On Friday, we witnessed a strong growth in the SP500 index, further bolstering its performance, with an increase of 0.94%. The day started with strength, opening 4,334.2 points above the previous session's highs, and quotations strengthened throughout the entire session. In fact, it has been an impressive week for the SP500, with the index rising by over 200...
The USD/JPY cross remains stable near the 151.00 level as the Federal Reserve (Fed) keeps interest rates between 5.25% and 5.5%, as widely expected by the markets. However, the lack of significant changes in the Fed's rate statement leaves investors uncertain about a possible rate hike in December to close out the year. The U.S. Dollar Index (DXY) is on a two-day...
The EUR/USD exchange rate is currently trading at around 1.0600 in the European morning on Thursday. This movement is largely influenced by several key factors. First, there is sustained weakness in the US dollar, following the recent decision by the Federal Reserve to extend its pause in monetary policy changes. Additionally, comments made by the Fed Chair,...
Price Movement: Gold is on an upward trajectory, nearing the $2,000 mark. This is attributed to negative US Jobless Claims data, which is impacting the US Dollar. Additionally, US Treasury bond yields have breached the 4.70% level. Trading Strategy: Traders are adopting a "buy the dips" strategy in gold, as long as it remains above the critical support level at...
The GBP/USD exchange rate is slightly higher above 1.2100 at the beginning of the Monday European session, but traders remain cautious due to ongoing tensions in the Middle East and the upcoming meetings of major central banks. During the Asian session, the exchange rate remains within a narrow range around the 1.2100 level. Traders are awaiting significant...
Gold prices have continued their upward trajectory, reaching nearly $1,990 on Friday, a level not seen in five months. The XAU/USD pair has benefited from the growing interest in safe havens, with investors actively seeking to mitigate their exposure to risk. Furthermore, the decline in U.S. yields has provided additional support to the price of gold. The precious...
In this update on GBP/USD, the currency pair initially dropped to the 1.2100 level due to disappointing economic data from the UK. However, it managed to recover to around 1.2150. Market sentiment remains negative, with investors focused on news related to the conflict between Israel and Hamas. The Relative Strength Index (RSI) indicator on the 4-hour chart has...
The GBP/USD exchange rate found support at 1.2275 after a pullback from weekly highs. Following the release of the FOMC minutes, the US dollar experienced a moderate decline, pushing the GBP/USD pair back towards the 1.2300 level. Attention is now focused on the upcoming release of monthly GDP data in the UK and the Consumer Price Index (CPI) in the US scheduled...
EUR/USD trims its gains for the day, hovering around the key psychological level of 1.0600 during the European session on Wednesday. The pair received some upward support due to a correction in the US Dollar (USD), likely influenced by speculations about a potential pause in the interest rate-hike cycle by the US Federal Reserve (Fed). If the pair decisively...
After spending most of the day in a narrow range above $1,849, gold gained momentum and pushed into the $1,865 area during the American session. The yield of the benchmark US ten-year Treasury bond declined to around 4.6%, allowing XAU/USD to rise further. XAU/USD maintains modest intraday gains, and the daily chart shows that it has recorded a higher high and a...
The price of gold has increased to the $1,830 area, with the yield of the 10-year US Treasury benchmark falling below 4.8% after initially rising to 4.9% in response to the US September jobs report, giving a boost to XAU/USD. The next directional move of the gold price will depend on the outcome of the US NFP report. From a technical perspective, the daily setup...
EUR/USD reached the weekly high at 1.0600 and consolidated around 1.0580, marking a slight weekly increase. Despite positive data on U.S. non-farm payrolls for September, the U.S. dollar surprisingly weakened on Friday. The pair stabilized above the upper limit of the descending regression channel, with an RSI of 60 on the 4-hour chart, indicating a short-term...
The GBP/USD exchange rate is showing a slight decline around 1.2180 during the Asian session on Friday, indicating a retracement from recent gains. However, the US Dollar (USD) is correcting following the decrease in US bond yields, providing upward support for the exchange rate. A key support level is at 1.2100, represented by the 20-period Simple Moving Average...
Gold price is in a slightly bearish phase, staying below $1,820 due to the impact of the yield of the 10-year US Treasury bond, which is above 4.7%. This situation makes it difficult for XAU/USD to undertake a significant recovery. Technical analysis on the daily chart indicates a bearish trend for XAU/USD, with indicators showing an abundance of sell signals in...
During Thursday's Asian session, EUR/USD continued the positive trend initiated in the previous session, hovering around 1.0520. The movement of this pair was influenced by market caution regarding the trajectory of interest rates by the US Federal Reserve (Fed). Despite the Euro experiencing a rebound, it is not out of danger yet, as the correction could continue...
Decline for the US technology stocks index, closing the session sharply lower with a loss of 1.83% from previous values. The start was weak for the index, which began the day at 14,744 points above the previous session's bottom, only to worsen its performance throughout the meeting and end even lower at 14,565.6, the session's lowest level. The technical picture...
Recent analysis shows where I made a full analysis on GCAD and also gave the levels for the bullish continuation.
anticipating gold to push to 1950 after sweeping buy-side liquidity and mitigating an open order at 1950 before we are most likely to see a drop to 1870. some technical indicators also support our call. lets see how CPI delivers tomorrow