The Fed signaled they want to be cutting rates and there’s a geopolitical risk concern that continues t markets around these wars, both in Ukraine and in the Middle East, which is gold supportive,” Ilya Spivak, head of global macro at Tastylive said. “Gold prices are in a rangebound trade for most time this month and a break above current resistance level around...
XAUUSD adopt a more hawkish posture signaling that more patience is needed before removing policy restraint and that fewer rate cuts than initially anticipated
On the daily chart, we can see that GBPJPY got rejected by the upper bound of the rising channel and extended the drop as the BoE made another step towards rate cuts with the hawkish members changing their vote from a hike to a hold. From a risk management perspective, the buyers will have a much better risk to reward setup around the lower
Intraday bias in USD/CHF remains on the upside at this point. Current rally from 0.8332 should target 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062. Firm break there will target 0.9243 key medium term resistance next. On the downside, below 0.8963 minor support will turn intraday bias neutral and bring consolidations first. But outlook...
GBPJPY falling soon which is generally considered a signal of weakening momentum often followed by pullbacks or reversals In this case it might be a signal for a pullback into the lowered bound Of the channel but we will need a catalyst to kick off such a big corrections
USDJPY seemingly routine trades can upset the delicate balance between supply and demands with fewer traders around to absorb buy and sell orders Hence exercising caution is highly recommended for these
“The next move probably hinges on this week’s PCE Index release. Evidence of further disinflation in the U.S., which would ease fears of prices accelerating or at least re-anchoring at a higher level, would be very bullish for gold.” Gold prices hit a record high last week after Fed policymakers indicated they still expected to reduce interest by three-quarters of...
On the 4 hour chart, we can see that the price recently broke out of the trendline that was defining the uptrend since the 146.50 level. We can also notice that we had a double top at the resistance level, but the price will need to break below the neckline at 150.36 to confirm it. This recent breakout should point to at least a pullback into the neckline, but...
Intraday bias in GBP/USD stays neutral, as consolidations from 1.2574 continues. Risk will stay on the downside as long as 55 4H EMA (now at 1.6901) holds. Below 1.2574 will resume the fall from 1.2891 to 1.2516 structural support first. Decisive break there will suggest that rise from 1.2032 has completed at 1.2891 already, and turn near term outlook bearish.
The best approach I can see working here today would be to look for a long scalp from a bounce off the support at $1.0831 or a short scalp from a bounce off the resistance at $1.0854 In the unlikely even that the price reaches $1.0921 today, that could be a great entry point for a short swing trade if we start to see a bearish reversal from that level
XAUUSD Taking into account todays developments bond yields will struggle to move much higher in the near term especially if incoming economic data starts cooperating with policymakers This could prevent
The AUD/USD pair bounced off last Friday’s lows and is climbing but faces a key resistance level at 0.6551, the confluence of the 50 and 200-day moving averages (DMA). Further upside is seen once breached. The next supply zone would be the 100-DMA at 0.6588, ahead of 0.6610. On the other hand, sellers' failure at 0.6560 would sponsor a leg-down
As the gold market is expected to consolidate around its recent record highs, investors are finding value in other areas of the precious metals market as it could be silver’s turn to run, according to some analysts. While relatively calm; however, there are some signs investors are finally paying attention to the market as the gold/silver ratio looks to end the...
AUD/JPY Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. EUR/JPY Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. CAD/JPY Short Minimum entry...
Having said that ceilings are meant to be broken If it happens it would take the USDJPY to the highest Level
XAUUSD While there were some hawkish elements in the guidance such as the upward revision to the long run equilibrium rate traders chose to focus on the near term future and very easy fall soon gold
CAD/JPY Short Minimum entry requirements: • 1H impulse down below most recent low. • If 3 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. NZD/JPY Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
BTCUSD The decision was significantly more offensive than expected since most analysts expected the bank to change its guidance since inflation has remained at an