Let’s take a look at the technical picture of EUR/USD, EUR/JPY and Gold ahead of ECB interest rate decision. 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 […]
Technical analysis: Gold has been trading downside this morning and I found breakout of the triangle pattern, which is good sign for the further downside movement. Due to the downside short-term trend and the breakout of the consolidation pattern, I see potential for the further drop towards downside reference. Downside objective is set at the […]
Early in the American session, gold is trading around 1,912.29 (XAU/USD), bouncing having hit a low at 19,05.42 due to inflation data released in the United States. The slight increase in US inflation data could further aggravate investors’ fears and keep gold under downward pressure in the short term. However, the bears will take a […]
The price of gold is trading in the green at 1,913 on the H1 chart. XAU/USD registered sharp movements in both directions around the US inflation data. Technically, the price action signaled exhausted sellers. Still, a strong rebound needs strong confirmation. Fundamentally, you knew from my previous analysis that the US economic data could be […]
Blue lines- Fibonacci retracement levels Gold price is trading around $1,910. Short-term trend remains bearish as price continues making lower lows and lower highs after the top around $1,950 area. Price has now retraced 61.8% of the entire upward wave from $1,884. The $1,910 is important Fibonacci support. A break below the $1,910 level will […]
No matter how strong the headwind is, gold continues to fight. Looking at the rapid rally of U.S. Treasury bonds and the strong position of the U.S. dollar, one might assume that the precious metal should be trading $100–200 per ounce cheaper. However, high demand for physical assets supports prices. Bulls in XAU/USD still have […]
Technical analysis: Gold has been trading downside as I expected and there I see chance for further drop Due to the breakout of the of the channel in the background and the short-term downside trend, I see potential for the further drop towards lower references. Downside objectives are set at the price of $1.902 and […]
Gold price is under pressure. In our previous analysis we noted the importance of the cloud resistance and in case of a rejection, that would be a new bearish signal. Trend remained bearish as price never broke inside the cloud. On the contrary price got rejected and broke below both the tenkan-sen (red line indicator) […]
US futures slipped after failing to sustain at their recent highs. The S&P 500 futures dipped by 0.3%, while the tech-heavy NASDAQ dropped by nearly 0.5%. Oracle’s report of slowing cloud sales weighed on tech stocks, causing its shares to plummet by 10%. The company also highlighted risks associated with tech sector investments. The euro […]
Hedge funds continue to reduce their bearish positions on gold. Economists have noted that bullish sentiment should improve if gold prices surpass the $1,980 per ounce mark. A detailed report from the CFTC on trader commitments showed that capital managers reduced their speculative long positions in Comex gold futures by 387 contracts to a total […]
All good things eventually come to an end. According to JP Morgan, investors should not get too carried away with buying oil, as its rally is coming to an end. The state of the global economy is expected to deteriorate. Currently, weak purchasing managers’ data indicate sluggish economic growth in Europe and China, offsetting the […]
Potential for the drop on 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 end […]
Silver market loses momentum as investors reduce their exposure to the precious metal. A disaggregated report said speculative long positions in Comex silver futures decreased by 5,334 contracts to 38,143 contracts, while short positions fell by 2,203 contracts to 24,795 contracts. The excessive reduction in bullish bets led to a decline in the net silver […]
Technical analysis: Gold has been trading downside this morning and I found breakout of the contraction and support at $1.920, which is good sign for the further downside movement. Due to the short-term downside trend and the breakout of the intraday contraction and support, I see potential for the further drop towards downside references. Downside […]
Overview : The GBP/USD pair continues to move upwards from the level of 1.2796. According to the previous events, the GBP/USD pair is still moving between the levels of 1.2796 and 1.2928; for that we expect a range of 132 pips (1.2796 – 1.2928). On the one-hour chart, immediate support level is seen at 1.2547, […]
On the 4-hour timeframe, we see the same as on the 24-hour TF. We haven’t seen any continuation after Bitcoin sharply rose by $2,000 in just an hour. Moreover, Bitcoin has been much more inclined toward new drops than new gains in the last two weeks. Therefore, we expect Bitcoin, the world’s first cryptocurrency, to […]
So, what happened to Bitcoin after it sharply rose two weeks ago? Nothing. The cryptocurrency dropped back to $25,211 (although it has not yet reached it) and is now in another flat zone. It’s worth reminding that this is how Bitcoin has traded for the past few months and even years. First, a sharp jump […]
Gold price is trading around $1,925. According to the Ichimoku cloud indicator in the 4 hour chart, trend is bearish as price remains below the 4hour Kumo (cloud). Price is already making an attempt to break inside the Kumo. With the kijun-sen (yellow line indicator) providing resistance at $1,926 and the lower cloud boundary at […]
Potential for the further downside movement 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 […]
Gold traded downward last week, dropping by approximately 1% after the Labor Day holiday in America. The latest weekly survey indicated that optimism left the precious metals market last week. According to Sean Lusk, Co-Director of Commercial Hedging at Walsh Trading, gold’s performance still depends entirely on the U.S. dollar. He anticipates a weakening of […]
Technical analysis: Gold has been trading upside this morning but I found rejection of the resistance zone at the price of $1.930, whch is good sign for the potential downside rotation. Due to the rejection of the key resistance and the short-term downside trend, I see potential for the further downside movement towards downside reference. […]
With the penetration of the three important levels of the CCI indicator on the 4 hour timeframe, the Gold commodity asset indicates that Sellers are dominating this commodity asset, even though there is currently an upward correction to test the Equal High level of 1928.17, but as long as it does not penetrate above the […]
On its daily chart, USD/IDR exotic currency pairs seems like there is a Golden Cross on MA 50 with MA 200. This indicates that soon the United States USD currency will strengthen as long as there is no strengthening of the Garuda currency which break below the 15224 level, then the USD/IDR will continue its […]
Gold prices modestly climbed on Friday, driven in part by a decline in U.S. government bond yields. At the time of writing, December futures for gold on the COMEX in New York were edging up to $1,925 per troy ounce. The 10-year U.S. Treasury yield, meanwhile, slipped to 4.228% from 4.264% compared to the previous […]
Gold price is under pressure. Gold is now trading around $1,921 after making a high earlier today around $1,928. Gold price is now outside and below the cloud (Kumo). Earlier today price bounced higher towards the kijun-sen (yellow line indicator) resistance and got rejected. This rejection has lead to price breaking below the Kumo. If […]
China remains insatiable when it comes to gold. For the tenth consecutive month, the country’s central bank has been replenishing its currency reserves with this precious metal. According to updated data, in August, the People’s Bank of China purchased 29 tons of gold, increasing its purchases since the beginning of this year to 155 tons. […]
Data on GDP, labor market, and inflation levels are crucial for the Fed when planning its monetary policy parameters. Positive macroeconomic data from the United States increases the likelihood of the Federal Reserve maintaining its interest rates at high levels. This is a bullish factor for the dollar and bearish for gold, whose prices are […]
“If stronger economic activity continues, it could lead to a resurgence in inflation,” said Lorie Logan, the head of the Federal Reserve Bank of Dallas, on Thursday, adding that the strength of the labor market indicates that “we [the Fed] haven’t finished the job of restoring price stability.” These important statements from the Fed representative […]
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 […]
