Forex forecast 04/07/2023 EUR/USD, USD/JPY, Gold and SP500 from Sebastian Seliga

Let’s take a look at the technical picture of EUR/USD, USD/JPY, Gold and SP500 ahead of NFP – Payrolls data release from the USA. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical analysis of GBP/USD for April 07, 2023 April 7, 2023 Overview: The GBP/USD pair opened below the weekly pivot […]

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Technical Analysis of ETH/USD for April 7, 2023

Crypto Industry News: Recently, we have become accustomed to negating almost everything related to cryptocurrencies by US regulators. Fortunately, state law allows you to go your own way in this regard, and Texas intends to take advantage of that. Texas is the first state to issue its own gold-backed digital currency. The proposed solution in […]

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Technical Analysis of BTC/USD for April 7, 2023

Crypto Industry News: During a recent Baoao forum, Xuan Changneng appealed to regulators to analyze the risks associated with cryptocurrencies. He pointed out, among others to the risk of bank collapse, which may be the result of introducing innovations in regulations. As an example, he cited the recent bankruptcies of American banks that provided services […]

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US stock market closes with growth, Dow Jones adds 0.01%

Investors are awaiting the release of US unemployment data, which is scheduled to be published on Friday. Analysts believe that the March unemployment rate remained at the February level of 3.6%, and the number of employed in non-agricultural sectors of the economy increased by 239,000. The statistics may hint at further actions by the US […]

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Technical analysis on Silver for April 6th, 2023.

Blue lines- bullish channel Silver price is trading sideways over the last couple of sessions. Technically medium-term and short-term trend remain bullish. Price continues making higher highs and higher lows inside the blue upward sloping channel. Support by the lower channel boundary is at $24.25. Resistance by the upside channel boundary is at $25.90. Staying […]

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Technical analysis on Gold for April 6th, 2023.

Blue lines- bullish channel Gold price is trading around $2,020. Short-term trend remains bullish after the triangle breakout. Medium-term trend remains also bullish as price is still inside the upward sloping channel since September. The upper channel boundary is at $2,065. In our previous posts we noted that a break out above the triangle pattern […]

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Forex forecast 04/06/2023 EUR/USD, USD/JPY, Gold and Oil from Sebastian Seliga

Let’s take a look at the technical picture of EUR/USD, USD/JPY, Gold and Oil. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Video market update for April 06, 2023 April 6, 2023 Potential for the rally on USD/JPYThe material has been provided…EUR/USD trading plan for April 6, 2023. COT report and… April […]

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Analysis of Gold for April 06, 2023 – Potential for further downside movement

Technical analysis: Gold has been trading downside as I expected and the price has reached first downside objective at $2.007. I still see potential for further downside movement. Due to the breakout of the mini upside channel in the background and weak reaction fo the support, I see potential for the further drop towards lower […]

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Technical analysis on Gold for April 5th, 2023.

Blue lines- bullish channel Red lines- triangle pattern (broken upwards) Black lines- bearish RSI divergence Gold price is trading around $2,020. Short-term trend is bullish as price continues trading inside the upward sloping blue channel since October of 2022. Price has broken out of the triangle pattern providing a new bullish signal. Our target as […]

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Gold: upside seems over, 2,009 as critical support

The price of gold is trading at 2,018 at the time of writing far below today’s high of 2,032. The yellow metal turned to the downside in the short term as the Dollar Index rebounded. After its amazing rally, a downside movement was natural, although the US reported poor data during the week. Surprisingly or […]

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Gold breaks $2,000 barrier for the third time in history

For the third time in its history, both in August 2000 and March 2020, gold broke above the psychologically important mark of $2,000 per ounce, and this time the precious metal intends to settle there for a long time. The huge demand for the physical asset, coupled with a favorable macroeconomic environment and unextended speculative […]

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Overview and outlook for USD

The ISM report published last Monday showed that business activity in the US manufacturing sector continued to contract at an accelerated pace in March. The PMI manufacturing business activity index in March fell to 46.3 compared to 47.7 in February and a forecast of 47.5. The corresponding indicator from S&P Global was adjusted from 49.3 […]

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Why is OPEC+ cutting production?

Despite worrisome economic data from China suggesting disruptions on the road to recovery, crude oil prices held their gains. Prices rose more than 6% on Monday following OPEC+’s surprise announcement of a 1.16 million bpd output cut by nine members on Monday. Saudi Arabia will cut production by 500,000 bpd, Riyadh said. And Russia will […]

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Will the dollar survive the banking crisis?

Gold jumped above $2,000 an ounce after JPMorgan Chase CEO Jamie Dimon said Tuesday that the banking crisis was in turmoil and not over yet. At the same time, the dollar weakened significantly. Dimon said that after the collapse of Silicon Valley Bank and the bailout of Credit Suisse by UBS in March, the chances […]

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Video market update for April 05, 2023

Potential for the downside movement on Gold…. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forecast for EUR/USD on April 5. US labor market data are… April 5, 2023 On Tuesday, the EUR/USD pair climbed toward the 1.1000 level.…Technical analysis of GBP/USD for April 05, 2023 April 5, 2023 Technical analysis of […]

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Gold to climb above $2,000

Throughout this week, many analysts predicted that gold could jump to $2,000 and even above. The yellow metal met expectations and reached the specified peaks. Now the primary task for the precious metal is to sustain its gains, experts believe. Weak data on the US labor market has acted as a strong driving force behind […]

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Forex forecast 04/05/2023 NZD/USD, GBP/USD and Gold from Sebastian Seliga

Let’s take a look at the technical picture of NZD/USD, GBP/USD and Gold. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD. Forecast and trading signals for April 5. COT… April 5, 2023 Analysis of the EUR/USD 5M chart. During the second trading…Indicator analysis: Daily review of GBP/USD on April 5, 2023 […]

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XAUUSD, H4 | Continues Bullish??

Gold is exhibiting strong bullish momentum, indicating the possibility of a bullish break through the 1st resistance level and a rise towards the 2nd resistance level. The overall bias is bullish, with the price above an ascending trend line, suggesting further bullish momentum. The 1st support level stands at 2003.00, serving as a pullback support. […]

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Analysis of Gold for April 05, 2023 – Extreme intraday condiiton

Technical analysis: Gold has been trading upside in the background but I found the buying climax after yesterday’s event. There is the chance for the downside rotation. Due to the tight channel in creation, I see potential for the downside movement in case of the downside breakout of the channel. Downside objective is set at […]

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Elliott wave analysis of Gold for April 5, 2023

Today we will look at the very long-term picture of Gold. Gold started its march higher when President Nixon announced the end of the Gold standard in 1971. Until August 15, 1971, the gold price was locked at 35 pr. ounce, but rising inflation in the US caused a run on the gold reserves, which […]

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US stock market closes with a decline, Dow Jones drops by 0.59%

The number of job vacancies in the US in February fell to its lowest level in almost two years, indicating a cooling labor market, while manufacturing orders fell for the second consecutive month. After the publication of this data, stocks began to fluctuate. Investors were waiting for this statistics to assess the resilience of the […]

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Gold close to providing new bullish signal for the near term.

Blue lines- bullish channel Red lines- triangle pattern Gold price is trading marginally above the triangle pattern it was in for the last few sessions. Price is showing bullish break out signs. Price so far has respected the lower triangle boundary. As we explained in previous posts, a break out above the triangle would give […]

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Gold and Silver Show New Bullish Momentum

New bullish bets are entering the market, according to the latest data from the Commodity Futures Trading Commission. Gold is near $2,000 an ounce, while silver has broken a long-term downward trend and is holding above $24 an ounce. For both metals, bullish speculative positions are well below historical norms, so as more investors enter […]

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Oil Price Forecast After OPEC+ Production Cuts

A few hours after OPEC+ announced it would cut total oil production by more than 1 million barrels per day, Goldman Sachs revised and published its forecast for oil prices, raising it by the end of 2023 for Brent crude from $90 to $95. The bank also raised its forecast for Brent by the end […]

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Video market update for April 04, 2023

Potential for the downside movement on the EUR and Gold…. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Daily Market Comment – Dollar slips, stocks climb after… April 4, 2023 Contraction in US manufacturing emboldens bets for Fed cuts Dollar…Indicator analysis: Daily review of GBP/USD on April 4, 2023 April 4, 2023 […]

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Analysis of Gold for April 04, 2023 – Potential for the downside rotation

Technical analysis: Gold has been trading sideways at the price of $1.978 in the defined trading range. I see potential for the downside rotation. Due to the rejection of the key resistance zone at $1.990, I see potential for the downside rotation towards lower extreme of the trading range. Downside objective is set at the […]

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