RichDadph-FX

RichDadph-FX

The XAU/USD pair shows a potential buying opportunity as Gold price receives support from various factors, including US debt ceiling concerns and Powell's less hawkish remarks. However, it's essential to stay informed about market developments and adjust the trade plan accordingly. TRADE IDEA DETAILS CURRENCY PAIR: XAU/USD (Gold/US Dollar) CURRENT TREND:...

RichDadph-FX

Gold is expected to continue its upward trend based on the analysis provided by UBS economists. Factors such as central bank demand, broad US Dollar weakness, and potential safe-haven flows during a US recession support the buy signal for XAU/USD. Traders should closely monitor market conditions, including any developments that may impact the US Dollar or global...

RichDadph-FX

Gold prices are struggling to maintain their week-start corrective bounce as mixed sentiment and anxiety over top-tier US data and debt ceiling talks weigh on XAU/USD buyers. However, the US Dollar bears have taken a breather amid hawkish Federal Reserve talks. Additionally, China's economic report indicates that economic growth is set to rebound sharply,...

RichDadph-FX

Gold price (#XAUUSD) has faced mixed sentiment and sluggish US dollar ahead of the US inflation data. Despite the challenges, the progress on the US debt ceiling negotiations and optimism surrounding Asia have underpinned the #XAUUSD run-up. Technical analysis suggests that the upper band of the Bollinger on the daily chart joins Pivot Point one-day R2 and the...

RichDadph-FX

As of the late New York session, most major cryptocurrencies have been experiencing volatility. Bitcoin (BTC) was trading below the key $28,000 level, changing hands at $27,604, up 0.6% in the past 24 hours. BTC swung between a day's high of $27,821 and a day's low of $27,310

RichDadph-FX

The current market conditions for the #AUDUSD pair are mixed, with a number of fundamental factors impacting its performance. While the RBA's surprise interest rate hike provides some support for the Australian dollar, the mixed Chinese trade data, risk-off sentiment, follow-through USD buying, and less hawkish outlook from the Fed are exerting downward pressure...

RichDadph-FX

The #EURUSD pair is currently trading in a sideways trend above the critical support level of 1.1000. The US Dollar Index (DXY) is also looking vulnerable above 101.20, indicating a possible uptrend for #EURUSD. Last week, the European Central Bank (ECB) announced an interest rate hike of 25 basis points (bps), and the ECB President, Christine Lagarde, kept the...

RichDadph-FX

The Ivey Purchasing Managers Index (PMI) in Canada, which measures the month-to-month variation in economic activity, dropped to 56.8 (seasonally adjusted) in April from 58.2 in March. However, this was a smaller drop than the market had expected, with the consensus forecast at 54.8. Following the release of the data, USD/CAD initially moved towards daily lows but...

RichDadph-FX

The EUR/USD currency pair experienced a corrective decline and revisited the key level of 1.1000. However, it encountered solid support and bounced back afterwards. The Chairwoman of the European Central Bank (ECB), Christine Lagarde, stated in a press conference that inflation pressures remain strong and wage pressure is increasing. Many Board members suggested a...

RichDadph-FX

The USD/CHF pair is expected to extend its weakness towards 0.8900 amid weak appeal for the USD Index as a safe-haven. Investors are dumping US equities amid uncertainty over the interest rate policy of the Federal Reserve. Moreover, the market mood is quite risk averse as a raise in the debt ceiling will impact the long-term outlook of the US economy. TRADE...

RichDadph-FX

The AUD/USD pair is expected to remain volatile in the near term, with traders focusing on the FOMC meeting and the US economic docket. While the RBA's rate hike has boosted the Australian dollar, the USD pullback and concerns over the US debt ceiling and banking crisis are limiting the downside for the pair. TRADE IDEA DETAILS: CURRENCY PAIR: #AUDUSD CURRENT...

RichDadph-FX

EUR/USD has broken the downward trendline resistance, indicating a bullish trend. The short-term trend is bullish, and upside momentum has been activated. The major currency pair will capture more gains after a decisive move above the intraday high of 1.1030, which will drive it towards the round-level resistance at 1.1100. If the latter is breached, it will...

RichDadph-FX

The GBP/USD pair struggles to defend the first daily gains in three, retreating from its intraday high. Bearish MACD signals and cautious mood ahead of the Federal Open Market Committee (FOMC) monetary policy meeting announcements weigh on the GBP/USD. TRADE IDEA DETAILS CURRENCY PAIR: #GBPUSD CURRENT TREND: ↗️Bullish TRADE SIGNAL: ↗️Buy 👉ENTRY PRICE:...

RichDadph-FX

The USD/JPY pair has surged to near the crucial resistance of 135.00 after the Bank of Japan (BoJ) announced a continuation of ultra-loose monetary policy and stability in Japanese Government Bonds’ (JGBs) yields band to maintain an expansionary policy stance. BoJ Governor Kazuo Ueda has confirmed that the central bank will take additional easing steps without...

RichDadph-FX

The GBP/JPY pair is currently in a neutral trading stance within the 12-day-old trading range. The pair needs to break out of the current range for a clearer directional bias. Traders should remain cautious and monitor the price action for potential opportunities. On the Pound Sterling front, higher interest rates by the Bank of England (BoE) are creating more...

RichDadph-FX

The NZD/USD currency pair has rebounded above the 0.6150 level, breaking its two-day downtrend at a six-week low. The recent rise in the Kiwi pair is largely attributed to the mixed catalysts at home, along with the broad weakness in the US dollar. The upcoming US Q1 GDP release is crucial for NZD/USD traders to watch. The market expects the GDP to ease to 2.0%...

RichDadph-FX

The surge in gold price is due to a combination of factors, including the US debt-ceiling talks, the upcoming Federal Reserve (Fed) policy meeting, and the uncertainty surrounding interest rates. Investors should also take note of the technical analysis of gold, which indicates a neutral triangle pattern and a consolidation period. As always, investors should...

RichDadph-FX

The #AUDUSD pair is currently in a bearish trend after breaking down from an Inverted Flag chart pattern. The consistently declining Australian Consumer Price Index (CPI) indicates that the Reserve Bank of Australia (RBA) will keep interest rates steady further, which may continue to pressure the Australian dollar. TRADE IDEA DETAILS CURRENCY PAIR:...