Trading in the new year will fire up with the latest US employment data on Friday. Forecasts point to another solid jobs report, although business surveys warn that the labor market has started to lose steam. As for the dollar, calls about its demise and a bearish trend reversal still seem premature. Dollar wins 2022 […]

GBPUSD rebounded off the 23.6% Fibonacci retracement level of the up leg from 1.0325 to 1.2450 at 1.2050 and is currently flirting with the 200-day simple moving average (SMA) as well with the medium-term uptrend line.   From the technical perspective, the MACD is losing ground above the zero level, while the RSI is pointing […]

Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to head towards the 1st support at 1074.23, where the previous swing low is. In an alternative scenario, price could head back […]

Red line- major resistance trend line Green rectangle- support The weekly candle in XRPUSD has tested the major horizontal support area successfully. Price respected support and is now bouncing higher. Price remains below the key downward sloping resistance trend line. Resistance is found at $0.37. As long as price is below this level bears remain […]

Yellow line- bearish divergence Blue line- support Red lines- bearish channel AUDUSD is trading around 0.6870 just below the upper channel boundary resistance. Short-term trend is mixed as price has not made any real progress over the last few days. Support is key at 0.6650 and a break below this level would provide a sell […]

Silver has started the new trading year on a positive note, though less impressive than its shiny counterpart, as it currently trades close to the highest level since April 22. Silver has been gently moving higher, inside a well-structured upwards trending channel since November 3. A series of higher highs and higher lows have been recorded […]

Gold skyrocketed to a new seven-month high of 1,865, exiting from the medium-term ascending channel, suggesting that the recent uptrend is likely to stay in place for now. The RSI is standing in the overbought territory, while the MACD is extending its bullish momentum above its trigger and zero lines. In case the pair continues its direction to […]

Gold extends win streak, dollar pulls back ahead of US releases Australian dollar pops on rumors China might lift its coal ban Stocks edge lower, losses in Apple and Tesla spearhead retreat Gold storms higher Global markets got off to a nervous start this year. Investors have been loading up on defensive assets such as […]

Natural gas futures (February delivery) have been in the red almost every single day since mid-December, having almost snapped the 2022 ascent to chart a new low of 3.88 on Tuesday. The price is currently trading 60% below the August peak of 9.95, but hopes for an upside reversal are now gaining strength as the […]

The first week of the new trading year tends to be very busy with data releases, but the market’s attention usually falls on the US employment report, non-farm payrolls in particular. The Canadian labour market statistics tend to stay away from the spotlight, but nevertheless remain significant for overall market sentiment. Especially as the Bank of Canada is hosting […]

NZDUSD is rising after bouncing off the long-term descending trend line and the 200-day simple moving average (SMA) but is still hovering beneath the 20-day SMA. The negatively aligned Tenkan-sen line serves as a testament to the negative short-term momentum.  The Chikou Span, though, is signaling a potentially oversold market; a near-term reversal should thus not be […]

XM opened its first ever Educational Centre on 5 November 2022, in Johannesburg South Africa. This momentous day was marked by an official ribbon cutting ceremony attended by key clients and partners who gathered to celebrate this huge milestone together. The new Educational Centre is located in Sandton. It will be home to our recently […]

Violet lines- Fibonacci retracements EURUSD is trading above 1.06 after a bearish day yesterday. Price broke below the key 1.0570 support and made a low around 1.0520. Bulls stepped in and have managed to reclaim more than 50% of the decline. Price has almost reached the 61.8% retracement of the decline. Is this bounce just […]

Black line- bearish divergence Blue lines- bullish channel Gold price made a new higher high today at $1,864 and the RSI continues to be lower than previous highs. Technically trend remains bullish. So far there is still no sign of a reversal. We only see warning signs by the RSI. Gold up trend is weakening […]

The World Platinum Investment Council (WPIC) said in its latest quarterly report that the global platinum market is forecast to run a deficit of 303 koz, up just 2% to 7,466k koz. The WPIC cited supply constraints and increased demand for bars and coins, revising its 2022 market surplus forecast down 17% to 804 koz. […]

USDCHF experienced its fastest daily rally in a couple of months on Tuesday, advancing by 1.2% to chart an almost one-month high of 0.9397. Despite the strong bullish momentum, the price could not crawl back above the broken support trendline from the 2021 lows, sliding back to the red zone on Wednesday. A bullish bias […]

USDJPY had experienced a significant uptrend in the past year, climbing to a 32-year high of 151.94 in mid-October. However, the pair has been experiencing a prolonged downside correction since then, with the price hitting a fresh seven-month low of 129.50 in the previous daily session. The short-term oscillators currently suggest that bearish forces have gained total […]

Precious metals have shown a very mixed performance in 2022. And if not for the last quarter of the year, the results would have been very different. The price of platinum precious metals performed the best, up nearly 11% year-over-year: Silver was next in line, up almost 3% in 2022: Gold ended the year flat: […]

Following a hawkish ECB in December, market participants may be eagerly awaiting the preliminary Euro area inflation numbers, due out on Friday at 10:00 GMT, as they try to assess whether more 50 basis points worth of rate hikes are indeed warranted. Will the data confirm the ECB’s aggressive stance? And how may the euro […]

Watch for pullbacks on the Gold The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Gold stopped reacting to the dollar January 4, 2023 The start of the year 2023 marked a new paradox…XAU/USD extends its growth as expected, 1,879 as target January 4, 2023 XAU/USD edged higher and now is trading at […]

The start of the year 2023 marked a new paradox for gold. It grew against the background of the strengthening U.S. dollar at the auction on January 3 and continued to rally when the USD retreated. Investors’ interest in the precious metal seems so great that they stopped paying attention to the dynamics of the […]

XAU/USD edged higher and now is trading at 1,858 at the time of writing below 1,865 today’s high. You knew from my previous analysis that Gold is bullish and an upside movement is natural. Still, after its strong rally, the yellow metal could come back to test and retest the immediate support levels before jumping […]

The U.S. dollar index hit a three-week high Tuesday amid rising risk sentiment, a declining U.S. stock market, pessimistic comments from the IMF head, disappointing news from China and political turmoil in the House of Representatives. All these fundamental factors allowed dollar bulls to remind itself again—also in pair with euro, which found itself under […]

NZD/USD Strong Growth! The NZD/USD pair came back higher after failing to reach the 0.6200 psychological level. Now, it is trading at 0.6339 at the time of writing. After its strong growth, we cannot exclude a minor retreat, the price could come back down. Technically, 0.6355 represents an upside obstacle. You can see on the […]

The price of Ripple dropped as much as 0.30000 where it found strong demand and now it has turned to the upside. It’s trading at 0.3502 at the time of writing below Monday’s high of 0.3550. XRP/USD increased by 17.42% from Monday’s low of 0.30000 to 0.3522 today’s high. The altcoin rallied as BTC/USD and […]