Gold experienced a strong bearish impulse yesterday, intensifying the selling pressure following the release of the FOMC minutes. This downward movement persisted well beyond the initial reaction to the news. Today, the price has reached a significant demand area, presenting a potential buying opportunity at a discounted price. The current price level is below the...
Gold experienced a decline following the retracement observed on Tuesday but opened Wednesday on a positive note. Today, members of the Federal Reserve (Fed) issued warnings that the US central bank requires much more compelling evidence that inflation is easing before it can begin cutting interest rates. This caution from the Fed underscores the likelihood that...
The GBP/NZD pair has shown a positive reaction to a significant demand area, with the price beginning to increase in value this morning. This upward movement is accompanied by an RSI divergence originating from oversold levels, which typically signals a potential reversal and further price appreciation. The presence of this RSI divergence strengthens the bullish...
The GBP/JPY Futures have demonstrated seven consecutive days of growth, characterized by a consistent retesting of previous market inefficiencies and increasing volumes. Each day, the price has closed above the volume range of every candle, while also maintaining its position above the Volume Weighted Average Price (VWAP). Additionally, the Delta has consistently...
Gold prices extended their gains on Monday, trading just below the all-time high of $2,450 reached during the Asian session. This movement is driven by growing expectations that major central banks, including the Federal Reserve, may ease monetary policy in 2024. After hitting the peak at $2,450, the price experienced a retracement to the 50% Fibonacci level,...
Gold Futures Footprint Analysis on the H4 Timeframe reveals an intriguing market dynamic. Monday's opening saw a bearish candle, characterized by a spike that retraced to the previous Point of Control (POC) volume of the preceding candle. This retracement occurred concurrently with a block of previous bullish orders (513+535), suggesting a potential area of...
The EUR/JPY presents a compelling price action scenario with notable opportunities. Recently, the pair encountered strong absorption at the 171.500 level, evidenced by a significant spike indicating substantial seller presence in this price area. This absorption led to a pronounced bearish impulse driving the price down to the 164.000 level. Since then, the price...
Following our previous analysis of the EUR/USD pair, the price has approached the 1.0900 round level, which is significant as it is forming a potential double top pattern. This movement includes a retest of the previous high reached last Wednesday. Currently, there are no major news events impacting the market, which indicates that the price may experience a...
GBP/USD underwent a technical correction, retracing to approximately 61.8% from the previous swing high before concluding Thursday's session in negative territory. The pair has continued its downward trend early into Friday. Comments made by Federal Reserve (Fed) officials on Thursday contributed to a rebound in US Treasury bond yields and bolstered the US Dollar...
In Wednesday’s New York session, the EUR/USD pair surged to a monthly high, nearing 1.0870. This rise in the major currency pair was fueled by developments such as the United States Consumer Price Index (CPI) easing in line with estimates, and the monthly Retail Sales figures remaining stagnant for April. The anticipated decrease in price pressures within the US...
Following a notable rebound at the daily 61.8% Fibonacci retracement level, the GBP/USD appears poised for a potential bullish impulse continuation, particularly from the level around 1.23500. The recent downturn in the US Dollar's value, which concluded the week on a significant decline, correlates with a broader trend of decreasing US yields across various...
On Wednesday, the price of gold (XAU/USD) saw an upward trajectory following the release of notable economic data. Specifically, the US Consumer Price Index (CPI) and Retail Sales data for April came in lower than economists' expectations. This unexpected downturn in economic indicators has led to speculation that the Federal Reserve (Fed) may take measures to cut...
During the early trading hours of Friday's European session, the USD/CHF pair sustained its downward trajectory for the third consecutive day, with its value depreciating to 0.9080. This extended decline comes on the heels of a recent pullback from a notable seven-month peak, observed around the formidable resistance zone positioned at 0.9200. The retreat in value...
Following the USD/JPY's ascent to 160.200, the currency pair underwent a reversal, marked by a retracement to the 50% Fibonacci level and subsequent bearish momentum, driving prices down to approximately 151.885. In Japan, Masato Kanda, a prominent figure in currency diplomacy, hinted at potential measures to address market volatility, signaling possible...
On Tuesday, the price of gold stabilized as mounting geopolitical tensions spurred demand for the safe-haven asset. Escalating protests against Israel’s presence in Gaza, Russia’s initiation of a new conflict in Ukraine, and concerns regarding potential disruptions in global trade have heightened the perception of geopolitical risk. The decision by BRICS nations...
The GBP/JPY experienced a notable turnaround at the 200.500 level following reports indicating potential direct intervention by the Bank of Japan (BoJ) in the foreign exchange (FX) markets. This intervention, suspected to have occurred twice within a two-day span earlier this week, aimed to bolster the beleaguered Japanese Yen (JPY). Disclosure reports from the...
The Pound Sterling's recovery has encountered a standstill amidst robust speculation regarding early rate cuts by the Bank of England (BoE). Concurrently, the GBP/CAD pair, after establishing a bottom within its channel around 1.68880, initiated a pronounced bullish surge, propelled by a convergence of technical and seasonal indicators. Technically, the price...
On Monday, the price of gold experienced a rebound as market participants deliberated over the trajectory of interest rates in light of recent US employment indicators. According to Friday's data released by the Bureau of Labor Statistics, the US Nonfarm Payrolls report indicated that 175,000 individuals secured employment in April, falling below market...