Xayah_trading

Xayah_trading Updated 

Scarce U.S. economic data will keep investors focused on Federal Reserve officials in the week following last Friday's U.S. jobs report. Gold prices are trading around 2,312USD/oz after reaching a daily high yesterday of 2,321USD/oz. The story in financial markets focuses on when the Federal Reserve will begin easing policy after releasing weak economic...

Xayah_trading Updated 

OANDA:XAUUSD jumped as weak US initial jobless claims data and dovish comments from Federal Reserve officials weighed on the US dollar, along with tensions. New tensions in the Middle East attract risk haven demand. Data released by the United States on Thursday showed that the number of people applying for unemployment benefits increased by 22,000 in the week...

Xayah_trading Updated 

Gold prices surged to a three-week high of $2,375 an ounce on Friday due to weak U.S. economic data. The University of Michigan's preliminary May consumer confidence index fell to 67.4, lower than expectations. Additionally, there was an unexpected increase in initial jobless claims, reaching the highest level since last August. Investors are now awaiting next...

Xayah_trading Updated 

Gold ended the week higher after a late rally on Thursday and Friday. It had initially pulled back from its all-time high due to trendline resistance. The precious metal is expected to react to the latest US inflation data, which affects Treasury yields, interest rate expectations, and the US dollar. Gold bulls are hopeful that softer CPI data will drive the metal...

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EURUSD trended lower on Thursday after an unsuccessful attempt to clear the resistance at 1.0725, with prices moving back towards the 1.0700 handle. Traders should closely monitor this support area in the coming days, as a break below it could trigger a pullback towards 1.0645 and potentially even 1.0600. In the event of a bullish reversal from current levels,...

Xayah_trading Updated 

EURUSD pushed higher on Thursday after bouncing off technical support at 1.0725, with prices challenging a key ceiling near 1.0790, where the 50-day and 200-day simple moving averages intersect. If this barrier fails to contain buyers, the next stop is likely to be trendline resistance at 1.0810. On further strength, we could see a move towards a major Fibonacci...

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AUSTRALIAN DOLLAR Q2 FUNDAMENTAL OUTLOOK The Australian Dollar has been weak against the US Dollar in recent years, including 2024. However, there may be some positive news for Australian currency bulls, mainly due to weakness in the US Dollar rather than strong economic performance in Australia. Rising US interest rates and the safe-haven status of the Greenback...

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AUSTRALIAN DOLLAR ( OANDA:AUDUSD ) ANALYSIS - Australian inflation eases less than anticipated in March and Q1 as a whole - AUDUSD continues to benefit from the return to risk assets AUSTRALIAN INFLATION EASES LESS THAN ANTICIPATED IN Q1 Monthly, quarterly and yearly inflation measures showed disappointing progress towards the Reserve Bank of Australia’s...

Xayah_trading Updated 

The story in financial markets focuses on when the Federal Reserve will begin easing policy after releasing weak economic data. The U.S. Department of Labor said that nonfarm payroll employment in April was 175,000, lower than expected and lower than March's upwardly revised figure of 315,000. After the data was released, the CME FedWatch tool showed that the...

Xayah_trading Updated 

Risk appetite improved as bets increased that the Federal Reserve could begin easing policy sooner than expected. This comes after Friday's nonfarm payrolls report showed the economy continued to create jobs, albeit at a slower pace. Basic support for OANDA:XAUUSD Market participants continue to digest the latest data from the United States as the April...

Xayah_trading Updated 

After the release of US non-farm payrolls (NFP) data lower than market expectations, gold quickly increased in price, reaching 2,320 USD/ounce. However, this high level did not last long due to profit-taking pressure and gold quickly fell to close weekly at 2,301 USD/ounce. Although the easing cycle may be delayed, Federal Reserve Chairman Jerome Powell has made...

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OANDA:GBPUSD ANALYSIS AND CHARTS - GBPUSD edged back into the green Tuesday - The UK’s March PMI saw upward revision, signaling the first growth in twenty months The British Pound slightly rebounded against the US Dollar on Monday due to unexpected strength in domestic manufacturing. However, the Pound remains below last week's trading range against the...

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GBPUSD sold off this week, slipping below a technical floor at 1.2430 and hitting its lowest point since November. With bearish momentum prevailing, there's potential for accelerated losses in the short term, possibly prompting a revisit of 1.2320 – a major Fibonacci support level. Prices may bottom out in this area before reversing higher; but in the case of a...

Xayah_trading Updated 

GBPUSD mounted a moderate comeback on Wednesday, bouncing off support in the 1.2430 region. If the pair extends its rebound in the coming trading days, resistance awaits at 1.2525, followed by 1.2575 near the 200-day simple moving average. On continued strength, the next key level to watch is 1.2645. Alternatively, if sellers return and trigger a market selloff,...

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POUND STERLING ANALYSIS - Sterling in focus ahead of lower anticipated UK inflation – BoE up Next - OANDA:GBPUSD falls back into prior trading range as USD maintains bid STERLING IN FOCUS AHEAD OF LOWER ANTICIPATED UK INFLATION – BOE UP NEXT UK inflation, expected to drop before the Bank of England's monetary policy update, is crucial for achieving the...

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GBPUSD also edged down on Thursday, but managed to stabilize around the 1.2515/1.2500 range. Bulls must strive to maintain prices above this support region to prevent sentiment towards the pound from deteriorating; otherwise, sellers could seize the opportunity to launch a bearish assault on 1.2430. On the other hand, if buyers make a new appearance and propel...

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US DOLLAR FORECAST – OANDA:GBPUSD - U.S. dollar displays rangebound behavior ahead of high-impact events on Friday - US PCE data and Powell’s speech on Friday will be key for markets - Thinner liquidity conditions are expected later in the week because of a bank holiday The U.S. dollar, as measured by the DXY index, moved within a narrow range on Tuesday,...

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Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached. On the flip...