Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.37600 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.37600 support and resistance area. Trade safe, Joe.
Overall, GBP/USD is still maintaining a downward trend. This currency pair continued to decline during Wednesday's US trading session. Based on technical analysis, the Relative Strength Index (RSI) is currently trading around 40, which is often a sign that prices will continue to decline sharply. In this context, investors need to be cautious and carefully...
I had mentioned that price is looking like it wants to retrace. Its stalling a bit. Kinda looking like it does not want to make the move so being cautious. but not interested in selling until I see a healthy pullback to solidify a stronger move.
Traders, In today's trading session, our attention turns to XAUUSD, where we're keeping a close eye on a potential buying opportunity around the 2375 zone. Gold is on the verge of approaching the retrace area following its breakout from a downtrend observed in the 15-minute timeframes. Delving deeper into our analysis, it's crucial to underscore the fundamental...
At the beginning of Wednesday, the USD/JPY pair continued to hover below 155.00, a clear signal of the strength of the Japanese Yen. This stability is primarily supported by underlying risks of impending intervention from Japan. A slight decline in the US Dollar and US Treasury bond yields is also weighing on this currency pair. However, chart analysis reveals...
Gold prices saw a slight uptick at the close of the North American trading session, rising 0.22% after Fed Chair Jerome Powell’s hawkish remarks. Economic data from the U.S. was mixed, though Monday’s retail sales report and Powell's comments drove U.S. Treasury yields higher, limiting the gains for the yellow metal. From a technical standpoint, XAU/USD is poised...
Discover an enticing Buying opportunity in GOLD as it undergoes a critical retest of a key resistance area. With market analysis, technical indicators, and price action as your allies, evaluate the potential upside move. Stay vigilant and informed to capitalize on this precious metal's market dynamics.
Hello,Friends! USOIL downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 85.74 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the USOIL pair. ✅LIKE AND COMMENT MY IDEAS✅
Overall, EUR/USD is still maintaining a downward trend. EUR/USD has dropped to near the 1.0620 level at the beginning of the Asian trading session on Wednesday. This indicates the strength of the US Dollar compared to the Euro in recent times. However, when looking at the technical charts, we can see some positive signals suggesting that the price may be...
Here is our detailed technical review for EURCAD. Time Frame: 8h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.464. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.469 level soon. P.S The term oversold refers to a...
For a fifth day in a row, the EUR/USD is caught in a whirlwind, spiraling down to flirt with the 1.0620 zone, marking a fresh 2024 low against a US dollar that just won't stop flexing. Shattering through its 2024 floor of 1.0621 may set the stage for a tumble back to the depths of 1.0516. On the flip side, any surge in the EUR/USD might hit a speed bump at the...
Despite the fluctuations, Gold has maintained a stable upward momentum due to the crisis and political tensions in the Middle East region. Investors continue to bet on the Federal Reserve's interest rate cut in July, currently placing bets at around a 41% likelihood. Based on technical analysis, the upward trend of Gold appears likely to continue. On the...
Overall, the price of Gold is still maintaining its upward momentum. In the Asian trading session on Tuesday, the price of gold continued to rise below the $2,400 mark. However, political tensions in the Middle East are gradually easing, and strong economic data from China could potentially slow down the pace of gold's ascent. Looking at the 4-hour chart, we...
At the end of Tuesday's US trading session, the price of gold rose higher by 0.22%, following Federal Reserve Chairman Jerome Powell's hawkish remarks. This provided a favorable momentum for gold's growth amid escalating political tensions between Iran and Israel. Looking at the chart, it's evident that the price of gold is heading towards the target of 2,400...
Hey everyone, quick take on the gold market: should we buy or sell today? Gold dipped hard yesterday below $2325 but bounced back fast, now chilling around $2383. It's close to its record high and doesn't seem to cool off. Despite the U.S. dollar and Treasury yields going up, gold is holding strong, probably because of the tensions in the Middle East and bets on...
Gold prices continued their upward trend for the third day this week, stabilizing above the significant price area of $2,371. Despite recent market volatility, gold has maintained its upward momentum, demonstrating the underlying strength of the buyers at this time. Having surpassed previous resistance levels and historical data, we now turn to the extended...
USD/JPY continues to surge following its breakout above the 152.000 resistance level. The outlook for this pair remains bullish as the USD gains strength over the JPY, amidst Japan's current economic struggles and volatility. I maintain a bullish stance on this currency pair, as there are no signs of peaking yet, and prices remain stable above both the 34 and 89...
Hello,Traders! AUD-CAD is falling down But will soon hit a horizontal Support line and after the Retest we are likely to see A local bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!