Technical analysis: Gold has been trading sideways at the price of $1.890 but I see potential for the drop towards $1.850. Trading recommendation: Watch for potential selling opportunities in case of the downside breakout of rising channel. The upside channel happened after the strong run phase, which is clear sign that buyers got exhausted. Stochastic […]

The crypto rally is over. Hence, many expect gold prices to soar this month, as investors will certainly turn to precious metals. In fact, recent reports already show that prices of inflation-protected precious metals are approaching $ 1,900. Meanwhile, Bitcoin has fallen by almost 40% from a peak of $ 63,000. But the main cryptocurrency […]

Gold is trading in the red at 1,890.25 level after failing to stabilize above 1,900 psychological level. The yellow metal drops also as the US Dollar has managed to appreciate in the short term. DXY’s (USDX) further growth after today’s US data could push the price of gold lower. Still, you should know that XAU/USD […]

Let’s take a look at the technical picture of USD/JPY, EUR/USD and Gold on the last day of the trading week. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Week Ahead – NFP report to kick off New Year, inject… January 2, 2022 Markets have been dead quiet during the holiday period […]

Over the past day, bitcoin has stood in one place in an unusual manner for itself. The quotes of the first cryptocurrency have been trading around the level of $38,000 per coin for four days, and traders cannot move the “digital gold” either up or down. Is it time to talk about “fair value”? Or […]

Technical analysis: BTC has been trading downside as I expected and the price reached my first downside target at $53.000. Trading recommendation: In case of the downside breakout of the key support at $53.000, watch for selling opportunities on the rallies with the next downside target at $48.350. Stochastic oscillator is showing fresh bear cross, […]

Technical analysis: EUR has been trading downside but from my view it reached the extreme reading and the upside is preferable. Trading recommendation: Watch for potential buying opportunities above 1.2030 wit the upside target at 1.2070. I found that falling wedge formation, which is another sign of the exhaustion on the downside and potential for […]

Technical analysis: BTC has been trading downside as I expected. The Gold has reached the first downside objectives at the price of $1.775 and the regime is now flat. Trading recommendation: Watch for potential selling opportunities in case of the downside breakout of support at $1.775 with the downside targets at $1.765 and $1.758. Stochastic […]

· US Treasury Secretary Yellen talks about rate hikes, tech stocks suffer · But turmoil doesn’t spill over into FX, dollar gets only a minor boost · ISM non-manufacturing survey and ADP jobs report coming up Yellen sparks tech selloff Market participants just got a small preview of what could happen when interest rates finally […]

Gold is slipping below the mid Bollinger band, which has merged with the 50-period simple moving average (SMA) around 1,780 but the last two weeks of price action remain confined between the limits of 1,756 and 1,800. The 100- and 200-period SMAs are defending the latest up leg from the trough of 1,678 but the […]

GBPJPY is turning lower after consecutive green sessions, finding strong support at the 200-period simple moving average (SMA). A paused state of directional momentum is reflected in the Ichimoku lines, while the price rests above the upper surface of the Ichimoku cloud. The mixed signals in the short-term oscillators further reflect the recent stall in […]

USDJPY survived a drop below the bullish channel and avoided a close within the Ichimoku cloud a few weeks ago, drifting higher to re-challenge the 109.70 resistance area. The bulls have not claimed the 109.70 number yet, which could be the key for an extension towards the channel’s topline and the crucial zone of 110.65 […]

NZDUSD is heading slightly up after the bounce off the 0.6940 support, hovering near the bullish crossover within the 20- and 40-day simple moving averages (SMAs). Technically, the indicators are showing mixed signals in the near term. The RSI is moving sideways near the neutral threshold of 50, while the MACD is declining below its […]

· Dollar retreats after disappointing ISM report but bounces back · Sterling outperforms as speculation for BoE tapering grows · Gold capitalizes on subdued yields, RBA takes the sidelines Markets in wait-and-see mode after ISM survey The US dollar is still searching for direction. The reserve currency took a hit yesterday in the wake of […]

EURJPY is strongly positive as it reached a fresh 31-month peak at 132.40 on April 29. The MACD is standing beyond the trigger and zero lines, though, the RSI is losing ground above the 50 level. The short-term simple moving averages (SMAs) are heading north, approaching the current market price. The short-run risk is looking […]

GBPUSD has been developing within a horizontal trajectory over the last two months, surpassing the 20- and 40-day simple moving averages (SMAs), which are ready to create a bullish crossover. The MACD oscillator is endorsing the sideways move, holding in the positive region, while the MACD is pointing up above the 50 level. Immediate resistance […]

The BoE will publish its latest rate decision at 11:00 GMT Thursday alongside updated economic forecasts, which Governor Bailey will present during his press conference. The British economy is doing much better and there’s speculation the Bank might signal a slowdown of its asset purchases. That could propel the pound higher, but whether any gains […]

· Taper talk, mild risk aversion, and month-end flows reawaken the dollar · Wall Street takes a minor hit but after a fantastic month · All eyes on ISM survey today and RBA rate decision afterward Dollar strikes back A battle of narratives continues to rage in the forex market, with mounting signs that the […]

Technical outlook: Bitcoin reverses from our defined resistance zone around $58,000-59,000 levels yesterday. The crypto had dropped through $53,000 mark before finding support but managed to produce a bearish Evening Star candlestick pattern on the daily chart. This indicates a potential reversal lower and falls in-line with our projections at $41,000-43,000. Bitcoin has pulled off […]

Risk Warning: 78.28% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for an up to date risk warning. […]

Risk Warning: 78.28% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for an up to date risk warning. […]

GBP/USD continued scaling higher for the sixth straight session amid sustained USD selling. The stage now seems set for a move towards March swing highs, around the 1.4000 mark. Slightly overbought RSI on hourly charts warrants caution before placing aggressive bets. On Monday, GBP/USD started the week with an extension of Friday’s surge. Namely, the […]

EUR/USD has jumped above 1.20, hitting the highest since March amid a risk-on mood and falling US yields. An uptick in EU vaccination rates is also boosting sentiment. EUR/USD starts the week on a strong note and finally manages to advance further north of the psychological 1.2000 yardstick.The firm buying pressure is expected to meet […]

On Monday, the British pound gained in value and reached its highest level in the last two weeks against the weakening US dollar. Thus, the British currency advanced by 0.57% to $1.3907. At the same time, the US dollar is losing in value against all major currencies, trading near its monthly lows. Traders began selling […]

AUDUSD is under pressure as prices are drifting lower after a sharp upside move in the preceding two sessions. The short-term technical indicators are bearish and point to a possible weakness in the market. Looking at the 4-hour chart, the RSI indicator is sloping down after reaching the overbought territory, while the MACD is losing […]