During the February 19 session, gold rose to nearly $2,023 as Middle East geopolitical tensions persisted but then fell back as the USD recovered. In the context of investors maintaining caution, precious metals are unlikely to break out before the release of the FOMC minutes and the US CPI on Thursday. Currently, gold is increasing slightly to $2,018. The SPDR...
During the European session, the Bundesbank noted that Germany’s economy is likely in a recession, in the Buba Monthly Economic Report. The bank noted there’s “still no recovery for the German economy adding that. “Output could decline again slightly in the first quarter of 2024. With the second consecutive decline in economic output, the German economy would be...
EURUSD turned neutral technically on the 1D timeframe (RSI = 49.576, MACD = -0.003, ADX = 24.613) for the first time since February 1st which was the previous LH of the two month Channel Down pattern. It hit today the 1D MA50 in the process and got just pips away from a 4H MA200 test, a trendline that has been intact as a Resistance for almost 1 month (since...
Gbpusd on the 1 hour chart, we can see that we have an important zone around the 1.2581 level where the price reacted from several times. We can expect the buyers to step in again around this zone with a defined risk below it to position for a breakout above the trendline. The sellers, on the other hand, will want to see the price breaking lower to start...
Usdchf falling chart High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial...
Audusd for quite a while. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, we got a pullback into the 0.6541 level but given today’s breakout, we might be in front of a reversal. We can see that the buyers kept on leaning on the red 21 moving average and if we get a pullback we can expect them to lean on it again
THE Price broke a daily resistance , will expect to re-touch the resistance area and then fly
Gold benefits when Middle East geopolitical tensions escalate, the market waits for the FOMC meeting minutes and CPI report to determine the outlook. During the February 19 session, gold rose to nearly $2,023 as Middle East geopolitical tensions persisted but then fell back as the USD recovered. In the context of investors maintaining caution, precious metals are...
Chinese traders returned to the market with optimism after the Lunar New Year holiday but the rest of Asian stock markets remained cautious. Investors reassessed the outlook for Fed interest rate cuts, especially after CPI and PPI data rose above estimates. Markets are currently pricing in a 77% chance of a rate cut in June, according to CME Group's FedWatch...
The Pound Sterling didn't benefit traction towards the Japanese Yen withinside the mid-North American consultation and is flat at round 189.14, as Wall Street stays closed amid the United States President`s Day holiday. An absent monetary docket withinside the UK and Japan has saved the GBP/JPY inside acquainted stages. On Tuesday, the calendar will collect...
Short-term trading strategy when NZDCHF goes high there will be a rebound and decline} please wait
Opposition from some Fed members and some hot data appear to have finally quashed expectations for a Fed rate cut in March, along with a hawkish move by the ECB. Falling rates (usually at the longer end of the curve), are generally good for gold, but the Fed's first rate cut after a previous rate hike cycle represents weak activity, producing only short-term...
USD/JPY is extending the consolidation from 150.87 and intraday bias remains neutral. Downside of retreat should be contained by 148.79 resistance turned support to bring another rally. Above 150.87 will resume the rise from 140.25 to 151.89/93 key resistance zone. Decisive break there will confirm larger up trend resumption of 155.51 projection level next....
The US Dollar I is holding its ground above 104.50 in a very calm start of the week. With US traders not present in the markets, expect very thin volumes to occur, on a Monday where volumes are often already rather on the low side compared to the rest of the week. Rather look for the middle of this week for things to finally come alive,
Next month, yields could rise again as jobs data and inflation growth continue to beat expectations, which could be a headwind for gold. However, this also puts pressure on the stock market, which could once again lead to notable volatility in the stock market. Additionally, a steady stream of elections is coming thick and fast, bringing with it a lot of unknowns...
Meanwhile, the Swiss franc is expected to face pressure in the longer term as investors see the Swiss National Bank (SNB) leading the rate cut cycle due to a sharp slowdown in the consumer price inflation data. Price pressures in the Swiss economy have remained below to start reducing interest rates after holding them higher for longer.
Gold On the 1 hour chart, we can see that the price has been consolidating ever since the big drop from the US CPI report. We now have a minor resistance zone around the 1999 level which is what the buyers will need to break to start targeting the 2015 resistance next. The sellers, on the other hand, will keep on defending the level with a defined risk above it to...
committee also pushed back slightly about when the first rate cut will happen. Jay Powell noted that the Fed will be less likely to start cutting in March as many analysts were expecting. The Fed is battling a situation of high inflation and strong economic growth. The AUD/USD pair has rebounded slightly from its lowest point this month. It now sits slightly below...