The analysis on gold presents a complex picture influenced by various factors. Initially, the precious metal recorded a significant loss, exceeding 2% during the day and dropping below $2,340. This decrease was primarily attributed to the easing geopolitical tensions, which prompted a deep correction in the XAU/USD market. Additionally, the resilience of US...
Detailed Analysis on USD/JPY Recent Market Dynamics The Japanese Yen has recently attracted some buyers and recovered a portion of the losses incurred after Wednesday's US CPI release. Concerns about potential intervention by Japanese authorities, coupled with a weaker risk tone, have supported the JPY and exerted pressure on USD/JPY. Divergent Monetary Policy...
The USD/CAD is currently hovering around 1.3540 during the Asian hours on Friday, indicating potential signs of a halt to its four-day consecutive negative trend. This stabilization could be attributed to the positive sentiment surrounding the US dollar, fueled by the Federal Reserve's hawkish stance on maintaining higher interest rates. Specifically, the US...
Resumption of the rate up to 151.00 and rebound of the US Dollar: The US Dollar has shown a recovery, bringing the USD/JPY rate back up to 151.00. This suggests an increase in demand for US Dollars compared to the Japanese Yen, which could be influenced by a range of economic and geopolitical factors. Upward revision of US economic outlook: The upward revision of...
The price of gold has seen a decline below $2,030, after reaching $2,040 in response to recent changes in inflation trends in the United States. Meanwhile, the yield of the main ten-year US government bond remains steadily above 4.1%, creating hurdles for the XAU/USD currency pair in seeking positive momentum. Currently, the price of gold (XAU/USD) is in a...
The price of Western Texas Intermediate crude oil, the benchmark for US oil, was around $77.50 on Friday. WTI prices rose after weaker-than-expected US retail sales data, fueling hopes that the Federal Reserve will soon begin cutting interest rates in the coming months. The conflict in Gaza between Israel and Palestinian Hamas has yet to see a resolution or...
GBP/USD has lost its traction and dropped to its lowest level in over a week, near 1.2550, following weak inflation data in the UK on Wednesday. Bank of England Governor Bailey stated that inflation data hadn't really changed their outlook since the February monetary policy decision. After closing in negative territory on Tuesday, GBP/USD continued to decline in...
EUR/USD has recovered to the 1.0750 area and stabilized during the day after dropping towards 1.0720 in Tuesday's European session. The US dollar maintains its strength across the currency market, despite the momentum easing along with the run-up in government bond yields. Financial markets are still digesting the global delays in interest rate cuts, which are not...
Hello traders! As we can see, the pair managed to capture a new price at the level (2056.00). In my opinion, the pair should hit the level (2052.00) and then start a decline towards the level (2026.00) where we will then see a rise towards the level (2071.00). The market is showing instability because of the economic news and because of the war. Be careful! Don`t...
Gold has shown a reversal in trend, dropping below $2,030 after an initial increase to $2,040. Despite the strength of the US dollar, XAU/USD has maintained positive territory thanks to the decline in US yields and growing tensions in the Middle East. On the daily chart, the pair has modest intraday gains but remains below a 20-period simple moving average (SMA)....
- Trend Status Analysis by PresentTrading 'Use backtesting to evaluate and make objective trading decisions.' by PresentTrading #forex #USD #CNY #trading #backtesting
The EUR/USD experienced a decline after four consecutive days of gains, stabilizing just below 1.1000, while the US Dollar seeks to recover. On Thursday, Eurozone inflation data could disappoint expectations downward, while the US will release the core PCE index and weekly jobless claims. A daily close well above 1.1010 could pave the way for further gains. A...
The EUR/USD cross struggles to find a direction on Friday, oscillating in a narrow range just below 1.0700. US consumer confidence, according to the UoM index, fell below expectations, weakening to 60.4 in November from 63.8 in October. Wall Street operates in positive territory after Thursday's decline, influencing the demand for US dollars. The Relative Strength...
Hi guys! On the EURUSD, we must keep an eye on these zones for a potential entry opportunity. Trading is that simple; you don't really need to be certain about overall market direction, but you must only focus on the important price levels to catch entries while they happen. Good luck guys! Remain positive, because you are a winner!🙌🤸♂️😀
The EUR/USD is trading below 1.0550 in the early European session on Thursday, primarily due to ongoing tensions in the Middle East, which are bolstering the safe-haven US Dollar. Investors are cautious ahead of a speech by Fed Chair Powell. The EUR/USD briefly touched 1.0595 but then retreated, forming a short-term double-top pattern. A drop below 1.0560...
The EUR/USD exchange rate is above 1.0550, supported by a slight decline in the US dollar and decreasing US bond yields, while a positive risk tone weakens the dollar. Traders are awaiting key data for the week, including FOMC minutes and the US Consumer Price Index. The EUR/USD is below the 20-day Simple Moving Average (SMA) and within a downtrend channel, but in...
Boosted by a weaker US Dollar, the GBP/USD bounced from six-month lows near 1.2230 and rose to the 1.2300 area. However, the Pound remains among the worst performers following the surprising accommodative stance of the Bank of England. The Relative Strength Index (RSI) indicator on the four-hour chart stays below 30, and GBP/USD trades within touching distance of...
Hey Everyone, As you can see from yesterday updated. The cross and lock below the retracement range opened the swing range for a challenge, which was tested perfectly. Throughout the week we suggested these weighted levels like our algo generated swing range, will provide a reaction of 30 to 40 pip bounces. This played out perfectly giving a clean 40 pips plus,...