The S&P U.S. Global Manufacturing Purchasing Managers' Index (PMI) for December fell below investor expectations on Tuesday, sliding to a four-month low of 47.9 vs. The forecast level is stable at 48.2 from November. Market appetite is distorted by erroneous data and investors are starting to temper expectations for interest rate cuts from the US Federal Reserve...
The pair even broke the 100 simple moving average (red, 4-hours). The next major support lies at 1.2610 or the 200 simple moving average (green, 4-hours). A downside break below the 1.2600 zone could trigger an extended decline. The next major support is 1.2520, below which the pair could decline and test the 1.2450 level. Any further losses could push the pair...
The Dollar Index is rising as expected and could test the 102.50 level while the Euro could fall to 1.0950-1.09. EURJPY looks bearish towards 155/154 while USDJPY has rebounded and could test the 143 level now, contrary to our expectations of a fall to 140-138. USDCNY is rising towards our mentioned target of 7.15/16. The Australian Dollar is heading towards...
Gold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last...
The GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session...
As all investors anticipate for the upcoming Non Farm Payroll on Friday, the Dollar gains its strength on the 2nd day of 2024. Trading at 102.10, the US Dollar experienced a significant increase, indicating a noteworthy uptrend in the index. This upward shift can be attributed to market anticipation for guidance and investors turning to the USD as a safe haven in...
Gold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last...
Hey Traders! Here's an exciting update: We're looking at a promising bearish opportunity, with a target of at least 5283, and potentially even more. The market trend seems firmly bearish, and we've got an engulfing candlestick pattern confirming our entry point. The recent daily rebound off the 50-day moving average indicates that sellers are still active. Plus,...
The dollar rose modestly in today's Asian session, boosted by mild risk-on sentiment. Mixed data emerging from China's manufacturing PMI cast a shadow over market sentiment, contributing to a dismal start in Hong Kong's stock market. The HSI index is grappling with the fallout of its fourth consecutive year of losses as a prolonged period of underperformance...
Gold prices (XAU/USD) have extended their correction but consolidation is likely due to light trading activity. More broadly, precious metals could continue on a positive trajectory as bets in favor of an early Federal Reserve rate cut are firming as labor market conditions ease. and a clear downward trend in core inflation. This reduces the opportunity cost of...
The euro's dance with the US dollar last Thursday painted a curious picture - a spirited attempt to soar, only to stumble in the face of market fatigue, as if gravity suddenly remembered its role in the financial theater. This fatigue is not a solo act; it has accomplices. The Euro's recent appreciation has exceeded its limits, like a rubber band being stretched...
The GBP/USD pair posted modest losses in early Asian trading on Tuesday. The modest recovery in the US Dollar (USD) brings some support to the major pair. At the time of writing, GBP/USD is trading near 1.2725, down 0.04% on the day. After the US Federal Reserve's (Fed) final meeting of the year in December, Fed officials kept interest rates steady for the third...
On the hourly chart of EUR/USD at FXOpen, the pair started fresh gains above the 1.0930 zone. The Euro broke above the 1.0985 resistance area against the US Dollar. The pair even settled above the 1.1020 resistance and the 50 hourly simple moving average. Finally, it tested the 1.1040 resistance level. A high was formed near 1.1044 and the pair is currently...
There were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain,...
Supported by positive market sentiment, GBPUSD rose above 1.2800 on Thursday and settled at the 61.8% Fibonacci retracement level at 1.2740 (from July 14 high of 1.3142). to an October 4 low of 1.2037). The rising 20-day exponential moving average (EMA) is placed at 1.2670, projecting continued upside support for the British pound. The relative strength index...
EUR/USD just hit a high, breaking through the 1.1020 and 1.1101 hurdles to reach 1.1121—a five-month high and up 0.72%. But it's the holiday season and the low trading climate can make things unpredictable. It's likely we will see a temporary spike in rates and then a drop below 1.10 as things return to normal. If you're thinking of selling, keep a close eye on...
There were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain,...
Hi folks today I'm prepared for you Euro analytics. A few days ago price rebounded from the trend line and started to rise to support 2, which coincided with the support zone, but when it reached this level it at once rebounded below the trend line, breaking this line. After this, the Euro in a short time backed up and even soon broke support 2, after which it...