EUR/USD Analysis: The analysis of the weekly scale chart of the major European currency pair shows the formation of an ascending wave that began in September last year. An impulse type forms the wave. The correctional section (B) is formed as a shifting plane, developing along strong support. The wave structure still needs to be […]
Technical analysis: Gold has been trading downside on Friday due to the positive economic data in US but I found rejection of the key support at $2.000 and potential for the further upside continuation. Due to rejection of the support zone and strong upside trend in the background, I see potential for the further growth. […]
Review : The GBP/USD pair has faced strong support at the level of 1.2502 because resistance became support. So, the strong resistance has been already faced at the level of 1.2582 and the pair is likely to try to approach it in order to test it again. The level of 1.2502 represents a weekly pivot […]
According to strategists at JPMorgan Chase & Co, investors are likely to favor gold and technology stocks, as these assets are expected to provide protection against a potential US recession this year. Long-term trading is characterized by an overweight position in gold, growth stocks such as technology companies, and currencies (short US dollar). Nikolaos Panigirtzoglou […]
Early in the American session, we can see that Gold (XAU/USD) is trading around 2,034.91, below the 21 SMA, and below the +1/8 Murray located at 2,062. On the 1-hour chart, we can see that gold has broken out of the uptrend channel formed since May 2. Downside pressure is likely to persist if the […]
Green lines- bearish RSI divergence Blue rectangle- support Yellow rectangles- major tops with same overbought RSI conditions Silver made a new 2023 higher high yesterday. The RSI is not following. The RSI is giving bearish RSI divergence signals. This is an important warning. The last time RSI of Silver price was this overbought and turned […]
Blue lines-bullish channel Red lines- bearish potential Black lines- bearish RSI divergence Green line- important horizontal support Gold is under pressure. Gold is trading close to $2,010. In our previous analysis we noted the increased chances of an important top in the making and the start of a pull back that could bring price towards […]
Following turbulent days triggered by US bank collapses, US stock index futures are showing signs of recovery. Both the S&P 500 and Nasdaq 100 futures rose by 0.7%, while the US dollar index regained some of its losses from the previous day. Treasury bond yields have also increased. Today, the spotlight will be on the […]
Let’s take a look at the technical picture for EUR/USD, USD/JPY, USDX and GOLD . The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Trading Signals for GOLD (XAU/USD) for April 11-15, 2024:… April 11, 2024 Gold is trading around 2,340.64 within a symmetrical triangle pattern…Forecast for EUR/USD on April 11, 2024 April […]
History repeats itself. If we go by this principle, Bitcoin should flutter like a butterfly. In April, it closed its fourth consecutive month in the green zone, demonstrating the longest winning streak since 2020–2021. When the token grew for four or more months in a row in the past, it added 260% to its value […]
Potential continuation on the Gold and GBP/USD The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 22, 2024 April 22, 2024 Potential for the further drop on NAS100The material has been…Market Comment – Risk appetite returns as geopolitical fears… April 22, 2024 Global markets in a better mood […]
EUR/USD Higher timeframes Over the past day, another change in daily sentiment took place, and as a result, by the end of the first working week of May, the pair continues to maintain uncertainty. The previously mentioned reference points, which will be relevant in case of a situation change, remain in place and retain their […]
Over the past week, Bitcoin has experienced minimal price changes, despite high levels of volatility. The Federal Reserve meeting and its results provoked active actions by investors, but the price was magnetically pulled back to the $28.5k–$29k range. As a result, BTC ends the trading week near the $29k level, and despite the lack of […]
Crypto Industry News: The former CEO of MicroStrategy, a company that invests in BTC, Michael Saylor, spoke again about cryptocurrencies. In his opinion, bitcoin adoption is now driven by, among others, by dollar inflation. Inflation Drives Bitcoin Adoption In a recent interview with CNBC, Saylor noted that there are two main drivers for bitcoin adoption. […]
Technical analysis: Gold has been trading upside in the background and I see potential for the further growth due to the strong upside trend and no bigger sign of weakness. Due to the strong upside momentum and breakout of the range in the background, I see potential for the further growth towards next upside reference. […]
Early in the European session, the Japanese yen is trading around 134.04, below the 21 SMA and around the 200 EMA. We can see strong bearish pressure that started at the beginning of the month after reaching the 137.79 area. According to the chart above, we can see that the USD/JPY pair maintains an uptrend […]
At the close on the New York Stock Exchange, the Dow Jones index fell by 0.86%, reaching a monthly low, the S&P 500 index dropped by 0.72%, and the NASDAQ Composite index fell by 0.49%. As expected, following the May meeting, the Federal Reserve raised the base interest rate by 25 basis points, to the […]
Overview : The GBP/USD pair traded higher and closed the day in the positive territory near the price of 1.2498. Right now, it was trading in a narrow range of 1.2536 staying close to a 2-days high. On the hourly chart, the GBP/USD pair is still trading above the MA (100) H1 moving average line […]
Let’s take a look at the technical picture of EUR/USD, GBP/USD and GOLD. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis for… April 22, 2024 GBP/USDAnalysis:The daily chart scale of the major pair of the…Weekly forecast based on simplified wave analysis for… April 22, 2024 […]
Black lines- bearish RSI divergence Blue lines- bullish channel Red lines- bearish channel Green line- key support Gold price recently broke out of the triangle pattern it was trading inside and provided us with a bullish signal. Since the $2,005 break out, Gold is in bullish mode making new higher highs relative to the mid […]
The price of gold dropped a little today after reaching 2,067 new high. After its amazing rally, a temporary drop was natural. The rate came back to test and retest the near-term support levels before jumping higher again. It’s located at 2,042 at the time of writing. Lanter, the ECB and the US data should […]
Yesterday, the Federal Reserve concluded the FOMC meeting. As expected, the interest rate was raised by 0.25%. Now the base rate is between 5% and 5.25%. Most importantly, at the next FOMC meeting in June, after 10 consecutive rate hikes, the Fed hinted that they may pause further rate increases. Such a decision will allow […]
On the eve of important economic events, Bitcoin was in a stable position near the $27k support level. At the same time, trading volumes and bearish activity were limited, as investors awaited clarification on the key interest rate situation. As a result of yesterday’s trading day, a large number of facts were announced, indicating the […]
Potential for the further growth 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 […]
Technical analysis: Gold has been trading upside as I expected and the first upside objective has been reached at $2.075. Anyway, I see potential for the higher prices towards Fibonacci expansion 100%. Due to the strong upside momentum and new all time high on the Gold, I see potential for the further growth towards upper […]
The US Services ISM (Institute for Supply Management) Business Activity Index rose to 51.9% in April from 51.2% in March, with a forecast of 51.8%. Meanwhile, the number of private sector jobs in the US increased more than expected in April, with a rise of 296,000 positions, while experts had anticipated an increase of 148,000. […]
The price of gold edged higher and now is trading at 2,022 at the time of writing. It has climbed as much as 2,026 today, registering a new high. You knew from yesterday’s analysis that the XAU/USD is strongly bullish and it could resume its growth. Surprisingly or not, the yellow metal jumped higher, even […]
Black lines- triangle pattern (broken) Gold price is trading above $2,000. Price broke out and above the triangle pattern it was in and reached as high as $2,018. Gold price provided a bullish signal with the break of the resistance at $2,004. Gold yesterday posted the highest daily close in two weeks. Previous resistance is […]
Which will save you from recession faster: gold or the U.S. dollar? Despite the fact that during all but one of the recessions over the past 40 years, the U.S. currency has strengthened, the next one may be an exception. It is not for nothing that central banks do not get tired of increasing their […]
Technical analysis: Gold has been trading upside as I expected and the price has broke the multi-day trading range and I see potential for the further growth. Due to the breakout of the tight consolidation with the strong momentum and the higher time-frame upside trend, I see potential for the further growth. Upside objectives are […]
