Yellow metal witnessed its strongest week in the last year to set a bullish tone for the coming week. However, it is worth noting that coupled with the fact that price action is within a long-term bearish momentum, the price is still trading below the $1,800 level - a level that was broken to the downside by sellers in July. Judging by what has been happening...
Buoyed by a weak US dollar, the Australian Dollar keeps rallying to close the week on a bullish tone. Going into the new, all eyes shall be on the RBA meeting minutes, Unemployment Rate, and Employment change to decipher if a breakout of the 0.67000 level will happen or not. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity...
This is a follow-up detail to my previous analysis where we close the week on a profitable note (see the link below for reference purposes). The US CPI weighs on the US Dollar as the EURUSD surged with about a 4% gain to close the week on a bullish tone; However, in addition to the high-priority event coming up in the new week (stated in the video), it is worth...
It is fact that WTI crude oil gained about 10% in October following the OPEC+ decision to cut oil production but it doesn't appear that decision is making a significant impact as the price is unable to break out of the $93.50 area in the last couple of weeks. From a technical standpoint, price action is caught within a consolidation phase between the $93.50 and...
The Pound appreciates to fresh new highs as price tested the $1.1800 area at the end of last week's trading session. Despite the UK Gross Domestic Product exhibiting a 0.2% contraction, the Pound was still able to rally approximately 5% growth in a week and this could be a result of the US CPI which slowed down to a 7.7% yearly rate in October - not too good...
We have been on a profit spree since taking advantage of the breakout of the most anticipated key level at the $86.00 zone. On Friday, we witnessed a 5% rally in the price of oil, and this is not unconnected to China's decision to ease the COVID-Zero policy and the market overreacted accordingly. Remember, China is the largest importer of Oil hence the ability to...
Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information...
Dest the long-term bearish momentum on the XAUUSD, the $1,620 level has continued to hold buying pressure in the last couple of months to insinuate the possibility of a momentum shift in the nearest future. The US Dollar plunged on Friday despite the United States adding 261,000 jobs last month in its October non-farm payrolls report and from a technical...
The breakdown of both the key level at 1.14000 level and the bullish trendline during the course of last week's trading session might be a sign that the sellers still have a say in this market. Though, the Pound rallies 1.9% on the last day to close the week near 1.1400, with this development I am of the opinion that we remain patient to see how the price will be...
Following the bullish engulfing candle on Friday, the Euro has a tendency to reach new highs in the coming week only if a significant breakout of the $1.000 level happens. However, we can not ignore the possibility of a possible bearish momentum considering the fact that the price has been trading below the $1.0000 level in the last couple of months. Risk...
This is a follow-up detail to my previous analysis of this commodity where we closed the week with approximately 200pips profit. Oil prices plunged about 1% on Friday after top crude oil importer China widened its COVID-19 curbs, though the price of oil rose during the course of last week's trading session after a significant breakout of the much anticipated...
After scooping over 5,000 pips profit from last week's trading, the price is at a critical level as we witness buying pressure around the $1,640 level during the latter part of last week's trading session to insinuate a potential bullish momentum. In anticipation of a week laced with many high-impact events, the price of Gold price slid and extends its losses and...
We closed last week's trading with about 100 pips as the much anticipated $1.14000 level was finally broken by the buyers to set the tone for a bullish momentum in the coming week(s). The GBPUSD is moving higher and it's looking to go all out in the nearest future if the price can break out of the $1.1800 level. However, we can not ignore the possibility of a...
The last 3 - 4 weeks have seen prices continue to climb hereby finding uniform higher highs and higher lows which culminated at the breakout of the $1.0000 area during the course of last week's trading session. Will the breakout of the key level at the $1.0000 mark be a true or false one? As we look forward to a variety of high-impact events for the week, we will...
Following the buying pressure at the 147.000 zone, the greenback rallied during the latter part of last week's trading session to insinuate a potential bullish expectation in the coming week(s). The dovish rhetoric of the BoJ’s monetary policy appears to have caused a plunge which makes it uncertain to jump to any major conclusion at this juncture. However, it is...
The U.S. dollar appears to be handing back some of its gains as buying traction was predominant during the course of last week's trading session. It is also worth noting here that the Dollar Index, which tracks the Greenback against a basket of major currencies fell by 0.1% to suggest the possibility of a retracement in the nearest future. Will the breakout of...
With the identification of a reversal pattern above a strong demand zone in the 4H timeframe, I am of the opinion that we might be witnessing buying traction during the course of the new week's trading session. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all...
This is a follow-up to our previous analysis where we were able to close the week with over 3,000pips in profit (see daily commentaries in the link below for reference purposes). Going into the new week, it is obvious that the yellow metal gained some bullish traction towards the end of the week, rising more than 1% on Friday as the dollar weakened amid reports of...