Green line – resistance Black lines- bullish RSI divergence Gold price is trading around $1,915. Technically trend remains bearish as price continues making lower highs and lower lows. As we saw in our Ichimoku cloud analysis, Gold price has not yet broken above the cloud resistance. In today’s chart we see a wedge pattern formation […]
The XAU/USD (Gold) chart shows bearish momentum, with the price below a major descending trend line and encountering resistance from another descending trend line. Potential for a bearish reaction at the 1st resistance level of 1911.86, followed by a decline towards the 1st support level at 1889.42 (overlap support, 100% Fibonacci Projection). Intermediate support at […]
The minutes of the June meeting of the Federal Reserve System (Fed) of the United States became available to the public the day before. The content of the document suggests that the regulator intends to raise the rate in 2023 due to the rapid inflation growth. Moreover, the Fed forecasts a possible recession in the […]
Bitcoin has tested the $31,000 level four times but has yet to be able to break through it confidently. On the 4-hour TF, it is clear that the cryptocurrency covered most of the distance from the $25,211 level in just a few days. For the past two weeks, it’s been slowly climbing and attempting to […]
In order to evoke inflationary concerns and support gold, oil prices must rise even higher, as stated by Western analysts. The further reduction of oil production in Russia and Saudi Arabia has given a boost to oil prices, which, in turn, has supported the gold market. However, according to many market analysts, before inflationary concerns […]
EUR/USD Higher timeframes As of writing, euro is testing the 1.0837–46 barrier (daily medium-term + weekly short-term trend). Over the past few weeks, the bearish players have been trying to break through the supports that form a fairly wide zone, draining the bearish strength in the range of 1.0901 – 1.0875 – 1.0846 – 1.0807. […]
Gold price is trading around $1,924. Price remains inside the Kumo (cloud), trying to break above it. Price is now challenging the upper cloud boundary resistance at $1,925. Yesterday price failed to break out of the cloud and turned lower and found support at the kijun-sen (yellow line indicator) at $1,914. The loser cloud boundary […]
Today, investors will focus on the anticipated minutes of the June meeting of the US Federal Reserve. It is reported that the interest rate will remain at 5-5.25% per annum. Traders are awaiting fresh data on the US labor market on Friday. Experts predict a decrease in the unemployment rate to 3.6% and an increase […]
The XAU/USD (Gold) chart has a bearish momentum, indicating potential downward movement. There is a chance of a short-term rise towards the 1st resistance at 1932.11, followed by a potential reversal leading to a drop towards the 1st support at 1913.73. The 2nd support at 1889.4 provides additional downside support, while the 2nd resistance at […]
Today, investors’ attention is focused on the anticipated minutes of the Federal Reserve’s June meeting. It is reported that the discount rate will remain at the level of 5-5.25% per annum. Also, on Friday, traders are anticipating fresh data on the American labor market. Experts predict a decrease in unemployment to 3.6% and an increase […]
Overview : The GBP/USD pair rallied in Asian trade to a high of around the spot of 1.2703 ahead of the European open thanks in part to a softer US Dollar. The pair does appear to be struggling to reach last week’s highs around 1.2750 as rangebound trade has been a constant theme. The U.S. […]
Gold is trading around $1,933 and is still inside the Kumo (cloud). Price is trading above the tenkan-sen (red line indicator) and is very close to breaking out and above the 4 hour Kumo (cloud). This would be an important sign of strength for the near term. Price is now challenging the upper cloud boundary […]
Futures on US stock indexes declined following Asian and European indexes. The bond market grew after weak service sector data from China raised new concerns about the prospects for global economic growth. S&P 500 and Nasdaq 100 futures fell by over 0.5%, indicating that pressure will gradually increase ahead of the release of the Federal […]
After a rapid collapse in May–June, gold is struggling for direction. On the side of the bears in XAU/USD are the rising yields of U.S. Treasury bonds and a strong dollar, while bulls are betting on sustained geopolitical tension and delayed effects of tightening monetary policy. Since the start of the interest rate hike cycle […]
From what we see in the daily chart of Gold commodity asset, Gold seems moving inside bearish Pitchfork channel as well as confirmed by CCI indicator which manages to break down to the level 100, 0, & -100 and currently stuck moving at the -100 to 0 area level, all of which indicate the trend […]
Gold price is trading around $1,930. According to the Ichimoku cloud indicator in the 4 hour chart trend is now neutral. Price entered the cloud yesterday, initially got rejected but bulls bounced off the tenkan-sen (Red line indicator) to re-enter the Kumo. There are several signs pointing to more upside in Gold. The tenkan-sen has […]
Early in the American session, gold (XAU/USD) is trading around 1,928.88, above the 21 SMA and below the 2/8 Murray. We can observe a slight upward trend. According to the 4-hour chart, we can see that gold is trading within an uptrend channel formed since July 29. Now XAU/USD could go through a technical correction […]
Let’s take a look at the technical picture of AUD/USD, EUR/USD, SP500 and Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for the EUR/USD pair on April 24, 2024 April 24, 2024 The EUR/USD pair on Tuesday rose to the corrective level…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April […]
Crypto Industry News: Hong Kong has decided to take another step towards becoming the leading hub for cryptocurrencies and blockchain technology. The Hong Kong government has announced the appointment of a special team to deal with Web3 projects. The Web3 Development Task Force is to safeguard the ethical growth of Web3 projects in Hong Kong […]
Trading volume on Monday is reduced, as markets are in anticipation of the July 4 holiday in celebration of Independence Day in the U.S. Markets may also be assessing U.S. statistics published earlier on Monday. Specifically, the U.S. Manufacturing ISM Index in June dropped to 46% from May’s 46.9%, although analysts had expected the index […]
For the reporting week, the short position on the USD grew by $3.3 billion to -$13.5 billion. The growing demand for the dollar over the past two weeks has completely offset the net short position by a significant margin. Most of the change in sentiment is reflected in the sharp decline in speculative traders’ net […]
In our previous analysis on Gold we warned bears that price action was pointing to a bigger bounce towards the Kumo (cloud) resistance. Today price not only reached our first bounce target at the lower cloud boundary, price has now also entered the cloud with increased chances of getting a short-term reversal signal from bearish […]
Early in the American session, gold (XAU/USD) is trading at 1,986 above the 21 SMA and above the symmetrical triangle pattern that was broken last week. We may see a correction from the 1,922 high towards the 21 SMA, but this could confirm the pattern’s breakout and a signal for the bullish cycle to resume. […]
Retail investors maintain a bearish bias, while Wall Street analysts exhibit evenly balanced bullish and bearish sentiments. Christopher Vecchio, the head of Futures and Forex at Tastytrade.com, said investors turn away from gold because economic activity continues to support risky assets. On the other hand, Bannockburn Global Forex Managing Director Mark Chandler stated optimism about […]
Gold price is trading around $1,915 and in the 4 hour chart according to the Ichimoku cloud indicator remains in a bearish trend. Price remains below the 4 hour Kumo. However we observe a slight bullish momentum as price has broken above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). When […]
The price of gold edged higher and now is trading at 1,918 at the time of writing. DXY’s massive drop forced XAU/USD to approach and reach new highs. Technically, the price action signaled exhausted sellers and announced a potential leg higher. Still, it’s premature to talk about this scenario as the rate stands below strong […]
EUR/USD Higher timeframes The decline continues. Weekly supports (1.0862-64) have been tested, and bearish players have reentered the daily Ichimoku cloud. In the current situation, with further strengthening of bearish sentiment, the main objectives are to enter the bearish zone from the daily cloud (1.0806), and eliminate the daily (1.0780) and weekly (1.0789 – 1.0717) […]
Technical analysis: Gold has been trading downside in the background as I expected and I see potentiall for the further drop due to the lack for buyers. Due to the breakout of the multy day range and the lack of buyers in last 10 trading days, I see potential for the further drop towards lower […]
Early in the European session, gold was trading around 1,908.08, above the 21 SMA located at 1,907.29, and above the 1/8 Murray located at 1,906.25. The 1-hour chart shows that gold has been trading within a downtrend channel since June 23. Yesterday in the American session, the data was favorable for the US dollar, so […]
Gold price is making fresh new lows below $1,900. Gold price remains in a bearish trend according to the Ichimoku cloud indicator as price remains below the cloud. Cloud resistance is found at $1,927-40. As long as price is below this level, bears are in control of the trend. The Chikou span (blue line indicator) […]
