xavierNF

xavierNF Updated 

Gold price is facing immediate resistance at $1,914, which is the Fibonacci 61.8% one-day. A break above which will put the powerful hurdle at $1,918 under threat. That level is the convergence of the pivot point one-month R3 and pivot point one-day R1. Acceptance above the latter is critical to extending the renewed upside toward the previous week’s high at...

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Bitcoin bounces off $25246.29 which is the new resistance. Btc is down -60.74% since march 21th & I currently see it dropping another 100% in the coming months the way the chart is structured currently. Rising US yields are applying a visible downside pressure on the pricing of cryptocurrencies. The latter hints that this alternative asset class may not be immune...

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NZD/USD has failed to sustain the upside above 0.5800. While below 0.6010/0.6060, the downtrend is set to persist, economists at Société Générale report. “NZD/USD recently formed an interim low near the lower limit of a multi-month down sloping channel at 0.5565 which is also a trend line drawn since 2009.” “An initial bounce is taking shape; the 50 DMA near...

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CADCHF broke the above trend line that market have been respecting for the last 2 years & 6 months. When a 2+ year trendline have been broken the market is trying to tell us something, if you look close enough you'll see market dropped 680 pips to break that trendline and is currently consolidating that move. When market decides to break the previous low made...

xavierNF Updated 

The recent fall in inflation fueled speculation that the FED will likely start lowering rate hikes at the upcoming meetings. With that said the USD in turn fell an broke an important 6 month trendline, which in turn caused the euro to gain some momentum.

xavierNF Updated 

I previously collected -347 pips ( -5%) from AUDUSD, market came and retested my support area ( now resistance area) around 0.65264 signaling more weakness to come. Any retest should be seen as a selling opportunity, I expect market to fall towards 0.61300, a -275 pips (-4.3%) move from market current position. Despite a strong start in July, the Australian Dollar...

xavierNF Updated 

NZD/USD retreats from a nearly two-week high set earlier this Thursday amid fresh USD buying. Bets for more aggressive Fed rate hikes and elevated US bond yields continue to boost the buck. Recession fears weigh on investors’ sentiment and also exert pressure on the risk-sensitive kiwi. The NZD/USD pair struggles to find acceptance above the 0.5800 mark for the...

xavierNF Updated 

The last EURO trade posted hit my SL, it happens from time to time. However in light of renewed USD strength because of persistent inflation i see EUR/USD continuing the downtrend. "Dollar strength remains the main hindrance to recovery in the pair, but the domestic picture is still far from looking appealing to investors. Despite a smaller-than-expected slump in...

xavierNF Updated 

Last week was particularly rare week for the USDIndex. On Friday, the DXY gained 1.5% in the best 24hrs since march 2020. The probability of such event occurring was 0.01%. The USD has clearly been on an impressive winning streak as of late, is there more growth to be had? The Bank of Japan was lackluster as expected , but the ministry of finance surprise...

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“The dollar remains the main beneficiary of rising US (real) yields in a persistent risk-off context.” “Geopolitical and recessionary risks are bigger for Europe, holding down the single currency as well even as the European Central Bank finally embraced on a tightening cycle.” “Resistance stands at 0.9950/1.0050. The YTD low stands at 0.9536.” EUR/USD is in a...

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Analysts at MUFG Bank, point out that hard landing fears and a hawkish Swiss National Bank (SNB) favor further Swiss franc outperformance. According to them, the Swissy should continue to benefit from the SNB’s desire to dampen upside inflation risks both through faster rate hikes and tolerating a stronger currency. “The CHF has been the top performing G10...

xavierNF Updated 

Silver (XAG/USD) maintains the top. Therefore I expect the precious metal to plunge towards a decisive break below the September 16 low of 18.76, which would indicate that this month’s rebound was a dead-cat bounce, raising the prospect of a retest of the September 1 low of 17.53. Furthermore, a decisive break below 17.53 would be a sign that silver had resumed...

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European Central Bank (ECB) Chief Economist Philip Lane said on Wednesday that the current transition will require the ECB to continue to raise interest rates over the next several meetings, as reported by Reuters. "Encouraging market intermediation of government deposits remains desirable in the long term." "Most measures of longer-term inflation expectations...

xavierNF Updated 

Gold has been suffering the last few month due to a very hawkish Fed trying to get inflation under control. Gold topped out on march 8th 2022 & is down -17.6% since then. The US CPI YOY came in yesterday at +8.3% beating expectations of 8.1% , the CPI ex food & energy also beat expectations coming in at +6.3% vs a 6.1% consensus. This fueled a rally in the USD as...

xavierNF Updated 

Like I previously mentioned in my other published idea title BOLD GOLD, because of the hawkish fed and raising inflation The USD is stronger than most if not all G7 currencies. As a result commodities & commodity currencies across the board is selling off such as the NZD & AUD, they may be the weakest currencies crossed w the USD. Last week I sold this pair at...