The gold market fell to kick off the week, as the interest rate markets spiked right away. However, since the Americans don’t look likely to intervene with the latest conflict between the Iranians and Israelis. With this and the interest rates initially spiking during the day it makes sense that gold price fell but we…
Today’s Gold Analysis Overview: The Overall Gold Trend: Bearish. Today’s Gold Support Points: $4310 – $4250 – $4160 per ounce. Today’s Gold Resistance Points: $4400 – $4460 – $4530 per ounce. Today’s Gold Trading Signals: Bullish Scenario: Buy gold from the support level of $4260 with a target of $4430 and a stop-loss at $4200….
Global markets showed signs of stabilization today, but conviction remained notably absent as investors positioned cautiously ahead of Wednesday’s pivotal US CPI report. Technology shares rebounded strongly across Japan and South Korea, oil prices eased, and Dollar softened. Yet the moves appeared driven more by profit-taking and position adjustment than by a decisive shift in…
Intraday bias in AUD/USD is turned neutral first with current recovery, and some consolidations could be seen. Risk will stay on the downside as long as 0.7200 resistance holds. Below 0.7022 will resume the fall from 0.7277 to 100% projection of 0.7277 to 0.7076 from 0.7200 at 0.6999. Firm break there will target 161.8% projection…
EUR/USD Analysis Summary Today Overall Trend: Strongly Bearish. Support Levels for EUR/USD Today: 1.1485 – 1.1420 – 1.1370 Resistance Levels for EUR/USD Today: 1.1600 – 1.1680 – 1.1750 EUR/USD Trading Signals: Buy scenario: From the support level of 1.1445 with a target of 1.1600 and a stop-loss at 1.1400 Sell scenario: From the resistance level…
The US dollar strengthened against its major counterparts after the release of a robust US labour market report. Non-farm payrolls increased by 172K in May, well above the forecast of 85K, confirming the resilience of the US economy and reducing expectations of an imminent easing of monetary policy by the Federal Reserve. Additional support for…
While further rise cannot be ruled out in USD/JPY, strong resistance is still expected from there to limit upside. Break of 159.08 will turn bias back to the downside the extend the corrective pattern from 160.71 with the third leg. However, decisive break of 160.71 will confirm up trend resumption. That should push USD/JPY through…
Silver’s sharp decline this week is about more than rising Fed hike expectations. By breaking decisively below the key $70 level, the metal may have altered one of the market’s most widely accepted assumptions. What was previously viewed as a structural floor supported by supply deficits and industrial demand is now at risk of becoming…
Key Highlights GBP/USD started a major decline below 1.3450 and 1.3420. It traded below a contracting triangle with support at 1.3410 on the 4-hour chart. EUR/USD dipped heavily before the bulls appeared near 1.1500. Gold extended losses below $4,400 and tested $4,280. GBP/USD Technical Analysis The British Pound failed to surpass 1.3520 against the US…
Far East focused Retail FX and CFDs broker WeTrade, fresh off signing a sponsorship deal with French football club and Champions League winner PSG, is further expanding its sports portfolio announcing a new multi-year partnership with NBA club Houston Rockets. The Houston Rockets have long had a large fan base in China and among Chinese…