JohnHarry66

JohnHarry66 Updated 

The Japanese Yen (JPY) gains against the US Dollar (USD) on Tuesday, reaching its highest level in over two weeks as the broadly weak Greenback remains under pressure amid fiscal uncertainty and dovish Federal Reserve (Fed) expectations. USD/JPY slips toward 143.00 as broad US Dollar weakness drives gains in the Yen. US–Japan trade talks stall as Tokyo resists...

JohnHarry66

The GBP/JPY pair, on January 24th, navigated through a complex landscape of economic data and market sentiment. Trading at 188.183, it remained stable with no significant change in percentage terms. The pair is hovering around a critical pivot point at 187.50, a level that defines its immediate trajectory

JohnHarry66

EUR/USD preserves its bullish momentum and trades at highest level since September 2021 above 1.1800 on Tuesday. The broad-based selling pressure surrounding the US Dollar helps the pair extend its uptrend as market focus shifts to Lagarde and Powell's comments on the policy outlook.

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The Gold price trades in positive territory on the day. Technically, the precious metal keeps the bullish vibe on the daily chart, with the price holding above the key 100-day Exponential Moving Average (EMA). However, in the near term, the 14-day Relative Strength Index (RSI) is located below the midline near 41.50, suggesting further downside looks favorable....

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From a technical perspective, the formation of an ascending channel points to a well-established short-term uptrend and favors bullish traders. Moreover, positive oscillators on the daily chart suggest that any intraday slide is likely to be bought into and remain limited near the $3,345 area, or the lower boundary of the trend-channel. A convincing break below...

JohnHarry66 Updated 

From a technical perspective, the formation of an ascending channel points to a well-established short-term uptrend. Adding to this, positive oscillators on the daily chart back the case for the emergence of dip-buying, which should help limit the downside for the Gold price near the $3,340-3,335 area, or the lower boundary of the trend channel. A convincing break...

JohnHarry66

From a technical perspective, the recent move higher witnessed over the past month or so has been along an upward-sloping channel. This points to a well-established short-term uptrend, which, along with the fact that oscillators on the daily chart are holding in bullish territory, validates the near-term positive outlook for the Gold price. Hence, a subsequent...

JohnHarry66

Gold price retreats slightly from the daily top and trades with a mild positive bias, above the $3,350 level in the second half of the European session on Friday. The US Dollar gains some positive traction and moves away from its lowest level since April 22 set on Thursday, as markets gear up for the crucial US NFP report.

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The EUR/USD pair trades around 1.1430, and despite the intraday retracement, the risk remains skewed to the upside, according to technical readings in the daily chart. EUR/USD holds above all its moving averages, with the 20 Simple Moving Average (SMA) turning modestly higher at around 1.1290 and well above the longer ones. The 100 SMA, in the meantime, extends...

JohnHarry66

Gold price attracts fresh sellers in the vicinity of the $3,385 region, or a multi-week high touched on Tuesday and erodes a part of the previous day's modest gains. The downtick is sponsored by a slight US Dollar recovery, which tends to undermine demand for the commodity. However, a combination of factors might continue to act as a tailwind for Gold. Xauusd buy...

JohnHarry66

EUR/USD continues to hold comfortably above its 200-day simple moving average (SMA) at 1.0817, suggesting the broader uptrend remains intact. Key resistance levels lie at the YTD high of 1.1572 (April 21), followed by the 1.1600 round level and the October 2021 peak at 1.1692 (October 28). Support comes in at the temporary 55-day SMA at 1.1192, with further...

JohnHarry66 Updated 

From a technical perspective, the emergence of dip-buying on Wednesday comes on top of this week's breakout through the $3,324-3,326 barrier. Moreover, oscillators on daily/hourly charts are holding comfortably in positive territory and suggest that the path of least resistance for the Gold price is to the upside. However, any subsequent move up could face some...

JohnHarry66

Still well-supported above its 200-day simple moving average (SMA) at 1.0816, the near-term outlook for the pair appears constructive. The YTD high at 1.1572 (April 21) marks immediate resistance, followed by the 1.1600 milestone, and the October 2021 top comes at 1.1692 (October 28). On the downside, temporary support emerges at the 55-day SMA at 1.1183, then...

JohnHarry66

The US ISM Manufacturing PMI figures released on Monday confirmed that trade uncertainty is taking its toll on the sector. The PMI declined for its third consecutive time, against expectations of a slight improvement. The employment and new orders subindexes ticked up, with prices declining and delivery times increasing, and rising concerns about potential...

JohnHarry66

Following these mixed remarks, GBP/USD finds it difficult to attract buyers. In the second half of the day, the US Bureau of Labor Statistics will publish the JOLTS Job Openings data for April. A noticeable increase in this data, with a reading of 7.7 million or higher, could support the USD with the immediate reaction and cause GBP/USD to extend its correction....

JohnHarry66 Updated 

From a technical perspective, the overnight breakout through the $3,324-3,326 hurdle and a subsequent strength beyond the $3,355 area was seen as a key trigger for the XAU/USD bulls. Moreover, oscillators on daily/hourly charts are holding comfortably in positive territory and suggest that the path of least resistance for the Gold price is to the upside. Hence,...

JohnHarry66

EUR/USD keeps the red below 1.1450 in European trading on Tuesday. The US Dollar recovers its ground on technical correction, despite growing trade and economic concerns due to Trump's tariffs flip-flopping, weighing on the pair ahead of the EU inflation and US JOLTS data.

JohnHarry66

As for USD/JPY pair, last week's failure near the 61.8% Fibonacci retracement level of the recent downfall from the monthly peak and a subsequent fall below the 200-period Simple Moving Average (SMA) on the 4-hour chart favors the bears. This, along with negative oscillators on daily/hourly charts, suggests that the path of least resistance for spot prices remains...