Gold’s recent rally accelerated last Friday, driven higher by weak US economic data, and the rally back towards a new all-time high has continued this week with the precious metal posting a $2,141.8/oz. peak yesterday. This left gold just $3 short of printing a new ATH. The technical outlook for gold remains positive and suggests that the precious metal will...
On an hourly timefraame, EURUSD printed Bullish Divergence followed by a Bullish Pennant Pattern suggesting a Bullish shift.
Entry is suggested on the breakout of previous high with a stop loss on previous low. TP levels are suggested with Risk Reward Ratio of 1:1 and 1:2
OANDA:XAUUSD MARKET ANALYSIS AND COMMENTARY - WEEK 17 - 2024
ECONOMIC COMMENTARY
This week, international gold prices continued to increase beyond the threshold of 2,400 USD/oz to 2,417 USD/oz, but then gradually decreased and closed at 2,390 USD/oz.
Gold prices rose again to exceed 2,400 USD/oz on April 19 due to an attack believed to be by Israel...
The Forex Market is very consistent. It repeats itself day in and day out.
It is an objective force of nature and follows rules.
Therefore if you leverage the rules inside of an objective strategy you are able to extract as many pips out of every Macro move that the asset you are trading makes.
Today we understand that EURUSD is Bullish. Therefore the...
The Momentum Trap: Gold's relentless rise could be fueled by a self-fulfilling speculative frenzy. This trend
Gold sell now 2382_2385
Tp2370
Tp2360
Sl2392
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🔍 The Japanese yen (JPY) continues to weaken against other major currencies such as EUR, USD, and GBP, including the Canadian dollar (CAD), losing its value.
🕰️ In the weekly timeframe, if the current candle closes similarly, we observe strong buying pressure, with last week's two red engulfing...
💹 Let's analyze and review this forex pair together.
🌐 Outside of the chart, we're witnessing the weakening of the Japanese yen in the long term, with bullish market cycles against the dollar and the euro. Over time, this currency is gradually losing strength compared to global powers.
💰 In the weekly timeframe, we're entirely bullish and encountering...
GBPUSD seen as the third leg Deeper decline would be seen to support and possibly bullish But strong support should emerge fromretracement of complete the correctional
EURUSD The latest inflation report for March spooked everyone showing consumer prices soaring by 3.5%, way above expectations What does high inflation mean It means the Fed's gonna keep interest rates high for longer to fight it As soon as that data hit you could practically hear the market's collective gulp with the EURUSD
BTCUSD strong bullish and high risk trade in Remember trading is inherently risky and it's crucial to engage with the market based on thorough analysis and personal risk appetite
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Gold Geopolitical frictions in the Middle East have further bolstered gold although these risks have intensified only recently and haven't been a predominant theme for an extended period To add context investors have been nervous about Iran's potential retaliation against Israel following the bombing of its embassy in Syria Such action could escalate tensions in...
XAUUSD period off its best levels established briefly on Friday during the New York session when it toucheda fresh record Considering recent performance the precious metal has increased in seven of the last Eight
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Gbpusd average This is generally a reversal pattern so we can expect the sellers to sell any rally now as they target a breakout below the support The price got a bit overstretched yesterday as depicted by the distance from the blue moving average In such instances we can generally see a pullback into the moving average or some consolidation before the next move
XAUUSD Strong Report A surprisingly strong jobs report could signal a resilient economy, leading the US central bank to hold off on plans to ease interest rates imminently This scenario should be down for the US dollar but is likely to put downward pressure on precious metals like gold and silver
There simply wasn't enough investor demand This lack of interest was probably due to the hope that inflation would slow bullish quickly and the economy would not suffering
