EUR/USD traded tightly above 1.0700 at the beginning of the European trading session on Friday. The US dollar struggled to gather strength ahead of crucial Personal Consumption Expenditures (PCE) Index data, the Federal Reserve's preferred measure of inflation, helping the currency pair maintain its stance.
The 4-hour chart indicates that the upward trend remains...
After the release of the US GDP figures for the first quarter of 2024, the gold market experienced a strong price surge, surpassing the $2,330 threshold, paving the way for recovery.
Currently, the price of gold is stable around $2,335, with short-term forecasts still optimistic towards buying pressure. Prospects are aimed at the psychological milestone of...
Gold prices edged modestly higher in North American trading on Thursday, rising over 0.5% after crucial economic data from the United States (US) was released. Gold is trading above the $2,330 level after rebounding from the daily low of $2,305 during Friday's Asian trading session.
However, on the 4-hour chart, the downtrend is still supported, albeit showing...
GBP/USD regained bullish momentum on Thursday, climbing above 1.2500 for the first time in nearly two weeks after closing positively for the second consecutive day on Wednesday. Short-term technical prospects for this currency pair indicate an upward trend.
Looking at the price chart, it is adjusting towards an uptrend. Prices are expected to test the SMA 50 and...
The GBP/USD slid below 1.2500, wiping out much of its daily gains, as the US Dollar staged a robust recovery following the release of the US Gross Domestic Product (GDP) report for Q1, which indicated a sharp increase in inflation. The preliminary GDP index surged by 3.1%, compared to the previous 1.7%. This has fueled expectations that the Federal Reserve will...
FET attempted to break out of our green Target Zone ($1.91 – $2.51), but bounced back from the upper edge of the range. Primarily, however, we continue to assume that the last sub-wave of the orange-colored wave iii should lead to a significant rise out of the Zone. Only a drop below the support level at $1.63 will alter our outlook. A break of this mark will...
GBP/USD has attracted attention with a strong recovery, surpassing the 1.2500 threshold during the European trading session. This currency pair capitalizes on expectations of improvement in the UK's economic outlook and the decline of the US Dollar.
Looking at the chart, we can see that the price is supported by the upward trend but still constrained by the SMA...
Gold is gradually recovering, maintaining stable gains throughout the morning session of European trading on Thursday, nearing the $2,330 threshold. Prices are expected to test the 0.5-0.618 Fibonacci area.
However, traders may prefer to wait for further signals regarding the Federal Reserve's interest rate reduction trajectory before betting on a positive direction.
Gold is slowly regaining momentum, edging closer to the $2,330 threshold, albeit encountering resistance from the simple moving average SMA 20.
Looking at the 4-hour chart reveals a continued downward trend. The SMA 20 is declining and has crossed below the SMA 100, signaling a negative trend for the market. The relative strength index (RSI) is currently below...
Time Frame: 4H
Symbol: GBPUSD
Entry: 1.25195
TP: 1.27014
SL: 1.24014
Bias: Long
The cost is trapped in a zone. There is a high likelihood of retesting the opposition level and in this manner a pleasant grand slam long trade can be set off at current cost now. Hope for the best.
EUR/USD responded to new demand and rose to 1.0750 in the European trading session on Thursday.
From a technical perspective, a positive signal is emerging as EUR/USD may be forming aa cup and handle. In this scenario, the expectation is for the price to continue rising to the first resistance level at 1.0727, followed by the psychological milestone of 1.0885.
The EUR/USD pair continues to hover around the key psychological level of 1.0700 in the early Asian trading session. Its modest increase remains steady, thanks to the softening of the US dollar (USD). Meanwhile, investors continue to adjust their strategies, anticipating the potential interest rate cuts from the Federal Reserve (Fed).
On the 4-hour chart, the...
EUR/USD maintains an upward channel oscillating around the 1.0700 level. The weakening strength of the USD is gradually paving the way for a gentle rise in this currency pair.
From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating...
Gold remains stable amidst a downward trend, given the backdrop of rising US yields. Reduced tensions in the Middle East contribute to market stability, albeit dampening the demand for gold.
Looking at the one-hour chart, it's evident that gold's potential for price appreciation is still constrained. The Relative Strength Index (RSI) has solidified around the 40...
Gold remains stable amidst the downward trend, with US yields on the rise. Reduced tensions in the Middle East contribute to market stability, dampening the demand for gold.
Looking at the 4-hour chart, technical indicators suggest limited potential for price increases. Gold is trading below the simple moving averages (SMA) 20 and 100. Meanwhile, the Relative...
In Wednesday's European trading session, EUR/USD hovered around the 1.0700 level. Positive sentiment from Germany's optimistic IFO data helped the Euro maintain its stronghold in the market.
Looking at it from a technical perspective on the 1-hour chart, there are indications of a downward movement in price. However, the upward trend remains robust. It's possible...
Gold is trading at 2325, with a notable resistance level observed at 2335. Should gold breach this resistance, traders may consider pursuing the following targets: 2343 to 2355.
Alternatively, should a sell pattern manifest, indicating a potential downturn, traders may anticipate the following support levels: The initial support rests at 2310, followed by...
USD/JPY is currently at its highest level in decades, at 155.00. This has traders concerned about the risks of Japan's intervention in the forex market. The strong recovery of the US dollar (USD) is also driving the USD/JPY higher.
From a technical perspective, the market is stable but showing signs of correction. Prices are expected to retreat to the 0.5-0.618...
