The price of gold has surged to an all-time high, reaching $2,354 as the Chinese market opened for trading. Traders responded positively, surprised by the strong buying activity from the People's Bank of China (PBOC) entering the gold market. However, this calls for caution, suggesting a need to wait for some consolidation in the short term or a modest pullback...
The price of Bitcoin (BTC) has attempted a surge over the weekend, surpassing the 68.000 threshold. If BTC continues to trade around this range and trends upwards towards the 69.000, it could encourage more buying pressure, pushing the price towards its previous peak of 73.777. The Relative Strength Index (RSI) is also a notable factor, as it currently indicates...
GBP/USD has failed to sustain its upward momentum against the USD, as the pair struggled to surpass the 1.2700 level. GBP/USD broke below the support zone from the previous week and reached its weekly low near 1.2540 on Tuesday. Despite a rebound and reaching a new high in two weeks at 1.2700, selling pressure persisted, pushing GBP/USD lower towards the end of...
The Japanese Yen (JPY) is striving to leverage its strength to reach its highest level in over two weeks. However, the strength of the US Dollar (USD) has prompted a strong recovery in the USD/JPY currency pair, surpassing the 151.00 threshold. This breakthrough indicates a short-term downward trend, as a crucial support level has been breached. Despite the...
After the Non-Farm report was released, the Euro experienced a slight decrease of 0.13% against the US Dollar, pushing the EUR/USD exchange rate down to 1.0800 after peaking at 1.0847 earlier in the day. On Friday, the US Bureau of Labor Statistics (BLS) revealed that the economy had added more jobs than expected. Nonfarm payroll increased by 303K, surpassing...
Although Bitcoin is currently experiencing a short-term decline, the possibility of a significant downturn should not be overlooked. If the price surpasses the crucial support level at 66,460, we may witness a deeper decline as the price continues to touch lower support zones. However, in this volatile scenario, examining charts and conducting technical analysis...
In a recent US session, the market witnessed a sharp correction in the GBP/USD currency pair as prices dipped below the crucial 1.2600 level. This pronounced decline was propelled by the strong surge of the USD, indicating robust growth and stability in the U.S. economy. The downward momentum was also reflected in technical indicators such as the Simple Moving...
During the first half of the European trading session, the Japanese Yen (JPY) experienced daily declines, reaching its lowest point in over two weeks against the US Dollar (USD). This downward movement was spurred by a significant strengthening of the USD, further supported by remarks from Federal Reserve officials overnight. Technical analysis based on...
The EUR/USD pair continues to experience declines, edging closer to the 1.0830 level during Friday's Asian trading session. Meanwhile, the USD remains stable, supported by market caution, although it faces the risk of being impacted by escalating geopolitical tensions in the Middle East. On the technical chart, the Simple Moving Average SMA 20 is trending...
The price of gold declined to $2,285 in the Asian trading session on Friday, following its record high above $2,300 in the previous session. This fluctuation reflects market dynamics amidst geopolitical risks in the Middle East and expectations of monetary policy easing from the Federal Reserve, which have fostered optimism for gold price growth. Technical...