EUR/USD’s fall from 1.1138 resumed by break through 1.0684 last week. Initial bias stays on the downside this week for 100% projection of 1.1134 to 1.0693 from 1.0980 at 1.0535 next. Firm break there will target 1.0446 support next. On the upside, above 1.0697 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.
In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Fall from 1.2882 is seen as the third leg. Deeper decline would be seen to 1.2034 support and possibly below. But strong support should emerge from 61.8% retracement of 1.0361 to 1.2453 at 1.1411 to complete the correction
advanced this week, but ended the five-day period off its best levels established briefly on Friday during the New York session, when it touched $2,430, a fresh record. Considering recent performance, the precious metal has increased in seven of the last eight weeks, rallying more than 16% since mid-February and shrugging off extremely overbought conditions
Gold has been hitting all-time highs almost daily for the past two weeks, reaching $2364 in the spot market on Tuesday before the start of US trading. The ability to rise above $2071 per ounce, which gold found in late February, has signalled a break of resistance that has kept gold above since August 2021 Gold is now rising more actively than it did in the...
XAUUSD BUY opportunity strong bullish There are several other reasons that could explain why gold has done so well this year Here are some possible explanations for its ascent
Xauusd Higher bond yields weigh on Gold as they increase the opportunity cost of investing in it However Gold has performed strongly in the past few weeks despite rising bond yields amid geopolitical tensions in the Middle East region As a safe-haven asset Gold demand from investors and central banks increases at times of global economic uncertainty and worsening...
The drop earlier today came despite continuous geopolitical tensions and the potential for an Israeli response to the Iranian attack this weekend. There were reports from WSJ and Axios indicated that Israel may consider an attack that showcased the depth of their offensive capabilities. Over the weekend defensive capabilities were showcased
The fact we saw an intraday break above $2400 quickly reverse suggests traders are keen to book profits, which in turn suggests we may be about to experience some sort of shakeout at these highs.” Gold price (XAU/USD) oscillates in a narrow trading band heading into the European session on Tuesday and remains well within the striking distance of the all-time peak...
In the bigger picture, price actions from 0.8342 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0145 (2022 high). Further rise would be seen as long as 0.8727 support holds. But upside should be limited by 0.9242 resistance, at least on first attempt. However, decisive break of 0.9233 will argue that the...
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GBPJPY level for confluence The sellers on the other hand will want to see the price breaking lower to position for a drop into the lower bound of the channel eventually targeting a break below it
BTCUSD On the other hand if the bulls are able to flip the previous high into support like they did with the support previously as highlighted in purple, then that would be a promising move Investors should watch for a decisive flip of the blockade into support A bounce atop this base would inspire more buy orders sending BTC price to the local top at least one
GBPUSD seen as the third leg Deeper decline would be seen to support and possibly bullish But strong support should emerge fromretracement of complete the correctional
EURUSD The latest inflation report for March spooked everyone showing consumer prices soaring by 3.5%, way above expectations What does high inflation mean It means the Fed's gonna keep interest rates high for longer to fight it As soon as that data hit you could practically hear the market's collective gulp with the EURUSD
On the 1 hour chart, we can see more closely the recent price action with the pair bouncing on the most recent swing high level at If we get a pullback from the current high that’s where the buyers should pile in with a defined risk below the level to position for a rally into new highsThe sellers, on the other hand, will want to see the price breaking lower to...
BTCUSD strong bullish and high risk trade in Remember trading is inherently risky and it's crucial to engage with the market based on thorough analysis and personal risk appetite For continued updates Andrew Market insights
Gbpusd sell it The rising yield has the US dollar moving to the upside The US dollar is now trading to new at session highs
Gold Geopolitical frictions in the Middle East have further bolstered gold although these risks have intensified only recently and haven't been a predominant theme for an extended period To add context investors have been nervous about Iran's potential retaliation against Israel following the bombing of its embassy in Syria Such action could escalate tensions in...