Trader_BrianFX

Trader_BrianFX Updated 

Hey folks, Brian here. Today, XAUUSD is making a comeback on the track with a recovery since its last touch at $2300 USD, now trading around $2350 USD, marking an increase of nearly 500 pips. On the 1D chart, XAUUSD is regaining bullish momentum after touching the EMA 34 line, signaling long-term growth prospects are still intact.

Trader_BrianFX Updated 

Gold Update: According to the weekly report from the US Department of Labor, the number of initial unemployment claims in the country has risen to its highest level since August last year. In the week ending on May 4th, the number of initial unemployment claims in the US increased by 20,000 compared to the previous week, surpassing expectations, reaching...

Trader_BrianFX

The global gold price continues its upward momentum, with gold rising to $2,360 USD per ounce. As a result, the precious metal sees its strongest increase in five weeks, as investors increasingly believe that the US Federal Reserve will soon loosen monetary policy. Furthermore, optimism rises as recent data suggests a slight cooling off in the US economy. This...

Trader_BrianFX

Greetings everyone, Today, GBP/USD surged higher to nearly 1.2540 thanks to better-than-expected Gross Domestic Product (GDP) data from the United Kingdom in the first quarter. The upward momentum is further supported by the convergence between the EMA 34, 89, and the current support level. The price target above the resistance level at 1.255 is being aimed for!

Trader_BrianFX

On Thursday, EUR/USD made significant strides, gaining ground for the week as the US Dollar retreated following a surge in US Initial Jobless Claims, reigniting expectations for potential rate cuts by the Federal Reserve.

Trader_BrianFX Updated 

Today, the price of gold is hovering around $2309, showing a downward trend as the US dollar has risen approximately 4% against the basket of six major currencies. Despite the strong global demand for precious metals, particularly in Asian regions such as China, India, and South Korea, the robustness of the USD continues to exert downward pressure on gold...

Trader_BrianFX

The Gold price chart on the H1 timeframe shows a precarious situation. Bullish speculators face skepticism after failed attempts to break free from a short-term downtrend. Gold now hovers around the $2300 USD/oz support level. Expectations of a rapid price surge to historical highs above $2400 USD seem distant. Traders await significant catalysts, such as the...

Trader_BrianFX Updated 

Hello everyone, Brian here. Let's take a look at what's special about EURUSD today! Currently, EUR/USD may extend its losses for the third consecutive session, trading around 1.0750 in the Asian trading session on Thursday. The US Dollar (USD) is gaining ground amid expectations that the Federal Reserve will maintain higher interest rates. Additionally, higher US...

Trader_BrianFX

"Gold (XAU/USD) attracted some buyers during Asian trading hours on Wednesday. Safe-haven demand, driven by geopolitical tensions and political uncertainty, as well as central bank buying activity, may contribute to pushing gold prices higher. However, hawkish remarks from Federal Reserve officials could dampen hopes of interest rate cuts in 2024, despite...

Trader_BrianFX Updated 

Gold prices tumbled during the North American trading session, dropping by about 0.4% amid a stronger US dollar and declining US Treasury bond yields. With scarce economic data in the US, investors will be closely watching Federal Reserve officials next week following the US employment report released last Friday.

Trader_BrianFX Updated 

The world gold price is currently trading around 2320 USD. "The recent downturn in gold prices we've seen over the past few weeks may be weakening. US employment figures have weakened the USD, creating an opportunity for the world gold price to rise," an expert noted. According to technical analysis, in the short term, the next resistance level for gold is 2,360...

Trader_BrianFX Updated 

Last week, the market had access to a plethora of US economic data, including the FOMC interest rate decisions, non-farm payroll reports, and service sector production data. These reports all indicated that the Fed would maintain the current USD interest rates. The reduced expectations for a rate cut in June meant that gold had to continue its adjustment...

Trader_BrianFX Updated 

Gold prices (XAU/USD) halted a two-day decline during the European trading session on Monday. Weaker-than-expected US employment reports have raised the likelihood of the Federal Reserve cutting interest rates in September, which weakened the US dollar and boosted the price of gold priced in USD. However, there's concern that easing tensions in the Middle East,...

Trader_BrianFX

Hello everyone, Brian here! The EUR/USD has ascended to a three-week high, nearing 1.0800. This strength in the primary currency pair is bolstered by the weaker-than-expected US Non-Farm Payrolls (NFP) report, which has put pressure on the USD, benefiting EUR/USD in turn. From a technical perspective, the EUR/USD extended its winning streak to the third session...

Trader_BrianFX

Hello everyone, Brian here. Today, gold ends the trading week hovering around the $2,300 mark during the Friday session in the U.S. The 10-year U.S. Treasury yield remains just below 4.6% following weak U.S. data. Despite this, an improved risk sentiment has prevented XAU/USD from gaining any significant momentum.

Trader_BrianFX

Hello everyone, Brian here. Today, after experiencing a downturn in the first half of Thursday, GBP/USD made a turnaround, posting a slight daily increase. The pair continued its recovery into early Friday, trading slightly above the 1.2550 mark in a positive zone. Wall Street indices opened in the green and climbed higher on Thursday. The U.S. Dollar (USD)...

Trader_BrianFX

Hello everyone, it's Brian here. Today, gold prices have stabilized around $2,300. Factors contributing to this stability include positive market sentiment, falling U.S. Treasury yields, and a weaker U.S. dollar. Traders are still digesting remarks from Federal Reserve Chairman Jerome Powell, as well as the central bank's decision to maintain interest rates....

Trader_BrianFX Updated 

EUR/USD has revisited the recent consolidation high on Thursday, reclaiming territory north of the 1.0700 threshold as market risk appetite stabilizes ahead of another US Non-Farm Payrolls (NFP) report on Friday. Price action has been aligning with the 34 and 89 EMA as the market anticipates a direct catalyst that could decisively influence the trend...