Bitcoin (BTC) has breached the resistance level of $38,008, though not decisively, trading at $38,139 at the time of writing. There is still potential to extend towards the higher range at $38,414 or, in the case of a strong uptrend, reach $40,000. The Relative Strength Index (RSI) is moving upwards and is about to cross above the signal line (yellow band)....
Bitcoin's price surged to a local high of $38,400 on November 24, before retracing to $37,300 at the beginning of Monday. According to Santiment data, the late October to early November price increase of this asset was driven by an increasing supply of stablecoins on exchanges. A similar outcome is expected as stablecoin dominance continues to decline. The rising...
Gold (XAU/USD) remains above $2,000 in the early Asian trading hours on Monday. The yellow metal's rebound is driven by expectations that the U.S. Federal Reserve (Fed) won't raise interest rates further. At the time of writing, the gold price is trading near $2,001, down 0.04% on the day. Meanwhile, the U.S. Dollar Index (DXY), measuring the USD against a basket...
Gold price (XAU/USD) faces challenges in capitalizing on the modest gains from the previous day and trades within a narrow range, below the psychological level of $2,000 in the first half of the European trading session. Investors appear hesitant to commit to a positive direction, seeking clearer insights into the Federal Reserve's (Fed) interest rate...
Bitcoin's price is currently in an upward trend, starting in November 2022. The asset has surged from $15,700 to its local high of $37,991 on November 15, 2023. BTC may encounter resistance around the psychological level of $40,000 in its ongoing bullish trend. The Exponential Moving Averages (EMA) at 10, 50, and 200 days stand at $36,918, $33,848, and $29,590,...
Technical Outlook for XAU/USD Gold experienced a swift decline during Wednesday's trading session, pulling XAU/USD back from the $2,000 level to test $1,990, dropping below the 50-hour Simple Moving Average (SMA). Despite Wednesday's price pullback, gold continued its upward momentum, with XAU/USD rising over 3% from the recent low near the 200-day SMA around...
The GBP/USD pair maintains a positive trend for the fourth consecutive day, trading around the 1.2535-1.2540 range in the Asian session, just below the highest level since September 9 touched the previous day. The immediate resistance at 1.2550 is seen against GBP/USD before 1.2600 (Fibonacci 50% retracement level from the July-October downtrend) and 1.2670...
The rapid decline in gold during Wednesday's trading session saw XAU/USD slip back from the $2,000 threshold to test $1,990, falling below the 50-hour Simple Moving Average (SMA). Despite the pullback on Wednesday, gold continues to advance, with XAU/USD up over 3% from the recent low near the 200-day SMA at around $1,931. The $2,000 level proves to be a...
Bitcoin's price continues to decline, but there's optimism following recent US Department of Justice actions that may pave the way for approving Bitcoin spot exchange-traded funds (ETFs). Analysts point out that one obstacle to approval is the dominance of the Binance exchange in the Bitcoin market, which has shown weakness, recording a 3% decrease for the day,...
Gold prices rallied, breaking above $2,000 in the early hours of Wednesday's Asian trading session. The surge in the precious metal was fueled by lower US Treasury bond yields and a weakened US dollar. Gold spot prices experienced a significant boost on Tuesday, rising from below $1,980 to near the crucial resistance level of $2,010. This upward momentum occurred...
The USD/JPY pair remains under selling pressure for the fourth consecutive day, reaching its lowest point since October 4 during the Asian trading session on Tuesday. However, the spot price has slightly rebounded in the past few hours and is trading around the 148.00 level. USD/JPY continues to trade near its lowest level in six weeks, extending losses to around...
The EUR/USD exchange rate has risen for the second consecutive day, surpassing the 1.0900 level. The upward trend remains intact as prices are holding above significant Simple Moving Averages on the daily chart. However, the Relative Strength Index (RSI) above 70 indicates overbought conditions. On the 4-hour chart, overbought conditions persist, but there are...
Bitcoin is currently hovering near crucial support at $36,788 after breaking into an extended supply zone from $36,276 to $37,301. To sustain the upward trend, prices need a decisive move above this level and surpass the resistance at $37,972. Until then, Bitcoin's upward potential is under threat, with the Relative Strength Index (RSI) showing no change. The...
Gold shows signs of recovery, surpassing the 20-day Simple Moving Average (SMA) at $1,975. To gain additional strength, XAU/USD needs to close above $1,975 on a daily basis. On the contrary, a consolidation and a daily close below $1,960 could indicate the potential for an extended correction. Looking at the 4-hour chart, technical indicators support the upward...
GBP/USD faces modest downward pressure, dropping to 1.2450 in European trading on Wednesday. UK CPI inflation fell to 4.6% YoY in October from 6.7% in September, causing the British Pound to lose ground. The pair struggles to find firm footing above the 1.2300 level on daily closing basis, potentially paving the way for an extended recovery toward the...
The current Bitcoin price is trading at $35,536, officially confirming a correction in the downward trend. The convergence of Moving Average Convergence Divergence (MACD) indicators shows bars extending below the 0 line, and the MACD line moving below the signal line, signaling the intersection in the official downtrend. The intensifying downward trend causes...
Gold prices show positive momentum for the third consecutive day, buoyed by the Fed's mild expectations. The weakening USD, nearing its lowest since September, further supports the precious metal. From a technical standpoint, any move beyond the overnight high around $1,970-$1,971 may encounter resistance near the $1,980 region. Further buying could push Gold...
USD/JPY rebounds from recent losses observed in the previous session following weaker-than-expected US inflation data. However, the pair trades slightly higher around 150.60 in Asian trading on Wednesday. The USD/JPY exchange rate fluctuates around 151.70 in Tuesday's Asian session. The pair holds near yearly highs and has the potential to surpass these levels if...