Conflicts in the Middle East and central bank buying led by China will also boost XAU's appeal next year, analysts predict. According to the World Gold Council, this year the Fed is expected to cut about 40-50 basis points in long-term interest rates. After cutting interest rates by 75-100 points, gold prices may increase by 4%. Although the Fed has not yet ruled...
I'm just shooting a guess here. During consolidation downtrends, we expect the price to touch the downtrend and come down. But the price action is seemiling quite bullish. The last couple of candles formed have established somewhat a strong support with a potential W FOrmation... So if the price breaks above the neckline, we could see a bit of strength for...
During the January 2 session, market expectations of the Fed cutting interest rates and geopolitical tensions in the Middle East continued to increase the safe-haven appeal of gold. However, the increase in the DXY index and government bond yields of all terms (with the 10-year yield increasing to 3.93%) may restrain the current upward momentum of precious metals....
EUR/USD Short • If price corrects and a three touch tight flag forms, then I'll filter it on the fifteen minute chart and be looking to get short with a risk entry within it after either a high test or a retrace candle. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity...
With the first trade working out on the USDJPY with the move from resistance of the top of the channel to the bottom with bearish RSI divergence its now setting up for another move to the downside with a break of the upward channel. For the second trade I am now looking for a retest of the break, there is some very good support with two trendlines converging...
The S&P U.S. Global Manufacturing Purchasing Managers' Index (PMI) for December fell below investor expectations on Tuesday, sliding to a four-month low of 47.9 vs. The forecast level is stable at 48.2 from November. Market appetite is distorted by erroneous data and investors are starting to temper expectations for interest rate cuts from the US Federal Reserve...
The Dollar Index is rising as expected and could test the 102.50 level while the Euro could fall to 1.0950-1.09. EURJPY looks bearish towards 155/154 while USDJPY has rebounded and could test the 143 level now, contrary to our expectations of a fall to 140-138. USDCNY is rising towards our mentioned target of 7.15/16. The Australian Dollar is heading towards...
Gold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last...
The GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session...
cadastral risks in the Middle East and the expectation that the Fed will maintain the current situation, this increases the attractiveness for However, the increase in USD and government bond yields across all terms could weaken the upward momentum of XAU/USD. The market is focusing on the US PMI report published tonight. On the D1 frame, the key resistance to...
As all investors anticipate for the upcoming Non Farm Payroll on Friday, the Dollar gains its strength on the 2nd day of 2024. Trading at 102.10, the US Dollar experienced a significant increase, indicating a noteworthy uptrend in the index. This upward shift can be attributed to market anticipation for guidance and investors turning to the USD as a safe haven in...
Gold has had wild swings in 2023, rising about 15% from the beginning of the year to May, then falling 13% in October before rising nearly 19% to create a record high in early December. Currently, there are many factors that may affect and cause gold prices to continue to increase in Q1, 2024. Weakness of the USD Gold has an inverse relationship with US...
Gold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last...
XAU/USD could maintain its upward momentum on the last trading day of the year and attract additional buying in 2024. Yesterday, gold closed below ascending regression channel resistance at $2,084. However, buyers may be more cautious, but a slight increase in the RSI and remaining above 60 will still reinforce gold's positive outlook. If resistance at $2,100 is...
OANDA:EURUSD EURUSD (H4) Sell now (1.1113) Stop loss at 1.11450 TP 1 at 1.10430 TP 2 at 1.10100 Divergence of RSI Note: Capital management 2%
The dollar crept higher on the first trading day of the year as attention turned to economic data this week that may provide clues on the Federal Reserve's next moves, while bitcoin surged ahead of $45,000 for the first time since April 2022. The dollar index DXY , which measures the U.S. currency against six rivals, fell 2% in 2023, snapping two years of gains....
Gold prices (XAU/USD) have extended their correction but consolidation is likely due to light trading activity. More broadly, precious metals could continue on a positive trajectory as bets in favor of an early Federal Reserve rate cut are firming as labor market conditions ease. and a clear downward trend in core inflation. This reduces the opportunity cost of...
EUR/USD Short • If price impulses down below our most recent correction on the one hour chart and a subsequent tight flag forms, then I'll filter the latter on the fifteen minute chart and be looking to get short with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to...