The euro-dollar pair continues to demonstrate a bearish sentiment, steadily developing a downward trend. The price has been actively declining for six consecutive weeks, but at the end of August, traders found themselves within the range of the 8-figure mark. Buyers initiated a counterattack towards the 1.0960 level, but this blitzkrieg quickly failed as the […]
Technical analysis: Gold has been trading upside today and I found test of the key resistance zone at the price of $1.927. There is the chance for the downside reaction. In case of the rejection of the resistance at the price of $1.927, I see potential for the further downside movement towards lower reference at […]
Overview: The GBP/USD pair broke resistance which turned to strong support at the level of 1.2377 yesterday. The level of 1.2377 coincides with a golden ratio (23.6% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 55. The RSI is still […]
As expected Gold price moved towards $1,920-25 area. Price is in a neutral trend in the 4 hour chart as price is inside the Kumo (cloud). Price has challenged the lower cloud boundary support at $1,916, but so far there was no break down. Bulls have managed to defend thus far the cloud support. Price […]
On Thursday, US stock futures opened lower amid concerns over slowing global economic growth and anticipated interest rate hikes by the Fed. The ongoing issues in China also weigh on the markets. The S&P 500 futures dropped by 0.2%, while the tech-heavy NASDAQ slipped by 0.3%. The Chinese yuan declined to its lowest in 16 […]
The latest data from the World Gold Council shows that the rise in bond yields continues to put pressure on precious metal markets. Investors are leaving gold-backed exchange-traded funds (ETFs). According to the WGC report, gold ETFs have experienced capital outflows for the third consecutive month, down 46 tons, valued at $209 billion. In 2023, […]
Technical analysis: Gold has been trading downside in the background and the market reached my first objective at $1.914. Anyway, there is the chance for the downside continuation due to the bear flag pattern in creation. Due to the short-term downside trend and bear flag pattern in creation, I see potential for the further drop […]
Early in the European session, gold (XAU/USD) is trading around 1,918.72, below the 200 EMA, and the 21 SMA following a downtrend formed since August 30 when the price reached 1,953. Gold is currently trading near yesterday’s low at 1,915.33, which bottomed out after an upbeat US PMI which unexpectedly rose to 54.5 in August, […]
Gold price is under pressure. Price is now trading around $1,920. According to the Ichimoku cloud indicator in the Daily chart, trend remains bearish as price continues to trade below the Daily Kumo (cloud). In our previous posts we noted the importance of the cloud resistance around $1,952 and we also noted on time the […]
Futures on US stock indices opened in the red, driven by concerns about slowing global economic growth and further interest rate hikes by the Fed S&P 500 futures dipped by 0.2%, while the NASDAQ tumbled by 0.3%. European stock indices also continued to decline due to weak data from Germany and soaring oil prices, reigniting […]
On the market, it’s not enough to know the direction of the asset’s future movement; it’s crucial to choose the right time. Ahead of the release of U.S. employment data for August, investors seriously believed that the worst was behind for gold. According to Commerzbank’s research, bullish positioning in the precious metal increased fourfold compared […]
Potential for the downside movement on the Gold… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, […]
Technical analysis: Gold has been trading downside this morning and I found potential for the further drop towards the next downside reference. Due to the short-term downside trend and breakout of the consolidation area, I see potential for the further drop towards lower reference point. Downside objective is set at the price of $1.914 MACD […]
The US Dollar Index rose to a near six-month high on Tuesday. Currency pairs of the “major” group changed their configuration accordingly. In particular, the EUR/USD pair plummeted to the 1.0717 level, dropping to its lowest point in nearly three months. Moving forward, traders should be cautious about the current price dynamics. Short positions appear […]
Two main forces, higher yields and weak growth outside the U.S., have forced the EUR/USD bulls to capitulate. The main currency pair collapsed to the area of a 3-month low after even more disappointing statistics on European business activity for August were released than the flash estimate had anticipated. It immediately brought to mind European […]
In our analysis yesterday on Gold we warned that price was showing signs of vulnerability and the chances for a pull back towards cloud support had increased. Today price has already made a low around $1,927. Our previous analysis warned that a pull back is expected and justified. Our target was the 4 hour cloud […]
In early August, the World Gold Council reported that central banks’ demand for gold in the first half of the year amounted to 387 tonnes. Despite a slight slowdown in the pace of their gold purchases during this period, central banks have not stopped their actions. They see the value in the precious metal and […]
August marked the third consecutive month of oil price growth. Tightening supply against the backdrop of mixed demand signals allowed the “bulls” to push Brent back to January’s highs. Meanwhile, rumors are circulating in the market about the North Sea grade approaching the psychologically important $100 per barrel mark due to increased demand for black […]
Technical analysis: Gold has been trading in the sideways range at the price of $1.937 but I see potential for the breakout mode to the downside in next period. In case of the downside breakout of the support at $1.934 and hold below, I see further drop towards $1.925 and $1.918.. Stochastic oscillator is showing […]
Today, global stocks are joyfully surging, reflecting the futures index’s rise on the S&P 500 at 0.2-0.3%. This positive sentiment is also spreading to commodity markets, where oil and gold are rising amid weakening dollar flags. It is important to note that the American holiday restrained trading activity ahead of the release of key economic […]
Gold price is trading around $1,939. In Ichimoku cloud terms in the 4 hour chart trend is bullish as price is above the Kumo and is making higher highs and higher lows. In the Daily chart price is challenging the Daily Kumo from below. In the 4 hour chart price is breaking below the tenkan-sen […]
Gold price traded higher last week, rising by more than 1.25%. According to the latest weekly gold survey, more than two-thirds of retail investors expect an increase in precious metal prices this week. Adrian Day Asset Management President Adrian Day’s forecast aligns with investors’ expectations regarding price growth. According to him, economic news in the […]
Let’s take a look at the technical picture of EUR/USD, USD/JPY, GBP/USD and Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on simplified wave analysis of… April 8, […]
Technical analysis: Gold has been trading sideways at the price of $1.943 but I see potential for the further rally due to rejection of the support zone in the background. Due to the rejection of the support in the background and the short-term upside trend, I see potential for the further growth toward upside reference. […]
EUR/USD Higher time frames: Last week marked the closing of the last summer month. Bears could not claim a major part of the market due to the support of the monthly short-term trend. With the end of August, the Ichimoku indicator pattern changed, contributing to the effectiveness of bearish momentum on Friday. Currently, reviving the […]
Blue lines- Fibonacci retracement levels Red lines- bullish channel Gold price made a new higher high today at $1,952 but bulls were not strong enough to hold the gains. In our previous posts we warned that the price zone around $1,950 is very important resistance and that current market conditions justified for Gold price to […]
Upside continuation on the Gold in the play… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, […]
Let’s take a look at the technical picture of EUR/USD, USD/JPY, SP500 and Gold ahead of NFP-Payrolls data release today. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on […]
Technical analysis: Gold has been trading downside in the past 24 hours at the price of $1.939 but I see potential for the completion of the downside correction and further upside movement. Due to the short-term upside trend ad the light pullbacks in the background, I see potential for the further growth towards upside references. […]
Early in the European session, gold is trading around 1,939.04 with a reversal below the 5/8 Murray (1,953), above the 4/8 Murray, and above the 21 SMA, which could act as support. We can see a slight technical correction. However, if gold breaks above 1,941, we could expect the bullish cycle to resume and the […]
