Want to know which trading instruments are likely to make waves in the second half of 2024? The experts at Doto, a licensed CFD broker making trading as simple and smart as it gets, picked the top-10 instruments you won’t want to miss.
From forex pairs to stocks, here’s a rundown of what’s worth keeping an eye on. Major Forex pairs: EURUSD, USDJPY, GBPUSD Since the beginning of the year, major forex pairs like EURUSD, USDJPY and GBPUSD have been hot topics among traders, and the spotlight is only going to get brighter.
This pair has been in a consolidation channel since February, bouncing between the resistance at 1.1000 and the support at 1.0610. Now, with the Federal Reserve’s expected rate cuts, EURUSD is edging closer to 1.1000. The upcoming US elections could add more volatility depending on the winning party’s stance on economic policies.
Driven by inflation rates in both the UK and the US, this pair is seeing significant movement. With UK inflation still on the rise, the Bank of England could delay rate cuts, which may pull the pair lower to 1.2540 and 1.2340. On the upside, GBPUSD is limited by a strong resistance at 1.3100. This is one of the most intriguing currency pairs to watch in the second half of 2024. The Bank of Japan’s monetary policy changes coupled with the Federal Reserve’s potential rate cut could push USDJPY to the 140.20 level, making it a hot spot for traders. Stocks: NVIDIA, Morgan Stanley, Exxon Nvidia: This AI tech stock continues to attract attention. There’s a high chance of a correction to $100 and a fall further downwards before the price reverses.
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