Hello, everyone! Today, GBPUSD remains fairly static, hovering around 1.262, with the direction for the day still in limbo as the pair continues its sideways movement. Looking at the broader picture, a downward trend seems to maintain its dominance, with prices constrained below the EMA 34 and 89 indicators. The reversal of EMA 34 signals a promising opportunity...
USDJPY experienced minimal fluctuations up until the end of the week, with prices steadfastly hovering around the lofty 151,300 mark. Technical prospects for this pair lean towards an upward trend, as indicated by positive signals from the EMA lines. Nonetheless, a preliminary adjustment is anticipated, targeting the 0.5 - 0.618 zone of the Fibonacci retracement,...
GBP/USD is under relentless selling pressure, dipping just below the 1.2600 mark during Thursday's European trading session. The resurgent dominance of the US Dollar (USD) has exerted a formidable force on GBP/USD throughout the latter part of the week. It is expected that the price will drop sharply if it breaks the support zone of 1.2590.
Today, I am looking at American fashion company, Ralph Lauren Corp. with ticker #RL. It has been growing steadily for quite some time now, and it looks like it doesn't plan on stopping. Though fundamentals of the company seem pretty good, I will not be going through them, I will only focus on technical analysis here, as I always do. What am I looking at? 1....
Technical analysis indicates that the EMA 34 has crossed above the EMA 89, forecasting a continuation of the upward trend. However, the USD/JPY is currently moving sideways and stabilizing around 151.40, and forecasted decline due to the cautious stance of the Bank of Japan (BOJ) on interest rates. Japanese Finance Minister Suzuki expressed concern about the...
Here is our detailed technical review for CHFJPY. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 167.427. Considering the today's price action, probabilities will be high to see a movement to 168.320. P.S The term oversold refers to a condition where an...
Here is our detailed technical review for SILVER. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 24.799. Considering the today's price action, probabilities will be high to see a movement to 25.274. P.S Overbought describes a period of time where there has...
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"USDJPY trades quietly, hovering at record highs with a lack of upward momentum. The trend favors sideways movement, though EMA 34 and 89 signals suggest a potential for ascent. Technically, any upward trajectory may face resistance near the 152.00 mark, serving as a pivotal point for bulls if decisively breached, hinting at a continued rally from January 2023...
The price of gold surged in the North American trading session on Thursday, setting a new all-time high of $2,233 per ounce. This climb in the precious metal's value defies the rising US Treasury yields, bolstering the US dollar, and signifies strong investor demand. From a technical perspective, the upward journey of XAU/USD is far from over. The 4-hour chart...
Hello everyone, yesterday witnessed a dramatic surge in global gold prices, hitting a high of $2,233 per ounce on March 29th, just before the Easter holiday. This significant increase of 1.8% in a single day and over 9% in March is attributed to signals from the Federal Reserve (Fed) of the United States indicating potential rate cuts thrice within the year....
EUR/USD pair broke below the 1.0800 threshold on Thursday, hitting a new low for March at 1.0773-1.0774. Despite bouncing back from such lows, the pair still maintains a negative tone and stability around the 1.0790 price level. The US dollar has benefited from positive comments from the Federal Reserve officials, with Governor Chris Waller confirming that the...
"Good morning, savvy traders! Today, GBPUSD remains steady, echoing the calm of Wednesday's session. The price hovers around 1.263, showing minimal change from yesterday. Today's outlook suggests leaning towards selling as the USD struggles to find its footing, and technical analysis indicates the price movement is below the EMA lines. Expect to continue selling...
While US bond yields are rising, the price of gold continues to trend upwards. Strong statements from a Federal Reserve policymaker and positive economic data from the US have kept both the US dollar and gold stable. Currently, XAUUSD has increased by more than 1.20%. The upward trend in gold remains intact after surpassing the previous peak at 2,223 and...
Let's dive into the intricacies of EURUSD today, shall we? Today, EURUSD remains unable to find its way back to a bullish path, with the price hovering around 1.0823, trapped in a downward trajectory without breaching the price channel. The dollar's incremental rise has kept the bullish momentum alive, elevating the USD Index (DXY) close to the 104.50 mark. As...
Hello everyone, we start a new day with new opportunities. Today, let's analyze and devise a strategy for BTCUSD, the market leading cryptocurrency. BTCUSD continues to maintain in its strong bullish channel. Despite some headwinds in maintaining its upward momentum after hitting a new high at $71,750, it is currently at $69,538, up a slight 0.17% on the day. In...
Hello everyone! Today, XAUUSD (gold) is on the rise again, buoyed by ongoing expectations of a Fed rate cut. After successfully overcoming two significant resistance levels, gold continues to hold firm on its upward trajectory, establishing a new support zone following a period of consolidation in recent days. The outlook remains bullish as long as the bulls can...
"Today's gold market witnessed a refreshing surge, propelling prices back to the $2,200 mark in the early hours of the Asian trading session this Wednesday. This revival comes amidst the ongoing resilience of the U.S. dollar and a rebound in U.S. Treasury yields, drawing investor focus towards the latest hawkish remarks from the Federal Reserve. The short-term...