XAUUSD, Day | Strong bearish deivergence?

Gold’s chart against the US Dollar is experiencing bearish momentum, reflected by the multi-swing high resistance at 1789.00. The bearish bias suggests a possible drop towards the first support at 1945.00, a multi-swing low support. If the price fails to hold this support, the second support level at 1933.00, an overlap support and 38.20% Fibonacci […]

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AUD/USD. RBA April meeting: preview

The Reserve Bank of Australia will announce the results of its April meeting on Tuesday, April 4. In the run-up to this event, the aussie is noticeably nervous, and not just in the AUD/USD pair. Increased volatility is also observed in all cross pairs involving the Australian dollar. 0 or +25? There is no consensus […]

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Technical analysis on Silver for April 3rd, 2023.

Blue lines- bullish channel Red line- bearish RSI divergence Silver remains in a bullish trend making higher highs and higher lows. So far Silver price has respected all key support levels every time price pulled back. Silver is now trading around $24.07. The recent pull back tested the lower channel boundary it was in but […]

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Technical analysis on Gold for April 3rd, 2023.

Blue lines- bullish channel Red lines- triangle pattern Gold price is trading around $1,976. Price continues to trade inside the triangle pattern respecting the boundaries. Price got rejected on Friday at the upper triangle boundary at $1,987. Today price remained under pressure and pulled back towards the lower boundary at $1,949. Support was respected. Price […]

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Silver outshines gold

A shift in risk sentiment coupled with a weak U.S. dollar, and growing expectations that the Federal Reserve will cut interest rates in the second half of the year, is driving silver prices higher. Silver gained more than $3 in March, marking its best monthly performance since December 2020. Silver is rising even better than […]

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Gold: $2,000 level is a tough nut to crack!

For the gold market, the $2,000 level remains a tough nut to crack. But retail investors do not expect significant sell-offs this week. While Main Street investors remain firmly optimistic, Wall Street analysts are a little doubtful, with bullish sentiment making up a slight majority. Even those analysts who are neutral on gold for the […]

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Video market update for April 03, 2023

Potential for the downside movement on Gold and BTC/USD The material has been provided by InstaForex Company – www.instaforex.com Related Posts:BTC update for May 04,.2023 – Triangle pattern in creation May 4, 2023 Technical analysis: BTC/USD has been trading sideways at the price…USD/JPY analysis for May 04, 2023 – Potential for the… May 4, 2023 […]

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Analysis of Gold for April 03, 2023 – Breakout of the triangle pattern to the downside

Technical analysis: Gold has been trading downside this morning and I found breakout of the triangle pattern in the background, which is good sign for the further downside movement. Due to the breakout of the triangle pattern and strong downside momentum, I see potential for the further downside movement. Downside objectives are set at $1.932 […]

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XAUUSD, Day | Potential breakout 1st supportl?

Gold (XAU/USD) has been exhibiting a bullish trend, with an overall momentum that is also bullish. Based on the chart, the price has the potential to make a bullish rebound off the first support level and then move towards the first resistance. The first support level, which is at 1948.51, is a strong overlap support […]

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Technical analysis on Gold for March 31st, 2023.

Blue lines- bullish channel Red lines- triangle pattern Gold price is trading around $1,979. Price remains inside the triangle pattern we mentioned in our previous analysis. Price has reached the short-term resistance level of $1,983 where we find the upper triangle boundary. A rejection at current levels will imply that a pull back towards the […]

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US stock market closes higher, Dow Jones gains 0.43%

At the same time, there are indicators that hold back the growth of Wall Street, for example, internal macro statistics. So, earlier, the US Department of Commerce lowered the estimate of the country’s GDP growth in the fourth quarter to 2.6% in annual terms (if GDP grew at the same pace for four consecutive quarters), […]

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XAU/USD outlook for March 30, 2023

In a situation of continued high inflation, political and economic uncertainty, and amid expectations of soft decisions from the Fed, purchases of defensive assets—yen, government bonds, gold—remain very relevant. Gold quotes are very sensitive to the decisions of the world’s largest central banks, especially the Fed on interest rates, but there are growing expectations that […]

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XAU/USD: Strong bullish momentum remains

After yesterday’s minor correction, the dollar index (DXY) is falling again today. As of writing, DXY futures were trading near 102.15, 60 pips below last week’s close. The price of DXY futures is developing a downward trend towards 100.68, corresponding to the lows of the previous wave of decline from 114.75 (wave high and high […]

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Triangle pattern in Gold for March 30th, 2023.

Blue lines- bullish channel Red lines- triangle pattern Gold price is trading around $1,968. Price has made no real progress over the last two weeks. Price is moving sideways as it has formed a triangle pattern as can be seen in the 4 hour chart. Trend remains bullish as price is still inside the upward […]

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Gold at $2,000 an ounce

According to forecasts by the Dutch bank ING, in the fourth quarter of this year, gold could cost an average of $2,000 an ounce. They base their forecasts on the possibility of a rate cut by the Federal Reserve. Warren Patterson, head of commodities strategy at ING, said a pullback in gold is inevitable after […]

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Silver maintains bullish momentum.

Violet lines- Fibonacci retracement levels Red line- bearish RSI divergence Blue lines- bullish channel In our previous analysis on Silver we noted how important it was for bulls to keep price inside the upward sloping channel. Support at $22.78 was respected. Price continues making higher highs and higher lows inside the blue upward sloping channel. […]

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Markets may see a correction ahead of fresh US data

Risk appetite is increasing as authorities are trying their best to cushion the crisis that is happening to the US banking system. This led to the decrease of dollar demand in the market. Many seem to believe that another collapse should not be expected from the US banking system in the near future, and that […]

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US premarket trading on March 30, 2023. US stock market rally goes on

US stock indices rally as investors expect interest rates to peak soon and banking woes to fade away. European stock indices rise steeply. S&P 500 futures and Nasdaq-100 futures gain at least 0.4% each, following a rally on Wednesday. Stocks have recently been bullish on the back of no fresh news about interest rates coming […]

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Analysis of Gold for March 30,.2023 – Key resistance in the play at $1.968

Technical analysis: Gold has been trading upside this morning and I can see that key resistance zone is set at hte price of $1.968. Pay attention to this level cause its important for the further direction. In case of the rejection of the resistance at $1.968, Gold may go down towards $1.957-$1.948. In case of […]

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Gold sellers in control again

The price of gold rebounded in the short term but it seems that the buyers are exhausted already. The instrument is trading at 1,963 at the time of writing and it seems under some bearish pressure. Technically, the price action signaled a potential larger correction phase. Still, we need strong confirmation before taking action. The […]

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Peter Schiff: Bitcoin will fall to zero sooner or later

The image is significantly more powerful in the 4-hour time frame. The value of bitcoin has rapidly increased and has easily surpassed the $25,211 mark. Of course, the “black swan” of the American banking crisis and the Fed’s emergency steps to keep the system functioning did not go unnoticed. Now, the growth can proceed with […]

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Ichimoku cloud indicator analysis on Gold for March 29th, 2023.

Gold price is trading around $1,964 as price is hovering above the 4 hour Kumo. Cloud support at $1,959 is very important for the near term. The tenkan-sen (red line indicator) provide support at $1,961. Resistance by the kijun-sen (yellow line indicator) is at $1,973. The Chikou span (black line indicator) is below the candlestick […]

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What will happen to the dollar?

Despite some easing of the banking crisis, the potential for negative economic consequences remains. And it is not yet clear whether bank failures are limited only to SVB and Signature Bank of New York or whether these banks are harbingers of new bank failures. Inflation in the U.S. is still high. Accordingly, it creates problems […]

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Gold’s strength will be tested

The lack of news is already good news for the stock market. Shocks from the bankruptcy of three U.S. banks, the Credit Suisse takeover, and the problems of First Republic and Deutsche Bank have investors scrambling for safe haven assets. This allowed gold to soar above $2,000 an ounce for the first time since the […]

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Bitcoin continues to move sideways, but the clouds are gathering: what to expect in the near term?

The previous bullish week ended and left the cryptocurrency market in a state of increased volatility. The market has been consolidating and moving sideways for the fifth day to stabilize the situation. Trading volumes have fallen below $20 billion, and volatility has decreased significantly. At the end of yesterday’s trading day Bitcoin came close to […]

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Technical Analysis of BTC/USD for March 29, 2023

Crypto Industry News: MicroStrategy acquired another 6,455 BTC worth approximately $150 million. The founder and head of the company, Michael Saylor, announced the next step of the company on the social network Twitter. Saylor also announced that MicroStrategy has repaid its $205 million loan backed by Bitcoin tokens to failed bank Silvergate. According to Saylor’s […]

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US stock market closed lower, Dow Jones down 0.12%

At the close in the New York Stock Exchange, the Dow Jones fell 0.12%, the S&P 500 index fell 0.16%, the NASDAQ Composite index fell 0.45%. The attention of traders remains around the banking sector. On Monday, the US Federal Deposit Insurance Corporation (FDIC) announced that the deposits and loans of the bankrupt Silicon Valley […]

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Technical analysis on Silver for March 28th, 2023.

Red line- bearish RSI divergence Blue lines- Bullish channel Violet lines- Fibonacci retracement levels Silver is trading around $23.19. Short-term trend remains bullish as price continues making higher highs and higher lows. Silver is trading inside an upward sloping channel. Price has so far retraced almost 78.6% of the entire decline from the February 2023 […]

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