EUR/USD Higher timeframes By the end of the week, bulls show activity, managing to rise towards the resistance of the weekly medium-term trend (1.0789). The next important step in this direction is consolidation in the daily cloud (1.0806) and testing the resistance of the weekly short-term trend (1.0866). The immediate support level is currently held […]
Technical analysis: Gold has been trading upside as I expected and the market reached first upside objective at price of $1.966. Anyway, I see potentia lfor the further upside continuation towards next reference points. Due to the mid-long term upside trends and strong momentum to the upside in the background, I see potential for the […]
US initial jobless claims for the week ending June 3 increased by 28,000 from the previous week’s revised figure to 261,000. The value is the highest since October 2021. According to analysts, the increase in the indicator may indicate a deterioration in the situation in the labor market, which may be a signal to the […]
Black line- support trend line Gold price is trading around $1,966 erasing yesterday’s losses and trading above yesterday’s highs. On a technical perspective price has successfully tested support and is showing reversal signs. According to the Ichimoku cloud in the daily chart, trend remains neutral. Price is above the tenkan-sen (red line indicator) and this […]
The price of gold rallied in the short term as the USD depreciated. It’s trading at 1,967 at the time of writing. DXY’s deeper drop should weaken the greenback, this scenario brings more buyers on XAU/USD. The yellow metal exploded after the US Unemployment Claims indicator was reported at 261K versus 236K expected and compared […]
Early in the American session, gold is trading around 1,957.73 around the 200 EMA located at 1958 and above the 21 SMA. The US data was disappointing that fueled a gold rally and it is likely to continue to rise until the price reaches the top of the downtrend channel around 1,967. In the next […]
Potential for the upside movement on the Gold and GBP 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, […]
Despite the fact that gold is trading below $2,000 per ounce, investor sentiment continues to improve, a recent report by the World Gold Council (WGC) noted. The WGC’s report for May indicates that 19 tonnes of gold valued at $1.7 billion was invested into gold-back exchange-traded funds (ETFs). This is the third monthly increase in […]
Technical analysis: Gold has been trading downside yesterday from the mid day but the Gold found support at the price of $1.940 and I see potential for the rejection and upside movement. Due to the mid-long term upside trends and the rejection of the support cluster, I see potential for the further upside movement towards […]
The price of gold crashed in the last hours and now is trading at 1,956 at the time of writing far below today’s high of 1,970. Technically, the price action signaled that the upside movement could be over and that the sellers could take the lead again. DXY’s rally forced XAU/USD to come back down. […]
Black line- support trend line According to the Ichimoku cloud indicator, Daily trend is Gold is neutral as price remains inside the Kumo (cloud). Price is trading now above the tenkan-sen (Red line indicator), but below the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is below the candlestick pattern (bearish). At the […]
Potential for the rally on GBP and 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 […]
Technical analysis: Gold has been trading downside this morning and I found the key support cluster at the price of $1.954 on the test. Due to the mid-long term upside trend and the test of the range support cluster, I see potential for the further rally towards upside reference. Upside objective is set at the […]
With the appearance of Deviation between price movement of Silver commodity asset with osMA indicator on its 4 hour chart, then it can be confirmed that if in the neareast future Silver will go down up to the level 23,204, and if this level successfully broken below, then Silver has the opportunity to continue its […]
As of 17.20 GMT + 2, the Dow Jones Industrial Index rose by a symbolic 0.02% to 33570.2 points, the NASDAQ high-tech index decreased by 0.01% to 13229.55 points, the S&P 500 broad market index increased by 0 .09%, up to 4278 points. Minutes earlier, all three indices showed weak growth, and before that they […]
Early in the American session, Gold (XAU/USD) was trading around 1,961.80, below the 21 SMA and below the 200 EMA. We can see that there is a strong consolidation below 1,968, and it is expected that in the next few hours a technical correction could happen. Yesterday, gold left a gap around 1,945 after publication […]
The price of gold retreated a little in the short term after reaching 1,966 today’s high. Now, it’s trading at 1,960 at the time of writing. Technically, the upside pressure remains high, so a larger rebound is still possible. Fundamentally, XAU/USD rallied in the short term as the US ISM Services PMI, Factory Orders, and […]
Black line- support trend line Gold price is trading around $1,960. Gold’s decline stopped at $1,931 where we find the upward sloping support trend line since last year. As we mentioned in previous posts, this support trend line is very important. Yesterday price tested this support trend line again and is bouncing higher once again. […]
JPMorgan listed signs of emerging de-dollarization, citing the fastest tightening of the Fed’s monetary policy as the reason why BRICS countries (Brazil, Russia, India, China, and South Africa) are slowly moving away from dollar. Strategists Mira Chandan and Octavia Popescu highlighted the dipping exchange rate of dollar, which was due to the decline in exports. […]
Gold on the strong bull momentum…. 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 to […]
Technical analysis: Gold has been trading upside as I expected. The market reached first upside objective at $1.960 and I see potential for the further rally towards next upside objectives. Due to the mid-long term upside trend and the shallow pullback, I see potential for the further rally towards upside references. Next upside objectives are […]
Overview: The GBP/USD pair broke resistance which turned to strong support at the level of 1.2377 yesterday. The level of 1.2377 coincides with a golden ratio (23.6% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 55. The RSI is still […]
The euro/dollar pair declined in the first half of Monday due to the inertia of Friday’s trading, when Nonfarm Payrolls strengthened the position of the American currency. And although the May labor market report in the USA was quite contradictory, the market interpreted it in favor of the greenback. Despite the actual increase in unemployment […]
Early in the American session, Gold (XAU/USD) is trading around the 7/8 Murray line located at 1,937. We can see that gold reached a low at about 1,938.19. Since then, we foresee a strong technical bounce ahead. Murray’s 7/8 line has turned out to be a strong rebound point. In the next few hours, gold […]
Black line- support trend line Gold price is trading once again very close to the upward sloping black support trend line. Price is inside the Kumo (cloud) suggesting that trend is neutral. Price is below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This suggests that price remains vulnerable to more downside. […]
EUR/USD Higher timeframes Last week, the pair closed with a candle of uncertainty, returning to the area of attraction and influence of the daily short-term trend (1.0719) and the final level of the weekly golden cross of the Ichimoku, which is currently at 1.0717. Consolidation below these levels and a breakdown of the zone of […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD, Gold and Bitcoin. 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…Bitcoin slips as markets pare back Fed rate cuts […]
Despite Friday’s decline in precious metal prices, which followed the release of US labor market news, Wall Street and Main Street investors remain bullish on gold, as the latest employment report indicated a 339,000 increase in nonfarm payroll jobs for May, well above the estimate of 180,000. Unemployment also rose, leading to a significant rise […]
Technical analysis: Gold has been trading downside on Friday and today but I see potential for the upside movement towards Pitchfork median line. Due to the mid and long term upside trend and the oversold condition, I see potential for the upside movement towards the mean. Upside objective is set at the price of $1.960-$1.965 […]
Black line- support trend line Gold is currently trading around $1,953 after reaching as high as $1,982 yesterday. Price remains inside the Daily Kumo (cloud). Trend remains neutral according to the Ichimoku cloud indicator. Price continues to respect the black upward sloping support trend line. The trend line provides support at $1,947. A break below […]
