USDJPY edged lower on Wednesday, stepping off its multi-decade high established in the previous session when the pair hit 154.78. Should the downturn reversal gain momentum later this week, support can be spotted at 153.20 and 152.00 thereafter. Below these levels, 150.80 may become a focal point. Conversely, if USDJPY resumes its rally, resistance looms at...
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...
US DOLLAR FORECAST – OANDA:USDJPY - U.S. dollar loses ground on Monday ahead of high-impact events later in the week - Core PCE data and Powell’s speech on Friday will be the center of attention - This article examines the technical outlook for USD/JPY The dollar fell slightly on Monday, but losses were limited by higher U.S. Treasury yields. Traders took...
OANDA:USDJPY FORECAST - TECHNICAL ANALYSIS USD/JPY traded within a confined range on Thursday, lingering just below overhead resistance at 152.00. This technical barrier warrants close attention, as a breakout might prompt intervention from the Japanese government to support the yen. Should such a scenario unfold, a rapid reversal below 150.90 could occur ahead...
the gold market this year has essentially only seen upside. since all time highs theres been a run on available contracts during a contraction that has ended suddenly. it appears that todays rally has been sustained, and the uptrend in futures has all but resumed according to a credit liquidity crunch and bear dollar environment. according to tv alerts, forex...
Trading Plan for Thursday, April 25th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control. Key Supports Immediate Supports: 5088-92 (major), 5082, 5077 (major), 5067 Major Supports: 5054-57 (major), 5033-36 (major), 5005-10 (major), 4966 (major) Key Resistances Near-term Resistance: 5104 (major), 5115-20 (major), 5133-36 (major),...
AUDNZD entered into a period of consolidation as prices eased in the form of a bull flag pattern. After yesterday’s close, a bullish continuation appears on the cards for the pair despite today’s intraday pullback from the daily high. A move below 1.0885 suggests a failure of the bullish continuation but as long as prices hold above this marker, the longer-term...
This week, OANDA:XAUUSD increased mainly due to escalating tensions between Iran and Israel. Gold prices recorded a fifth consecutive week of gains, the longest winning streak since January 2023. Despite strong gains in the dollar and bond yields, expectations of an interest rate cut in 2024 have faded. decline. Israel's response comes a week after Iran's...
On a today's live stream, we spotted a very bullish pattern on WTI Crude Oil: inverted head and shoulders formation after a test of a key horizontal support. We see a confirmed neckline breakout of the pattern. It increases the probabilities that the market will go up now. Target - 84.5 ❤️Please, support my work with like, thank you!❤️
Trading Plan for Wednesday, April 24th, 2024 Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day. Key Supports Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067 Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49...
EURGBP rallied earlier in the week but reversed its course on Thursday after failing to clear trendline resistance at 0.8570, with prices dropping towards the 50-day simple moving average at 0.8550. The pair is likely to stabilize around current levels before mounting a comeback, but in the event of a breakdown, a dip towards 0.8520 and potentially 0.8500 could be...
EUR/GBP rose unusually on Friday as risks of a broader conflict between Israel and Iran eased. In addition, it is seen that inflation will decrease sharply to the target level in the coming months, sending a dovish signal to the market. The bank needs to remain restrained in its policy stance. However, he echoed Ramsden's comments by saying that the committee is...
Trading Plan for Tuesday, April 23rd, 2024 Market Sentiment: Uncertain, with bulls and bears battling at key resistance after yesterday's recovery day. Key Supports Immediate Supports: 5040 (major), 5032, 5020 (major) Major Supports: 4996 (major), 4959 (major), 4938 (major), 4903 (major) Key Resistances Near-term Resistance: 5057 (major), 5081 (major), 5102...
OANDA:XAUUSD ANALYSIS - Gold spiked higher, falling narrowly short of the all-time high - FX markets captured the flight to safety while US equity markets were shut - Gold volatility index eyed ahead of the weekend OANDA:XAUUSD SPIKED HIGHER, FALLING NARROWLY SHORT OF THE ALL-TIME HIGH Gold prices surged on Friday morning following reports of an Israeli...
Trading Plan for Monday, April 22nd, 2024 Market Sentiment: Uncertain, with bulls and bears at a crossroads. Geopolitical risks remain a factor, and market reaction to earnings reports and economic data will be crucial. Key Supports Immediate Supports: 4996-5000 (major), 4990, 4975 (major), 4966 Major Supports: 4958 (major), 4937 (major), 4904-08 (major),...
OANDA:XAUUSD continuing to adjust after approaching the original price of 2,400 USD, the target price increase noticed by readers in yesterday's publication is also a resistance that causes gold prices to adjust but overall it does not change. trend with the expectation of entering the accumulation phase. Iran said its military is ready to respond to any...
OANDA:XAUUSD spot delivery suddenly increased sharply. Spot gold has just increased to 2,415 USD/ounce, it has increased more than 35 US Dollars during the day. Previously, US media reported that the US confirmed that an Israeli missile hit an Iranian facility. The most active gold futures contract on COMEX was 1,426 lots traded within one minute from 08:43 to...
Although the dollar and US Treasury yields rose as US retail sales rose more than expected in March, tensions in the Middle East boosted safe-haven demand, and at the same time, the market Expecting that the Federal Reserve will be able to delay interest rate cuts this year, gold prices did not extend last week's decline but continued to increase. Iran launched...