Gold managed a slight recovery from its 5-month lows on Friday, benefiting from a minor retreat in both the U.S. dollar and bond yields. However, bullion was still on track for its fourth consecutive weekly decline due to concerns over the Federal Reserve's potential decision to maintain higher interest rates for an extended period.
At 0358 GMT, spot gold gained...
Subsequently, on Thursday, Evergrande, another prominent Chinese real estate company, filed for Chapter 15 protection within the United States. Chapter 15 is akin to filing for Chapter 11, aimed at companies with both international operations and a presence in the US.
Historically, financial markets have displayed apprehension when the potential for contagion...
GBP/USD: Data from retail traders reveals that 48.97% of them have taken net-long positions, resulting in a short-to-long ratio of 1.04 to 1. Interestingly, traders have maintained net-short positions since August 1st when GBP/USD was trading around 1.28, and the price has decreased by 0.33% since that time. The count of traders in net-long positions has decreased...
The gold price is facing pressure once more as Friday's trading session approaches, largely due to the US Dollar's ongoing strength supported by increasing Treasury yields.
Overnight, the DXY (USD) index reached its peak since early June, coinciding with spot gold touching its lowest point since March, briefly hitting US$1885 per ounce.
The substantial rise in...
Analysis:
Bullish Confluences
Strong upwards trend
Retesting a previous key level
61.8% fib retracement level touch
Long term upwards trendline touch
Falling wedge pattern forming
3k long position decrease for the USD
Stay Safe- The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or...
Trading proposals post based on price action, technical analysis, major intraday supports and resistances, rejections, breakouts, chart patterns and other factors .
Trading suggestion :
📍 GBPUSD
🔰 LONG
🟢Buy Now or Buy at : 1.2705
⛔️Stop Loss : 1.2650
🌀Take Profit 1 : 1.2875
🌀Take Profit 2 : 1.2976
🌀Take Profit 3 : 1.3140
⛔️ Trading and investment...
Analysis:
Bullish Confluences
Longer term upwards trend
Retest of a key level
Upwards trendline touch
EUR is the strongest major currency whereas the USD is the 3rd strongest major currency
12K short position decrease for the EUR
6K long position decrease for the USD
Bearish Confluences
14K long position decrease for the EUR
1K short position...
Trading proposals post based on price action, technical analysis, major intraday supports and resistances, rejections, breakouts, chart patterns and other factors .
Trading suggestion :
📍 USDJPY
🔰 SHORT
🔴Sell Now or Sell at : 146.25
⛔️Stop Loss : 146.57
🌀Take Profit 1 : 144.85
🌀Take Profit 2 : 143.05
⛔️ Trading and investment in the financial markets...
Well, as you can see the price penetrates below 1893 yesterday.
Now I am still bearish on the Gold chart and I expect the price to fall more to fill FVG.
We have two different scenarios:
The first scenario is the price starting the downward movement from 1902- 1906.
The second scenario is the price starting a downward movement from 1910-1920.
For these...
After flirting with 0.6050-0.6070 zone support, exactly a week ago, NzdUsd managed to break under and at the time of writing is trading well under the psychological 0.6.
The overall structure is strongly bearish and we could probably see down continuation.
0.6050 is now resistance and, in my opinion, rallies towards 0.6 should be sold considering a stop above...
On Wednesday, gold relinquished its previous gains and slipped below $1,905, marking its lowest point since March. This decline was prompted by the release of minutes from the latest FOMC meeting, which extended the projected timeline for the Federal Reserve's potential interest rate reductions. This shift dampened demand for assets like gold that don't bear...
Gold remains stable during the early hours of the Asian session, and there's a chance of a technical recovery as a response to the eight consecutive days of price decline observed on Wednesday, with prices reaching their lowest point since July 6. Some experts believe that the potential for Chinese purchasing could also provide support to the precious metal....
On Thursday, the U.S. dollar's persistent strength drove the yen further towards a zone that might warrant intervention. This movement was driven by the robust state of the U.S. economy, which highlighted the necessity for maintaining higher interest rates for an extended period. This stood in contrast to the considerably dovish stance of the Bank of Japan.
In...
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Gold futures finished below $1,900/oz Wednesday, falling for the eighth straight session to its lowest settlement in five months, pressured by higher U.S. Treasury yields and a firm dollar.
Treasury yields finished higher across the curve, including a 4 bps increase on the benchmark 10-year yield to 4.26%, while the dollar index rose 0.2%, making bullion more...
Gold prices touched a five-month low on Thursday, as both the U.S. dollar and Treasury yields gathered momentum due to recent positive economic data, reinforcing the anticipation that the Federal Reserve would continue its policy tightening trajectory.
As of 0335 GMT, spot gold (traded as GOLD) maintained its position at $1,893 per ounce, after descending to its...
Gold concluded another day with losses on Wednesday, marking its eighth consecutive session of decline, even as the dollar and treasury yields exhibited relative stability.
The December delivery contract for gold recorded a decrease of $6.90, closing at $1,928.30 per ounce.
This decline coincides with robust economic reports that are reinforcing the dollar's...
Over the past eight sessions, gold prices have experienced consecutive declines alongside a rise in the benchmark 10-year U.S. Treasury note yield, reaching levels not seen since 2008 earlier this week.
The minutes from the Federal Reserve's July meeting revealed that a majority of senior officials expressed the likelihood of requiring further tightening of...
