At the close in the New York Stock Exchange, the Dow Jones rose 1.00%, the S&P 500 index rose 1.30%, the NASDAQ Composite index rose 2.19%. Incomes of the US population in April were expected to grow by 0.4% compared to March, spending increased by 0.8% against the forecast of 0.4%. And the consumer sentiment […]
The price of gold dropped again after reaching 1,957 today’s high. Now, it’s trading at 1,942 at the time of writing and it seems determined to approach and reach new lows. The bias remains bearish despite temporary rebounds. DXY’s further growth forced XAU/USD to turn to the downside again Fundamentally, the US data came in […]
If the dynamics of Bitcoin in the first quarter were exciting to watch, then in April, it lost some of its shine, and in May, it turned into a boring asset. The leader of the cryptocurrency sector is lagging behind the technology companies’ index. Nasdaq Composite is growing due to the success in implementing artificial […]
Gold price is trading around $1,952. In Ichimoku cloud terms, trend in the 4 hour chart remains bearish as price is still below the Kumo (cloud). Price is bouncing from the $1,936. Gold price has broken above the tenkan-sen (Red line indicator) and if it also breaks above the kijun-sen (yellow line indicator), we could […]
Futures on US stock indices rose on Friday amid optimism and spreading rumors that a deal to raise the US debt ceiling is very close. S&P 500 futures have returned to the green zone and show a 0.2% increase, while the NASDAQ index has also gained about 0.2%. Treasury bond yields remained at a two-month […]
Potential for the reaction up 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, […]
Silver has now tested support at 23.00 and could move a bit lower to test 22.66, but all requirements have now been fulfilled and silver could complete the correction in wave ii anytime now for the next impulsive rally through minor resistance at 24.21 towards 26.13 on the way higher to strong resistance near 30.00. […]
Early in the European session, gold (XAU/USD) is trading around 1,947, rebounding after reaching the 7/8 Murray zone around 1,937. We can see on the 4-hour chart that gold continues to move within the downtrend channel but could find strong resistance around the 21 SMA located at 1,961 if it continues to rise. Gold is […]
The price of gold crashed after the US economic data and now is trading at 1,947 right above 1,939 today’s low. You already know from my analyses that the downside pressure remains high after yesterday’s false breakout through 1,984. Earlier today, the US Prelim GDP, Unemployment Claims, and Prelim GDP price Index came in better […]
Our main forecast is based on the expectation of a resumption of growth for XAU/USD. In the current situation of uncertainty, many economists predict an increase in demand for safe-haven assets, particularly gold. From a technical perspective, XAU/USD is developing a short-term downward dynamics towards key support levels: 1905.00 (144 EMA on the daily chart), […]
The situation with the U.S. debt ceiling is at the center of market participants’ attention. Republicans insist on significant budget cuts, while Democrats, along with U.S. President Joe Biden, demand an increase in the limit without any conditions. As recently stated by U.S. Treasury Secretary Janet Yellen, if Congress fails to raise the debt ceiling […]
Violet lines- Fibonacci retracement levels Silver is under pressure for a third week. Price is now trading at $22.78. Short-term trend remains bearish as price continues making lower lows and lower highs. Price has just broken below the 50% Fibonacci retracement which was our second target. The RSI has still not reached the oversold area […]
Upside in play 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 Yen falls to […]
The lingering uncertainty and concerns associated with debt ceiling negotiations remain in limbo. Over the past three consecutive weeks, the U.S. dollar has continued to rise. In early May, the dollar index was trading at the level of 101, and currently, it is fixed at 104.04. Over the past two days, the dollar has risen […]
Over the past one and a half weeks, Bitcoin has been trading within the range of $26.6k to $27.5k, where large order blocks were concentrated. Due to the decrease in trading activity in the crypto market and the improved situation in the stock market, the price of BTC failed to break out of this range. […]
Technical analysis: Gold has been trading downside yesterday but this morning I found test and reject of the key support at the price of $1.955, which is good for the potential upside rotation towards upside reference. Due to the rejection of the key support cluster and the mid-long term upside trend, I see potential for […]
Crypto Industry News: Christy Goldsmith Romero, one of the five commissioners of the U.S. Commodities and Futures Trading Commission (CFTC), has stated that there is no way to oversee all fraud in the crypto market. Romero believes that the sheer number of scams that exist in the crypto space makes it difficult for the federal […]
Early in the European session, gold (XAU/USD) is trading around 1,957.91 within a symmetrical triangle and below the 21 SMA and 200 EMA. Yesterday in the American session, the instrument reached a high of 1,986, the area of strong resistance and level that coincided with the top of the downtrend channel and the 200 EMA. […]
The price of gold turned to the downside after reaching 1,985 today’s high. Now, it’s trading at 1,963 at the time of writing. As you already know from yesterday’s analysis, XAU/USD is moving in a range in the short term, so only a valid breakout from this formation should bring new opportunities. Today, the most […]
Gold is trading around $1,980 with a short-term bullish momentum as price is trading above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). In Ichimoku cloud terms in the 4 hour chart, trend remains bearish as price is still below the Kumo (cloud). The Chikou span (black line indicator) is trading below […]
Gold refuses to fall, despite the swift rally in Treasury bond yields and the strengthening of the U.S. dollar. Contrary to the hawkish comments from FOMC officials, who do not rule out raising the federal funds rate above 6%. Contrary to the surge in U.S. business activity in May to a 13-month high, indicating economic […]
Futures on US stock indexes continued to drop, while short-term Treasury bonds rose. S&P500 futures declined by 0.4%, and the high-tech NASDAQ lost about 0.5%. The industrial Dow Jones dropped by 0.2%. On Wednesday, a batch of bad news hit the global markets, resulting in losses for European stocks, which were the largest in the […]
Global financial markets and leading instruments froze in anxious anticipation of a resolution to the U.S. debt situation. The S&P 500 index maintains its position near the $4,100 level, while Bitcoin and gold are moving within narrow ranges without any significant price movements. However, in the crypto market, there is a rule that states a […]
Upside on 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 falls to […]
Latest market signals show a possible surge in dollar demand in the near future. As such, gold, which traded yesterday just a few points away from last week’s low, showed a pullback, leaving a target at the level of 1951 Euro also formed a double bottom yesterday, indicating that sooner or later, market players will […]
Technical analysis: Gold has been trading upside yesterday and I found breakout of the mini downside channel in the background, which is good sign for the further rally. Due to the strong upside cycle this year on Gold and breakout of the downside channels in the background, I see potential for the further rally towards […]
Early in the European session, Gold (XAU/USD) is trading around 1,973.51, above the 21 SMA, and within a downtrend channel formed since early May. On the 4-hour chart, we can see that since May 15, gold has been forming a symmetrical triangle pattern. Gold has been testing the top of this pattern in recent hours. […]
At the close of the New York Stock Exchange, the Dow Jones fell 0.69%, the S&P 500 fell 1.12%, and the NASDAQ Composite fell 1.26%. Traders continue to monitor the situation around the US government debt. President Joe Biden met with House Speaker Kevin McCarthy on Monday. According to the President, the meeting reaffirmed that […]
Early in the American session, gold is trading around 1,960.72, below the 21 SMA, and 200 EMA. We can see that the XAU/USD pair is located inside a downtrend channel formed since early May. Now, the price is approaching a key support level at about 1,950. In the next few hours, we could expect a […]
Green lines- bearish RSI divergence Blue rectangle- support (broken) Yellow rectangles- major tops with same overbought RSI conditions Silver price is under pressure with price approaching our target of $22.90. Price remains in a bearish short-term trend making lower lows and lower highs. Silver has made a low today around $23.06, only 16 cents away […]
