Technical analysis: Gold has been trading upside this morning but I found that intraday resistance at the price of $1.872-$1.875 is on the test. Due to the strong downside trend in the background and morning rally, I see potential for the further drop towards lower reference. Downside objective is set at the price of $1.858 […]
Positive macroeconomic data continue to come in from the United States, increasing the likelihood of the Federal Reserve keeping interest rates at high levels. This is a bullish factor for the dollar and bearish for gold, whose prices are highly sensitive to changes in the credit and monetary policy parameters of the world’s largest central […]
Gold price is making new lows relative to August. Short-term trend remains bearish as we explained in previous posts. Today we take a look at the weekly chart with the use of the Ichimoku cloud indicator. The Chikou span (black line indicator) has just crossed below the candlestick pattern (bearish). Price is trading below both […]
EUR/USD Higher Timeframes Bears continued the decline and fully achieved the daily target by breaking through the Ichimoku cloud (1.0500). This level also serves as a significant psychological threshold, so there may be a slowdown or a rebound formation. A corrective rise can be considered complete when testing the daily short-term trend (1.0613). Breaking through […]
The euro-dollar pair tested the 4th figure yesterday for the first time since January of this year. A multi-month price low was reached amid the overall strengthening of the greenback. It is worth noting that yesterday was marked by multi-month, and in some cases, multi-year records. In particular, the 10-year Treasury yields exceeded 4.6% for […]
Technical analysis: Gold has been trading downside in the background as I expected and the price reached downside objective at $1.884 but I see potential for the further drop. Due to the strong downside momentum and the bear trend , I see potetnial for the further drop towards lower references. Next downside objective is set […]
A fresh wave of sell-offs in the markets, accompanied by an increase in US Treasury yields and a strengthening of the US dollar, has become a reality. A combination of several negative factors could not be ignored by the market. What is behind the market’s decline? The first reason to push markets down was the […]
Red lines- bearish channel blue lines- Fibonacci retracement levels Gold price is trading below $1,900. Recently price got rejected at the upper channel boundary showing new signs of weakness. Price has now formed a new lower low as it moves lower towards the August lows around $1,884. Gold price remains vulnerable to more downside. Our […]
Potential for the further downside movement 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 […]
What does the price of gold depend on? At first glance, the answer is simple—it depends on the cost of money. The lower central bank interest rates are, the cheaper they become. The more expensive the precious metal must be quoted. Conversely, in times of high interest rates, the XAU/USD pair should fall. At the […]
Technical analysis: Gold has been trading downside as I expected and the price has reached downside objective at $1.900. Anyway, I see potential for the further drop. Due to the downside momentum and the downside trend, I see potential for the further drop towards next reference point. Downside objective is set at the price of […]
EUR/USD A significant decline in global stock markets, gold, and several commodities on Tuesday could not help but boost the desire for counter-dollar currencies to rise a bit while awaiting the budget-parliamentary crisis in the United States. The S&P 500 lost 1.47% yesterday, and gold dropped by 0.88%. Yields on 5-year U.S. government bonds rose […]
Early in the American session, Gold (XAU/USD) is trading around 1,908.52 with a bearish trend after reaching a high of 1,947.39. On the 4-hour chart, we can see that gold reached the bottom of the downtrend channel around 1,904.58. A technical rebound is unfolding shortly after. In the next few hours, data from the United […]
Gold price is trading around $1,904. Gold price is in a bearish trend according to the Ichimoku cloud indicator. We warned traders that price was challenging important resistance levels and that trend has not changed yet. On the contrary price yesterday got rejected at cloud resistance and closed below both the tenkan-sen (red line indicator) […]
The higher you climb, the harder you fall. Especially if the ascent is very rapid. When, at the end of the second decade of September, Brent quotes exceeded the $95 per barrel mark, there was no shortage of bullish forecasts. Goldman Sachs raised its estimates for the North Sea grade from $93 to $100, while […]
Let’s take a look at the technical picture of SP500, Gold and USDX. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly forecast based on simplified wave analysis of… April 8, 2024 GBP/USDAnalysis:Since July last year, the main direction of price movement…Weekly forecast based on simplified wave analysis of… April 8, 2024 […]
Technical analysis: Gold has been trading downside as I expected and the price has reached first objective at $1.913. Anyway, sellers are in control and I see potential for the further downside movement. Due to the rejection of the resistance in the background and breakout of the support, I see potential for the further drop […]
Early in the American session, XAU/USD is trading around 1,923.28. It is located within a symmetrical triangle, below the 21 SMA, and below the 200 EMA. According to the 4-hour chart, we can see a consolidation in gold after having reached the low at 1,912 and the high at 1,947. This movement could mean a […]
Gold price is trading around $1,924. In the daily chart trend remains bearish as price remains below the cloud. Price made an attempt last week to break above the cloud but bulls failed to break above the Kumo (cloud) resistance. Price is now above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). […]
Last week, gold continued to trade within its established range. The latest weekly gold survey showed that market analysts were divided into bullish and neutral camps, while retail investors were waiting for prices to break out of the recent range, either upwards or downwards. James Stanley, senior market strategist at Forex.com, sees the potential for […]
The GBP/USD pair has hit a six-month low, marking itself near the 1.22 level. The last time the British pound was in this price range was in March of this year. It’s still a considerable distance away from this year’s price low of 1.1802, about 400 points. However, the downward momentum and the established fundamental […]
EUR/USD Brief analysis: A downward trend since the end of July has been pushing down the chart of the main European currency pair. The price continues its movement along a strong support zone that began a week ago. The wave level of countermovements is insufficient to initiate a reversal. Without the formation of a correction, […]
Nearly a year ago, the loss of trust in the fiscal policy of the temporary government led by Liz Truss nearly pushed the pound to parity with the U.S. dollar. At the end of September, investor confidence in the monetary policy of the Bank of England wavered, pushing GBP/USD quotes towards a six-month low. And […]
Technical analysis: Gold has been trading downside as I expected. The market rejected of the key resistance cluster at $1.929 and there is potential for the further drop. Due to the short-term downside trend and the rejection of the key resistance in the background, I see potential for the further drop towards lower references. Downside […]
Currency analysts come up with grim forecasts for the US dollar. They predict now and then that the greenback is doomed to a deep decline and even collapse in the long term. At the same time, a lot of analysts are confident that the US dollar will remain afloat. In any situation, the dollar knows […]
Even though on the daily chart the Silver commodity asset appears to be moving in a Sideways / Ranging condition, it seems that Sellers are still in control of this market, which can be seen from the CCI indicator which has managed to break below three important levels and is still oscillating in the range […]
Red lines -bearish channel Blue line- support trend line Gold price is trading around $1,925. Price is still inside the red downward sloping channel. Yesterday price tested the upper channel resistance and got rejected. Price remains above the blue upward sloping near term support trend line. Support by the blue trend line is found at […]
Technical analysis: Gold has been trading upside this morning but I see strong resistance cluster at the price of $1.929 and there is the chance for rejection or the breakout continuation. In case of the rejection of the resistance cluster, there is the chance for the downside movement towards lower references at $1.921 and $1.918 […]
The Federal Reserve played its own cards very skillfully, allowing Treasury bond yields to rise, stock indices to fall, and EUR/USD quotes to plummet to a 5-month low. The Fed’s “hawkish” pause turned out to be much more effective than the ECB’s deposit rate hike. As a result, financial conditions in the U.S. have tightened, […]
What happened on Wall Street? Last Thursday, the market seemed to turn into a nerve-wracking ride: investors massively sold off stocks due to concerns about the future of the Fed’s policy. As a result, three of the “big” market players went down by more than 1%. But that’s not all: 10-year US Treasury bonds jumped […]
