Gold declined to 2,285 in the early Asian trading session on Friday after reaching a new record high above 2,300. Based on technical analysis and the current market situation, it can be predicted that there will be a slight downward adjustment in the price of gold in the near future.
The price of gold declined to $2,285 in the Asian trading session on Friday, following its record high above $2,300 in the previous session. This fluctuation reflects market dynamics amidst geopolitical risks in the Middle East and expectations of monetary policy easing from the Federal Reserve, which have fostered optimism for gold price growth. Technical...
🔍Today, we're analyzing Ethereum/BTC in the weekly timeframe, crucial for understanding Ethereum's position relative to Bitcoin, especially amid the DeFi landscape where Ethereum plays a significant role. 💎Towards the end of 2021, ETH/BTC encountered resistance at 0.08511 and has since been undergoing correction. Upon plotting the Fibonacci retracement, we...
Looking at the chart, we can see that the price is currently below the moving averages (SMA). Specifically, the SMA20 line has crossed both the SMA50 and SMA100 lines, and is moving downwards, significantly diverging from both SMA50 and SMA100. This clearly indicates that the market is undergoing a pronounced downward trend. Furthermore, upon examining the...
The GBP/USD pair has set a target to extend its recovery time to the highest level within a week, reaching 1.2660 in Thursday's trading session in London. This is the result of positive growth in the UK economy. Meanwhile, the US Dollar is showing weakness due to the ISM Services PMI data from the United States. The decline in US economic activity has reduced the...
In the European session on Thursday, the USD/JPY pair continued to experience a period of weakness. The subdued outlook from the Bank of Japan (BoJ), with predictions of continued monetary policy easing in the near future, coupled with inflationary risks, are the primary factors contributing to the weakening of the Japanese yen. This suggests that despite...
In the context of the weakening US dollar (USD), the Euro has begun to recover and rise again. The decline of the US dollar has created favorable conditions for the Euro, leading many investors to shift their focus towards the Euro currency. On the 4-hour chart, the Relative Strength Index (RSI) has increased to the 67 level, indicating the strength of the upward...
Gold continues to rise, touching the record high of 2300 USD at the start of the Asian session on Thursday after the ISM Services PMI data came in lower than expected, predicting that the Federal Reserve will undergo a rate cut. Looking at the 4-hour chart, we can see that the RSI indicator is in overbought territory, indicating the possibility of further price...
Gold continued its ascent on Tuesday, pushing XAU/USD to a new high of 2276.90 in the US trading session. However, the US Dollar experienced a slight decline early in the session and lost further ground after Wall Street opened, despite generally optimistic US economic data and relatively uninspiring US economic indicators. As the trading session shifted to Asia,...
🗓Today, we're examining Zilliqa (ZIL), which presents a favorable trading setup in the 4-hour timeframe. 🔍Upon retracing the recent uptrend in the daily timeframe, a Fibonacci corrective analysis shows a rebound from the 0.382 level. However, it failed to breach higher levels, indicating waning buying pressure. Hence, a break below 0.03232 could signal...
📊 Script: VBL 📊 Sector: FMCG 📊 Industry: Food - Processing - Indian Key highlights: 💡⚡ 📈 Script is trading near its resistance level which is 1477. 📈 Script is trading at upper band of BB and giving breakout of it. 📈 MACD and Double Moving Average are giving crossover . 📈 Right now RSI is around 62. 📈 One can go for Swing Trade only above 1477. BUY ONLY...
📊 Script: FINPIPE 📊 Sector: Plastic products 📊 Industry: Plastic products Key highlights: 💡⚡ 📈 Script is trading at upper band of BB and giving breakout of it. 📈 MACD is giving crossover . 📈 Double Moving Averages are on urge of crossover. 📈 Right now RSI is around 60. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 235 🟢 Target 🎯🏆 - 260 ⚠️ Stoploss ☠️🚫 - 222 ⚠️...
The price of Bitcoin remains stable but is facing challenges due to pressure from a strong US Dollar amidst investor uncertainty about whether the US will change interest rates, especially ahead of key labor market data to be released this week. Technical analysis on the 4-hour chart shows that the price of Bitcoin is currently below the moving averages SMA 20,...
The GBP/USD pair has shown signs of recovery and maintained stability near the 1.2580 level at the start of the European trading session on Wednesday. Based on technical analysis, on the 4-hour chart, the Relative Strength Index (RSI) continues to remain below 50, indicating ongoing selling pressure. Furthermore, the pair is currently trading below the simple...
Based on technical analysis, the USD/JPY market is currently in a phase of consolidating its upward trend. Furthermore, the chart indicates that the oscillation range has not reached overbought levels, suggesting potential further upward movement for this currency pair. Specifically, surpassing the resistance level at 152.00 could pave the way for a breakout...
On the 4-hour chart, the EUR/USD pair is maintaining sideways movement around zone 1.0770 - 1.0760. Analysis Simple Moving Averages SMA 20 and SMA 50 indicates a downward trend phase. If the price breaks below the support level of 1.0724, this could lead to a stronger downtrend and may be tested further support levels . However, the possibility of a price...
📊 Script: REDINGTON 📊 Sector: Trading 📊 Industry: Trading Key highlights: 💡⚡ 📈 Script is trading at upper band of BB and giving breakout of it. 📈 MACD is giving crossover . 📈 Double Moving Averages are giving crossover. 📈 Right now RSI is around 64. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 222 🟢 Target 🎯🏆 - 235 ⚠️ Stoploss ☠️🚫 - 217 ⚠️ Important: Always...
Based on technical indicators, the gold market is currently continuing its upward trend. However, the possibility of a decline in the near future cannot be ruled out. For today, it is conceivable that gold may retreat to the support level of 2229, followed by a potential rebound. However, if the price of gold breaks below the support level of 2229, there is a...