Technical analysis: Gold has been trading downside today and I found rejection of the key resistance cluster at the price of $1.943, which is good sign for the further downside movement. Due to the rejection of the resistance cluster and the oversold condition on oscillator, I see potential for the further drop towards lower references. […]
Gold price is trading around $1,942 inside the Daily Kumo (cloud). If price closes above the lower cloud boundary, then trend will change to neutral from bearish. Price is also challenging the kijun-sen (yellow line indicator) at $1,943.50. The tenkan-sen (Red line indicator) is currently at $1,953 providing short-term resistance. The Chikou span (blue line […]
What does the future of Bitcoin depend on? Is it influenced by the macroeconomic background or the return of major players to the crypto market? A series of scandals in 2022-2023 has dampened the enthusiasm of institutional investors to put money into tokens, leading to a decrease in volatility and trading volumes. Digital assets have […]
Technical analysis: Gold has been trading in the sideways range at the price of $1.934 but in the downside trending condition and potential breakout of the consolidation. Due to the breakout of the tight triangle in the background and the strong downside momentum in the background, I see potential for the further drop towards lower […]
Early in the American session, gold (XAU/USD) is trading around 1,937.50, around the 2/8 Murray, and below the 200 EMA. In the H1 chart, we can see the formation of a symmetrical triangle pattern. Hence, gold is likely to rebound above 1,928 in the next few hours and could reach the 1,942 area. In case […]
Gold price is trading around $1,935. In Ichimoku cloud terms in the Daily chart trend is bearish as price is below the Kumo (cloud). Yesterday price closed below the kijun-sen (yellow line indicator) suggesting more downside should be expected. At $1,940 we find both the kijun-sen and the lower cloud boundary. This is important daily […]
GDP, labor market, and inflation level data are critical for the Federal Reserve in planning credit and monetary policy parameters. If the official employment data, which will be released on Friday (at 12:30 GMT), also turn out to be strong, the Fed leaders will have an additional argument in favor of a new interest rate […]
Last Wednesday, the dollar significantly strengthened, and its DXY index jumped to levels from a month ago, reaching 102.58. The bullish impulse for the dollar came both from a strong report by the company Automatic Data Processing (ADP), which showed that private sector employment in the U.S. increased by 324,000 in July, well above the […]
Technical analysis: Gold has been trading sideways at the price of $1.936 and there is the chance for the further downside movement. Due to the breakout of the support level at $1.941 and no major sign of strength, I see potential for the further drop towards lower reference. Downside objective is set at the price […]
After being stuck on its daily chart area of Bearish Fair Value Gap, silver commodity asset which is also coincidentally has moved below the 20 WMA, so Silver in the next few days as long as there is no significant upward rally moving above the 25,090 level, Silver will move down to test the 22,631 […]
History repeats itself. But the world is changing, so the financial markets’ reaction to the same events can be radically different. In 2011, S&P agency downgraded the credit rating of the United States, leading to a drop in Treasury bond yields, a weakening U.S. dollar, and a surge in gold prices. In 2023, Fitch followed […]
Technical analysis: Gold has been trading downside as I expected and the price has reached first downside objective at $1.935 Due to the strong downside momentum and no major sign of the strength, I see potential for the further downside movement towards lower reference. The good confirmation will be if the market can hold below […]
XAU/USD crashed in the last hours and now is located at 1,934 at the time of writing. The downside pressure is high as the USD rallied. Dollar Index’s further growth forced the yellow metal to extend its sell-off. In the short term, the bias is bearish despite temporary rebounds. Fundamentally, Gold took a serious hit […]
Red line- resistance trend line Nothing new in Gold charts today relative to yesterday or the day before. Price got rejected at the red trend line resistance and remains under pressure. As expected Gold price has reached the recent lows of $1,940 and is challenging them. Gold price continues making lower lows and lower highs. […]
Early in the American session, gold (XAU/USD) is trading around 1,950.74 below the 200 EMA and above the 21 SMA. We can see that XAU/USD is trading within an uptrend channel formed since August 1st. With a technical bounce at about 1,945, the instrument is likely to resume its bullish cycle. The area from 1,940 […]
Futures on US stock indices opened with a significant drop following the news of a credit rating downgrade for the US. S&P500 futures fell by 1%, and Nasdaq 100 futures tumbled by 1.3%. Global stock indices also declined due to the Fitch Ratings’ downgrade, prompting a swift shift away from riskier assets. In Europe, the […]
Fitch downgraded the U.S. credit rating to AA+ from AAA due to governance erosion over the past two decades. This is evident in the repeated confrontations between Democrats and Republicans over debt limits and last-minute resolutions. The organization expects a recession in the American economy around 2023–2024 and predicts an increase in the budget deficit […]
Potential for the further downside movement on the GBP and Gold… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm […]
Early in the American session, gold (XAU/USD) is trading around 1,950.52 below the 200 EMA and below the 21 SMA. We can see that gold is under bearish pressure and is likely to reach 1,945. On July 26, it reached the bottom of the downtrend channel that started a technical bounce. In the next few […]
The US dollar index continues to recover, reaching new three-week highs near 102.40. This is due to the lack of significant changes in the overall market risk sentiment, supporting an optimistic session. Currently, investors and the forex market have shifted into a wait-and-see mode, anticipating important releases, especially the US labor market report, which may […]
Red line -resistance Gold price is trading around $1,950. In our previous analysis we warned bulls that Gold price was vulnerable to a move towards $1.950 after the rejection at the red downward sloping trend line. Yesterday’s rejection at $1,972 was a sign of weakness. Price is now approaching the recent lows around $1,940. For […]
Global stock markets finished July with confident growth, despite decisions by the Federal Reserve, the European Central Bank, the Bank of England, and some other central banks to raise key interest rates. It seems that the overall positive sentiments may continue into the last month of the calendar year. At the same time, the U.S. […]
Record-high demand and the supply cuts by Saudi Arabia and Russia have returned the oil market to a deficit. Investors expect Riyadh to extend its commitment to reduce production by 1 million barrels per day for another month, including September. Goldman Sachs forecasts that global oil consumption surged to a record 102.8 million bpd in […]
Technical analysis: Gold has been trading downside this morning and I found that sellers are in control and that there is strong downside momentum. Due to the strong downside momentum and lower highs and lower lows in the background, I see potetnial for the further drop towards lower references. Downside objectives are set at $1.944 […]
American stocks are on the rise: the Dow Jones Industrial Index (.DJI) added a fresh 0.28% and stands at a height of 35,560.19, S&P 500 (.SPX) extended its positions by 0.15% to 4,589.15, and Nasdaq Composite (.IXIC) proudly added 0.21% to 14,346.02. Real tech giants – Apple Inc (AAPL.O) and Amazon.com (AMZN.O) – are preparing […]
Red line- resistance Gold price is trading around $1,966. Price reached the red downward sloping resistance trend line and is showing rejection signs. Price formed a new lower high after the rejection. Gold price remains vulnerable to a move lower as long as price is below the trend line. Gold continues forming lower lows and […]
Early in the American session, gold (XAU/USD) is trading at 1,964.40, above the 200 EMA, and above the 21 SMA. The instrument has been extending the uptrend since July 27. According to the 1-hour chart, we can see that gold is moving within an uptrend channel and it could reach the top of the trend […]
Bitcoin has broken out of its sideways range on the 4-hour time frame, as clearly seen in the illustration below. This signals a new downtrend, which has been poised to reach $100,000 for the past two years. The initial target is $26,500, but a more realistic correction to $24,350 and below is likely. If the […]
Futures for the benchmark US stock indices slightly rose in the morning after a recovery last Friday. Futures for the benchmark US stock indices slightly rose in the morning after a recovery last Friday. Futures for the S&P 500 grew by 0.1%, and for the Nasdaq 100 by 0.2%. Global stock markets are also in […]
Based on the growing expectations that the Federal Reserve is nearing the end of its latest tightening cycle, Greg Shearer, executive director of global commodities research at JPMorgan Chase, stated that by the second quarter of 2024, the Fed will begin cutting interest rates. According to JPMorgan’s semi-annual forecast, analysts believe the average price of […]
