OANDA:XAUUSD MARKET ANALYSIS AND COMMENTARY - WEEK 17 - 2024 ECONOMIC COMMENTARY This week, international gold prices continued to increase beyond the threshold of 2,400 USD/oz to 2,417 USD/oz, but then gradually decreased and closed at 2,390 USD/oz. Gold prices rose again to exceed 2,400 USD/oz on April 19 due to an attack believed to be by Israel...
CRYPTOCAP:BTC Update April 8 W week's candlestick chart closes the pinbar candle, withdraws its whiskers, and scans the liquidity of last week's candlestick, showing that the buying force at the 64k area was well supported by buyers and is likely to push the price further. The chart of the D day frame has closed the candle above the IFVG zone, showing...
International gold price OANDA:XAUUSD price on Kitco closed the week at 2,329 USD/ounce. Gold futures price for delivery in June 2024 on the Comex New York floor is trading at 2,349 USD/ounce. The world OANDA:XAUUSD market ended the week with strong price increases. The precious metal is up nearly 5% compared to last Friday. After rising to 2,220...
💰 CRYPTOCAP:BTC Update April 1 ✔️The monthly candlestick chart of M has officially closed the candle above the 69k3 area, confirming CHOCH's long-term growth, so the long-term trend will still be BUY when there is a correction! ✔️The W weekly candlestick chart, after filling the FVG area, has created a fairly large POI area. We can watch here and wait for...
ANALYSIS OF IMPORTANT ECONOMIC HIGHLIGHTS OANDA:XAUUSD Gold Price OANDA:XAUUSD climbs to all-time highs of nearly $2,250 per troy ounce during the early Asian session on Monday. The yellow metal attracts some buyers amid the expectations of a Federal Reserve (Fed) pivot in the second half of 2024, the ongoing geopolitical tensions in the Middle East,...
Technical analysis OANDA:XAUUSD Gold price is duplicating the move seen in Wednesday’s Asian trading, as it edges lower below $2,200 early Wednesday. Gold capitalizes on sustained US Dollar strength and a rebounding US Treasury bond yields struggle, as traders take account of the latest hawkish US Fed commentary. The short-term technical outlook for Gold...
🌐 PLAN FOR THE WEEK OF March 25 - March 29 Price zones to note this week: Resistance: 2182 - 2195 - 2200 - 2223 Support : 2152 - 2145 - 2125 - 2100 - 2077 If the gold price escapes the $2145 price range, a price decline will begin, and Gold's conquered targets will be directed towards the support areas mentioned above. On the other hand, if the gold...
OANDA:EURUSD Economic analysis Following Wednesday's upsurge, OANDA:EURUSD turned south on Thursday and closed the day deep in negative territory. The pair stays on the back foot early Friday and trades within a touching distance of 1.0800. The renewed US Dollar (USD) strength forced OANDA:EURUSD to make a sharp U-turn on Thursday. The S&P Global...
GBPUSD: Economic analysis OANDA:GBPUSD is trading in a range above 1.2700, consolidating recent losses in early Europe on Monday. The US Dollar holds the upside, keeping the pair on the back foot, despite a risk-on market environment. All eyes remain on this week's Fed decision. GBPUSD: Technical analysis The Relative Strength Index (RSI)...
GOLD MARKET ANALYSIS AND COMMENTARY - WEEK 11 - 2024 (March 11 - March 15] ECONOMIC ANALYSIS This week, international gold prices have continuously increased sharply, from 2,079 USD/oz to 2,195 USD/oz and closing at 2,178 USD/oz. The reason why gold prices increased sharply is partly because the US economy created 275,000 jobs in February 2024, higher than...
OANDA:XAUUSD gathered bullish momentum in the second half of the day on Friday and reached its highest level since early January above 2,070$. The benchmark 10-year US Treasury bond yield is down 1% at 4.2%, fueling OANDA:XAUUSD rally ahead of the weekend. From a technical perspective, the overnight breakout through the $2,040-2,042 horizontal...
OANDA:GBPUSD is holding lower ground below 1.2650 in European trading on Wednesday. The US Dollar is building its recovery gains amid a cautious mood, ignoring negative US Treasury bond yields. Key US data, BoE and Fed speak awaited for fresh trading impetus. OANDA:GBPUSD continues to churn at the intraday level, cycling 1.2650 trapped between technical...
OANDA:EURUSD is keeping its range above 1.0800 in the European session on Friday. The pair fails to find any inspiration from the upbeat German IFO survey and rising Eurozone inflation expectations, as the US Dollar finds fresh demand, as sentiment turns sour. Fedspeak awaited. OANDA:EURUSD retreated below the 200-period Simple Moving Average (SMA),...
The Japanese yen has continued to fall this week, hitting new lows against the euro, pound and other currencies, as investors look for better returns outside Japan. The yen is currently the worst-performing G10 currency of the year, having fallen 6.4% against the dollar, in contrast to being the best-performing currency. Against the euro, the yen fell 0.6% this...
OANDA:GBPJPY rotated on Wednesday, marking in a slight new high for the week as the Pound Sterling (GBP) gets a leg up from a broad-market pullback in the Japanese Yen (JPY). Bank of England (BoE) policymaker Swati Dhingra noted on Wednesday that the outlook for UK inflation remains bumpy, but downwards, noting that UK consumption still remains below...
OANDA:XAUUSD bounces off the weekly low of 2,013$ to 2,030$ during the early Asian session on Friday. Nonetheless, the upside of the yellow metal might be limited due to the possibility that the Fed may not begin cutting interest rates as early as expected, which might exert some selling pressure on OANDA:XAUUSD prices. In the near term, and according to the...
OANDA:EURJPY cross extends its downside near 156.60 during the early European session on Thursday. That being said, the upward revision of economic growth estimates by the Japanese government lifts the Japanese Yen (JPY) and creates a headwind for the OANDA:EURJPY cross. From the technical perspective, OANDA:EURJPY keeps the bearish potential intact as...
OANDA:USDJPY yesterday also did not really change too much, with a slight decrease in sideways. However, the downtrend of the H4 chart is showing a quite positive signal, the price continues to move below the Trend. +Currently expect the price to increase slightly near the trend zone then continue to decrease at the resistance levels at 146.5-146.7 Wish you...