GBP/USD, H4 25 March 2024 The GBP/USD currency pair is exhibiting sustained bullish momentum, currently hovering near the 1.2600 level as the market anticipates further developments. Revisions in market expectations regarding a potential Federal Reserve rate cut in 2024 have emerged due to ongoing inflationary pressures in the U.S., contributing to the...
🔖XAU/USD, H4🔖 25 March 2024 Gold prices experienced a downturn as the robust US Dollar continued to dampen the appeal of non-yielding assets such as gold. The resurgence of the Dollar, particularly following signals from several major central banks, including the Swiss National Bank, hinting at potential rate cuts in 2024, weighed heavily on the precious metal...
On ETH, similarly to Bitcoin, a deeper descent is also appropriate, the lower green zone is a potential rebound and the end of the correction. There is also a 30% descent from the local peak. Currently, ETH has dropped by over 20%. However, the third zone would give a decrease of approximately 40%. There is still room for another decline on the RSI, while on the...
🛢 CL OIL, H4 🛢 20 March 2024 Crude oil prices extended gains, reaching multi-month highs for the second consecutive session, driven by rising geopolitical tensions, notably recent attacks by Ukraine on Russian refineries. Concerns over supply disruptions intensified as the attacks targeted a significant portion of Russian refining capacity, leading to the...
AUD/USD, H4 20 March 2024 The AUD/USD pair remains under pressure, approaching its lowest level in March. Following the Reserve Bank of Australia's (RBA) interest rate decision, which met market expectations by maintaining rates at 4.35%, the Australian dollar experienced further weakness. This was exacerbated by comments from the RBA governor indicating that the...
USD/JPY, H4 20 March 2024 The Japanese yen faced significant downward pressure, tumbling to a four-month low, even as the Bank of Japan announced the end of its negative interest rate policy and quantitative easing measures. Market participants, having already factored in the policy change, engaged in profit-taking, leading to a sharp decline of over 1% in the...
EUR/USD, H4 20 March 2024 The EUR/USD pair has recovered from its lowest point in March, ahead of the critical Federal Open Market Committee (FOMC) interest rate decision. A hawkish stance from the Fed could place additional downward pressure on the pair. Nonetheless, the pair has been supported by encouraging data from the ZEW Economic Sentiment Index, which...
🔖XAU/USD, H4🔖 20 March 2024 Better-than-expected inflation data from the US prompted expectations of a hawkish tone from the Federal Reserve during its interest rate decision. Consequently, US Treasury yields climbed alongside the dollar, triggering a selloff in non-yielding assets like gold. Despite this, gold may consolidate within a range ahead of key events,...
It almost feels like it might head for the full target while the majority of the market is correcting here. *not financial advice*
🔖XAU/USD, H4🔖 18 March 2024 Gold prices declined as the US Dollar appreciated and US Treasury yields rose, dampening demand for non-yielding assets like gold. Better-than-expected economic data from the US signalled expectations of more hawkish policies from the Federal Reserve, further weighing on gold demand. Investors are closely monitoring monetary policy...
💵 DOLLAR_INDX, H4 💵 18 March 2024 The Dollar index strengthened against major currencies in anticipation of the Federal Open Market Committee's (FOMC) monetary policy decisions. Last week's higher-than-expected US producer and consumer price indexes raised hopes for a hawkish stance from the Federal Reserve. All eyes are on the Fed meeting for clues on the...
🔖XAU/USD, H4🔖 15 March 2024 Gold prices extended losses and consolidated around after reaching record highs. Investors opted for profit-taking strategies while awaiting further catalysts before re-entering the market. Improved inflation data raised expectations for the Federal Reserve to delay rate cut policies, potentiallyn impacting non-yielding commodities...
💵 DOLLAR_INDX, H4 💵 15 March 2024 The Dollar Index, tracking the greenback against a basket of major currencies, rebounded on the heels of better-than-expected inflation figures. The robust data prompted heightened expectations of rising interest rates, leading to a resurgence in US Treasury yields. According to the US Bureau of Labor Statistics, the Producer...
🛢 CL OIL, H4 🛢 14 March 2024 Crude oil prices climbed higher following better-than-expected inventory reports, with US Crude oil inventories declining more than anticipated according to Energy Information Administration (EIA) data. Investors await the International Energy Agency's monthly report for further insights into supply and demand dynamics, following...
AUD/USD, H4 14 March 2024 AUD/USD edged higher as markets anticipated a potential Federal Reserve interest rate cut in June, despite sticky inflation data. Contrastingly, the Reserve Bank of Australia (RBA) hints at potential rate hikes amidst elevated inflammation levels, signalling divergent monetary policies between the two central banks. AUD/USD is trading...
EUR/USD, H4 14 March 2024 EUR/USD experienced modest gains, supported by US Dollar depreciation. However, market sentiment remains mixed as investors weigh macroeconomic outlooks in the Eurozone and the United States. Anticipation builds ahead of potential borrowing cost adjustments by the European Central Bank (ECB) and the Federal Reserve (Fed) in...
GBP/USD, H4 14 March 2024 Pound Sterling saw a modest rebound post UK GDP data release, which met market expectations. According to the Office for National Statistics, the UK economy returned to expansion in January, rising by 0.20% after contracting 0.10% in December, which aligned with the market expectations. Despite returning to growth in January, Pound...
🔖XAU/USD, H4🔖 14 March 2024 Amidst prevailing market caution ahead of crucial US economic data releases, gold prices rebounded from support levels, extending their bullish trajectory. Lingering risk aversion prompted investors to seek refuge in safe-haven assets, contributing to heightened demand for gold. Gold prices are trading higher following the prior...