Xayah_trading

Xayah_trading Updated 

OANDA:XAUUSD is still trying to operate above its $2,300 base price after Thursday's wild swings, with the market focusing particularly on non-farm payrolls data to be released on this trading day. ADP jobs data exceeded expectations in April and March data was revised upward, suggesting the US labor market remains strong and stable. The US ADP jobs report...

Xayah_trading Updated 

OANDA:XAUUSD spot faced strong selling pressure and fell to a one-week low ahead of the Federal Reserve meeting. The Conference Board's consumer confidence index fell for the third straight month in April, falling to 97.0 from a downwardly revised 103.1 in March. Pessimism prevails ahead of the Federal Reserve's monetary policy announcement scheduled for...

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EURO ( OANDA:EURUSD ) ANALYSIS - Flash PMI data provides unflattering US outlook, Europe improves - EURUSD rises after US PMI shock FLASH PMI DATA PROVIDES UNFLATTERING US OUTLOOK, EUROPE IMPROVES German and EU manufacturing remains depressed but encouraging rises in flash services PMI results suggest improvement in Europe. UK manufacturing slumped well...

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After a subdued performance late last week, the EUR/USD bounced back on Monday, challenging overhead resistance at 1.0725. A successful clearance of this technical barrier could pave the way for a move towards 1.0755. Further strength from this point onwards would shift focus to the 1.0800 handle, where the 50-day and 200-day simple moving averages converge. In...

Xayah_trading Updated 

Market attention turns to the Federal Reserve's monetary policy decision on May 1 and upcoming nonfarm payrolls data. Data released last week showed US gross domestic product fell short of target, while the core personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, stagnated at growth of 2.8% year-on-year for the second...

Xayah_trading Updated 

OANDA:XAUUSD market could see more volatility next week on news from the Federal Reserve and is expected to signal that it will not be ready to cut interest rates in June. Although expectations of loosening policy by the US Federal Reserve are fading, gold prices have also increased about 17% since February this year. Gold's strong performance is linked to...

Xayah_trading Updated 

The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The near-term appeal of the precious metal remains weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the...

Xayah_trading Updated 

US GDP data for the first quarter of 2024 was lower than expected, increasing speculation that the Federal Reserve may reduce borrowing costs. However, inflation has risen sharply over the same period, which will delay the Fed's interest rate cuts. The U.S. Bureau of Economic Analysis reported on Thursday that U.S. gross domestic product (GDP) grew 1.6%...

Xayah_trading Updated 

OANDA:XAUUSD stabilized after hitting a more than two-week low as concerns about escalating tensions in the Middle East subsided, while investors await key economic data to further clarify the timing of US interest rate cuts. America. Israel stepped up its attacks on the Gaza Strip, its worst shelling in weeks, but fears of a wider conflict eased after Iran...

Xayah_trading Updated 

During the Asian session on Monday (April 22), spot gold had a gap and opened lower, falling to a low of $2,370/ounce as of press time. Gold is mainly under pressure because tensions around Israel and Iran appear to have cooled, which has eased risk aversion, thus putting pressure on gold prices. On April 19 local time, Israeli Army Radio said Israeli security...

Xayah_trading Updated 

OANDA:XAUUSD have fallen sharply from recent highs due to the impact of reduced geopolitical risks and a stronger US Dollar. Federal Reserve officials, including Chairman Powell, have maintained a hawkish stance on interest rates, which has weighed on gold prices. Sentiment has changed as expectations for a Fed rate cut were revised to a potentially longer than...

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OANDA:EURUSD NEWS AND ANALYSIS - ECB officials eye June meeting for first rate cut, SNB delivers a surprise cut - Dollar drop appears short-lived as EUR/USD heeds resistance ECB OFFICIALS EYE JUNE MEETING FOR FIRST RATE CUT, SNB DELIVERS A SURPRISE CUT Despite the EU and US having different growth prospects, the ECB remains cautious about cutting rates....

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After enduring notable losses last week, EURUSD steadied and mounted a modest comeback over the past few days, rebounding off the psychological 1.0600 level and pushing past the 1.0650 mark. If the pair continues to recover in the coming days, resistance is expected at 1.0695 and 1.0725 thereafter. On further strength, all eyes will be on 1.0820. Conversely,...

Xayah_trading Updated 

After steep losses in recent days, EURUSD stabilized and rebounded off the psychological 1.0600 level on Wednesday, pushing past the 1.0650 mark. If the pair manages to build upon its recovery in the days ahead, resistance lies at 1.0695, followed by 1.0725. On further strength, the focus will be on 1.0820. On the other hand, if sellers return and regain control...

Xayah_trading Updated 

OANDA:EURUSD FORECAST - TECHNICAL ANALYSIS EUR/USD jumped on Wednesday, with bulls seemingly determined to challenge trendline resistance at 1.0950 after the FOMC announcement. In the event of a retest, sellers will need to fend off the advance; otherwise, there will be minimal obstacles to a rally towards 1.0970, a key Fibonacci level. Alternatively, if upside...

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The Bank of Japan (BoJ) increased its policy interest rate to 0.00-0.10% in March, bringing interest rates out of negative territory. Although the yen was expected to increase, the market witnessed a decline in the yen, causing the OANDA:USDJPY exchange rate to increase. Although the Bank of Japan gave limited guidance on further policy tightening, markets...

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USDJPY edged lower on Wednesday, stepping off its multi-decade high established in the previous session when the pair hit 154.78. Should the downturn reversal gain momentum later this week, support can be spotted at 153.20 and 152.00 thereafter. Below these levels, 150.80 may become a focal point. Conversely, if USDJPY resumes its rally, resistance looms at...

Xayah_trading Updated 

The US dollar surged on Wednesday due to higher-than-expected US inflation numbers. This led to USDJPY reaching new highs for 2024 and its strongest level since 1990. The March Consumer Price Index report showed persistent inflation in the North American economy, reducing expectations for a June FOMC rate cut. Headline CPI increased by 3.5% YoY, surpassing...