Gold price is trading inside the Daily Kumo (cloud). According to the Ichimoku cloud indicator trend is neutral. Yesterday price was trading most of the day below the cloud as Gold price was under pressure and was trading around $1,925 area. Bulls stepped in and pushed price above the tenkan-sen (Red line indicator). The kijun-sen […]
Euro continues to climb upwards thanks to the market’s reassessment of the ECB’s expected deposit rate ceiling and hawkish comments from the Governing Council officials. The European Central Bank has outpaced the Federal Reserve in the race to tighten financial conditions, and for now, the EUR/USD bulls are enjoying their success. In my view, it’s […]
Technical analysis: Gold has been trading upside yesterday and this morning and I found fake breakout of the consolidation in the background and strong reversal bar, which is strong sign for the further upside movement towards upside references. Due to the strong reversal bar yesterday in the mid and long term upside trend, I see […]
Potential for the further upside movement on the Gold The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Yen keeps sinking after Bank of Japan… April 26, 2024 Yen falls to fresh multi-decade lows after BoJ rate decision…Market Comment – Yen tumbles to fresh lows, dollar awaits… April 25, 2024 […]
Blue line- resistance Black line- support trend line Gold price is under pressure. Gold price got rejected two days ago at the blue resistance trend line and is now making new lows towards $1,900. In our previous posts we warned that Gold price was vulnerable to a move towards $1,900. Gold price not only got […]
The U.S. Federal Reserve implemented a “dovish” but, at the same time, most expected scenario at the end of the June meeting. The Fed did not raise the interest rate, leaving all monetary policy parameters as they were. The regulator tried to maintain a certain balance: after preserving the status quo, it voiced very hawkish […]
Technical analysis: Gold has been trading downside today and I found breakout of the tight triangle pattern to the downside, which is good sign for potential drop towards upside references. Due to the strong downside momentum and the breakout of the tight triangle pattern in the background, I see potential for the further drop towards […]
Traders also paid attention to macro statistics for the country. Thus, producer prices in the US rose by 2.8% yoy, with an expected increase of 2.9%, in monthly terms they decreased by 0.3%, with a forecast of a decline of 0.1%. At the close in the New York Stock Exchange, the Dow Jones fell 0.68%, […]
The price of gold turned to the upside again as the USD depreciated. DXY’s deeper drop should bring more buyers to the yellow metal. Technically, XAU/USD seems undecided as the traders are waiting for the FOMC before taking action. Gold’s rebound was natural after the US reported lower inflation in May compared to the previous […]
Gold price was under pressure yesterday. As we mentioned in previous posts, if price is below the tenkan-sen (red line indicator), Gold will be vulnerable to a move lower towards the lower cloud boundary. Yesterday Gold price touched the lower cloud boundary at $1,942. Today price is bouncing off the cloud boundary. Price is still […]
According to the World Gold Council, in addition to Turkey, another seller of gold last month was the Central Bank of Uzbekistan. Its reserves decreased by 11 tons in May, with an annual sales volume of 27 tons. Furthermore, the People’s Bank of China became the largest buyer of gold in May, purchasing an additional […]
The latest data from the World Gold Council (WGC) shows that the Central Bank of Turkey sold 63 tons of gold last month. This was already a small amount compared to the sales of 100 tons in April and March. According to the official data, Turkey’s gold reserves decreased by 159 tons to 428 tons […]
Gold continues to consolidate ahead of the announcement of the results of the June FOMC meeting. The pause in the monetary policy tightening gives optimism to XAU/USD bulls. However, the fact that the federal funds rate will remain at elevated levels for a long time plunges buyers into deep sadness. The information from the physical […]
Technical analysis: Gold has been trading sideways at the price of $1.945 and there is potential for rejection or the breakout of the support. Due to the sideways market and support at the price of $1.940 on test, pay attention on the price action around this key support. In case of the downside breakout of […]
This week, several of the largest central banks will make decisions on monetary policy following the recent hawkish surprises from the RBA and the Bank of Canada. The Fed, ECB, Bank of Japan, and the People’s Bank of China could trigger significant movements in the currency market. The Fed will be the first to announce […]
Gold price is still in a neutral trend according to the Ichimoku cloud indicator. Price remains inside the Daily Kumo (cloud). Price is trading marginally below the tenkan-sen (red line indicator). The kijun-sen (yellow line indicator) provides resistance at $1,989. Trend will change to bullish if price breaks out and above the cloud. Cloud resistance […]
When the bulls leave the market, and the forecasts from OPEC and IEA are sure to show a reduction in global demand, no production cuts from Saudi Arabia can provide support for oil prices. The North Sea blend has been bearish for the third consecutive week. The market is currently dominated by the bears. Goldman […]
Technical analysis: Gold has been trading inside of the multi day triangle pattern but I see potential for the upside breakout. In the background, Gold already broke downside channel, which is good sign for the further higher prices. Due to the strong mid and long term upside trend and the potential breakout of the triangle […]
Gold is currently testing support near 1,939, which isn’t a big surprise after trying to eclipse the all-time high near 2,070. However, this is not the last time gold has tried to break above the all-time high level and the next attempt could very well be successful. In that case, the next stop should be […]
At the close of the New York Stock Exchange, the Dow Jones rose 0.56% to a one-month high, the S&P 500 rose 0.93% and the NASDAQ Composite rose 1.53%. This week on Wednesday, the publication of the results of the meeting of the Federal Reserve System (FRS) is expected. About 74.7 percent of those surveyed […]
Overview : The GBP/USD pair will continue rising from the level of 1.2377 today. So, the support is found at the level of 1.2377, which represents the 23.6% Fibonacci retracement level in the H1 time frame. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. Therefore, the GBP/USD […]
Upside continuation on the Gold in the play… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Yen keeps sinking after Bank of Japan… April 26, 2024 Yen falls to fresh multi-decade lows after BoJ rate decision…Market Comment – Yen tumbles to fresh lows, dollar awaits… April 25, 2024 Yen […]
Blue line- resistance Black line- support Gold price is under pressure. Bulls managed to briefly push price above the blue downward sloping resistance trend line, but they were not strong enough to break it. Price got rejected once again at the blue resistance trend line, confirming its importance. Gold price is also testing the medium-term […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, USD/JPY and Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Trading Signals for GOLD (XAU/USD) for April 26-29, 2024:… April 26, 2024 XAU/USD is trading around 2,345 with a bullish but showing…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
Anticipating that the Federal Reserve (Fed) will not raise the base interest rate on June 14, Wednesday, market participants have been raising gold prices over the past two weeks. The weekly gold survey by Wall Street analysts and Main Street investors indicates that both groups remain optimistic about the prices of the precious metal for […]
Technical analysis: Gold has been trading upside in the background and I found the mark up phase on Friday and breakout of the downside channel this morning, which is good sign for the further upside continuation. Due to the strong mid and long term upside trend with the breakout of the downside channel this morning, […]
EUR/USD The euro is approaching the support level at 1.0738. The Marlin oscillator has backed off from attacking the zero line and has turned around as it approaches it. On the euro’s path towards the target at 1.0600, there are at least three strong support levels: the nearest ones are at 1.0738, 1.0716, and 1.0692. […]
Blue line- resistance Black line- support Gold price is trading around $1,955. Price remains above the key black upward sloping medium-term support trend line but has also started forming lower highs connected with the blue downward sloping trend line. Bulls need to push price above the blue downward sloping resistance trend line. This resistance is […]
Upside continuation in the play on Gold… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Yen keeps sinking after Bank of Japan… April 26, 2024 Yen falls to fresh multi-decade lows after BoJ rate decision…Market Comment – Yen tumbles to fresh lows, dollar awaits… April 25, 2024 Yen falls […]
US stock index futures traded slightly higher following yesterday’s rally. The US dollar weakened against risky assets amid rising expectations that the Federal Reserve was nearing the end of its rate hike cycle. S&P 500 futures edged up by 0.1%, while the NASDAQ gained around 0.3%. In premarket trading, shares of Tesla Inc. jumped by […]
