The euro is experiencing limited movement against the dollar at the beginning of the week, with traders awaiting new catalysts, according to Dorothea Huttanus, an analyst at DZ Bank Research. The eurozone's data calendar for Monday is relatively quiet, although German producer prices dropped by 6.0% year-on-year in July, surpassing the 4.8% decline predicted in...
On Monday, gold remained below the $1,900 per ounce mark, staying in close proximity to its lowest levels in five months. This trend emerged as investors prepared for the annual gathering of central bankers in Jackson Hole, Wyoming later in the week, seeking insights into the economic and interest rate landscape.
Furthermore, the metals faced downward pressure...
Despite GBP/USD confirming a breakout below the significant rising trendline from the previous year, the British Pound held its ground against the US Dollar in the past week. The 100-day Moving Average remained a crucial support level, preserving the broader upward focus. However, a closer examination of the overall price action reveals the potential formation of...
Gold prices stabilized on Monday, finding support above their lowest levels in five months. This followed a five-session decline, with investors gearing up for the central bankers' gathering in Jackson Hole, Wyoming, scheduled for this week, where they anticipate discussions on the economic outlook and interest rates.
- Spot gold remained unchanged at $1,888.36...
"The US Dollar Dominates, Gold Struggles, and Equity Markets Face Volatility"
The US Dollar had a strong week, outperforming other major currencies. Gold prices suffered, primarily due to rising longer-term Treasury yields, as financial markets anticipated a higher terminal rate from the Federal Reserve, supported by robust economic data.
Equity markets also...
if you look at the price movement last week, there is a possibility that a reversal will occur. I still use the Eliot Wave notation a few weeks ago with the assumption that the price will be bullish with the invalid area boundary below. if the area is violated then the elliot wave notation will change and the trend will probably be a complex correction wave.
wave 3 ends at the fibo extension of 1.618 and currently the price is forming wave 5. which at the end of this weekends at the fibo extension of 0.382. if you see the trend movement that is happening, there is a possibility that there is still a continuance of the bullish trend towards the 0.618 fibo extension which also intersects with the 2.618 fibo extension
seeing that the RSI is saturated and diverging, there is a possibility that the price will return for a correction. there is an opportunity to take profit on a short position with a possible 500pips
if this analysis is responded positively, then the RSI which is showing convergent indications at this time may respond positively to the market with a limited bearish occurrence in the support area that has been tested below.
Seeing that the GBPAUD market structure looks very bullish, although at this time if you see that the RSI is already at saturation point, there is a possibility that the price will correct itself in the SnD area and then continue to be bullish again.
Analysis:
Bearish Confluences
Strong longer term downwards trend
Retest of a key resistance level
Longer term downwards trendline touch
Head and shoulders pattern present
9k long position decrease for the GBP
1k long position increase for the CHF
2k short position decrease for the CHF
Bullish Confluences
GBP is the 2nd strongest major currency...
hello guys...
eurusd broke the ascending trendline and broke the head and shoulders pattern and made it a continuous pattern as well.
now we can consider that this pair want to reach the blue area and after that start a quick short position,
from my point of view, the main trend in a higher time frame is bullish
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always do...
Analysis:
Bearish Confluences
Strong downwards trend
Retesting an area of resistance
61.8% fib retracement level touch
Downwards trendline touch
In a descending channel
8k short position increase for the AUD
2k short position decrease for the JPY
Bullish Confluences
AUD is the 3rd weakest major currency whereas the JPY is the weakest major...
Hello Traders,
We discussed the analysis of Dollar continuing its' bull run on August 14th.
Dollar went as expected,therefore, causing Eurusd and Gbpusd to go bearish
Trading proposals post based on price action, technical analysis, major intraday supports and resistances, rejections, breakouts, chart patterns and other factors .
Trading suggestion :
📍 XAGUSD - Silver
🔰 LONG
🟢Buy Now or Buy at : 22.6444
⛔️Stop Loss : 22.3985
🌀Take Profit 1 : 23.2656
🌀Take Profit 2 : 23.7137
🌀Take Profit 3 : 24.6600
⛔️ Trading...
Gold is experiencing a slight increase in the early trading hours of the Asian market, which appears to be a probable technical recovery. On Thursday, gold futures recorded their ninth successive session of decreases, marking the lengthiest sequence of daily losses since 2017. The diminished strength of the US dollar, a factor that traditionally enhances the...
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...
