A voice crying out in the wilderness. That’s how one can characterize JP Morgan’s statement that the markets are correct about lowering the federal funds rate in 2023. They argue that the U.S. economy is rapidly cooling, and recession is inevitable. To mitigate its negative impact, the Federal Reserve will be forced to loosen monetary […]
EUR/USD Higher timeframes The pair continues to remain in the lower part of the current attraction and influence zone of 1.0864 – 1.0901 (weekly short-term trend + monthly medium-term trend). If the low (1.0846) is updated, the decline may continue, with the daily cloud (1.0814 – 1.0775) and monthly support (1.0763) as its targets. However, […]
Upside potential on the Gold today… 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 […]
If gold is insurance against inflation, why didn’t it shine in 2022 when prices were sky-high? Why did it soar to the area of record highs in 2023 when inflation began to slow down? If precious metals are the best investment option during a default, why does it fall as it approaches date X? The […]
Technical analysis: Gold has been trading downside yesterday but I found bullish divergence in the momentum and rejection of the lower trend-line of the downside channel. Due to the rejection of the trend-line support and upside trend, I see potential for the further rally towards upside references. Upside objectives are set at the price of […]
Early in the European session, Gold (XAU/USD) is trading around 1,992.42 below the 200 EMA and below the 21 SMA. On the chart above, we can see that gold is trading within a bearish trend channel formed since the beginning of May. Yesterday in the American session, gold reached the low of 1,986.69. Since then, […]
Why has the EUR/USD pair been growing for half a year? The U.S. dollar, after reaching a 20-year high in the fall of 2022, seemed overly expensive. The euro, with its unfulfilled recession in the Eurozone and the energy crisis fading into the background, on the contrary, seemed excessively cheap. The delay in the ECB’s […]
Red line- upper triangle boundary – resistance Green line- support trend line Gold price is trading around $2,008. Price has formed a triangle pattern in the near term with price so far respecting the triangle base support at $2,000. Price has been forming lower highs so far creating the upper triangle boundary. Resistance is now […]
The closer the U.S. default, the more often the question arises: where to invest money? The Japanese yen is one of the most interesting options. Despite the weak economy, the new BoJ head Kazuo Ueda intends to stick to an ultra-loose monetary policy. Despite the widening yield differential between U.S. and Japanese bonds, which boosts […]
EUR/USD Higher timeframes Over the past day, the pair remained in the zone of attraction of the weekly short-term trend (1.0864). The main attraction and influence on the market in the current situation are exerted by two strong levels: 1.0864 and 1.0901 (weekly short-term trend + monthly medium-term trend), so now a slowdown or development […]
Will oil recover after an extremely weak start to the year? This question is stirring the financial markets. At the outset of 2023, oil was given numerous advances associated with the growth of global demand led by China. An expected reduction in production by OPEC+ in general and Russia in particular, also contributed to optimistic […]
Since the start of the year, gold has already increased by 10%. The stellar rally of gold has pushed prices as far as they can go this year. After testing record highs just over a week ago, gold is trading in a broad range between $1,900 and $2,100. The expectation that the Federal Reserve’s rate […]
Potential for further upside movement on the Gold and downside on the USDJPY 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 […]
Technical analysis: Gold has been trading downside this morning and I see testing of the key support cluster at the price of $2.000. Pay attention on the price action around key support cluster at $2.000 in order to confirm further direction. In case of the rejection of the support at $2.000, I see potential for […]
Blue lines- bullish channel Black lines- bearish RSI divergence Gold price is trading around $2,017 as price starts the week on a positive note. Price remains above the key short-term support of $1,977. In previous posts last week we warned traders about the increased risks of a pull back. The RSI has provided bearish divergence […]
The price of gold is moving sideways in the short term and the trajectory seems undecided. It’s trading at 2,015 at the time of writing. It has changed little in the short term, that’s why we need to wait for a fresh trading opportunity. Fundamentally, XAU/USD stays higher as the US Empire State Manufacturing Index […]
Let’s take a look at the technical picture of EUR/USD, USD/CAD and Gold The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for EUR/USD on April 18, 2024 April 18, 2024 EUR/USDYesterday, the euro was up 0.49%, while the S&P 500…Forecast for GBP/USD on April 18, 2024 April 18, 2024 GBP/USDYesterday, the […]
The latest weekly gold survey shows that retail investors remain optimistic. At the same time, the opinions of Wall Street analysts are evenly divided: many suggest that traders should differentiate between short-term volatility and the broader trend. According to Ole Hansen, head of commodity strategy at Saxo Bank, gold has strong fundamental support, so he […]
Potential for the higher prices on Gold, BTC and GBP The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market continues to price in a plethora of rate cuts for… April 17, 2024 Market is still in monetary easing mode despite fewer rate…GBP/USD. April 17th. Inflation in Britain is falling, but… April 17, […]
Markets stay alert to the issue of the US government’s technical default, which forces investors to be extremely cautious. The federal debt ceiling has already, at least over the past decades, been raised a few times by Congress. Despite the precedent, under the current difficult political and economic situation in America, the risks of the […]
EUR/USD Higher timeframes The bears continued to drive the market down on Friday, marking a distinctly bearish close for the week. Today, with the opening of trading, the weekly short-term trend (1.0864) has moved closer to the monthly medium-term trend (1.0901), thereby strengthening the zone of attraction in this area. This may now cause a […]
Crypto Industry News: Amid the banking turmoil in the United States, Tether (USDT) has emerged as a major stablecoin. We can see this in the latest report, which revealed that the stablecoin issuer reported a net profit of almost $1.5 billion in the first quarter of 2023. According to an official statement, Tether’s excess reserves […]
Technical analysis: Gold has been trading upside this morning and I found rejection of the support level at $2.000, which is good sign for the further rise. Due to the strong upside cycle on the Gold and the rejection of the support at $2.000, I see potential for the further growth towards upside references. Upside […]
Our long-term count for gold calls for more upside progress in the weeks/months ahead. A firm break above resistance at 2,074 will call for a continuation higher towards at least 2,400 and likely closer to 2,700 before a possible peak. In the short term, we need to allow for gold to consolidate the latest rally, […]
Early in the European session, Gold (XAU/USD) is trading around 2,017.12, below the 200 EMA located at 2019.14, and within the downtrend channel formed since May 9. We can see a strong resistance around 2,020. If gold breaks this area and consolidates above, we can expect it to continue to rise. The instrument can reach […]
On Friday morning, Bitcoin started a sharp decline. At the time of writing, BTC was balancing at the level of $26,449. According to CoinMarketCap, the minimum price reached $26,584 over the past 24 hours, and the maximum was $27,589. The day before, the crypto market was dominated by strong bearish sentiment. As a result, BTC […]
Gold is trading in the red at 2,013 at the time of writing. It has turned to the downside again, erasing the latest gains. In the short term, the downside pressure remains high, despite temporary rebounds. Surprisingly or not, the yellow metal crashes even if the US Prelim UoM Consumer Sentiment came in at 57.7 […]
Yesterday, another inflation report was published in the U.S., which, in theory, should have provided additional support to EUR/USD buyers. It concerns the producer price index, which ended up in the “red zone,” reflecting a slowdown in inflation in the States. This fact is not in favor of the greenback, but given the circumstances, the […]
Yellow rectangles- overbought tops Blue rectangle- key support Green lines- bearish divergence in the RSI Our analysis on Silver on May 5th explained the scenario of an important top and the chances of a bearish reversal in trend. Price was then trading around $25.60-$26 and is now falling below $24. The similarities to the previous […]
Gold price is trading around $2,004. Gold price has broken below the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). This is a key sign of weakness. Usually when price breaks below both indicators we see a move towards the Kumo (cloud). Over the past week we have been calling for the vulnerability […]
