Gold has been making a solid comeback in the past week, and today it reached above $1800 for the first time since the first week of September. This bit long-awaited move finally came after weeks of impressive gains made following Wednesday's upsurge, which saw gold preserved its bullish momentum. That is an important milestone that XAU/USD has reached above the...
Since November 9, 2021, the crypto king BTC has lost its ground, maintaining its trendline resistance. But last week, BTC broke and stabilized above the trendline resistance level and finally found its support. How long BTC can rise. Technically it has significant room and scope to go up. BTC has room to test the $70000 price zone in the next couple of months...
Gold is waiting to break out the bullish flag. Yesterday gold bounced back from the Fibonacci 50% retracement zone. It also created a very long tail bullish pin bar, but the market could not break out the bullish flag that the market had already created. In the H1 chart, gold respects trendline support and trendline resistance. It will break out its bullish...
Fundamental View: Last week, the US job market printed a super positive report compared to its forecast. but the gold's drop was short-lived because of some political factors. Specially Russian-Ukraine issues are inflaming the gold and other commodities prices. But can gold ignore the supper positive NFP report? Yes, it is damn possible. Political crisis...
For a long time, gold has been stuck in a triangle. Though several times there happened a fake breakout triangle, gold sustained. 26th of January, dols dropped from its long-term triangle resistance level and below its trendline support. But anyhow, it managed to stabilize its trendline support level and heading again to its trendline resistance level. From...
Crude oil is hovering near to its resistance. As long as crude oil holds the price below $94, it has the opportunity to correct to the downside nearly $85. But it would be wise to buy crude oil again if we find it again at $85. Market expectation is this year, crude oil may cross above $100/barrels, and the market is doing the same. Moreover, the crude oil test...
BTC is challenging its trendline resistance. Last Saturday, BTC dropped hard during the forex market holiday. But it has almost recovered. Last Saturday, BTC dropped from the $56000 price zone to the $42000 price zone. $52000/53000 was strong support before it dropped. Now BTC is challenging its trendline resistance $52000/53000 price zone. So, breaking above...
The US dollar was the worst performer against the EUR in more than a year in the last week. At the last ECB meeting, we saw a notable change. ECB president mentioned that " considering that inflation exceeded the bank's expectations, which opened the door to raising the expectations of the markets that we will witness a hike in interest during the current year...
Gold Price Against Inflation When the economy is experiencing inflation, investors often turn to gold to help protect their assets. This is because gold does not suffer from the same devaluation as paper money in times of inflation. But does it always perform better than other assets? We analyzed data to see if that was the case and found that it depends on what...
Fundamental Analysis: There are many factors Many factors and supportive reports play a role behind the job market report, especially the NFP report. That's why it is hard to figure out how will be the upcoming report. But ten economic reports that analysts and economists use to guess the upcoming NFP reports. So let's check them out. Previous NFP report: ...
Hi everybody. Last week gold dropped nearly 750 pips. Technically it has more room to fall again. Gold is in correction mode after a significant drop. According to Fibonacci, gold may correct the 50 and 61.8% Fibo level. If we take the high price at $1853 and the low price at $1780, then Fibo's 50% level is $1817.50 price zone, and 61.8% of Fibo's level is...
Gold prices are dominated mainly by the USD, geopolitical factors, bank rates, economic crisis, inflation, bond yields, and FED monetary policy. Last FOMC was a bit hawkish than dovish. That helped the USD to gain against the gold prices. But at the U.S season, 10 years bond dropped a bit. As a result, gold has recovered nearly $20 from last week's low. ...
Fundamental View This week has scheduled to see three central banks (Australian Reserve - European Central Bank - Bank of England) publish their monetary policy, regarded as literally a game-changer for the global economy. In addition to the January US NFP statistics, the first week of February begins tomorrow, Tuesday. Last week's Federal Reserve Bank of the...
Since August 20202, the crude oil price has risen because of demand. However, during covid suddenty, crude oil demand dropped. But very soon, crude oil managed to recover its market. Since November 2020, Crude oil prices have been rising gradually following its trendline support and trendline resistance. Everything was fine till the Russian and Ukraine crisis...
EUR is having a difficult time. EUR has weakened against most major currencies, especially against the king USD. Last FOMC was a mix, and FED hints for the rate hike. Even yesterday, the United states advanced printed 6.9% from 2.3% whether the market forecasted only 5.3%. Overall, it was supposed to drop EUR against the USA. Even today's German GDP fell as well....
Several reasons are playing behind the rising of gold prices. The main catalysts for rising gold prices are omicron concerns, geopolitical factors, stock crashes, and downbeat yields. Today, we have seen the Asian stock market slip and yields drop. But, on the other hand, a Russian attack on Ukraine is a growing risk. This week we have federal open market...
Few several months it's bleeding in the crypto market, and DOGE is not beyond it. Among all the cryptos, I like Bitcoin and DOGE most. Technically, DOGE reached its trendline support area. What started in June 2021. Several times market respected this trendline support and bounced back to the upside. Since begging, DOGE lost nearly 70% of its value and reached...
Gold reached its trendline resistance zone. As a result, the gold reached its highest level at $1848 for two months. Next, the FED will announce their monetary policy, and I think gold will rise slowly until the FED meeting. There is a big chance that the FED will rise in March and four times this year. That may bit hampered the pace of rising gold as gold is...