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....
The EUR/USD exchange rate continued to decline late Thursday afternoon, nearing the 1.0800 level. This drop followed an unexpected increase in the U.S. Services PMI, sparking fresh concerns that the Fed may reduce interest rates less than anticipated. As a result, investors flocked to the safe-haven U.S. Dollar, driving down the value of the EUR/USD pair despite...
Gold prices cooled down today as investors worry that interest rates in the U.S. will not be reduced soon. The precious metal continued to move in the red, trading around $2333. Another reason for the decline in gold prices is the announcement from S&P Global that the U.S. Producer Price Index (PMI) for May reached its highest level in two years. This data pushed...
Gold prices today have seen a slight decline as expected if gold surpassed the 2375 USD mark. Currently, the precious metal is hovering around 2364 USD, down 0.60% for the day with a drop of 150 pips at the time of writing. Gold is healing its wounds after reaching a five-day high, now sitting below 2370 USD, weakened by the May policy meeting minutes from the...
BTCUSDT is trading near the $70,000 mark today, and the technical outlook remains bullish as the price has broken out of the parallel downtrend channel. After a brief correction and breaking through the record resistance at $73,000, BTCUSDT is expected to head towards the $80,000 target.
Lido #LDO has produced a buy signal on the daily chart. The “doji” candle marks the signal, and the shadow of the candle is the point from which the stoploss will be placed. The buy signal, if effective, will face a resistance (dashed black line) that if overcome will take the price even higher.
The GBP/USD pair extended its gains near the 1.2720 level during early Asian trading on Thursday. This rise was supported by hotter-than-expected UK CPI inflation data, which reduced the odds of a rate cut by the Bank of England in June. However, the short- to medium-term trend remains largely consolidative, awaiting further data and new support to propel a...
The EUR/USD exchange rate declined on Wednesday after the latest Federal Reserve (Fed) meeting minutes revealed that the Federal Open Market Committee (FOMC) remains steadfast in waiting for more evidence that inflation will decrease to 2%. This has lowered risk appetite, as investors continue to hope for dovish signals from the US central bank. EUR/USD is...
The USD/JPY pair reversed its recent gains, reaching a two-week high near 157.00 during the Asian trading session on Thursday. The pair briefly tested the 157.00 level amidst steady bond-buying activity by the Bank of Japan (BoJ). However, a pause in the US Dollar's recovery and a slowdown in US Treasury yields have pulled the pair lower. Despite this, USD/JPY...
Gold prices are currently following a five-week upward trend, suggesting strong potential for 'buy-the-dip' trading opportunities in gold. However, for a sustained bullish trend to begin, gold needs to close above the wedge resistance at $2,450, which is an all-time high for the metal. Regaining this level could propel prices towards the $2,500...
Today, gold prices traded slightly lower on Tuesday as the US dollar gained only modestly amid a sour market mood. XAU/USD oscillated around the $2,420 mark after touching a daily low of $2,406.10. Asian and European indices dipped as investors took profits ahead of earnings reports, while lacking fresh catalysts. The macroeconomic calendar was quiet on Tuesday,...
The USD/JPY pair extended its winning streak into the fourth consecutive session on Tuesday. This asset strengthened as the US Dollar appeared stable, thanks to Federal Reserve (Fed) officials affirming that interest rates would remain at their current level for an extended period. The short to medium-term bullish outlook remains intact, with the pair maintaining...
EUR/USD lingered near familiar levels during a subdued Wednesday trading session. Discussions from Federal Reserve officials dominated headlines but offered little new insight for investors, limiting risk appetite and resulting in bids closing close to the EUR/USD opening price around 1.0853. From a technical standpoint, the daily chart for the EUR/USD pair shows...
The GBP/USD pair continues to engage in a sideways motion and consolidation after breaking through the 1.070 resistance level, which has now transformed into a new support zone. In the short term, the currency pair remains confined within a range, experiencing a couple of false breakouts. The next movement seems to favor the buyers, however, close monitoring is...
Hello everyone, let's dive into today's EUR/USD update! Market Insights: The EUR/USD exchange rate has experienced a dip back to 1.0880 this Monday, influenced by comments from Federal Reserve officials that added weight to an otherwise calm market atmosphere. The broader markets are nervously anticipating signs of interest rate cuts from the Fed, but...
BTCUSDT has resumed its upward trajectory, surpassing the resistance level at $71,300, and shows a positive outlook as it continues to perform well above the 34 and 89 EMA lines. Once it breaks through the $73,000 mark, a realm of new possibilities will open up, offering substantial opportunities for the bulls to pursue new record highs.
Trading Plan: Long Position Entry..! 1. Market Situation: - Currently heading towards the 1w +fvg (insert specific market or asset). - Anticipating a price action to reach the 4h fvg (four-hour Fibonacci retracement level). 2. Expected Scenario: - Anticipating a potential rejection at the 4h fvg level. 3. Response Strategy: - If the expected rejection occurs,...
Following the release of the US CPI year-over-year data at 3.4%, which was lower than the previous period and aligned with analyst forecasts, GOLD has resumed its upward trend since bottoming out at around $2,375. Labeling the waves from this low point, we might assume that four major waves have completed, with a fifth expansive wave currently unfolding. For...