further 26.6k, higher only during the lockdowns, highlighting the need for monetary easing to support the economy.

——————
FxPro. Trade Like a Pro. | Subscribe