Gold prices saw a modest increase on Friday due to a weaker US dollar and lower US bond yields. Traders are increasingly betting that the Federal Reserve will cut interest rates this year following the recent weaker US GDP data. Additionally, geopolitical risks and conflicts in the Middle East could further support the precious metal. However, in the short term,...
Gold prices are currently facing fresh selling pressure around $2,330, extending the earlier decline seen on Thursday morning. The continuous rise of the US dollar has put downward pressure on gold prices. Investors are eagerly awaiting a series of new economic data from the United States and several speeches from Federal Reserve policymakers, hoping to glean new...
Hello everyone, Brian here! Today, GBPUSD is trading around 1.69, continuing its decline from yesterday. In the short term, this currency pair is forming a cup and handle pattern, suggesting a continued preference for selling. My target is 1.263. What about you? Share your thoughts and ideas for GBPUSD in the comments!
Hello everyone, Brian here! What do you think about the future trend of EURUSD? Looking at the 4-hour chart, EURUSD continues to be under pressure in a downtrend. This currency pair is under the control of the bears, with strong selling pressure since last evening. EURUSD has broken through several key support levels, the most recent being the psychological...
USDJPY is in the process of forming the head and shoulders, I still expect the price to reach 156.67 again!
Hello everyone, Brian here! What are your thoughts on the gold price today? Gold is continuing its downward trend after completing a correction phase. Currently, it is trading around $2329 and is experiencing a significant decline due to the rising U.S. Treasury bond yields and a stronger Dollar following last evening. Additionally, the upcoming PCE report this...
Despite the broad weakening of the US dollar on Monday, the Yen struggled to find solid footing, causing the USD/JPY exchange rate to fluctuate below the 157.00 mark. However, the USD has been steadily appreciating against the beleaguered JPY. While the pair is currently moving within a descending wedge, the technical outlook suggests a potential rise to higher...
This week, the primary factor influencing the Euro's price action will be the preliminary inflation data for the Eurozone for May, set to be released on Friday. This inflation data will offer fresh signals on whether the ECB will extend its rate cut policy into July. Before that, investors will be closely watching Germany's preliminary inflation figures for May,...
Hello everyone, it's Brian! Today, gold prices continue their short-term recovery, with the precious metal consistently creating new support levels. The US Dollar is weakening, and regardless of market sentiment, XAU/USD is trading around $2,360. There was a temporary increase in demand for the greenback at the start of the US session following optimistic...
Hello everyone! Let's dive into the gold price movements today! Currently, gold is on a strong recovery path, reaching $2,354, which is about $15 higher than the same time yesterday. This upward momentum is supported by the weakening of the US dollar. The DXY index has dropped nearly 0.1% from 104.747 to around 104.64 points, creating favorable conditions for...
Hello everyone, As anticipated, the EUR/USD pair has risen in line with the flag pattern, breaking out of the downward trendline and is now trading above 1.087. A stronger recovery could see EUR/USD revisiting the May high of 1.0894, followed by the March high of 1.0981.
Hello everyone, After a quiet trading session in Europe, GBP/USD surged higher, reaching its strongest level since mid-March at 1.2750. With US financial markets closed on Monday for Memorial Day, this could limit the pair's volatility during the US session. However, the overall trend remains favorable for buyers as the price continues to rise above the 34 and 89...
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Hey everyone, Brian here! Let's dive into the latest on GBPUSD today! Currently, GBPUSD is trading around 1.274, showing little change from the end of last week as it enters a consolidation phase in the short term. The price remains above the 34 and 89 EMA lines, suggesting that the upward trend might continue this week. I'm optimistic that this pair will soon...
Hi everyone, it's Brian! Gold prices continue to rise in the short term, currently trading around 2344 USD and recovering over 100 pips. My recommendation for today is a buying strategy, as gold is still performing strongly within the upward price channel. What are your thoughts on this?
Hello everyone, Brian here. Today, gold prices continue to move upwards following last week's adjustment. The precious metal is trading around $2,345, showing a slight recovery of 0.47% for the day. In the long-term, gold's outlook remains favorable for buyers as prices have touched the 34 EMA line. Personally, I am still targeting above $2,500. What about you?...
The GBP/USD pair lost its recovery momentum around the 1.2695 mark early in the Asian session on Friday. The major currency pair gradually declined after pulling back from the recent high near 1.2760 amid renewed demand for the U.S. Dollar. Later on Friday, the UK retail sales, U.S. durable goods orders, and the Michigan consumer sentiment index will be...
The USD/JPY pair remained strong above the 157.00 level during Asian trading on Friday, consolidating previous gains despite ongoing risk aversion in the market. This pair benefited from weaker national CPI data from Japan, which pressured the Japanese Yen and supported USD/JPY. The next key focus is on U.S. data, which will determine the pair's next direction....