Though GBP is under pressure because of UK political drama and higher inflationary pressure in 30 years, inflation rose to 5.4% yearly. But still GBP/USD in uptrend. Since the 8th of December, 2021, GBP/USD has been rising, so a downward correction is expected. If we take swing low at 1.3160 and swing high is 1.3750, then 1.3450/1.3460 s the Fibonacci 50%...
Fundamental Analysis Last week GBP/USD broke above the trendline resistance after hitting a swing high of 1.3750, and now GBP/USD is hovering nearly 1.3640 price zone. After breaking the above trendline resistance, it becomes strong trendline support. Right now, GBP/USD is hovering trendline support. The high swing GBP/USD has dropped more than 120 pips but...
Fundamental Analysis Gold is still holding its price above trendline support and below strong resistance at $1830/1832 price zone middle of trading today, Tuesday, January 18th, in the European session of the week, by about 0.20%, and is trading at levels of $ 1817 per ounce. Last week the USD was under pressure against all the major pairs. But at the beginning...
The dollar has posted its worst weekly performance in five months as it closes out the week. China's gross domestic product (GDP) is higher than expected is at the top of all of the other happenings this week. We will be keeping an eye on various data points throughout the week. It was the largest weekly loss in the general index of the US dollar since August...
Gold is an uptrend in the long time frame, like monthly and weekly. However, the market seems in range and bound in the daily chart. In the last week, inflation has risen, and the USA cannot print its retail and core retail sales positively. Even omicron is still spreading all over the world. This week Tsunami Tonga hits. So, it is clear that most of the...
After ten months of declining, at last, EUR/USD breaks above the trendline resistance. After breaking above 1.1425, it confirms breaking out the downtrend. The last time EUR/USD attempted to break the trendline resistance, it failed. Instead, it created triple top resistance at 1.1380/1.1400 price. Now the triple becomes strong support. Though fundamentally...
The dollar index breaks below the trendline support after a long time. Since 24th May 2021, the dollar index has been rising, but yesterday, after the CPI report was released, DXY dropped below the trendline. There is no doubt that technically it has started its downtrend after a long period. So now the question is, will DXY continue its downtrend, or may it...
Japanese yen became strong enough against the USD after the CPI report was released. Though the price index increased, it seemed not manageable, and the USD fell apart against all the major pairs. USD/JPY is hovering nearly the trendline support zone. 114.40/35 is immediate and trendline support; after breaking below 114.40/35 USD/JPY may drop more nearly 113.32...
The global economic growth downgrade by the World Bank has forced investors to focus on the U.S. inflation report today. Gold price is turning up as traders revert to profit-taking in response to a better market mood. As a result, the annualized CPI is expected to hit another 40-year high, arriving at 7% in December vs. 6.8% recorded previously. In addition,...
USD/JPY bounced off the one-week top yesterday and stayed firmer around its intraday high of late. This week, we've seen another missile test from North Korea, which may lead to further sanctions being put in place by the US. We also saw Fed Chair Powell testify at a hearing about economics and potential new measures to fight Omicron (a related virus). All this...
The pound has been dropping since June 2021. In the last six months, the pound has not been able to break the trendline resistance and support the trendline. Currently, the GBP/USD is hovering close to trendline resistance. More than 450+ pips have risen from trendline support in the last 20 days. That's why I am expecting that market may have some...
The Crypto market is under pressure. BTC has been dropping since November 2021. Since November last year, we didn't see any solid pullback for the upside. When the market started to drop in November last year, what expected that ahead of Christmas and new year, profit-taking may happen. But ten days have already gone in the new year, but investors have not yet...
The US labor market report was one of the most important economic reports last week. IN DECEMBER, the US economy added only 199k jobs where the market forecast was 426K. The unexpected and negative news about the employment data caused fears that the US economy slowed down. At the same time, rates came out saying that Unemployment and wage rates are better than...
Gold price continued to fall on Thursday, ending the previous sell-off and hitting eleven-day lows at $1,785. The gold market had been ridden by hawkish Fed outlook-led rallies in the US Treasury yields over the past few weeks. Wednesday's FOMC minutes surprised the hawks to the upside after it revealed that the policymakers discussed balance sheet run-off at...
Historically January is always a good month for the rising gold. Usually from mid-December till the end of February gold rises. This year also didn’t happen any exceptional. Gold already rose $80 from mid-December. Omicron's concern also helped to boost the gold price as a safe-haven asset. This week the U.S has several market mover data to be released. ...
Technically the BTC has broken above the descending trend line and after that, it has also completed the to re-test its nearly trendline support zone. As the BTC holds above the trendline support zone and heads upwards so, it is expected that the BTC has another possibility to rise again. Omicron variation is spreading all over the world again. So,...
gold holds its uptrend bias again after a fake breakout. Gold was unable to break below its psychological level 1750 price zone. and even $1750 playing as strong support as well since 2020. So, as long as the gold price holds above the $1750 price zone, it won't change its uptrend bias. From the present situation, $1815 /1817 seems immediate resistance,...
Gold is challenging its long-term trendline support. However, gold's market movement doesn't seem that investors are scared about Omicron variation. Breaking below $1760/1765 will invalidate its uptrend from August 2021. If we see gold price breaks below the $1760 price zone, we may go short. Our first target to the downside is $1725/1720, and the final target...