If we look at the 4-hour chart of the Silver commodity asset, we can see that the price movement is moving below the Kumo and the Kumo future is in a Bearish condition. Apart from that, there are 2 Bearish patterns that appear in this commodity asset, namely the Bearish 123 Pattern which is followed […]
Early in the American session, gold (XAUUSD) is trading around 1,991 within an uptrend channel formed since October 24 and above the 21 SMA. It is expected to continue rising in the coming as strong bullish momentum is observed. In case gold consolidates above 1,990, it could reach the psychological level of $2,000. Gold prices […]
Red line -support trend line Yellow line- bearish RSI divergence Black lines- triangle pattern Blue lines – Fibonacci retracement levels Gold price continues to trade sideways around $1,995 price level. Price so far continues to respect the red upward sloping support trend line as price is forming a triangle pattern with a base around $1,990 […]
Technical analysis: Gold has been trading sideways at the price of $1.997 and there is potential for the re-test of the high or breakout of the rising trend-line. In case of the rejection of the support at $1.990, there is the potential for the rally towards $2.010 In case of the breakout of the rising […]
According to the World Bank’s commodities review, geopolitical instability, as usual, has influenced the gold market: demand for safe-haven assets can lead to even higher prices, as any potential escalation in the conflict between Israel and Hamas will create further chaos in the Middle East. On Monday, the International Monetary Fund published a forecast for […]
The price of gold retreated a little in the short term but the bias remains bullish. You already know from yesterday’s analysis that XAU/USD could test and retest the immediate support levels before resuming its growth. After its strong rally, a retreat was natural. Fundamentally, the BOJ left its monetary policy unchanged in the October […]
It seemed like the market needed to calm down and catch its breath, but surprisingly, the euro started to become active again, much like the beginning of the past week. Although the macroeconomic calendar is basically empty, and the fundamental background remains generally unchanged. Of course, one could attribute this to mounting Middle East tension, […]
On the weekly chart of USD/CHF main currency pairs seems there is a price movement which is moving inside the Bearish Pitchfork channel and below the Kumo, also there is the Bearish Y Wave pattern so that USD/CHF has the potential to weaken to the level of 0,8460. Nevertheless, Tenkan Sen which has Golden Cross […]
Weekly Review: The EUR/USD pair hit the weekly pivot point and resistance 1, because of the series of relatively equal highs and equal lows. But, the pair has risen down in order to top at the point of 1.0588. Hence, the major support was already set at the level of 1.0545. Today, the EUR/USD pair […]
Early in the American session, gold (XAU/USD) is trading at about 2,001.11, around the 8/8 Murray, and around the 21 SMA. During the opening of this week’s trading session, gold left a bearish GAP which was completely covered. Since then, we have seen a technical correction. However, the metal is now showing signs of exhaustion. […]
Red line- support trend line Black line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price made a new higher high last week but the RSI continued to form lower highs. The bearish divergence in the 4 hour Gold chart suggests that bulls should be very cautious as a reversal is imminent. So far […]
The price of gold is trading in the red at 1,993 at the time of writing. After Friday’s amazing rally, a retreat is natural. Still, the rate could only test and retest the near-term support levels before jumping higher again. The bias remains bullish, so further growth is natural despite temporary retreats. Fundamentally, XAU/USD extended […]
Technical analysis: Gold has been trading downside this morning and I found that market is re-testing previous resistance level at $1.993. If market can’t reject of the previous swigns highs, it is the sign for the further weakness. In case of the rejection of the area at $1.993, there is the chance for the re-test […]
Gold is ready to test long-term key resistance at 2,075. A break above here will call for a strong rally in gold towards at least 2,400 and more likely, closer to 2,700. If a rapid rally is seen, then the peak of the next rally could be a lot higher. However, for now, we are […]
The U.S. Commerce Department report indicates a rise in core inflation, primarily due to increased housing costs. However, with the anticipated spending cuts in early 2024, most experts expect the Federal Reserve will not raise interest rates, although certain risks remain. Jeffrey Roach, Chief Economist at LPL Financial, asserts that the current data will likely […]
Early in the American session, gold (XAU/USD) is trading around 1,983.75, below the 21 SMA, and within an uptrend channel formed since October 23. According to the H1 chart, gold will be able to maintain bullish momentum provided that it settles above 1,985. In this case, is it likely to resume its bullish cycle. For […]
Red line- short-term expected path Blue lines- Fibonacci retracement levels Black line- bearish RSI divergence Gold price is trading around $1,980. Technically trend remains bullish as price continues making higher highs and higher lows. Gold price has reached again the recent highs around $1,996 and is showing signs of rejection. In the near term Gold […]
Gold may once again be recognized as the world’s reserve currency, as despite the process potentially being slow, growing debt problems worldwide indicate it. In a recent interview, CEO of Monetary Metals and President of the Gold Standard Institute, Keith Weiner, stated that although dollar remains as the world’s reserve currency, gold seems to be […]
Let’s take a look at the technical picture of EUR/USD, USD/JPY 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, 2024 […]
Technical analysis: Gold has been trading sideways at the price of $1.986 and I found that symmetrical triangle pattern is in creation and that there is potential for the breakout mode. In case of the breakout of support at $1.970m, there is the chance for the further drop towards downside objective at $1.950 and $1.940 […]
Symmetrical triangle in creation on the Gold…. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Behind the scenes of Wall Street’s rise: the impact of… April 8, 2024 At the […]
The world of financial investment has entered a challenging era. In recent days, US, European, and Asian stocks have been declining, and the yield on 10-year Treasury bonds has been plummeting. What really caused this instability? The mystery begins with mixed economic and corporate signals that confuse investors. The US economy seems to be thriving, […]
The XAU/USD (Gold/US Dollar) chart currently has bullish momentum, indicating a potential move towards the 1st resistance level at 1992.51. The 1st support at 1962.58 is significant, aligning with an overlap support, making it a strong support level. Additionally, the 2nd support at 1946.96 is also an overlap support, reinforcing the potential support zone. On […]
The price of gold continues to stay higher even if the price action signaled exhausted buyers. It’s located at 1,983 at the time of writing, below today’s high of 1,993. The bias remains bullish, but an upside continuation needs confirmation. Also, despite exhaustion signs, a correction is far from being confirmed. Fundamentally, the ECB maintained […]
Early in the American session, gold (XAU/USD) is trading around 1,978.66, above the 21 SMA, and within an uptrend channel formed since October 20. Gold has formed a double top between the highs of October 20 at 1,997 and on October 26 at 1,994. Trading below the 8/8 Murray, the instrument could fall to the […]
US stock futures opened lower following the release of several corporate reports from major American companies. S&P 500 futures dropped 0.8%, while the tech-heavy NASDAQ plummeted by 1.0%. Meta Platforms Inc., the parent company of Facebook, saw its shares fall by 4% in premarket trading due to poor performance and concerns about the uncertain economic […]
Gold price is trading around $1,986. Short-term trend remains bullish as price is supported and remains above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Price is well above the Kumo (cloud) which is our main criteria. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). The tenkan-sen […]
The Bitcoin bull rally above the $34k level continues despite the gradual formation of a local resistance zone. The bulls continue to push the price of the asset above $34k, leading to the formation of a support zone near the psychological mark of $34k. Over the past two days, buyers managed to consolidate above the […]
Sentiment in the gold market has become more optimistic. Due to increasing geopolitical uncertainty, the demand for safe-haven assets has further increased, and the prices of the precious metal have returned to $2000 per ounce. Traders should pay attention to the support around $1950 per ounce. However, there is a high probability that $2000 may […]
Crypto Industry News: The largest banks on Wall Street – Citi, Morgan Stanley, Goldman Sachs and Bank of America – found themselves in a difficult situation. They have reached their lowest levels since the banking crisis in March. Currently, their rates are even lower than then. Citigroup experienced a decline of 14% since the beginning […]
