OANDA:XAUUSD stabilized after hitting a more than two-week low as concerns about escalating tensions in the Middle East subsided, while investors await key economic data to further clarify the timing of US interest rate cuts. America. Israel stepped up its attacks on the Gaza Strip, its worst shelling in weeks, but fears of a wider conflict eased after Iran...
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Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034...
During the Asian session on Monday (April 22), spot gold had a gap and opened lower, falling to a low of $2,370/ounce as of press time. Gold is mainly under pressure because tensions around Israel and Iran appear to have cooled, which has eased risk aversion, thus putting pressure on gold prices. On April 19 local time, Israeli Army Radio said Israeli security...
OANDA:XAUUSD have fallen sharply from recent highs due to the impact of reduced geopolitical risks and a stronger US Dollar. Federal Reserve officials, including Chairman Powell, have maintained a hawkish stance on interest rates, which has weighed on gold prices. Sentiment has changed as expectations for a Fed rate cut were revised to a potentially longer than...
futures have reclaimed some ground at the end of the trading week. i feel good about leaning buy towards the start of next week, as long as were holding a decent level according to this market structure/value area and volume range. this ai strategy shows that the price is supportive of extending its gains if we hold this momentum to the upside.
💹 Let's dive into analyzing this cryptocurrency coin for trading in lower time frames. 💰 In the weekly timeframe, we're still within a weekly box, and we've faced heavy rejection from the box's ceiling and weekly resistance. We're seeing red candles, and one of the reasons for this event is the correction in Bitcoin and the short-term conflict between Iran and...
POUND STERLING ANALYSIS - Sterling in focus ahead of lower anticipated UK inflation – BoE up Next - OANDA:GBPUSD falls back into prior trading range as USD maintains bid STERLING IN FOCUS AHEAD OF LOWER ANTICIPATED UK INFLATION – BOE UP NEXT UK inflation, expected to drop before the Bank of England's monetary policy update, is crucial for achieving the...
GBPUSD mounted a moderate comeback on Wednesday, bouncing off support in the 1.2430 region. If the pair extends its rebound in the coming trading days, resistance awaits at 1.2525, followed by 1.2575 near the 200-day simple moving average. On continued strength, the next key level to watch is 1.2645. Alternatively, if sellers return and trigger a market selloff,...
GBPUSD sold off this week, slipping below a technical floor at 1.2430 and hitting its lowest point since November. With bearish momentum prevailing, there's potential for accelerated losses in the short term, possibly prompting a revisit of 1.2320 – a major Fibonacci support level. Prices may bottom out in this area before reversing higher; but in the case of a...
OANDA:GBPUSD ANALYSIS AND CHARTS - GBPUSD edged back into the green Tuesday - The UK’s March PMI saw upward revision, signaling the first growth in twenty months The British Pound slightly rebounded against the US Dollar on Monday due to unexpected strength in domestic manufacturing. However, the Pound remains below last week's trading range against the...
Trading Plan for Friday, April 26th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control but facing the after-hours earnings event, which could bring sudden volatility. Key Supports Immediate Supports: 5067, 5058 (major), 5048 Major Supports: 5036-33 (major), 5010 (major), 4996-5000 (major), 4935-40 (major), 4904-08 (major) Key...
Last Week : Last week Globex opened and pushed out of Value of 5227 - 5066 Range, by RTH Open we were able to make a push over 5207.50 the Edge low but we needed acceptance over 5207 - 04 area and instead selling came in which took us through the Mean and right through VAL of that Range without any buyers being at VAL, instead we got covering and buying under...
OANDA:EURUSD NEWS AND ANALYSIS - ECB officials eye June meeting for first rate cut, SNB delivers a surprise cut - Dollar drop appears short-lived as EUR/USD heeds resistance ECB OFFICIALS EYE JUNE MEETING FOR FIRST RATE CUT, SNB DELIVERS A SURPRISE CUT Despite the EU and US having different growth prospects, the ECB remains cautious about cutting rates....
After enduring notable losses last week, EURUSD steadied and mounted a modest comeback over the past few days, rebounding off the psychological 1.0600 level and pushing past the 1.0650 mark. If the pair continues to recover in the coming days, resistance is expected at 1.0695 and 1.0725 thereafter. On further strength, all eyes will be on 1.0820. Conversely,...
After steep losses in recent days, EURUSD stabilized and rebounded off the psychological 1.0600 level on Wednesday, pushing past the 1.0650 mark. If the pair manages to build upon its recovery in the days ahead, resistance lies at 1.0695, followed by 1.0725. On further strength, the focus will be on 1.0820. On the other hand, if sellers return and regain control...
OANDA:EURUSD FORECAST - TECHNICAL ANALYSIS EUR/USD jumped on Wednesday, with bulls seemingly determined to challenge trendline resistance at 1.0950 after the FOMC announcement. In the event of a retest, sellers will need to fend off the advance; otherwise, there will be minimal obstacles to a rally towards 1.0970, a key Fibonacci level. Alternatively, if upside...
The Bank of Japan (BoJ) increased its policy interest rate to 0.00-0.10% in March, bringing interest rates out of negative territory. Although the yen was expected to increase, the market witnessed a decline in the yen, causing the OANDA:USDJPY exchange rate to increase. Although the Bank of Japan gave limited guidance on further policy tightening, markets...