Trader_BrianFX

Trader_BrianFX

Gold prices hit their highest level in over three weeks on May 15th (U.S. time), supported by the weakening U.S. dollar and declining yields following the latest inflation report. Data showed that the U.S. Consumer Price Index (CPI) in April rose less than expected, increasing the likelihood of interest rate cuts by the Federal Reserve (Fed). The U.S. dollar fell...

Trader_BrianFX

The EUR/USD surged on Wednesday, experiencing one of its best days in 2024, climbing to 1.0900 and heading towards a fourth consecutive week of gains. Broad market selling pressure lowered the value of the US dollar (USD) as risk appetite soared after US Consumer Price Index (CPI) inflation dropped more than investors had anticipated. US CPI inflation fell to...

Trader_BrianFX

Gold extended its uptrend for the second consecutive day on Wednesday, reaching a three-week high of $2,390. This rise followed data from the U.S. Bureau of Labor Statistics showing a decline in inflation, increasing the likelihood that the Federal Reserve will cut interest rates in 2024. The daily chart of the XAU/USD pair shows a dominant uptrend, although the...

Trader_BrianFX Updated 

Today, gold prices took a small bounce back, hovering between $2338 and $2340. Short-term traders are cashing in after the price dip at the start of the week. Everyone's eyes are now on the upcoming data, waiting to see what the Fed will do about interest rates. Lately, Fed folks have been hinting they might ease up on money policies if inflation starts to chill...

Trader_BrianFX Updated 

Gold Price Update: Hey everyone! Gold is making moves, hitting the $2,357 mark early Wednesday thanks to a weaker USD after the US Producer Price Index (PPI) data dropped. The numbers showed inflation is still in the mix, with the monthly PPI up 0.5% in April, a jump from -0.1% in March, and beating the expected 0.3%. Looking Ahead: Gold has found new support...

Trader_BrianFX

Today's gold market shows a modest rebound, with the metal trading at approximately USD 2343, reflecting a 0.34% increase since yesterday's notable decline. However, there are emerging signs that gold may be shaping into an inverted cup and handle pattern. Should this pattern fully materialize, it suggests the possibility of a further downward adjustment,...

Trader_BrianFX Updated 

Hello everyone, Brian here. Kicking off today's trading session, gold has taken a dip following its strong rally at the close of last Friday. As of now, the precious metal has shed over $10, reflecting a decline of 0.48% for the day. Looking ahead, gold is expected to face more short to medium-term corrections. However, from a long-term perspective, investors and...

Trader_BrianFX Updated 

The global gold price continues its upward momentum, with gold rising to $2,360 USD per ounce. As a result, the precious metal sees its strongest increase in five weeks, as investors increasingly believe that the US Federal Reserve will soon loosen monetary policy. Furthermore, optimism rises as recent data suggests a slight cooling off in the US economy. This...

Trader_BrianFX Updated 

Hey folks, Brian here. Today, XAUUSD is making a comeback on the track with a recovery since its last touch at $2300 USD, now trading around $2350 USD, marking an increase of nearly 500 pips. On the 1D chart, XAUUSD is regaining bullish momentum after touching the EMA 34 line, signaling long-term growth prospects are still intact.

Trader_BrianFX Updated 

Gold Update: According to the weekly report from the US Department of Labor, the number of initial unemployment claims in the country has risen to its highest level since August last year. In the week ending on May 4th, the number of initial unemployment claims in the US increased by 20,000 compared to the previous week, surpassing expectations, reaching...

Trader_BrianFX

Greetings everyone, Today, GBP/USD surged higher to nearly 1.2540 thanks to better-than-expected Gross Domestic Product (GDP) data from the United Kingdom in the first quarter. The upward momentum is further supported by the convergence between the EMA 34, 89, and the current support level. The price target above the resistance level at 1.255 is being aimed for!

Trader_BrianFX

On Thursday, EUR/USD made significant strides, gaining ground for the week as the US Dollar retreated following a surge in US Initial Jobless Claims, reigniting expectations for potential rate cuts by the Federal Reserve.

Trader_BrianFX Updated 

Today, the price of gold is hovering around $2309, showing a downward trend as the US dollar has risen approximately 4% against the basket of six major currencies. Despite the strong global demand for precious metals, particularly in Asian regions such as China, India, and South Korea, the robustness of the USD continues to exert downward pressure on gold...

Trader_BrianFX

The Gold price chart on the H1 timeframe shows a precarious situation. Bullish speculators face skepticism after failed attempts to break free from a short-term downtrend. Gold now hovers around the $2300 USD/oz support level. Expectations of a rapid price surge to historical highs above $2400 USD seem distant. Traders await significant catalysts, such as the...

Trader_BrianFX Updated 

Hello everyone, Brian here. Let's take a look at what's special about EURUSD today! Currently, EUR/USD may extend its losses for the third consecutive session, trading around 1.0750 in the Asian trading session on Thursday. The US Dollar (USD) is gaining ground amid expectations that the Federal Reserve will maintain higher interest rates. Additionally, higher US...

Trader_BrianFX

"Gold (XAU/USD) attracted some buyers during Asian trading hours on Wednesday. Safe-haven demand, driven by geopolitical tensions and political uncertainty, as well as central bank buying activity, may contribute to pushing gold prices higher. However, hawkish remarks from Federal Reserve officials could dampen hopes of interest rate cuts in 2024, despite...

Trader_BrianFX Updated 

Gold prices tumbled during the North American trading session, dropping by about 0.4% amid a stronger US dollar and declining US Treasury bond yields. With scarce economic data in the US, investors will be closely watching Federal Reserve officials next week following the US employment report released last Friday.

Trader_BrianFX Updated 

The world gold price is currently trading around 2320 USD. "The recent downturn in gold prices we've seen over the past few weeks may be weakening. US employment figures have weakened the USD, creating an opportunity for the world gold price to rise," an expert noted. According to technical analysis, in the short term, the next resistance level for gold is 2,360...