The price of gold crashed in the short term and now is located at 1,974 at the time of writing far below today’s high of 1,987. The yellow metal turned to the downside as the USD appreciated versus its rivals today. Technically, XAU/USD signaled exhausted buyers, so a correction could be natural. Fundamentally, XAU/USD accelerated […]
The World Gold Council (WGC) report states that Turkey has returned to replenishing its gold reserves after a three-month surge in sales. In June, the Central Bank of Turkey increased its reserves by 11 tonnes, marking its current total gold reserves at 440 tonnes. This comes after a three-month period of selling, during which 159 […]
On Thursday, futures on US stock indices slumped as disappointing tech company earnings cast doubt on further growth in the tech sector in the second half of the year. Nasdaq 100 futures dropped by 0.7% following the sell-off of Netflix Inc. stocks, prompted by no sales estimates and revenue forecast for the third quarter, which […]
Technical analysis: Gold has been trading upside but I found fake breakout of the swing high at $1.983, which is a good sign for the potential downside rotation. Due to the fake breakout of the swing high and the breakout of the mini rising trend-line, I see potential for further downside movement. Downside objective is […]
If we look on its 4 hour chart, EUR/USD main currency pairs seems like Buyers still dominates where this things confirmed by EMA 12 & 26 which is still intersecting Golden Cross as well as indicator CCI which manages to break above its three levels and hold on to the level 0 which indicates that […]
The price of gold retreated a little after reaching yesterday’s high of 1,984. Now, it is trading at 1,970 at the time of writing. The yellow metal turned to the downside and it seems very heavy in the short term as the Dollar Index rallied even if the US reported poor data. You already know […]
Today, one of the largest American banks, Goldman Sachs, released its Q2 2023 earnings report, which fell short of analysts’ projections. The dip in profits was primarily attributed to losses related to commercial real estate and the sale of its credit division, GreenSky. Earnings per share came in at $3.08, compared to economists’ estimate of […]
Gold price is trading around $1,976 and yesterday price closed inside the Daily Kumo. This has changed trend to neutral from bearish. The Chikou span (black line indicator) has also broken above the candlestick pattern (bullish). Price remains above the tenkan-sen and kijun-sen indicators confirming the short-term bullish momentum. The tenkan-sen (Red line indicator) provides […]
US stock index futures have only slightly corrected after the recent rally that occurred in anticipation of the inflation crisis ending, which is affecting nearly all developed economies worldwide. S&P 500 futures are trading near the zero mark, while NASDAQ has gained about 0.2%. A positive corporate earnings season is benefiting risk assets, including stocks, […]
After 10 consecutive increases, the Federal Reserve halted their rate hike cycle, keeping rates between 5% and 5.25% in June, and will likely continue the pause until the July FOMC meeting. However, Fed Chairman Jerome Powell and several other members of the bank emphasized that this does not signal a shift towards a more flexible […]
When the Federal Reserve is preparing to fire the last bullet from its gun, a rally in gold should come as no surprise. The nearing end of the monetary policy tightening cycle creates a favorable background for “bulls” on XAU/USD. In such conditions, the yield on Treasury bonds decreases, and the U.S. dollar retreats. This […]
Technical analysis: Gold has been trading upside yesterday and I found that key resistance cluster at hte price of $1.982 is on the test today. In case of the rejection of the key resistance at $1.982, I see potential for the rotation back downside towards $1.960 In case of the breakout of the resistance at […]
The euro attempted several times to reach a new yearly high following yesterday’s statements by US Treasury Secretary Janet Yellen, but the pair faced a slight sell-off after the release of US retail sales data. However, the data, despite weak figures, merely served as a reason for a market turnaround. During her speech, the head […]
When the curtain fell on the New York Stock Exchange trading, the Dow Jones index stood out among others, soaring by 1.06% and setting a new record for the past 52 weeks. The S&P 500 index also pleased investors by rising 0.71%, while the NASDAQ Composite index added 0.76% to its value. Today’s trading stood […]
Gold price is trading above $1,970. According to the Ichimoku cloud indicator in the Daily chart we are very close to a trend change from bearish to neutral if price closes today inside the Kumo (cloud). As we mentioned in previous posts, with Gold price above the tenkan-sen (red line indicator) and the kijun-sen (yellow […]
The price of gold edged higher as the USD depreciated. You knew from my previous analysis that XAU/USD could approach and reach new highs as the bias is still bullish. It’s trading at 1,982 at the time of writing and it could hit new highs after taking out the immediate resistance levels. Fundamentally, the Canadian […]
Market balance returned, as indicated by the slight weakening in dollar and consolidation of Treasury yields, as well as the attempts of stock markets to resume a rally following the release of data indicating a sharp decrease in consumer inflation in the US. It seems that investors realized that the Fed could just be using […]
Technical analysis: Gold has been trading upside this morning but I found rejection of the key resistance at the price of $1.963, which is good sign for the potential downside movement. Due to the potential change in the short term trend dynamic from bullish to bearish and the rejection of the resistance cluster, I see […]
Has the Euro climbed too high? The market is consolidating near 15-month highs, giving investors time to ponder this question. According to Goldman Sachs, the resilience of the American economy will serve as a buffer, preventing the U.S. dollar from falling too low. The bank predicts that EUR/USD will rise to 1.15 by 2024, which […]
Early in the American session, Gold (XAU/USD) is trading around 1,959.71, below the 21 SMA and above the 200 EMA. We can see that XAU/USD is pulling back. It is likely to continue its bearish move and reach 1,942, the level that coincides with the bottom of the uptrend channel. The instrument could reach 2/8 […]
Blue lines- Fibonacci retracement levels Red lines- bullish channel Gold price is under pressure. Price has reached our first target around $1,960 and the 38% Fibonacci retracement level. Price has been making higher highs and higher lows forming the red upward sloping channel. A pull back towards the lower channel boundary around $1,935 is justified. […]
Thanks to a 6-day rally, the British pound has solidified its leadership in the G10 currency race. Since the beginning of the year, it has strengthened by over 8% against the U.S. dollar and is trading at its highest levels since April 2022. Goldman Sachs notes that high wages and inflation in the UK, which […]
Technical analysis: Gold has been trading sideways this morning but I see potential for the further upside continuation due to the lack for sellers and upside momentum in the background. Due to the lack of sellers, breakout of the supply trend-line and bullish condition in the background, I see potential for the further rally towards […]
Let’s take a look at the technical picture of GBP/USD, AUD/USD and Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for EUR/USD on April 29, 2024 April 29, 2024 EUR/USDOn Friday, the euro fell by 36 pips on significant…Forecast for GBP/USD on April 29, 2024 April 29, 2024 GBP/USD On […]
Bullish sentiment continues to return to the gold market, but despite the potential for price growth, Wall Street analysts, as well as retail investors on Main Street, do not expect a significant breakout. According to the weekly gold survey, market analysts are somewhat more cautious about gold than retail investors. Daniel Pavilonis, senior market strategist […]
On the daily chart the S&P 500 index, although the bias condition as a whole is still in a bull condition, this is confirmed by the 50 & 200 EMA, which is still the Golden Cross and the price is moving in the channel, which is swooping upwards, but some interesting facts appear as follows. […]
The Federal Reserve has clearly won the fight against inflation. Victory is not inevitable, and its timing is not determined, but no one is talking about stagflation or hyperinflation at the moment. The markets responded favorably to the June consumer price report in the United States, selling off the American dollar. EUR/USD quotes soared to […]
Gold is experiencing a slight decline after a vigorous rise yesterday and is consolidating near $1,955. As of 17:10 UTC+3, the price of August gold futures on the Comex exchange has dropped by 0.44% to $1,955.25 per ounce. By that time, September silver futures had also declined by 0.24% to $24.82 per ounce. Yesterday, the […]
When a broad class of assets is experiencing a rapid rally amid the approaching end date of the Federal Reserve’s monetary tightening cycle, Bitcoin’s unwillingness to rise is a troubling sign. Investors are buying everything they can against the U.S. dollar. However, the cryptocurrency is reluctant to spread its wings, even in such favorable conditions. […]
Gold price is trading around $1,960 which was our short-term technical target after the recent bullish signals. According to the Ichimoku cloud indicator in the Daily chart, trend remains bearish despite the recent bounce as price remains below the Kumo (cloud). For the Ichimoku cloud indicator this is still considered a bounce in the Daily […]
