Gold continues its upward trajectory, achieving its highest monthly close in November and nearing record highs. Federal Reserve Chair Jerome Powell, while acknowledging soft inflation, emphasized that core inflation remains high. As US Treasury bond yields decline, providing a tailwind for Gold, the market anticipates potential Fed rate cuts, with about 135 basis...
The GBPUSD continued its upward momentum, closing the week around 1.27100, a key level for the upcoming week. The Pound's strength is fueled by expectations that the Bank of England will delay rate cuts compared to the Fed and ECB. This sentiment was further supported by a decrease in Treasury yields following Powell's comments about the balanced risks of interest...
GBPCAD has been in a brutal uptrend for the last months. In this support zone I expect GBPCAD to bounce upwards and make a new high to continue the uptrend. Be patient and manage your risk!
The previous week saw the Pound sterling reach 1.2600 zone against the US dollar, reflecting positive reactions to the S&P Global/CIPS data. Even amidst mixed economic signals from the US, including robust Services and Composite PMIs but a contracting Manufacturing PMI, the GBPUSD pair maintained its strength. In the UK, inflation has shown signs of cooling down...
Gold maintains its position around $2,000, buoyed by a weakening US Dollar and mixed US PMI data from Friday. Despite the recovery in US Treasury bond yields, the broadly weaker dollar prevails, driven by dovish bets on the Federal Reserve amid a manufacturing sector downturn. However, the upward momentum of gold faces potential constraints as rising US Treasury...
From the daily timeframe, you can see that eurusd is in an upward channel. I will expect to see the channel last for the next few weeks because there's a possibility that the price will touch a weekly resistance zone for a retracement up above. However, the price moves in trends and made a higher high two weeks ago. Throughout last week, the price has been on a...
Today's focus: EURJPY Pattern – Resistance Test Support – 157.65 - 155.81 Resistance – 158.55 - 159.71 Hi, and thanks for checking out today's update. Today, we are looking at the EURJPY on the daily chart. Since testing lower support, we have seen a solid bounce that has already had one reaction and a new higher high. This sets buyers up with just a few more...
GBP this morning got good data better than forecast better than prior. JPY continues with poor monetary policy. Yesterday we had JPY intervention but this didn't change the overall trend. GBPJPY buys.
Traders, brace yourselves for an intriguing setup on the 1-hour timeframe for GBP/USD that you can't afford to miss: 📌 Technical Analysis Highlights 📌 🔽 Descending Triangle Breakout: The recent price action has delivered a convincing breakout from a descending triangle pattern, laying the foundation for a trend continuation setup. 📈 Moving Average Resistance: To...
In the world of precious metals, gold is facing a delicate balancing act. Recent economic data from the United States has added a layer of complexity to the gold market. The ISM Manufacturing PMI for August surprised many by exceeding expectations, while the U.S. jobless rate edged up to 3.8% while the NFP data slightly surpassed predictions. Wage growth, though...
We've got an enticing EUR/USD setup on the 1-hour timeframe that deserves your attention. Here's the lowdown: 📌 Technical Analysis Highlights 📌 📉 Bearish Breakout: After a period of range-bound trading (or a bearish flag, depending on your perspective), the price has decisively broken below a key support level, which has now flipped into a formidable resistance....
Delving into the intricacies of USDJPY on the 4H TF Take a step back and witness the grand narrative of the chart—an unwavering uptrend punctuated by calculated retracements. Recently, a significant consolidation occurred at the pivotal 145.000 level, a strategic move accompanied by the emergence of a promising bull flag pattern. This pattern speaks volumes,...
Let's debunk some headlines like "The Dollar is Bearish!" and dig into the real chart dynamics. On the weekly chart, a bullish trend is evident, despite a retracement that might seem bearish. Always consider the bigger picture. The recent retracement is a mere blip compared to the overall uptrend. 🔍 Key Levels to Watch 🔍 Zoom out and observe the retest happening...
Exciting times are ahead for the Pound Sterling as it makes a strong recovery during the second half of the previous week, soaring near 1.27800! The market sentiment is on the rise, and the Bank of England (BoE) is signaling a hawkish stance on interest rates, giving the GBPUSD pair even more room to climb higher. The recent interest rate decision saw a 25 basis...
The bullish setup on EUR/USD is gaining momentum as price consolidates within a massive bullish pennant formation over the past three weeks. With the breakout now confirmed, a strong upward impulse is expected to continue the prevailing trend. This presents an optimal entry opportunity to go long on the pair. Traders can set their sights on multiple take profit...
📈 My bias is strongly inclined towards buying GBPUSD. Currently, I'm eagerly anticipating the formation of an Ascending Triangle trading setup. 🔍 There are two possible scenarios to consider: 1️⃣ Waiting for a retest back to the trendline for a prime buying opportunity. 2️⃣ Observing a violation of the red line at 1.2853, followed by a retest, before entering a...
Hey guys, How are you doing? I hope the market is treating you well and the hype is on the verge to explode like it always did in the previous pre-bull run scenarios. In today's insight I just want to remind you that a hidden bullish divergence is on the build up on the 4H time frame which can be considered as one more confluence and validation for the...
after a very strong uptrend price has been pulling back in an downward channel. a break and close above resistance would likely see the trend continue upward.