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S&P 500 Technical Analysis – The path of least resistance remains to the upside 0 (0)

Fundamental
Overview

Last week, we got a
pullback in the S&P 500 as the higher than expected inflation readings and
a less dovish Powell weighed a bit on the market.

Despite the recent events
though, the market’s pricing remained largely unchanged at three rate cuts by
the end of 2025. This might be a signal that the market is now fine with the
current pricing, and we will need stronger reasons to price out the remaining
rate cuts.

The only bearish reason we
had for the stock market was the rise in Treasury yields. That’s generally
bearish only when the Fed is tightening policy though not when yields rise on positive
growth expectations.

Right now, the Fed’s
reaction function is that a strong economy would warrant an earlier pause in
the easing cycle and not a tightening. That should still be supportive for the
stock market in the bigger picture considering that Trump’s policies include
tax cuts and deregulation.

If the Fed’s reaction
function changes to a potential tightening, then that will likely trigger a big
correction in the stock market on expected economic slowdown.

For now, the pullbacks look
as something healthy and opportunities to buy the dips.

S&P 500
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that the S&P 500 dropped below the 5918 support level but bounced back a couple of days later
as the dip-buyers took advantage. As long as the price stays above the 5918
level, we can expect the buyers to pile in to position for a rally into a new
all-time high. The sellers, on the other hand, will want to see the price falling
back below the support to target a test of the trendline.

S&P 500 Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see more clearly the choppy price action around the 5918 level as the market
continues to wait for catalysts to push into either direction. There’s not much
else we can glean from this timeframe although the 5918 level will likely act
as a barometer for the sentiment.

S&P 500 Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have another minor support around the 5930 level. If we get a
pullback, the buyers will likely step in around those level with a defined risk
below them to position for a rally into a new all-time high. The sellers, on
the other hand, will look for a break lower to target a drop into the major trendline.
The red lines define the average daily range for today

Upcoming
Catalysts

Tomorrow, we
get the latest US Jobless Claims figures, while on Friday we conclude the week
with the US PMIs.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Go to Forexlive

Eurozone negotiated wage growth seen accelerating in Q3 0 (0)

That’s a bit problematic for the ECB as pay growth is seen accelerating once again. That is unlikely to put off a December rate cut though as the wages data here hasn’t really translated to any significant reacceleration in consumer prices. So, the hope for policymakers is that wage pressures should fade going into next year. But we’ll see.

This article was written by Justin Low at www.forexlive.com.

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NZDUSD Technical Analysis – The lack of catalysts keeps the market rangebound 0 (0)

Fundamental
Overview

The US Dollar continues to
consolidate despite the higher-than-expected inflation figures and a less
dovish Powell last week. The market’s pricing remained largely unchanged at
three rate cuts by the end of 2025.

This might be a signal that
the market is now fine with the current pricing, and we will need stronger
reasons to price out the remaining rate cuts. This could lead to some general
US Dollar weakness in the short term.

On the NZD side, the market
is pricing an 80% chance of a 50 bps cut at the upcoming meeting and a total of
142 bps of easing by the end of 2025. Inflation is back in the RBNZ’s target
range, so the central bank can focus on growth now especially with the unemployment
rate continuing to climb.

NZDUSD
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that NZDUSD bounced from the key support
around the 0.5850 level and rallied into the major trendline
where we got some rejection as the sellers stepped back in. The buyers will
want to see the price breaking above the trendline to increase the bullish bets
into the 0.6050 resistance, while the sellers will look for a break below the
0.5850 support to target the 0.5773 low.

NZDUSD Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that the price rejected the swing low level at 0.5912 near the major
trendline as the sellers stepped in with a defined risk above the trendline to
target the break below the 0.5850 support. There’s not much else we can add here
as the buyers will need a break above the trendline to gain more conviction for
further upside.

NZDUSD Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have a minor support zone around the 0.5780 level. This is where we
can expect the buyers to step in with a defined risk below the support to
position for the break above the major trendline with a better risk to reward setup.
The sellers, on the other hand, will want to see the price breaking lower to increase
the bearish bets into new lows. The red lines define the average daily range for today.

Upcoming
Catalysts

Tomorrow,
we get the latest US Jobless Claims figures, while on Friday we conclude the
week with the US PMIs.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Go to Forexlive

Take on the Prop Trading Challenge with Ultimate Traders 0 (0)

Proprietary (prop) trading as a concept has
experienced a huge surge in popularity over recent years, developing into an
established way of trading for many across the world, while ushering in a new
era in terms of how trades are conducted.

For the many companies now operating within
the sector, prop traders are typically expected to pass a lengthy, multi-level
evaluation process before being deemed appropriate to proceed to the funded
account stage.

This can lead to intense frustration from
some participants, particularly skilled or experienced ones, who end up finding
themselves caught up in a cycle of repetitive evaluations that can negatively
affect both their emotions and outcomes.

Ultimate Traders tackles this problem head on,
with the innovative prop firm removing the need for a second evaluation stage
as part of its ‘Speedy Challenge’ – meaning competent traders can kickstart
their trading journeys without unnecessary delay.

The
speedy way to account funding

Unlike traditional multi-tier structures
offered by various other firms, the Speedy Challenge provides a fast-track
route on the path to a live funded trading account through its unique
single-tier structure.

Designed for experienced, disciplined
traders with rapid results in mind, this challenge saves time and effort,
bypassing the drawbacks of conventional evaluations. It allows individuals to
skip the second step by going directly to a funded account once the challenge
is successfully completed.

It provides traders with up to 1:30 leverage on forex, with tailored leverage
for other assets like commodities, indices, and cryptocurrencies, giving them
greater control over their trading strategies. There is also full transparency
in the pricing structure, with entry fees starting at $79, while VAT is applied
on challengers from the UK or EU.

The Speedy Challenge offers quicker access to
capital, with multiple account sizes ranging from $5,000 to $200,000, allowing
traders to reach the account funding stage and generate profits faster.
However, this accelerated path comes with tighter risk controls, including a 4%
drawdown limit, compared to the 6% cap offered in the company’s ‘Classic
Challenge’.

Unlocking
the Speedy Challenge benefits

With no fixed deadlines, participants who
sign up for the challenge are encouraged to trade on the days when the market
conditions are favourable, meaning there is no time pressure with regards to
generating profit on either the live or evaluation accounts.

Aside from the obvious fast-track benefits
associated with the Speedy Challenge, traders are able to get excellent value
out of their registration fee, which is unmatched by other prop firms. It
represents only a small fraction of the account balance and is refunded once
the first withdrawal is made from their live account.

Another helpful feature for traders is the
access they have to automated trading tools, with Ultimate Traders granting
permission to use Expert Advisors (EAs) so long as they are not used in an
abusive way.

Important day trading techniques such as
scalping and hedging are also permitted, meaning traders can modify their
strategies and manage risk more effectively, particularly during periods of
rapid market fluctuation.

Optional add-ons and fast withdrawals

Challengers have several opportunities to
further tailor their prop trading experience through a series of optional
add-ons, which include removing stop-loss requirements, and enabling news
trading during high-volatility events. They can also opt for a 90/10 profit
split in order to retain more of their earnings.

Once funded, traders are able to benefit from flexible withdrawals, with the
ability to withdraw profits every 14 days, which is significantly better than
the industry-standard 30-day cycle. This added flexibility provides quicker
access to profits, supporting financial freedom and motivating participants to
maintain high levels of performance.

Ultimate
Traders’ trading rules

Once a trader accepts the challenge, they
are expected to meet a defined set of rules before they are entrusted with the
company’s capital in a fully-fledged funded trading account, with the most
important rules outlined below.


Minimum of 3 Trading Days: Traders must
place at least one trade on three separate days, but this rule is removed for
those with a funded Ultimate Traders account.


4% Daily Drawdown Limit: Losses cannot
exceed 4% of the previous day’s recorded equity, including both balance and
floating P&L.


6% Maximum Loss Limit: Total losses must
not exceed 6% of the account size, with the limit trailing until it matches the
initial balance, where it remains fixed.


10% Profit Target: Traders need to reach
a 10% profit target (e.g., $100,000 account must grow to $110,000) with no time
limits imposed.


Weekend Trading / Stop-Loss: All trades
require a stop-loss and must close before the weekend, unless traders pay a 10%
premium to lift these restrictions.

Offering an accelerated path to trading
capital, the Speedy Challenge is well suited to disciplined prop traders who
can manage risk effectively under tighter constraints and are looking to
progress without the usual delays associated with completing multiple
evaluation phases.

Looking to take on the challenge? To find
out how to get started, click here.

This article was written by FL Contributors at www.forexlive.com.

Go to Forexlive