OANDA:XAUUSD ANALYSIS
- Now that the risk of a broader conflict in the Middle East has subsided, gold attempts bulls look to a softer dollar to prop up prices
- Gold (XAU/USD) attempts to lift off of support at $2320
OANDA:XAUUSD BULLS LOOKS FOR INSPIRATION IN THE DOLLAR AFTER TENSIONS SUBSIDE
Implied gold volatility (GVZ) has experienced a notable drop...
💹 Let's dive into analyzing this cryptocurrency coin for trading in lower time frames.
💰 In the weekly timeframe, we're still within a weekly box, and we've faced heavy rejection from the box's ceiling and weekly resistance. We're seeing red candles, and one of the reasons for this event is the correction in Bitcoin and the short-term conflict between Iran and...
The US dollar surged on Wednesday due to higher-than-expected US inflation numbers. This led to USDJPY reaching new highs for 2024 and its strongest level since 1990. The March Consumer Price Index report showed persistent inflation in the North American economy, reducing expectations for a June FOMC rate cut. Headline CPI increased by 3.5% YoY, surpassing...
The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation.
The near-term appeal of the precious metal remains weak as tensions in the Middle East ease and safe-haven demand weakens.
The gold market has been less affected by the escalating conflict in the...
After enduring notable losses last week, EURUSD steadied and mounted a modest comeback over the past few days, rebounding off the psychological 1.0600 level and pushing past the 1.0650 mark. If the pair continues to recover in the coming days, resistance is expected at 1.0695 and 1.0725 thereafter. On further strength, all eyes will be on 1.0820.
Conversely,...
US GDP data for the first quarter of 2024 was lower than expected, increasing speculation that the Federal Reserve may reduce borrowing costs. However, inflation has risen sharply over the same period, which will delay the Fed's interest rate cuts.
The U.S. Bureau of Economic Analysis reported on Thursday that U.S. gross domestic product (GDP) grew 1.6%...
At the latest policy meeting, the ECB decided to keep interest rates unchanged but left no doubt about its intention to move to more easing. The guidance prompted traders to increase bets that the organization led by Christine Lagarde will launch an easing campaign at the next monetary policy meeting in June.
The prospect of the ECB being ahead of the Fed on...
OANDA:EURUSD NEWS AND ANALYSIS
- ECB officials eye June meeting for first rate cut, SNB delivers a surprise cut
- Dollar drop appears short-lived as EUR/USD heeds resistance
ECB OFFICIALS EYE JUNE MEETING FOR FIRST RATE CUT, SNB DELIVERS A SURPRISE CUT
Despite the EU and US having different growth prospects, the ECB remains cautious about cutting rates....
OANDA:EURUSD FORECAST - TECHNICAL ANALYSIS
EUR/USD jumped on Wednesday, with bulls seemingly determined to challenge trendline resistance at 1.0950 after the FOMC announcement. In the event of a retest, sellers will need to fend off the advance; otherwise, there will be minimal obstacles to a rally towards 1.0970, a key Fibonacci level.
Alternatively, if upside...
GBPUSD mounted a moderate comeback on Wednesday, bouncing off support in the 1.2430 region. If the pair extends its rebound in the coming trading days, resistance awaits at 1.2525, followed by 1.2575 near the 200-day simple moving average. On continued strength, the next key level to watch is 1.2645.
Alternatively, if sellers return and trigger a market selloff,...
BULLISH US DOLLAR FORECAST OANDA:EURUSD
- The mighty dollar is back as CPI data impacts policy paths
- EURUSD at risk after the ECB laid out the conditions for lowering rates
THE MIGHTY DOLLAR IS BACK AS CPI DATA IMPACTS POLICY PATHS
The US dollar is back in the FX market following strong CPI data, leading to a reevaluation of the world's reserve...
OANDA:GBPUSD ANALYSIS AND CHARTS
- GBPUSD edged back into the green Tuesday
- The UK’s March PMI saw upward revision, signaling the first growth in twenty months
The British Pound slightly rebounded against the US Dollar on Monday due to unexpected strength in domestic manufacturing. However, the Pound remains below last week's trading range against the...
OANDA:XAUUSD have fallen sharply from recent highs due to the impact of reduced geopolitical risks and a stronger US Dollar. Federal Reserve officials, including Chairman Powell, have maintained a hawkish stance on interest rates, which has weighed on gold prices. Sentiment has changed as expectations for a Fed rate cut were revised to a potentially longer than...
OANDA:XAUUSD stabilized after hitting a more than two-week low as concerns about escalating tensions in the Middle East subsided, while investors await key economic data to further clarify the timing of US interest rate cuts. America.
Israel stepped up its attacks on the Gaza Strip, its worst shelling in weeks, but fears of a wider conflict eased after Iran...
Gold prices recovered losses but remained near $2,320 early Thursday. Fresh weakness in the US Dollar and US Treasury yields allow Gold buyers to breathe a sigh of relief. Gold prices remain vulnerable amid Middle East escalation, waiting for US Q1 GDP data.
Gold prices steadied on Wednesday below the key 21-day simple moving average (SMA), then at $2,318,...
Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached.
On the flip...
During the Asian session on Monday (April 22), spot gold had a gap and opened lower, falling to a low of $2,370/ounce as of press time. Gold is mainly under pressure because tensions around Israel and Iran appear to have cooled, which has eased risk aversion, thus putting pressure on gold prices.
On April 19 local time, Israeli Army Radio said Israeli security...
POUND STERLING ANALYSIS
- Sterling in focus ahead of lower anticipated UK inflation – BoE up Next
- OANDA:GBPUSD falls back into prior trading range as USD maintains bid
STERLING IN FOCUS AHEAD OF LOWER ANTICIPATED UK INFLATION – BOE UP NEXT
UK inflation, expected to drop before the Bank of England's monetary policy update, is crucial for achieving the...
