The yellow metal continues to stay higher, even though the USD appreciated versus its rivals. As you already know, the US Flash Manufacturing PMI and Flash Services PMI came in better than expected yesterday, but XAU/USD remains under upside pressure as the Eurozone and UK manufacturing and services sectors confirmed contraction again. Technically, the price […]
Early in the American session, Gold (XAU/USD) is trading around 1,975.78, above the 21 SMA within a downtrend channel formed since October 20. According to the H1 chart, we can see that gold has strong bullish potential but is facing strong resistance. A break and consolidation above 1,978 could accelerate the bullish movement and the […]
Gold price is trading around $1,975. Today we use the Ichimoku cloud indicator in the 4 hour chart to identify key support and trend change levels. According to the Ichimoku cloud indicator, despite the recent pull back and stop in advance, trend remains bullish as price is still above the Kumo (cloud). The Chikou span […]
It is evident that within the 9% rally in gold over two weeks, starting from the Hamas terrorist attack on Israel, there is a geopolitical risk premium. The incredible part is that the precious metal has severed its connection with the real yield of U.S. Treasury bonds, which has been stable since 2008. Furthermore, it […]
Technical analysis: Gold has been trading sideways at the price of $1.937 but I see potential for the bullish continuation in the case of the breakout of the resistance. Due to the strong underlying upside trend and potential for the bull flag pattern in creation, I see potential for the further growth in case of […]
When the US dollar sharply fell on Monday, without any apparent reason, there were suspicions that it was due to some speculation. Unfortunately, yesterday’s events seem to confirm this. The dollar has sharply strengthened. Even though there was a formal reason for this in the form of good flash PMIs, in reality, all of this […]
The XAU/USD (Gold/US Dollar) chart currently shows a bearish momentum, indicating the potential for a bearish continuation towards the 1st support level at 1947.23. This support level aligns with an overlap support, suggesting it could serve as a substantial area of price support. Additionally, the presence of a 2nd support at 1932.26, identified as a […]
There’s positive movement in the stock market: the Dow, S&P, and Nasdaq indices are confidently moving upward, showing increases of 0.62%, 0.73%, and 0.93%, respectively. Trading Tuesday on Wall Street ended on a high note. Corporate revenues that surpassed forecasts and positive expectations filled investors with optimism, sparking a widespread interest in stocks. The three […]
Early in the American session, gold is trading around 1,964.94, below the 21 SMA, and above the 200 EMA. Since October 19, gold has been moving within a bearish trend channel. We have seen that in the last few hours, gold fell sharply towards the support zone of 1953. This fall in gold towards the […]
Blue lines- Fibonacci retracement levels Black line- bearish RSI divergence Gold price is trading around $1,964. Gold made a new lower low earlier today around $1,953 where we find the 23.6% Fibonacci retracement of the entire upward move from $1,809. Short-term trend remains bullish despite the recent pull back. This can just be a pause […]
Technical analysis: Gold has been trading sideways at the price of $1.974 and I found that symmetrical triangle pattern is in creation and there is potential for the breakout mode. In case of the upside breakout of the resistance at $1.980, there is the chance for the upside movement towards objective at $1.995 In case […]
EUR/USD Yesterday’s wait-and-see approach yielded a positive result – late in the evening, the euro broke above the Fibonacci golden ratio and the resistance range at 1.0613/1.0640, signaling its intention to continue the medium-term uptrend. To solidify this intention, the price needs to break above the MACD indicator line around the 1.0714 mark. A significant […]
Last week, Federal Reserve Chair Jerome Powell spoke at the Economic Club of New York, with the key theme of his speech being that the FOMC is “proceeding carefully”. The markets inferred from his speech that the expected rate hike in November likely won’t happen and, there’s a good chance that it may not happen […]
Blue lines – Bullish channel Black line- bearish RSI divergence Gold price is trading around $1,976 today, slightly lower from Friday’s close. Price remains in a short-term bullish trend as price continues making higher highs and higher lows inside the blue upward sloping channel. In the 4 hour chart we observe the RSI has provided […]
Bitcoin is starting the second trading week on a bullish note, testing the $31k level. The previous week was also favorable for the cryptocurrency, with the exception of some consolidation on Tuesday and Wednesday. During that time, macroeconomic factors and relative geopolitical stability positively influenced the cryptocurrency’s upward movement. Given the continued positive momentum over […]
Gold rose in price amid the ongoing conflict in the Middle East. The latest weekly gold review indicated the very optimistic view of retail investors, contrary to that of market analysts who expect a pullback after a sharp two-week surge. Ole Hansen, Head of Commodity Strategy at Saxo Bank, said prices will likely consolidate this […]
EUR/USD Analysis: In the short-term perspective, the price movement of the euro in the main pair is defined by the descending wave algorithm from September 26. The wave’s potential does not go beyond the correction of the previous bullish trend. Over the past month, the quotes of the pair have formed a complex corrective structure, […]
Technical analysis: Gold has been trading upside this morning and I found rejection of the support zone at $1.961 and there is the chance for the higher prices. As long as the support zone around $1.957 can hold, higher prices might be in the play and the test of $1.997. The short-term trend is still […]
EUR/USD Higher Timeframes The pair retained its position within the weekly cloud last week, so the top priority task for the bulls has stayed the same. They need to eliminate the death cross of the daily Ichimoku cloud (1.0627) while entering the bullish zone relative to the weekly cloud (1.0610). After this, they will have […]
Red lines- bearish channel Black lines- expected price path Gold price is trading around $1,982 continuing its impressive bull run for a second week as price has managed to gain more than $150 in two weeks. As we mentioned in our previous post Gold price has also broken above the red downward sloping channel it […]
Federal Reserve Chairman Jerome Powell’s speech on Thursday was interpreted by investors as cautious, leaning toward maintaining the monetary policy unchanged. Although Powell did not rule out the possibility of further interest rate hikes, he did emphasize that this is only in the presence of clear evidence of increasing inflationary pressures. The dollar maintains an […]
Technical analysis: Gold has been trading upside and I found that market is testing important resistance pivot at $1.982 and I see exhaustion of the buyers. Due to the extreme bullish condition and bearish divergences on the RSI oscillator, there is potential for the pullback towards lower reference. Downside objective is set at the price […]
A viral message on social media claiming that the Securities and Exchange Commission (SEC) had approved BlackRock’s application to create an ETF with Bitcoin as the underlying asset stirred up the cryptocurrency market. BTC/USD quotes immediately surged by 10%, triggering the closure of short positions worth $95 billion. The information turned out to be false, […]
Early in the European session, gold is trading around 1,977.41, above the 21 SMA, and below the 8/8 Murray. Gold reached a new high around 1,982.12 and is showing indecision which is likely to trigger a strong technical correction in the coming hours. Since October 4, gold has been trading within an uptrend channel and […]
Early in the American session, gold (XAU/USD) is trading around 1,955.45 with a very clear uptrend, facing strong resistance around 1,957. Yesterday, the price of gold fell from the high of 1,962 to 6/8 Murray around 1,937. From that level, it has been bouncing and is now showing signs of exhaustion. The short-term outlook for […]
Gold price is trading above $1,950. According to the Ichimoku cloud indicator trend in the Daily chart is bullish as price has broken above the Daily Kumo (cloud) resistance. The tenkan-sen (Red line indicator) has crossed above the kijun-sen (yellow line indicator). This is another sign of strength. The Chikou span (black line indicator) is […]
Recent news from the Middle East shocked global markets, causing a significant drop in stock markets around the world. However, it did not trigger a rise in dollar, but instead boosted demand for gold. The death of many Palestinian refugees from a bomb hitting a hospital in the Gaza Strip led to heightened expectations of […]
Let’s take a look at the technical picture of USD/JPY, USDX 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 $1.946 and I see potential exhaustion to the upside and potential for the downside correction. Due to the extension to the upside and testing top of the upside channel, I see potential for the downside rotation towards lower reference. Downside objective is set at […]
After a few days ago, Nasdaq 100 index hold on to the level area of Bearish Fair Value Gap and failed to break above that level area which act fair enough as level area Resistance, currently #NDX has the potential to weaken again up to the level area 14428,6 – 14254,6 where it is confirmed […]
