Blue lines- Fibonacci retracement levels Red line- resistance trend line Gold price is trading just above $1,910. Price made a low at $1,909 where we find the 61.8% Fibonacci retracement of the upward movement from $1,804. Short-term trend remains bearish as Gold continues forming lower lows and lower highs. Gold price is bouncing off the […]
Early in the American session, Gold (XAU/USD) is trading around 1,920 above the 21 SMA within a downtrend channel formed since June 14. On the 1-hour chart, we can see that on June 22, gold reached the extremely oversold zone, which is likely to be giving a positive signal. So, the price could reach the […]
Technical analysis: Gold has been trading upside this morning but I found key pivot zone at the price of $1.920-$1.924 on the test. In case of the rejection of the key resistance zone, I see potential for the downside movement towards $1.900 In case of the upside breakout of the zone at $1.924, there is […]
EUR/USD Higher timeframes Bearish players not only once again halted the opponent’s progress but also managed to implement a significant decline, breaking the monthly level of 1.0901 and testing the area of 1.0866-62 (daily and weekly levels). Much depends on the outcome of this interaction. A return of the short-term trends of the day and […]
Gold price is trading around $1,913. Gold trend is bearish in the daily chart according to the Ichimoku cloud indicator. This bearish signal was given on Tuesday June 20th when the daily close was below the Kumo (cloud). In previous posts we warned that Gold price was vulnerable to a move lower as bulls were […]
In last week’s monetary policy report, Fed policymakers acknowledged that inflation is still too high, and there are no clear signs of easing in the service sector. Recognizing that the prospects for monetary policy remain largely uncertain, the leaders of the U.S. central bank nevertheless kept its parameters unchanged last Wednesday but acknowledged the need […]
Technical analysis: Gold has been trading downside as I expected and I found re-break of the symmetrical triangle pattern in the background, which is good sign for the further downside movement. Due to the breakout of the upside channel and tight triangle in the background, I see potential for the further drop towards lower references. […]
The US dollar has been trading higher for the fourth consecutive session, but its strength is limited. Overall, markets are treading water in anticipation of Fed Chair Jerome Powell’s testimony before the US House of Representatives, just a week after the FOMC meeting. Until the reason for this haste becomes clear, significant movements are unlikely. […]
Early in the American session, Gold (XAU/USD) is trading around 1,929.75, below the 21 SMA and below the 200 EMA. We can see that gold is trading within a downtrend channel formed from June, 15. If gold trades below 1,935, it is likely to reach the bottom of the downtrend channel around 1,920. In the […]
Let’s take a look at the technical picture of GBP/USD, Gold, Oil and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Bitcoin holds above $70,000 as halving event looms – […]
According to one market strategist from Crescat Capital, Tavi Costa, volatility has increased in the markets as the Federal Reserve maintains a hawkish stance and continues to push the economy towards a recession. The cost of gold compared to stocks and bonds makes it an ideal portfolio diversification tool. Costa says gold prices could rise […]
Central banks of many countries around the world appear to be preparing for a new monetary regime. Reportedly, in the first quarter of 2023, they added 228 tonnes to their gold reserves, following last year’s record-breaking purchase of 1,136 tonnes. This kept prices above $1,900 despite the hawkish position of the Federal Reserve. Over the […]
The fewer clouds gather in the sky of the U.S. economy, the worse it is for gold. The precious metal continues to trade in a narrow range and awaits cues from Jerome Powell. Gold is ready to react sensitively to the words of the Fed Chairman, but in reality, monetary policy will depend on incoming […]
Technical analysis: Gold has been trading downside and I found re-break of the triangle pattern on the daily time-frame, which is good sign for the further downside movement. Due to the breakout of the triangle pattern and the downside momentum, I see potential for the further drop towards lower references. Downside objectives are set at […]
At the close on the New York Stock Exchange, the Dow Jones fell 0.72%, the S&P 500 index fell 0.47%, and the NASDAQ Composite index fell 0.16%. On Tuesday, the US statistics were also published. The number of new homes in the country, the construction of which was started in May, increased immediately by 21.7% […]
Early in the American session, gold (XAU/USD) is trading around 1,932.18, bouncing above 1,929 and approaching oversold levels on the 1-hour chart. We can see that since June 15, gold has been trading within a downtrend channel that was broken and now could be going through a technical correction to resume its bearish cycle. The […]
Technical analysis: Gold has been trading in the sideways range at the price of $1.950 but I see potential for the downside movement towards support of the trading range. Due to the weak demand after the mark up phase from lat week and rejection of the supply trend line, I see potential for the downside […]
Monday morning saw the number one cryptocurrency start with a slight upward trend, and the momentum continued throughout the day. According to CoinMarketCap, Bitcoin’s maximum price reached $26,675 in the past 24 hours, with the minimum being $26,312. The past week has proven to be rather successful for the pioneer cryptocurrency. From Thursday evening, Bitcoin […]
Have interest rates reached a level that slows down inflation and economic growth? Investors believe that in the United States—yes, but in Europe—no. They do not trust the Federal Reserve with its plan to raise borrowing costs by 50 basis points to 5.75%. However, they trust the European Central Bank (ECB) with its +50 basis […]
World stock indices took a slight dip in Monday’s trading, showing caution following last week’s cooling of the robust rally in the US stock market. The chemical and construction sectors suffered significant losses, while banking sector stocks showed strength. Among major market participants, Sartorius AG plummeted by 15% after projecting lower profits. In Asia, the […]
Let’s take a look at the technical picture of USD/JPY, EUR/USD, GBP/USD, USD/CAD, USD/CHF & Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Trading Signals for GOLD (XAU/USD) for April 19-22, 2024:… April 19, 2024 The weekly chart shows that gold maintains bullish momentum and…Forecast for GBP/USD pair on April 19, […]
While weak bullish sentiments are observed in the market, gold prices are unable to rise to $2,000 per ounce. According to the weekly gold survey among analysts from Wall Street and retail investors from Main Street, there is little confidence in the yellow metal. Currently, traders and investors are reevaluating their stance as the Federal […]
Downside movement in the play on Gold and EUR… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 18, 2024 April 18, 2024 Potential for the further drop on BTCUSDThe material has been…Market Comment – US dollar on the back foot as nervousness… April 18, 2024 Euro edges […]
Global stock markets inched higher over the weekend as the Fed kept the interest rate unchanged at 5.25% and then hinted at potential rate hikes by the end of the year. The dual stance seems to be a verbal intervention, indicating the possibility of more drastic measures to prevent a market collapse or unjustified growth. […]
Technical analysis: Gold has been trading in the sideways range at the price of $1.953 but I see potential for the downside movement due to no fallow trought on Friday. Due to the rejection of the mini supply trend line in the background, I see potential for the further downside movement towards downside references. Downside […]
Crypto Industry News: The market is hoping that the BlackRock ETF will help cryptocurrencies. Is it really a signal of mass adoption coming? Finbold points out that as recently as 5 years ago, BlackRock CEO Larry Fink said that “fund clients are not interested” in cryptocurrencies. He accurately said that the number of interested is […]
From the 4-hour chart of the gold commodity asset, we can draw clues based on the CCI indicator which is still moving below the 100 level and the gold price movement that reacts when it touches the area level of its 4 hour bearish Fair Value Gap at 1974,52-1966,76, then a hint can be taken […]
Gold is trading around 1,954.93 below the 21 SMA and above the 7/8 Murray. In the daily chart, we can see that gold is trading within a downtrend channel formed since May 18. On June 15, XAU/USD reached its lowest level in three months below 1,930, but rebounded strongly, giving it an opportunity for a […]
Gold is now ready to challenge the all-time high near 2,070 again. After a correction to test support at 1,935, we look for gold to re-test the all-time high near 2,70. A break above the all-time high will call for a continuation higher to 2,400 and likely 2,700. For now, support is seen in the […]
The wave analysis of the 4-hour chart for the euro/dollar pair continues to be non-standard but understandable. The deviation of quotes from previously reached lows continues, presumably within wave b. The entire ascending trend segment, which started on March 15th, may adopt a more complex structure, but at the moment, I expect the formation of […]
