Spot gold gained 0.7% to $2,172.88 per ounce. U.S. gold futures rose 0.5% to $2,176.60.
The dollar index was down 0.1%, making gold cheaper for overseas buyers.
“The situation for gold bulls right now is a win-win, if Fed cuts rates, gold jumps substantially, if they don’t cut rates, there will be concerns on inflation that could push gold higher,” Bob Haberkorn,...
The GBP/USD retreated sharply and then bounced back after the important UK and US economic numbers. It dropped from last week’s high of 1.2892 to a low of 1.2744. It then rebounded to a high of 1.2786 ahead of key UK GDP numbers.
The GBP/USD pair reacted to the mixed economic numbers from the UK. In a report, the Office of National Statistics (ONS) revealed that...
EUR/USD continues its steady decline into midweek after the release of higher-than-expected inflation data from the United States (US) reduced the chances of an early interest-rate cut from the Federal Reserve (Fed).
The pair is trading in the 1.0922 at the time of publication, down from the last major peak in the 1.0981 s on Friday
EUR/AUD Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of value.
• If 2 touch 5 min continuation, reduced risk entry on the break of it.
• If 2 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:
• Tap into area of value.
• 1H...
The Bank of England will be keeping a close eye on the employment release. The BoE meets on March 21 and Governor Bailey has eased up on his pushback against rate cut expectations. If Tuesday’s employment numbers are stronger than expected, it will likely raise the odds of a rate cut later this year.
In the US, Friday’s employment release was a mix. Job growth...
the GBPUSD experienced an upward movement, driven by a wave of dollar selling in response to lower interest rates. However, the pair's momentum encountered resistance at a key technical level—the 200-bar Moving Average (MA) on the 4-hour chart. This same MA had previously halted the pair's advance a week ago, leading to a decline in price. The fact that this...
Gold set a record peak of $2,194.98 for the fourth straight day on Friday after data signaled a cooling U.S. labor market.
“With large speculators having increased net-long exposure at their fastest weekly pace in 3.4 years last Tuesday, gold is clearly in demand and not a market to short for any length of time whilst traders expect Fed cuts,” City Index
COMEX...
risk complex, motivating AUD/USD to put the 0.6601 support to the test at the beginning of the week following Friday’s fresh two-month peaks around 0.6670
In the meantime, the continued decline in US yields across various timeframes appears to have met some contention and moved into a consolidative theme, always on the back of ongoing speculation regarding the...
move higher would probably soon encounter resistance in the region of 147.602 -148.01 where the 100 and 50-day Simple Moving Averages (SMA) are situated.
Given the pair is now in a short-term downtrend, however, it will probably eventually rollover and start falling again, back down to the 146.48 March 8 lows.
If the pair breaks below the 146.48 lows it will...
Gold according to the 4-hour chart, XAU/USD lost momentum but holds on to gains, limiting the risk of a steeper slide. The 20 SMA heads firmly north, far below the current level, momentum, while the longer moving averages remain directionless. XAU/USD hovers around a flat 200 SMA. Technical indicators, in the meantime, eased from near overbought readings,...
Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Chair Jerome Powell’s remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day.
was little changed at $2,157.16 per ounce, as of 0350 GMT, hovering around a record peak of $2,164.09 hit in the previous session
AUD/JPY Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of value.
• If 2 touch 5 min continuation, reduced risk entry on the break of it.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
EUR/USD Long
Minimum entry requirements:
• If 3 touch 1H continuation or 2...
The next AUD/USD news to watch will be the upcoming US initial and continuing jobless claims numbers. Expectations are that initial jobless claims rose to 218/7k last week. These numbers will be followed by the latest existing home sales. Existing home sales are expected to come in at 3.95 million in January.
The other important data will be the flash...
Powell’s remarks, coupled with data released the same day indicating a softening of labour market conditions, resulted in U.S. Treasury yields and dollar sliding, increasing the appeal of gold.
If Friday’s labor market data or next week’s inflation data shows any weakness, $2,300 would be the short term target based on technical levels, but that would be fairly a...
Fed chair Powell will be appearing twice this week, on both Wednesday and Thursday as the head of the US central bank testifies about the Fed’s Semi-Annual Monetary Policy Report to the US government’s House Financial Services Committee. Headlines are expected throughout both days as the Fed chairman answers policymaker
which is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, if the price were to break to the upside the reversal would be confirmed, and the buyers would pile in more aggressively to extend the rally into the highs. The sellers, on the other hand, will likely lean on the resistance to position for a break below
London’s gold price benchmark hit an all-time high of $2150.03 per troy ounce at an afternoon auction on Monday
“This rally in gold was triggered by the softer-than-expected U.S. data and the pullback in real rates... but there has been a general bias to buy dips and a positive underlying investor sentiment towards gold that has also made the market vulnerable to...
AUD/NZD Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of interest.
• If 2 touch 5 min continuation, reduced risk entry on the break of it.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
NZD/USD Short
Minimum entry requirements:
• Tap into area of value.
•...
