You can’t envy the Bank of England. Despite its meeting taking place later than the meetings of the Federal Reserve and the European Central Bank, the tasks facing Andrew Bailey and his team appear much more complex than those of their European and American counterparts. Not only is inflation in the UK higher than in […]
Let’s take a look at the technical picture of EUR/USD, AUD/USD 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 […]
On the daily chart, gold commodity asset appears on its price movement: 1. There is a Bullish 123 pattern followed by Bullish Ross Hook (RH) which one of the managed to broke above. 2. CCI indicator managed to breaks above its three levels (-100, 0, & 100). 3. The appearance of Descending Broadening Wedge pattern. […]
Technical analysis: Gold has been trading upside today but I found potential completion of the correction, which is good sign for the further downside movement. Due to the drop in the background and weak rally that is active, I see potential for the downside continuation towards lower references. Downside objectives are set at the price […]
Gold price is trading around $1,954 after moving as low as $1,942 yesterday. Price tested the kijun-sen (yellow line indicator) support at $1,939 and held above it. Bulls continue to defend Gold. In Ichimoku cloud terms trend is neutral as the candlestick pattern is still inside the Kumo (cloud). The Chikou span (black line indicator) […]
Crypto Industry News: Kuwait announces a complete ban on investing in cryptocurrencies. The country thus joined 10 other countries in the Middle East and North Africa that do not allow investments in digital assets. It turns out that this ban is not just a suggestion, because there are severe penalties for breaking the new law. […]
Early in the American session, gold (XAU/USD) is trading around 1,957.36, below the 3/8 Murray, and below the 21 SMA located at 1,964.92. We can see that gold is making a strong technical correction after having reached 1,982 in the European session. We expected that in the next few hours gold can bounce around the […]
Gold price is trading around $1,968 after breaking above the Kumo (cloud) resistance. After the announcement of the ECB rate policy the Dollar is strengthening and Gold is under pressure. Price has already broken inside the Kumo (cloud) and below the tenkan-sen (red line indicator) that provided support at $1,971.50. Next support is at the […]
Technical analysis: Gold has been trading upside in the defined upside channel. Due to channeling mode, I see potential for the potential breakout play to the downside. Due to the lack of buying power and divergences in momentum, I see potential for the breakout and downside movement towards lower references. Downside objectives are set at […]
Early in the American session, gold (XAU/USD) is trading around 1,967, below the 3/8 Murray, and below the 61.8% Fibonacci retracement (1,984 -1,951). In the 4-hour chart, we can see that gold reached a high at about 1,974 during the European session. We now see a technical correction, so the price is likely to reach […]
Yesterday, the Federal Reserve System began its two-day meeting on monetary policy. Everyone is expecting a 25 basis point rate increase. However, the question of importance is whether this rate hike will be the last in the most aggressive tightening cycle in over 40 years. According to the CME FedWatch Tool, there is only a […]
Black line- bearish RSI divergence Blue lines- Fibonacci retracements Red lines- bullish channel Gold price is trading around $1,971 after making a low around $1,951. Price has broken out of the bullish channel and is now back testing the lower channel boundary from below. Today’s high at $1,973-$1,974 challenged the channel boundary resistance. The bearish […]
Technical analysis: Silver has been trading upside this morning but I found rejection of the resistance at $24.66, which is good sign for the potential drop. Due to the downside trend in the last few days and the rejection of the resistance, I see potential for the further drop towards lower reference. Downside objectives are […]
Gold is rising not thanks to, but in spite of it all. The USD index is going up; however, the precious metal managed to hold above the important level of $1,954 per ounce and is ready to continue its rally. The reasons for this deviation in intermarket relationships should be sought in the Forex market. […]
CFTC data reflects a significant deterioration in sentiment towards the US dollar. The overall short position on the USD increased by 7.39 billion during the reporting week, reaching -19.88 billion, marking the largest weekly change since 2020, and the highest bearish bias since 2021. Significant corrections were observed in positions on the euro and yen. […]
Gold price is trading below $1,960. In the 4 hour chart trend has changed from bullish to neutral as price enters inside the Kumo (cloud). The Chikou span (black line indicator) has turned bearish by breaking below the candlestick pattern. As long as price is inside the Kumo, Gold will be vulnerable to a pull […]
Technical analysis: Gold has been trading downside as I expected and there is still chance for the lower prices and potential for the downside reference to be on the test. Due to the downside momentum and the breakout of rising trendline in the background, I see potential for the further drop towards lower references. Downside […]
Oil is focused more on the future than the present. The commitment of Chinese authorities to support the troubled real estate sector, boost domestic demand, and address local authorities’ debt issues, along with the anticipated conclusion of the monetary restriction cycles by the Fed and other central banks, has enabled Brent to experience a four-week […]
Gold price is trading around $1,958. According to the Ichimoku cloud indicator, trend remains bearish as price is still below the Kumo (cloud). Price is now challenging the tenkan-sen (Red line indicator) that provides short-term support around $1,957. As long as price is below the cloud, Gold is vulnerable to a move lower at least […]
The price of gold is bearish in the short term and it seems determined to hit new lows as the USD is bullish. XAU/USD tried to rebound after registering a strong sell-off. Technically, the rate could test and retest the near-term resistance levels before going down. Fundamentally, the UK, French, German, and Eurozone Flash Manufacturing […]
Early in the American session, Gold (XAU/USD) is trading around 1,966.31, below the 3/8 Murray and below the 21 SMA located at 1,971. Last week, we could see that gold broke out of the uptrend channel formed since July 6 and is now consolidating. Most likely, there is a rejection below 1,970 and gold could […]
The rise in gold at the beginning of last week to a two-month high triggered strong bullish sentiments. Nevertheless, analysts warn investors about the upcoming Federal Reserve meeting, where a decision on the interest rate that affects the U.S. dollar will be made. The latest weekly gold survey shows that retail investors anticipate a price […]
Technical analysis: Silver has been trading downside this morning and I found breakout of the key support cluster at 24.60, which is good sign for the further downside movement. Due to the breakout of the support cluster and the breakout of the rising trend-line in the background, I see potential for the further drop towards […]
Summarizing the preliminary results of the ending week, we see that it has been favorable for the dollar. As of writing, DXY index was near 100.75, recovering from a sharp decline last week following the publication of U.S. CPI indices, which indicated another slowdown in inflation in June. After the release of mixed data from […]
Next Wednesday, the Federal Reserve’s decision on the interest rate will be published. Earlier reports from the Department of Labor and the U.S. Bureau of Labor Statistics confirmed the stability of the U.S. labor market and indicated ongoing inflation slowdown. However, market participants expect another interest rate hike by the Federal Reserve at this meeting. […]
Early in the American session, gold (XAU/USD) is trading around 1,966, above the 200 SMA and below the 21 SMA. We can see that gold is trading within a downtrend channel formed since July 19 when it hit the high of 1,987. So, the bullish cycle is expected to resume. In the next few hours, […]
Black line- bearish RSI divergence Red lines- bullish channel Blue lines- Fibonacci retracement levels Gold price is trading around $1,960 after making a high around $1,987 and getting rejected at the 50% Fibonacci retracement of the last leg down from $2,080. Price remains inside the red upward sloping channel and is now challenging the lower […]
Futures on US stock indices have slightly recovered from yesterday’s losses as investors digest a tense day of corporate reports and new signs of strengthening economies in the US and the UK, supporting the case for further interest rate hikes by central banks. S&P500 futures are up 0.3%, while NASDAQ shows a gain of 0.4%. […]
Gold continues to play a significant role in the reserves of central banks. According to the International Monetary Fund and the World Gold Council, countries all over the world continue to ramp up purchases of the metal. WGC Senior Analyst Krishan Gopaul reported that Qatar purchased 1.6 tons of gold in June, the first increase […]
Technical analysis: Gold has been trading downside as I expected and the price has reached first downside objective at $1.970. I still see potential for the further downside movement. Due to the fake breakout of the swing high at $1.981 in th background and the downside momentum, I see potential for the further downside movmeent […]
