Gold extended its downward momentum at the start of Tuesday's Asian trading session, dropping to 2,300, down more than 2% from Monday. The decline seemed somewhat contained due to speculation that major central banks would cut interest rates later this year. From a technical standpoint, this sharp decline has brought gold prices to touch the simple moving...
EUR/USD remains near the low of around 1.0650 in the European trading session on Tuesday. The modest recovery of the US Dollar (USD) has driven EUR/USD to continue its downward trend. According to the analysis from the 4-hour chart, the downtrend of the EUR/USD currency pair seems to show signs of notable recovery. Anticipated that there will be a testing phase...
The USD/JPY market is experiencing a notable period of growth, reaching its highest level in decades, driven by significant appreciation of the US Dollar. This increase is attributed to the economic hegemony of the United States, where the USD is regarded as one of the most stable and widely used currencies globally. Additionally, the large-scale selling of US...
In Tuesday's trading session in Europe, the EUR/USD currency pair gained traction and surged to nearly 1.0700. Volatility erupted following the release of the PMI HCOB for the Eurozone, followed by S&P's global PMI for the US during the US trading session. Looking at the chart, signs of a downward trend remain evident, although prices are undergoing a corrective...
Gold continues to face downward pressure, dropping below the $2,300 mark near the end of the US trading session on Tuesday. Expectations regarding the Federal Reserve's monetary policy still support the increase in US Treasury bond yields, thereby keeping the US Dollar (USD) at its recent high level. From a technical perspective on the 4-hour chart, we can...
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The GBP/USD pair is showing signs of upward movement as weaker-than-expected PMI data in the US has caused the US Dollar to depreciate, thus supporting an increase in the value of the British Pound. The improvement in the global financial situation has also weakened the US Dollar against other currency pairs. From a technical perspective, on the 1-hour chart, we...
The gold market (XAU/USD) is facing strong selling pressure for the second consecutive day, dropping to near its lowest level in over two weeks, hovering around the $2,300 mark before entering the European trading session. Despite overnight attacks on US forces in the Middle East, investors remain optimistic, believing that the conflict between Iran and Israel...
Yesterday, the gold market experienced significant volatility, with prices falling below $2,400 and continuing to decline below $2,300 during Tuesday's Asian trading session. This decline was triggered by escalating tensions between Israel and Iran. Market participants are betting that the ECB will cut interest rates in June, with three rate cuts expected...
The Japanese Yen is currently receiving support from government intervention, but differing expectations from the Bank of Japan (BoJ) and the Federal Reserve (Fed), along with reduced tensions in the Middle East, have diminished JPY's role as a safe haven asset. From a technical standpoint, indicators continue to signal an upward trend. The Relative Strength...
The price of gold has undergone a significant downward adjustment phase, dropping to around 2,362 USD in the Asian trading session. Negative comments from Federal Reserve officials have dampened the momentum of this precious metal's rise. In the short term, the outlook for gold prices may continue to face challenges, especially as prices continue to rise and...
💷GBPJPY💴 Weekly 04/15/2024 Weekly High: 192.839 Weekly Low: 190.204 Chart Pattern: Rectangle 💎Buy GBPJPY @ 190.5 - 190.3💎 Friday 04/12/2024 10:10 AM EST 189.9 StopLoss —> 190.55 BreakEven+ 💎Sell GBPJPY @ 192.5 - 192.7💎 Wednesday 04/17/2024 09:47 AM EST 193.1 StopLoss —> 192.45 BreakEven+ Richard Eyo ~ The Wizard 🧙♂️
🥇XAUUSD💵 Weekly 04/15/2024 Weekly High: 2417.81 Weekly Low: 2324.22 Chart Pattern: Ascending Channel 💎Buy Gold @ 2345 - 2335💎 Monday 04/15/2024 10:10 AM EST 2315 StopLoss —> 2345.5 BreakEven+ 💎Buy Gold @ 2374 - 2370💎 Tuesday 04/16/2024 03:56 AM EST 2362 StopLoss —> 2374.5 BreakEven+ 💎Buy Gold @ 2370 - 2360💎 Wednesday 04/17/2024 04:52 PM EST 2340 StopLoss —>...
Stay ahead in the gold market with our latest analysis! Gold prices are holding strong around $2385, with potential to breach the $2400 mark amidst escalating tensions in the Middle East. Geopolitical uncertainties drive investors towards gold, making it a safe haven asset of choice. Our in-depth analysis delves into market trends, technical indicators, and...
Gold has experienced a significant drop, pushing prices below the $2,340 threshold in Monday's US trading session. The easing of political tensions has provided clear indications that gold is gearing up for a profound adjustment. Additionally, expectations that the Federal Reserve will postpone interest rate cuts amidst stable inflationary conditions have further...
The price of gold (XAU/USD) continued its steady decline throughout the day, dropping below the $2,340 mark in Monday's US trading session. Reduced political tensions led to a deep adjustment in XAU/USD, while the looming possibility of a bond yield recovery in the United States further weighed on this currency pair. From a technical standpoint, the XAU/USD chart...
EUR/USD continues to face downward pressure as it drops below the 1.0650 level during the European trading session on Monday. The renewed strength of the US Dollar does not allow this currency pair to gain traction, especially as focus shifts to the speech by ECB President Lagarde. Chart analysis indicates that EUR/USD is continuing to approach support levels and...
The EUR/USD is trading sideways around 1.0650 and showing signs of transitioning to an upward trend. This change is supported by the easing tensions between Israel and Iran, which have led to a reduction in geopolitical risks and decreased demand for the US dollar as a safe-haven asset, consequently causing a slight increase in the EUR/USD pair. Looking at the...