EUR/USD is testing its strong trendline support zone. Fundamentally EUR/USD has the most possibility to drop below its trendline support. After breaking below 1.0800 will confirm the trendline support zone breakout. But as long as EUR/USD is above the trendline support zone, it still has chances to go upside technically. But different fundamental factors say,...
USD/JPY has been rising since January 2021. It becomes unstoppable. As all beginnings have an end, no matter how high USD/JPY rises, it will wear out very soon. But firstly, we have to understand why it is rising. Why is the Japanese Yen weak against all currencies despite being a safe-haven asset. The Bank of Japan itself acts as the mastermind behind the...
The gold price fell from an all-time high to about 1,100 pips last week. Though last week's start was good, the gold dropped nearly 1100 pips in the last three days of the last week. This is why gold prices had dropped. First, there was some news at the meeting between Ukraine and Russia. As long as both sides agreed to make some concessions, they could work...
There will be two major news will be released in the market today, both of which will have a significant impact on the price of gold. During the first half of the American session, the Retail Sales Report will be released, and the FOMC will release its report after its conclusion during the second half of the American session. The Federal Reserve will raise...
Gold has been falling in the last eight days. The Gold price has closed below the trend line support, and it is dropping from near the Gold All-Time Swing High Rate from the previous week. Since the gold price has closed below the trend line support, there is no doubt that it has technically gone into bearish mode. Though it is not the right time to say that the...
Despite strong US bond markets, gold has strengthened somewhat over the past few days. Although the reality is that gold is not supposed to rise if the bond rate increases, then gold is in a very favorable position. Again, 10-year bonds are technically close to resistance levels. In other words, there is a chance that the uptrend of bonds will come to a...
There is no economic report till the US season today for gold. Gold might be downtrend before the US season as it breaks below the trendline support, and 100 and 50 SMA creates a death cross. Gold price is hovering near to its 200 SMA. If gold price breaks below 200 SMA and stabilizes below $1907, it may test again below $1895/1890. On the other hand, at...
I have been repeating many times that EUR will drop more since the Russia-Ukraine war started. Fundamentally, EUR is under pressure as Russian invaders on Ukraine create threats for Europe. Sanctions against Russia spiked the Oil and gas prices in Europe. So, it is easily understandable that the inflation in Europe will cross over their estimate. Moreover,...
Fundamentally EUR is under pressure because of the Russia-Ukraine war. But JPY is also weak a lot. As a result EUR/JPY has advanced nearly 650 pips from its recent swing lows. There is no credit for EUR in such up. Just because the JPY is too weak. "The longer the war continues, the more likely it becomes that the real economic and inflationary effects for the...
Swing High: 20270/2075 Trend changing zone: 1950/1960 Upside target: 2050/2075 Downside Target: 1850/1875 As long as gold prices are within this range, gold will still be in a fish pattern.
Gold started this week with an upside gap like the last week and tested above the $2002 price zone. Last week's high was $1970, and the gold price is stabilizing above the $1970. So from the present rate, $1970 will work as minor and near-term support. So, in the short-term picture, if gold is correct, nearly $1970/1980 zone may be a buying opportunity, and...
USD/JPY breaks below the trendline support that created a short opportunity. In the H1 chart USD/JPY breaks below the trendline support. And next support is identified at 115.26 which we can keep our first target and second target 114.80 Sell Zone: 115.75 Stop Loss: 116.00 Target Zone 1: 115.30 Target Zone 2: 114.80
Why is gold dropping hard? There are only two reasons that are playing behind the gold's drop. 1. Ukraine's president says they are no longer to join NATO. 2. Profit-taking purposes. Both two matters are playing behind the gold's drop and happening at the same time. Because if Zelonasky doesn't join NATO, Russia may stop the war. No war favorable market...
Ukraine will be occupied by Russia or they will come in negotiation with Russia. Ukrainian already understands NATO can't help them directly except by providing arms, money, and aid. But they are not enough to fight back with Russia. Now we need a deeper study and close monitor, how only sanctions will impact the Gold and Oil prices. From my experience, I...
It seems a bit unethical that BTC is falling during the Russia-Ukraine war. Cryptocurrencies history says it might be supported during crises like USD because there is a similar movement we found before like USD. But this time, the BTC isn't getting benefits like USD. But very soon, we may see a big buy as Russia to Regulate Crypto, Dispelling Fears of Ban. The...
After breaking below the trendline support, what bit confirmed that the GBP/USD will test its significant support level, and it happens. Now the question is will GBP/USD bounce from the strong support level? We have seen gold and oil didn't respect any substantial resistance. EUR/USD is falling apart and not the following support as well. So, can GBP/USD...
EUR/USD is testing its strongest trendline support, which started in December 2016. EUR/USD has been falling since May 2021 at a stance by creating a lower low pattern. Technically, EUR/USD is in a heavy downtrend and reached its swing zone. CAN EUR?USD bounce from its swing zone and strongest support level now? Fundamentally it is not possible now except...
USD/JPY has formed a bearish pin bar candle from its resistance trendline zone, indicating the USD?JPY may drop. Several times USD/JPY tried to break below the trendline support, it couldn't. JPY is a safe-haven currency. Usually, it was supposed to be a strong JPY. However, that didn't happen during Covid and Russia-Ukraine issues. It was not supposed to be...