On the daily chart of Silver commodity asset, it is clearly seen that the price movement still moves under the red color Kumo as well as Chikou Span which is below the price, gives the clue that this commodity asset dominates by the seller, but with the Tenkan Sen which is intersects to golden cross […]
The surge of EUR/USD in response to strong retail sales and industrial production data appears paradoxical. Especially considering that against this backdrop, the yield on 10-year U.S. Treasury bonds has returned to its highest levels since 2007. According to MUFG, the intriguing deviation of the dollar from previously accepted norms may trigger further sales. Investors […]
No matter how chaotic gold’s dynamics may appear, they indeed follow a set of rules. XAU/USD quotes usually decline when Treasury bond yields rise and the USD index strengthens. Precious metals cannot compete with interest-bearing debt instruments and essentially act as an anti-dollar. However, everything was turned upside down in October. Gold broke the rules, […]
Early in the American session, Gold (XAU/USD) is trading around 1,954, retreating after having reached a new high of around 1,962.56. Gold has been showing strong volatility since the Asian session and is now facing a strongly overbought zone. So, we could expect a technical correction to occur in the next few hours. Since opening […]
Red lines- bearish channel Gold price is breaking out of the bearish channel it was in since the May top. Price is trading around $1,948 as it continues making higher highs and higher lows. The RSI has still not reached overbought levels. Gold price has broken above the high from September 20th. This price action […]
US stock index futures opened slightly down following yesterday’s rise during the regular trading session. S&P 500 futures dipped 0.2% while the tech-heavy NASDAQ dropped around 0.3%. Oil prices surged over 3% as Iran ramped up its rhetoric against Israel after a hospital explosion in Gaza, complicating Middle East conflict resolution efforts. Gold prices climbed […]
The GBP/USD currency pair is trading near the 21st and 22nd levels. Despite a fairly busy economic calendar, GBP/USD traders are in no hurry to open large positions, neither the buyers nor the sellers. Overall, the markets are experiencing contradictory dynamics as investors assess the latest macroeconomic reports and news related to the conflict in […]
On the 4-hour chart, the Silver commodity asset appears to be in an upward rally. This is confirmed by the price movement which is above the Moving Average with an upward slope plus the MACD Histogram which is in the positive area, where previously being in the ranging area has now managed to come out […]
According to the annual LBMA survey following the conference, participants stated that gold will outperform the precious metals market. However, certain observations and comments during the conference supported silver, evaluating its affordability compared to its fundamental indicators. As per analysts, despite the Federal Reserve maintaining interest rates at a restrictive level for most of 2024, […]
Potential for the further rally on the Gold… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Behind the scenes of Wall Street’s rise: the impact of… April 8, 2024 At […]
Technical analysis: Gold has been trading upside and I found breakout of the triangle pattern in the background, which is good confirmation for the higher prices. Due to the upside momentum and no signs for the reversal, I see potential for the further growth towards next upside objective. Upside objective is set at the price […]
Recently, the US market has been experiencing unusual fluctuations. Summarizing the last trading day, it’s worth noting that US retail sales in September exceeded all forecasts. However, the profits of the country’s two largest banks diverged: Bank of America’s profit soared, while Goldman Sachs’ decreased. A highlight of the day was the statement from the […]
Neither strong macro statistics in the United States nor the rise in U.S. Treasury yields, nor concerns about the Italian budget and the crisis in the Middle East have prevented the “bulls” on EUR/USD from continuing their counterattack. Speculators are gradually reassessing their positions on the euro, believing that many “bearish” factors are already priced […]
Early in the American session, Gold (XAU/USD) is trading around 1,924.42, bouncing above the 21 SMA located at 1,919. During the Asian session, XAU bounced around 1,912 and continued to rise. Now, it has gained more than $12 and is showing a resumption of the upward trend. According to the 1-hour chart, gold has bullish […]
The price of gold is trading in the green at 1,929 at the time of writing. The bias is bullish, so further growth is natural. Technically, after such an impressive growth, a correction was natural. The USD’s short-term depreciation helped XAU/USD to hit new highs. Fundamentally, Gold remains bullish as the Canadian and New Zealand […]
Red lines- bearish channel Gold price is trading around $1,921. After the strong bounce last Friday from $1,868 to $1,932, Gold price is now consolidating near its recent highs. This is important resistance area because here we also find the upper channel boundary. Gold longs are still not out of danger. Price remains inside the […]
Although market tensions somewhat eased, investors, in the face of uncertainty, continue to look for new trading opportunities. The upcoming corporate earnings season in the US appears to be positive, and this could lead to a local rally in the markets, with consideration of the Middle East crisis. Signals from Fed members indicating the necessity […]
Potential for the breakout mode on Gold… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Behind the scenes of Wall Street’s rise: the impact of… April 8, 2024 At the […]
Technical analysis: Gold has been trading sideways at the price of $1.918 and I found symmetrical triangle pattern in creation, which is a good sign for potential breakout mode in the next period. In case of the breakout of resistance at $1.922, I see potential for the further rally towards upside reference at $.932 In […]
According to the latest CFTC report, the past week was relatively calm in the futures market. One notable change was the value of the net short yen by position, which corrected by 1.2 billion, while changes in other currencies were minimal. The US dollar’s net positioning, after sharply rising the previous week, saw a 0.3 […]
The euro is struggling to hold onto $1.05 like a drowning person grasping for a lifeline. However, grim prospects for the Eurozone’s economy, the divergence in monetary policies between the Federal Reserve and the European Central Bank (ECB), the specter of an energy crisis, and the resurgence of fiscal discipline issues in Italy are creating […]
Gold price is trading around $1,915 after making a high around $1,932. Gold’s strong rise at the end of last week brought price at the major Kumo (cloud) resistance in the Daily chart. According to the Ichimoku cloud indicator trend remains bearish as price is still below the cloud. Although trend is bearish, price is […]
The fact that the eurozone industrial production contracted more than expected, from -2.2% to -5.1%, exerted significant downward pressure on the euro. This was exacerbated by the fact that the consensus estimate was a fall to -3.2%. However, this only reinforced the dollar’s overbought condition, so by the end of trading, the pair rebounded. This […]
EUR/USD Last Friday, the euro found support below the target level of 1.0552 on the daily chart. The support level at 1.0483 and the price channel line at 1.0464, which is just below it, are close by. However, the Marlin oscillator, which is moving upward into the bullish territory, brings an opportunity for the price […]
XAU/USD Downtrend Line As Resistance! The price of gold developed a strong upward movement and now is located at 1,915 at the time of writing. Now, it is almost to reach the downtrend line which represents an upside obstacle. As long as it stays below it, XAU/USD could drop again. As you can see on […]
Red lines- bearish channel Blue lines -Fibonacci retracement levels Gold price is trading around $1,912. Gold price has bounced towards $1,900 and the upper channel boundary, as expected by our previous analysis. Gold price has now reached important channel resistance while breaking above the 61.8% Fibonacci retracement level. Gold price has easily broken above the […]
Gold paused its rise Thursday as economic data from America revealed that inflation is higher than expected. Based on this data, the Federal Reserve signaled that it will maintain its restrictive monetary policy until inflation returns to its target level of 2%. Consequently, the Federal Reserve will not be in a hurry to lower interest […]
Technical analysis: Gold has been trading upside as I expected and the price has reached the first upside objective at $1.883 but I see potential for the further growth. Due to the strong upside momentum and the bullish trend in the background, I see potential for the further growth towards next upside reference. Upside objective […]
Crypto Industry News: On Tuesday’s edition of CNBC’s Squawk Box, Paul Tudor Jones warned of a possible stock market crash in the United States. He believes that the progressive and aggressive tightening of monetary policy by the Federal Reserve will lead the American economy into recession. During the show, Paul Tudor Jones also admitted that […]
The price of gold is trading in the red at 1,872 at the time of writing and it seems determined to hit new lows as the USD dominates the currency market after the US inflation publication. You knew from yesterday’s analysis that the volatility could be huge today around the US data dump. As you […]
