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 […]
Red lines- bearish channel Gold price is trading around $1,958. Short-term trend remains bearish as price continues to trade inside the red downward sloping channel. Price continues to make lower lows and lower highs. Recently price got rejected at the upper channel boundary (resistance) of $1,984. Gold price is very close to breaking below recent […]
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 […]
According to the National Bank of Poland, the country’s gold reserves increased to 7.828 million troy ounces (243.5 metric tons) last month. In April, the central bank acquired 14.8 tons of gold, marking the largest increase since June 2019, when Poland’s reserves grew by 94.9 tons. In April, the value of gold, including gold deposits […]
Over the past two weeks, the cryptocurrency market has significantly slowed down compared to the bullish March and mixed April. Trading volumes of major crypto assets and the number of daily users have decreased to local lows. Simultaneously with this process, we have witnessed the beginning of a prolonged consolidation movement of BTC/USD within the […]
Technical analysis: Gold has been trading downside this morning but I found key support at the $1.955 on the test. Due to the strong upside movement and breakout of downside channel in the background and the bullish trend, I see potential for the further upside movement towards upside references. Upside objectives are set at $1.985 […]
Traders are monitoring the development of the situation around the country’s public debt. The White House and Republicans, who control the House of Representatives in Congress, continue negotiations to raise its maximum ceiling. Speaker of the US House of Representatives Kevin McCarthy said earlier that he would meet with President Joe Biden on Monday for […]
On the daily chart of gold commodity asset It can be seen that this commodity asset is being pressured down where sellers are currently more dominant. The several things that confirm the weakening of this commodity asset are: 1. Price movement which moves inside Pitchfork channel that dives down. 2. Price movement which moves below […]
Gold is falling against the backdrop of the strengthening US dollar. One would expect even further decline, but prolonged negotiations on the US debt limit and a more relaxed rhetoric from the Federal Reserve System are very opportune for the precious metal as a safe-haven asset. By the time of writing, gold futures on COMEX […]
Gold price is trading around $1,974 after making a low last week at $1,951. Price touched the Kumo (cloud) support as expected and is now bouncing higher. A daily close inside the cloud would be a sign of weakness, Price remains below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). According to […]
Last week, gold dropped significantly below $2,000 per ounce. Wall Street analysts are concerned that the sell-off may not be over. Bearish sentiments have also significantly intensified on Main Street, but bulls still led in survey forecasts. The past week was the worst for gold since February. One of the major drivers of the decline […]
Markets continue to focus on the negotiations over the US debt ceiling. However, upcoming minutes from the latest Federal Reserve meeting will also take up attention. Traders will be interested in the central bank’s view on inflation dynamics, incoming economic data, and the banking crisis. The prospects of interest rates is also important as there […]
President Joe Biden and Republican House Speaker Kevin McCarthy are set to meet on Monday to continue the negotiations aimed at preventing a catastrophic US default. In recent days, conflicting reports have emerged, saying that there is significant progress in the discussions, followed by impasses. But what is evident is that both parties are still […]
Upside potential 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 new […]
Technical analysis: Gold has been trading upside on Friday and I found breakout of the downside channel, which is good sign for the further upside movement. Due to the breakout of the downside channel in the background and the strong upside cycle on short-mid term, I see potential for the further growth towards upside references. […]
If we pay attention on the weekly chart of Silver commodity asset, currently there is a few interesting things: 1. There is a Double Top pattern. 2. It’s been 2 weeks that the closing price of Silver price movement below EMA 10. 3. The appearance of deviation beteen weekly price movement of Silver with osMA […]
Early in the European session, Gold (XAU/USD) is trading around 1,980.42 above the 21 SMA located at 1,975 and below the 200 EMA at 1,993. The 4-hour chart shows that the XAU/USD pair made a strong technical rebound after reaching the low of around 1,951. It is likely that gold could continue to rise, but […]
In early trades on Friday, Bitcoin was consolidating. It was at the level of $26,836 as of the time of writing. According to data from CoinMarketCap, a leading platform for tracking digital asset quotes, BTC price fluctuated between a low of $26,415 and a high of $26,466 over the past 24 hours. The cryptocurrency market […]
Gold price is challenging the Daily Kumo (cloud) support. Price is trading inside the Kumo now. A daily close inside it will change trend from bullish to neutral. The Chikou span (black line indicator) is trading below the candlestick pattern (bearish). Bulls need to step in and push price above the cloud in order to […]
Technical analysis: Gold has been trading downside yesterday but I found test and reject of the support cluster at the price of $1.950, which is a good sign for the further upside rotation. Due to the upside cycle and the test-reject of the support cluster in the background, I see potential for the further rally […]
Early in the European session, Gold (XAU/USD) is trading around 1,958.26. In the chart above, we notice a slight technical rebound after reaching a low of 1,951.82. This level was last seen on April 3 and represents a strong bottom. So, the metal is expected to continue its bounce in the next few hours and […]
US initial jobless claims for the week ending May 13 fell by 22,000 from the previous week to 242,000. Analysts, in turn, were waiting for the indicator to decrease to 254 thousand. Thus, the decrease in applications may signal a positive direction for the US dollar. At the close in the New York Stock Exchange, […]
Green lines- bearish RSI divergence Blue rectangle- support (broken) Yellow rectangles- major tops with same overbought RSI conditions Silver price is making new lower lows today around $23.36. In previous posts we warned that Silver was vulnerable to a decline towards $24.50 and lower when price was getting rejected at $26. Price has broken below […]
Technical analysis: Gold has been trading downside this morning but I saw that key support cluster at $1.970 is on the test and that there is potential for the rally. Due to the upside cycle in the background and bullish momentum divergence, I see potential for the upside movement towards upside references. Upside objectives are […]
Bitcoin is approaching the end of the trading week near the $27k level. The cryptocurrency’s quotes have not changed significantly over the past five days, indicating a period of consolidation and reaching a strong support level near the $27k mark. Despite the slowdown in the rate of Bitcoin’s price decline, the bearish positions remain strong. […]
Let’s take a look at the technical picture of AUD/USD, Oil, Gold and SP500 The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for EUR/USD on April 8, 2024 April 8, 2024 EUR/USD:Friday’s U.S. employment data came out excellent, providing traders with…Forecast for GBP/USD on April 8, 2024 April 8, 2024 GBP/USD:Last […]
Gold has been declining since May 4. But looking at the percentage decrease in the metal and the percentage increase in dollar, it is clear that demand for dollar greatly affects gold’s dynamics. The main reason why dollar is going up and gold is going down is the recent comments of Fed representatives. It reinforced […]
The American financial market received a noticeable surge of optimism on Wednesday amid ongoing hopes that the resumption of negotiations between Joe Biden and Congressional leaders from the Republican and Democratic parties would lead to a resolution of the government’s upcoming default issue. Against this backdrop, local stock indices gained significantly, and shares of the […]
Red line -resistance Green line- support (broken) Gold price is trading around $1,980. In our previous analysis we noted the triangle pattern Gold was in and that a break below the green support trend line would lead to a decline at least towards $1,970-77 area. Today’s low was at $1,974. Short-term trend is bearish as […]
The price of Gold crashed in the short term but now is almost to hit a major support zone. It remains to see how it reacts after such an impressive drop. It’s trading at 1,980 and remains very heavy in the short term as the USD is strongly bullish. Fundamentally, XAU/USD extended its sell-off after […]
