Hello all traders! The EUR/USD pair traded in the negative zone for the third consecutive day around 1.0835 during the trading session on Thursday. According to the assessments from the technical picture outlook, after forming a head and shoulders pattern, the price fell as expected and could fall further if the price breaks below the two dynamic resistance...
Gold prices continue to fall as investors turn their attention to US economic data due this week for fresh clues on the timing of a central bank rate cut. If GDP or core PCE figures, excluding energy and food prices, are positive, gold could come under pressure as the US dollar strengthens. Technically, after the last wave yesterday reached 2430, the price...
Darius, hello everyone! GBP/USD continues its downtrend today, with the pair recently breaking below the key support level of 1.2900. The price action is well below the bearish 34 and 89 EMAs, reinforcing the bearish outlook. Trading Strategy: Short positions could be considered on a retest of 1.2900, which is currently acting as resistance. Place a stop loss...
NESTLE fut broke out of harmonic patterns chart on an hourly chart with very good OI build up suggesting long build up. Could be bought with mention stoploss & targets.
Canfinhome fut broke out of flag pattern on daily charts with decrease in OI suggesting shortcovering. Risk:Reward = 1:3 Could be bought with mentioned stoploss & target.
On 08-Jul-2024, the NiftyBank Index exhibited a consolidation pattern with a slight bullish inclination towards the closing hours. Key levels were established, including a strong resistance zone around 53,521 and a significant support zone around 52,126. The market showed signs of indecision, indicating potential volatility for the upcoming session. Trading...
DABUR fut is on the verge of breaking out triangle pattern on hourly charts with good OI build up suggesting long build up. Risk:Reward = 1:2.5 Could be bought with mentioned stoploss & target.
PEL FUT is on the verge of breaking out of ascending triangle pattern above 935.10 on an hourly charts wih decent OI. Very good Risk:Reward. Could b bought above breakout level with mentioned stoploss & targets.
Hello everyone, Brian here. What do you think—should we buy or sell gold today? In the short term, gold has paused its downward movement and is adjusting above $2310, gaining over $10 for the day and establishing support around $2300. However, the larger timeframe still favors the sellers, so we’re considering selling XAUUSD again, with key resistance levels to...
The USD/JPY exchange rate has shown an upward trend after breaking above the 159.00 level, sparking concerns that the Japanese government or the Bank of Japan (BoJ) might intervene in the forex market. With the Relative Strength Index continuing to rise, the momentum is currently in favor of buyers. Should USD/JPY surpass the psychological barrier of 160.00, the...
The Japanese Yen (JPY) extends its gains for the second consecutive session on Tuesday. The USD/JPY pair remains within touching distance of the 160.00 level that recently pushed Japanese authorities to spend billions of dollars in Yen-buying intervention, per Reuters. Japan’s Corporate Service Price Index (YoY) rose 2.5% in May, slowing from a 2.7% increase in...
Gold prices (XAU/USD) traded in positive territory on Tuesday despite a weaker greenback. A stronger-than-expected US purchasing managers index (PMI) released last week prompted Federal Reserve (Fed) officials to push back the timing of their first interest rate cut this year. , this continues to limit gold's upward momentum. However, safe-haven flows due to...
Dear traders! EUR/USD edged up in a slight recovery after falling to 1.0670 last Friday. The new trading week is starting with risk appetite pushed higher, sending the US Dollar lower and strengthening the Euro as investors head into a relatively quiet Tuesday. In the near term and according to the 4-hour chart, risks are increasingly turning to the downside....
Dear traders! Gold price today decreased slightly, trading around 2,326 USD, emphasizing a decrease of 10 USD. It is worth noting that gold weekdays will be less volatile until the end of this week's May US core personal consumption expenditures index report is released, if weaker data could increase The possibility that the US Federal Reserve (Fed) will soon cut...
Dear traders! GBP/USD traded in the green above 1.2650 in the second half of Monday. After outperforming rivals on upbeat PMI data on Friday, the US Dollar remained firm amid a positive change in risk sentiment, allowing the pair to extend its recovery.
Dear traders! EUR/USD struggled to attract any meaningful buyers and was weakened by a combination of factors. Political uncertainty in Europe, coupled with Friday's dismal Eurozone PMI, appears to be weighing on the Euro. The Fed's relatively hawkish stance lifted the USD to multi-week highs and continues to act as a headwind.
Dear traders! Gold prices are falling early Monday after seeing a sell-off of more than 1% on Friday. Gold traders are now looking forward to a series of speeches from US Federal Reserve policymakers later on Monday to signal the new policy and its impact on the USD. Despite the triangle breakout confirmed last Thursday, Gold prices were unable to extend the...
Hello traders. Let's discuss and strategize! Gold prices are forecast to stabilize this week when there is little important data released in the middle of the week. The most awaited information by the market is the core personal consumption expenditure index report (the US Federal Reserve's (Fed) preferred inflation measure) expected to be published at the end of...