Technical Analysis – Gold’s bears take the upper hand

Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the 2,079.19 record high. The short-term technical indicators are bearish and point to more weakness in the market. Looking at the 4-hour chart, gold prices are being capped by the 1,984 resistance and the 23.6% Fibonacci retracement […]

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We Organised a Memorable Evening for XMXclusive Partners

On April 5, we rolled out the red carpet for our XMXclusive partners from Thailand and offered them an experience they’ll never forget at the 5-star Peninsula Hotel. It was a packed evening, including a gourmet dinner, and live music from fan favourite Wan Thanakrit. Our XMXclusive partners were treated to a once-in-a-lifetime experience, including […]

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Forex forecast 05/24/2023 NZD/USD, AUD/USD and USDX from Sebastian Seliga

Let’s take a look at the technical picture of NZD/USD, AUD/USD and USDX. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for May 24, 2023 May 24, 2023 Upside on Gold in the play… The material has been…BTC update for May 24,.2023 -Potential for the upside… May 24, 2023 […]

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How long will the ECB keep raising interest rates?

Bundesbank President Joachim Nagel on Tuesday stated that the European Central Bank (ECB) will need to raise interest rates several more times and then keep the rates at the same level for some time until inflation is fully suppressed. Since July of last year, the ECB has raised rates by 375 basis points in total, […]

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Video market update for May 24, 2023

Upside on Gold in the play… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:BTC update for May 24,.2023 -Potential for the upside… May 24, 2023 Technical analysis: BTC/USD has been trading sideways at the price…USD/JPY analysis for May 24, 2023 – Key resistance cluster… May 24, 2023 Technical analysis: USD/JPY has […]

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Tips for trading USD

Latest market signals show a possible surge in dollar demand in the near future. As such, gold, which traded yesterday just a few points away from last week’s low, showed a pullback, leaving a target at the level of 1951 Euro also formed a double bottom yesterday, indicating that sooner or later, market players will […]

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BTC update for May 24,.2023 -Potential for the upside movement

Technical analysis: BTC/USD has been trading sideways at the price of $26.680. I found the BTC is trading near the support cluster of the trading range, which is sign that there might be the upside rotation. Upside rotation towards upside reference is in the play… Upside objective is set at hte price of $27.445 RSI […]

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USD/JPY analysis for May 24, 2023 – Key resistance cluster on the test

Technical analysis: USD/JPY has been trading sideways at the price of 138.63 but I found rejection of the key resistance cluster at 138.90, which is good sign for the further downside movement. Due to the rejection of the key resistance and short-term overbought condition, I see potential for the downside movement towards lower references. Downside […]

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Technical Analysis – NZDUSD plummets after RBNZ rate decision

NZDUSD was steadily regaining ground after experiencing a pullback from its three-month peak of 0.6383. However, the pair retraced lower on the back of the RBNZ’s signal of a potential end to its monetary tightening cycle, with the price temporarily pausing its drop around the 200-day simple moving average (SMA). The momentum indicators currently suggest that bearish forces […]

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Analysis of Gold for May 24, 2023 -Potential for higher prices

Technical analysis: Gold has been trading upside yesterday and I found breakout of the mini downside channel in the background, which is good sign for the further rally. Due to the strong upside cycle this year on Gold and breakout of the downside channels in the background, I see potential for the further rally towards […]

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GBPUSD, H4| React off resistance?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Bitcoin undecided in short term, 27,549 as key resistance May 23, 2023 The price of Bitcoin continues to move sideways in the…Technical analysis on GBPUSD for May 23rd, 2023. May 23, 2023 Red line – resistanceGreen line- bullish RSI divergenceGBPUSD remains in…Weekly Technical Analysis […]

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EUR/USD, H4 | Bounce off support?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD. May 22. James Bullard may support the dollar May 22, 2023 On Friday, the EUR/USD pair reversed, favoring the European currency,…BTC update for May 22,.2023 – Rejection fo the support this… May 22, 2023 Technical analysis: BTC/USD has been trading upside this morning […]

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Indicator analysis: Daily review of GBP/USD on May 24, 2023

Trend analysis (Fig. 1). The market may move upward from the level of 1.2410 (closing of yesterday’s daily candle) to 1.2500, the 38.2% pullback level (red dotted line). In case of testing this level, a downward movement is possible with the target of 1.2471, the 61.8% pullback level (blue dotted line). Fig. 1 (daily chart). […]

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USDCAD,H4 | Ascending trendline?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USD/JPY analysis for May 23, 2023 – Breakout of the rising… May 23, 2023 Technical analysis: USD/JPY has been trading upside yesterday but I…USDCAD,H4 | A symmetrical triangle chart pattern? May 23, 2023 The material has been provided by InstaForex Company – www.instaforex.comTechnical Analysis […]

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Indicator analysis: Daily review of EUR/USD on May 24, 2023

Trend analysis (Fig. 1). The market may move upward from the level of 1.0769 (closing of yesterday’s daily candle) with the target of 1.0796, the 5-day EMA (thin red line). Upon reaching this level, a downward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line). Fig. 1 (daily chart). […]

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Hot forecast for EURUSD on 24/05/2023

While PMIs in Europe turned out worse than forecasted, the situation was quite the opposite in the United States. Only the manufacturing index decreased from 50.2 points to 48.5 points, while estimates were for it to rise to 50.3 points. On the other hand, the service sector, instead of declining from 53.6 points to 53.0 […]

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Technical Analysis of ETH/USD for May 24, 2023

Crypto Industry News: Dubai, a global financial hub and symbol of innovation, is planning another groundbreaking project. The city intends to build the world’s first Bitcoin Tower, which is to become an icon of the cryptocurrency world. The tower is intended to serve as a symbolic hub for the crypto community and will be unveiled […]

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Technical Analysis of BTC/USD for May 24, 2023

Crypto Industry News: The price of the main cryptocurrency has moved north again, although market sentiment seems almost unchanged to be neutral. Bitcoin is still waiting for a significant volatility catalyst, and Glassnode provides more data that may shed more light on the current cycle. Glassnode looked at a group of short-term investors (STH,) so […]

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Technical Analysis – USDJPY remains above 200-SMA and within upward channel

USDJPY is holding above the key 137.90 level and the 200-day simple moving average (SMA), suggesting that more bullish actions could come within the short-term upward sloping channel. However, the technical oscillators are showing some weakness as the RSI is pointing down, failing to jump above the 70 level and the stochastic oscillator is flattening […]

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Trading plan for US dollar index on May 24, 2023

Technical outlook: The US dollar index has continued its rally as expected hitting fresh swing highs at 103.60 on Tuesday. The index is seen to be trading close to 103.00 at this point in writing and the slide could continue towards the 102.40-50 zone. Also, note that 102.40 is the previous immediate price support alongside […]

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Trading plan for EURUSD for May 24, 2023

Technical outlook: EURUSD is preparing to extend its corrective rally towards the 1.0870-1.0900 zone in the near term. The single currency pair is seen to be trading close to 1.0780 at this point in writing after finding support just below 1.0770 on Tuesday. A push above 1.0820-25 will confirm that the bulls are now targeting […]

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Elliott wave analysis of USD/TRY for May 24, 2023

From time to time, we take a detour and look at the Turkish Lira. We will take another detour today as USD/TRY is closing in on a possible temporary resistance near 20.93. The economic situation in Turkey is not favorable for the TYR. Inflation is high, but the interest rates are kept artificially low by […]

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