Gold has been hitting all-time highs almost daily for the past two weeks, reaching $2364 in the spot market on Tuesday before the start of US trading. The ability to rise above $2071 per ounce, which gold found in late February, has signalled a break of resistance that has kept gold above since August 2021 Gold is now rising more actively than it did in the...
In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8727 support holds. But upside should be limited by 0.9241 resistance, at least on first attempt. However, decisive break of 0.9242 will argue that the...
The GBP/JPY pushed into fresh multi-year highs on Thursday as the pair grinds towards the 195.00 handle. The Japanese Yen (JPY) continues to weaken across the broader FX market, prompting increasing rhetoric from the Bank of Japan (BoJ) regarding direct intervention in currency markets to shore up the beleaguered JPY. The BoJ is expected to discuss intervention...
In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Fall from 1.2892 is seen as the third leg. Deeper decline would be seen to 1.2036 support and possibly below. But strong support should emerge from 61.8% retracement of 1.0351 to 1.2452 at 1.1416 to complete the correction
Regarding the Greenback, sellers appeared back in the market after US Q1 GDP figures came in short of expectations and quarterly inflation prints ticked higher, reigniting speculation that the Federal Reserve (Fed) might keep its restrictive stance for longer. Meanwhile, the daily advance in the Australian dollar was accompanied by further improvement in the risk...
In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below, Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete th
Bitcoin halving is here, an event expected to raise the curtain on the next market cycle. There has been a lot of turbulence in the market of late. Events such as flows from exchange-traded funds (ETFs) and tensions in the Middle East between Iran and Israel have sent traders into their shells. However, there could be some relief in the market after Iranian...
XAU/USD trades near $2,371 and the daily chart shows that the slide may continue. Technical indicators retreat from extreme overbought levels, suggesting the decline may continue. Still, a steeper slide remains out of the picture, as XAU/USD refuses to give up developing its moving averages above all Simple Moving Average (SMA) maintains its firmly bullish slope...
Echoing this sentiment, the ECB's Cipollone observed a rapid decline in inflation, expressing expectations for a return to the 2% path next year and attainment of the target by mid-2025. Should data in June and July confirm growing confidence in achieving the target, consideration would be given to easing some of the restrictive measures imposed in 2023....
EUR/USD is still bounded in range trading above 1.0601 and intraday bias remains neutral. Strong resistance should be seen from 1.0723 to complete the corrective rise from 1.0601. Break of 1.0601 will resume the fall from 1.1138 to 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0535 next. Nevertheless, firm break of 1.0723 will bring stronger rebound to 55 D...
XAUUSD for stocks to come off the boil And now that the fears are abating it is also providing a good reason for gold to also let out some of the steam Gold made some attempts to top earlier this month but failed to see a daily close above the key level And now price is starting to feel exhausted as it falls back to on the day
The Fib retracement outline shows that we could see a push towards $2,260 next at least before some semblance of support That coming from the Fib retracement level The next key stop after that might be a push towards Xauusd sell now 2295_2300 Tp 2290 Tp 2280 Tp2260 So 2310
XAU/USD trades near $2,371 and the daily chart shows that the slide may continue. Technical indicators retreat from extreme overbought levels, suggesting the decline may continue. Still, a steeper slide remains out of the picture, as XAU/USD refuses to give up while developing its moving averages above all Simple Moving Average (SMA) maintains its firmly bullish...
Looking at the 4-hour chart above, the price is now within a swing area that was a highlight going back to February and into March. That ceiling was ultimately broken in mid-March, and has traded above and below the swing since that time. Earlier this week, the price move back above the swing area, but has reversed lower. Technically, the price is looking to test...
Gold probed above for the second time, inflated by increased safe haven demand following Israel’s attack on Iran early Friday Although the spike above the metal’s price reached was so far short lived, near-term focus remains at the upside, as fears of further escalation in the region will continue to fuel demand Technical picture is firmly bullish as indicators...
Given that the momentum indicators are heavily tilted to the downside, Bitcoin could revisit its March bottom of In case of a downside violation, there is no prominent support until the resistance zone of
EURUSD session on Friday but managed to recover to the area In the absence of high tier data releases, investors will keep a close eye on headlines surrounding the Iran Israel conflict
AUDUSD Last night in Japan BOJ policymaker Asahi Noguchi highlighted the mixed impacts of a weaker yen noting that while some large firms have benefited it poses broader economic challenges Noguchi expressed increasing confidence in reaching the