bluepipsofforex

bluepipsofforex

The market action remained subdued on Tuesday as trading conditions started slowly to normalize following the long weekend. As the US Dollar (USD) staged a technical rebound following the dismal performance seen in the last couple of weeks of 2023, XAU/USD closed the day in negative territory. On Wednesday, the US ISM Manufacturing PMI improved to 47.4 in December...

bluepipsofforex

TVC:DXY Indicates a possible reversal of the current downtrend into a new uptrend. The head and shoulder is popular pattern with investors The initial sell-off into the pattern can be steep or gradual. The first shoulder is formed where the price troughs and rallies back to a level of resistance – the neckline. Once the shares reach the neckline, they then...

bluepipsofforex

Gold price aims to extend recovery above $1,970.00 as a substantial decline in the US consumer inflation in October indicates that the Federal Reserve will likely not raise interest rates further. The US inflation data for October, released on Tuesday, indicated that headline inflation decelerated significantly. The annual headline CPI rose by 3.2%, softened from...

bluepipsofforex

In a significant market shift, gold prices have witnessed a notable downturn as tensions in the Middle East showed signs of abating. Israel's decision to implement a ceasefire for humanitarian purposes, coupled with global leaders' concerted efforts to mediate the conflict, has provided a semblance of stability. Contrastingly, oil prices have found support above...

bluepipsofforex

Gold remains at the back foot for the third consecutive day, following another failure to sustain gains above psychological $2000 level. Yellow metal ‘s price hit new multi-month high at $2009 last Friday, but subsequent return below $2000 points to persisting headwinds at this zone. Gold rallied strongly in October (up 7.3%) driven by strong safe-haven demand...

bluepipsofforex

COINBASE:ETHUSD U.Today - continue in preparation for the Deneb-Cancun upgrade and are teasing the launch of Devnet #10, which will most likely be the final devnet before the upgrade is released on public ETH testnets like Goerli. As stated in the most recent Ethereum ACDE , Barnabas Busa, a DevOps engineer for Ethereum Foundation, hints at waiting on client...

bluepipsofforex

COINBASE:BTCUSD COINBASE:BTCUSD n that time, Bitcoin has soared by 147%. The premier coin dwarfed its closest competitor, the S&P 500, which tracks the performance of 500 stocks trading on U.S. stock exchanges. Since August to date, the S&P 500 has managed 26% growth. The tech stock-heavy Nasdaq Composite comes next in line, boasting of 18% growth since August...

bluepipsofforex

September Retail Sales data will be featured in the US economic docket on Tuesday. Investors expect an increase of 0.3% on month following the 0.6% growth recorded in August. Since this data is not adjusted for price changes, it is likely to be ignored by market participants. In the Asian session on Wednesday, third-quarter Gross Domestic Product data from China...

bluepipsofforex

OANDA:XAUUSD Gold price aims to climb above $1,860.00, supported by an improvement in safe-haven appeal due to Middle East tensions and neutral commentary from Federal Reserve policymakers. Deepening Middle East tensions have improved the appeal for safe-haven assets as higher oil prices could elevate inflation risks. The risk-aversion theme is not too strong as...

bluepipsofforex

Gold price (XAU/USD) remains directionless, trading at around $1,820, as investors keenly await the United States Nonfarm Payrolls (NFP) data for September. The employment report will set an undertone for the Federal Reserve’s (Fed) upcoming monetary policy decision in November. US labor market conditions are seen softening further considering weak cues from the...

bluepipsofforex

The Euro recovered from its lowest level in almost a year against the US Dollar but is struggling to hold above 1.0500. Despite the rebound, it remains under pressure, with the trend favoring the Dollar. The sell-off in government bonds is making investors nervous. The German 10-year yield rose to 3% for the first time since 2011, while the US Treasury yield...

bluepipsofforex

Buoyant US data put pressure on Gold. Strategists at Commerzbank analyze the yellow metal’s outlook Weaker-than-expected NFP could trigger a noticeable countermovement With a significantly higher-than-expected ISM manufacturing index and a surprisingly pronounced rise in job vacancies – there appears to be no end to the series of positive US economic data. Gold...

bluepipsofforex

Gold bearish sequence more downside Wave ((iii)) lower is in progress as a 5 waves impulse in lesser degree. Down from wave ((ii)), wave (i) ended at 1913 and rally in wave (ii) ended at 1929.12. Wave (iii) lower ended at 1857.40 and rally in wave (iv) ended at 1879.81. Expect wave (v) to end soon which should complete wave ((iii)). Afterwards, expect rally in...

bluepipsofforex

The US dollar index (DXY) has been volatile in recent months, but now showing signs of momentum. This is due to a number of factors, including high inflation, rissing interest rates, and safe-heaven demand. Under the current macroecnomic conditions, the outlook for the DXY suggests that it will remain supported against losses. Intermarkets are mirroring the...

bluepipsofforex

OANDA:GBPUSD yielded a close below the critical 200-day Simple Moving Average (SMA) at 1.2433 on Thursday, paving the way for further downside. The 14-day Relative Strength Index (RSI) is sitting just above the oversold territory, suggesting that there is more room for Pound Strerling sellers. If they managed to find a strong foothold below the 200-day SMA at...

bluepipsofforex

Gold price technical outlook: The short-term outlook for Gold remains unclear. While the rebound on Friday alleviated some bearish pressure, Gold is still below the 20-week Simple Moving Average (SMA), although it has managed to stay above $1,900. If the recovery continues, XAU/USD could potentially extend towards the $1,950 area, which presents a strong barrrier....

bluepipsofforex

OANDA:XAUUSD Gold fails to pierce descending trendline. Encounters strong support at 200-dayu SMA. Is bullion headed for a re-test of the crucial barrier? Gold experienced some losses after its advance got rejected at tyhe downward slopping line that connects its recent lower highs. However, the 200-day simple moving average (SMA) capped the pair's decline, with...

bluepipsofforex

Gold price extended its five-day losing streak and hit fresh one-week lows at $1,915, having tested the confluence support of the 21- and 200-day Moving Average (DMA) at $1,916. Gold buyers currently defending the latter despite a bearish 14-day Relative Strength Index (RSI). The leading indicator suggests that the downside-potential remains intact in Gold...