Gold prices saw a slight uptick at the close of the North American trading session, rising 0.22% after Fed Chair Jerome Powell’s hawkish remarks. Economic data from the U.S. was mixed, though Monday’s retail sales report and Powell's comments drove U.S. Treasury yields higher, limiting the gains for the yellow metal. From a technical standpoint, XAU/USD is poised...
Hey everyone, quick take on the gold market: should we buy or sell today? Gold dipped hard yesterday below $2325 but bounced back fast, now chilling around $2383. It's close to its record high and doesn't seem to cool off. Despite the U.S. dollar and Treasury yields going up, gold is holding strong, probably because of the tensions in the Middle East and bets on...
Gold prices continued their upward trend for the third day this week, stabilizing above the significant price area of $2,371. Despite recent market volatility, gold has maintained its upward momentum, demonstrating the underlying strength of the buyers at this time. Having surpassed previous resistance levels and historical data, we now turn to the extended...
USD/JPY continues to surge following its breakout above the 152.000 resistance level. The outlook for this pair remains bullish as the USD gains strength over the JPY, amidst Japan's current economic struggles and volatility. I maintain a bullish stance on this currency pair, as there are no signs of peaking yet, and prices remain stable above both the 34 and 89...
Hey everyone, today the USDJPY is hitting new heights, currently cruising around 153.80 and marking a daily increase of 0.38%. This currency pair has been on a tear since a solid consolidation last Friday. With no historical price levels left to target, USDJPY is charting its own course, but we can still ride the market trend. The outlook remains bullish as it...
GBP/USD dropped for the third day in a row on Tuesday, hitting its lowest point since November 17 during the Asian session. The spot price is now hovering around 1.2420 as traders await the upcoming UK monthly employment report for fresh clues. Market consensus predicts a rise in the number of unemployment benefit claims to 17.2 thousand from the previous 16.8...
Hello everyone! This Monday morning brought a refreshing climb for GBP/USD, which surged above 1.2450 after hitting its lowest point since November at 1.2426 last week. While the technical indicators still suggest a downtrend, easing geopolitical tensions could potentially extend this pair's recovery phase. As the weekend approached, investors sought safe havens...
Kicking off the trading week, gold prices have rebounded sharply, opening at $2,361 per ounce—a $17 increase from last week's close. This uptick is largely influenced by the escalating geopolitical tensions in the Middle East, boosting demand for gold as a safe-haven asset. Technical charts show that gold remains robust, consistently trading above the EMA 34 and...
Gold prices are surging amidst escalating tensions in the Middle East, following Iran's recent attack on Israel. Surprisingly, the US dollar remains steady, as market sentiment is relatively calm despite the geopolitical strains. Gold could see further support ahead of the upcoming U.S. retail sales data. The initial target is today's high of $2,373, with the...
Hey everyone! Quick update: Gold was on a wild ride yesterday, dropping to $2,330 and then surging up to $2,392, netting a cool $62 gain in no time. That’s some solid proof that gold's still got its mojo despite all the market madness. With U.S. inflation heating up, it looks like the Fed might hold off on any big monetary moves, which only strengthens gold’s...
Gold prices (XAU/USD) are riding the wave of a recent breakout, scaling towards the $2,400 mark, a potential new all-time high, during early European trading on Friday. Technically speaking, the strong positive momentum continues unabated, despite the Relative Strength Index (RSI) being extremely overbought on the daily chart. However, bulls might consider taking...
On Friday morning in the Asian session, GBP/USD remained low around 1.2550. Expectations that the Bank of England might cut rates before the U.S. Federal Reserve are weighing down on the British Pound and the currency pair. Indicators are trending downward, and a bearish crossover between the EMA 34 and 89 is adding pressure to the pair. UK Industrial Production...
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?