Hey warriors, let's dive into the EURUSD saga! The EURUSD just went through a rollercoaster, quickly sketching out a double top pattern before taking a sharper nosedive post the breach of the 1.083 support level. Currently at 1.074, it's attempting a slight rebound after brushing the 1.073 support, but don't hold your breath for a long recovery. With the USD...
Today's gold price is following a specific wave pattern, experiencing a dip due to the US CPI index from yesterday. Despite geopolitical risks typically benefiting XAU/USD as a safe haven, the rising US dollar could cap further gains. Yet, the short-term downside risk remains. Gold is likely to retest the $2,305 area as per the pattern before a potential uptrend resumes.
The Japanese Yen took a dip against the dollar this Wednesday, thanks to the U.S. serving up some spicy inflation figures hotter than expected. This shift has pushed back the Fed’s rate cut chatter from June to September. Also, digging into the latest FOMC minutes, it looks like U.S. officials are wary about inflation dragging its feet, which could mean keeping...
Long-term Analysis of USDJPY: This pair is navigating through the waves of Dow Theory, and for the past several weeks, it seems to be gearing up in an accumulation phase, setting the stage for a potent rally aimed at the Fibonacci extension target of 1.618 (equivalent to 176.500). However, this scenario hinges entirely on breaking through the 152.000 resistance...
BINANCE:GRTUSDT (4H CHART) Technical Analysis Update GRT is currently trading at $0.3942 and showing overall bullish sentiment. Currently the price has formed a nice descending triangle. Price has successfully broken out from the descending triangle and now the price is retesting. This is a good opportunity for a long trade with decent RR. Entry level: $...
Hey everyone, what's your take on GBPUSD today? We're sitting at a neat 1.267, and it looks like we're about to smash through that downtrend trendline. This could be our green light to jump in on a Breakout strategy, especially with EMA and support levels giving us a thumbs up. I'm eyeing that 1.279 resistance as my target. How about you? What's your game plan?
EUR/USD started the new week on a strong note, bouncing back to the 1.0860 area after Friday's dip. Market sentiment remains optimistic despite reduced bets on a June Fed rate cut, while the 10-year US Treasury yield hit a 4-month high at nearly 4.43%, reflecting shifted expectations for Fed rate cuts later this year. Despite strong US Non-Farm Payroll data...
Hey everyone, what's your take on today's glittering gold market? Gold continues its bull run into Tuesday, cruising around the $2356 mark, boasting an impressive surge of about $17, roughly equivalent to a 170 pip climb. With gold having shattered its previous resistance levels, predicting its next move is more art than science, hinging largely on market...
The US dollar is climbing against the Japanese Yen, nearing the critical 152.00 mark again. Last time it hit this level, Japan's Bank intervened. Strong US economic reports and the Fed's firm stance are pushing the dollar up, but it hasn't broken through 152.00 yet. Still, it's clear the bulls are holding strong.
Greetings everyone, today GBP/USD continues to exhibit robustness, steadfastly trading around the 1,2650 mark under the fresh glow of Tuesday's Asian market session. This currency pair is surfacing as a phenomenon on the eve of important consumer price data set to be released on Wednesday. Amidst the relentless market turbulence, the US Dollar is struggling to...
Hey lovely folks! Last week, in its final days, EURUSD experienced a fleeting rally before it commenced a correction phase that persists till now, reaching the 0.5 - 0.618 Fibonacci retracement levels. Currently priced at 1.082, if EURUSD maintains its ground above this critical Fib level, a rebound seems not just possible but probable. The next aim would be to...
Gold prices experienced a breathtaking surge of $30, hitting a new all-time high of $2,354 as the Chinese market opened. This spike comes as traders warmly embraced the People's Bank of China (PBOC)'s decision to ramp up gold purchases. Despite this, the Relative Strength Index (RSI) conditions are signaling gold buyers to tread cautiously, hinting at an...
Gold prices experienced a slight decline amidst the backdrop of a strengthening USD. The US Dollar Index, which gauges the volatility of the green currency against six major currencies, marked an increase of 0.21% to 104.105 points. This dip in gold's value comes as Federal Reserve officials continue their deliberations on the timing for interest rate cuts – a...
Dive into the USD/JPY Forecast: A Surge Beyond the Current Range! 🚀✨ With the Bank of Japan (BoJ) gradually tightening its monetary policy and the Federal Reserve's (Fed) easing cycle simmering down, a compelling blend of fundamental catalysts is set to elevate the USD/JPY beyond its current boundary of 151.000. 📈 A Hawkish Twist from BOJ's Ueda Leads to a...
The Japanese Yen (JPY) remains near its decades-low against the US Dollar, struggling for buyer interest following the Bank of Japan's (BoJ) dovish stance at its late March meeting, signaling further rate hikes are a while away. The positive risk sentiment further weakens the JPY, traditionally considered a safe haven. However, the downside may be limited due to...
Today's gold prices saw a gentle decline, establishing a peak above the high mark and then slightly retreating to $2272 after touching $2300 in the early trading hours of yesterday. Looking forward, robust economic data and persistent inflation may compel the Fed to maintain an aggressive monetary policy throughout the summer, yet this won't hinder gold's price...
GBP/USD witnessed a significant daily surge on Wednesday, further escalating early Thursday. The pair has comfortably positioned itself above the 1.2600 mark in the European trading session, with technical outlook indicating an upward trajectory ahead. The widespread selling pressure surrounding the US Dollar (USD) has been a catalyst propelling the GBP/USD...
Hello everyone! Yesterday, EURUSD witnessed a significant upward momentum, recovering strongly from support in line with the downward trendline. The weakening of the USD, spurred by below-expectation US March ISM Services PMI data and comments from Fed Chair Powell, has infused EURUSD with fresh energy, propelling it upwards in the face of the USD's retreat. In...