EURUSD has turned bullish on the 1D timeframe (RSI = 62.360, MACD = 0.002, ADX = 55.342) but on the 4H chart it has started the bearish leg of the 1 month Channel Up. There is still time to sell and target the 0.5 Fibonacci level on a -0.85% decline from the top (TP = 1.08870), like the bearish wave after the Feb 22nd top. ## If you like our free content follow...
move higher would probably soon encounter resistance in the region of 147.602 -148.01 where the 100 and 50-day Simple Moving Averages (SMA) are situated. Given the pair is now in a short-term downtrend, however, it will probably eventually rollover and start falling again, back down to the 146.48 March 8 lows. If the pair breaks below the 146.48 lows it will...
Gold according to the 4-hour chart, XAU/USD lost momentum but holds on to gains, limiting the risk of a steeper slide. The 20 SMA heads firmly north, far below the current level, momentum, while the longer moving averages remain directionless. XAU/USD hovers around a flat 200 SMA. Technical indicators, in the meantime, eased from near overbought readings,...
Possible move on AUDNZD, expecting price to break from the trendline before selling to the 1.06000 zone, apply risk management.
The US Dollar Weakens, While Gold and Bitcoin Reach New Highs Ahead of NFP Report. In a speech before the Senate Banking Committee yesterday, Fed Chairman Jerome Powell hinted that interest rates may soon fall, saying, "If the economy performs as expected, the Fed is cautious about easing loosen monetary policy in the near future", and he also added: "The Fed is...
Gold continues to rise after Chairman Powell's first testimony Gold prices extended their upward momentum after Chairman Powell leaned toward the "dovish" side and reported a lower-than-expected JOLTS. During the March 6 session, gold prices maintained their upward momentum, supported when Fed Chairman Powell leaned towards the "dovish" side in his first...
Currently, investors are waiting for the employment report from the US Department of Labor. According to data released by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, private payrolls increased by 140,000 last month after increasing by 111,000 in January. The report shows that the market US employment is still growing...
Currently, buyers are anticipating the employment file from the United States Department of Labor. According to facts launched via way of means of the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, non-public payrolls multiplied via way of means of 140,000 final month after growing via way of means of 111,000 in January. The file...
Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Chair Jerome Powell’s remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day. was little changed at $2,157.16 per ounce, as of 0350 GMT, hovering around a record peak of $2,164.09 hit in the previous session
AUD/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/USD Long Minimum entry requirements: • If 3 touch 1H continuation or 2...
The next AUD/USD news to watch will be the upcoming US initial and continuing jobless claims numbers. Expectations are that initial jobless claims rose to 218/7k last week. These numbers will be followed by the latest existing home sales. Existing home sales are expected to come in at 3.95 million in January. The other important data will be the flash...
Powell’s remarks, coupled with data released the same day indicating a softening of labour market conditions, resulted in U.S. Treasury yields and dollar sliding, increasing the appeal of gold. If Friday’s labor market data or next week’s inflation data shows any weakness, $2,300 would be the short term target based on technical levels, but that would be fairly a...
Gold rose above 2,150 USD during the European session. Gold's upward momentum has been consolidated after rising above its all-time high set last December, amid positive market sentiment ahead of the prospect of a Fed policy pivot and geopolitical risks. persistent treatment. On frame D1, the RSI indicator in the overbought zone continues to be a cautious signal...
Gold continued to increase in today's trading session based on expectations of US monetary easing. Gold has room to increase strongly in the short term because the Fed will not let the US economy weaken. The Fed will soon cut interest rates. Interest rate cuts could take place this year. Reiterating the need for more evidence to show that the fight against...
Fed chair Powell will be appearing twice this week, on both Wednesday and Thursday as the head of the US central bank testifies about the Fed’s Semi-Annual Monetary Policy Report to the US government’s House Financial Services Committee. Headlines are expected throughout both days as the Fed chairman answers policymaker
Very interesting pool of support underneath. I have placed the buy limit order with the given stop and target. If the price does not give me a pullback within 8 hours I will pull the order. There is a potential engulfing forming in the daily as well after it swing failed the lows. So I think the shorts have been trapped already.
Gold prices maintained gradual gains, supported by data PMI that was lower than estimates. In Europe, gold continued to increase from $2,119 to $2,140 and then decreased again and is at the $2,128 version. Precious metals continue to be supported by recent US economic data, but the market is still waiting for the JOLTS jobs report and Fed Chairman Powell's hearing...
Gold prices maintained their upward momentum, supported by lower-than-estimated PMI data. In the European session, gold continued to increase from $2,119 to $2,140 and then decreased again to close the session at $2,128. Precious metals continue to be supported by recent US economic data, but the market is still waiting for the JOLTS jobs report and Fed Chairman...