Gold prices dropped in today's Asian trading session, adjusting after recent gains as investors seemed to favor the U.S. dollar in anticipation of significant U.S. inflation data due later this week. Last week, gold showed solid progress as signs of a slowing U.S. economy fueled speculation that the U.S. Federal Reserve might cut interest rates in 2024. Despite...
Yesterday I said that if the Bitcoin price cannot break through 63450, it will fall back. However, today the fallback is larger, with the lowest point reaching around 61450. The price currently encounters downward resistance above 61450. If the price breaks above 61850 again, the upward trend will continue. If the price falls below 60800, then the uptrend will...
Hey Everyone, Great day on the chart today catching the move up form support inline with our plans to buy dips. Yesterday after break and lock confirmation below 2357, we got our retracement target hit at 2337. We then highlighted, as per the chart arrow our expectation for a bounce back into 2357. - This played out perfectly for the bounce into 2357 today. We...
On Semi conductor's selling has been weakened since Nov 23 and the larger falling wedge is pointing towards a larger bullish reversal pattern. First the cup and handle is close to a completion and will confirm the pattern once it breaks above US$72.84 resistance. Volume is low but is a potential sign of accumulation. Long-term MACD is close to a bottom...
BTCUSDT continues its downward trend in the long term, as indicated by the 1D chart analysis. The pair is moving within a parallel descending channel with no signs of buyers breaking through the upper limit. Currently priced at $61,900, I expect further adjustments towards the lower boundary of the channel around $55,000. What do you think about BTCUSDT's...
Today, gold prices are on a recovery path after experiencing a significant drop yesterday, currently trading around USD 2343, marking a 0.34% increase for the day. However, gold is showing signs of forming an inverted cup and handle pattern. If this pattern continues to develop, there could be a deeper correction following a retreat to the Fibonacci levels...
BTCUSDT is currently moving within a price wedge and is undergoing a correction phase upon touching the upper limit of the wedge. The short to medium-term target range of USD 59,000 - 60,000 is viewed optimistically, as long as the price wedge remains intact. I am anticipating a decrease, what about you? What are your thoughts?
As of now, gold has risen by $21.9 to $2,357.6 per ounce, reclaiming last week's high following strong news released yesterday evening. This increase is primarily due to the weakening of the US dollar and treasury bond yields after the release of US producer price data for April. The US dollar fell by 0.2%, making gold more attractive to investors holding other...
Spot gold approached the $2,357 region early Wednesday trading, driven by a weaker USD following the release of the US Producer Price Index (PPI) data. The figures indicated persistent inflationary pressure as the monthly PPI rose by 0.5% in April, up from -0.1% in March, and surpassing the expected 0.3% increase. Outlook: Gold has established new support around...
BTCUSD remains ensnared in a downtrend, currently hovering around $61,800, having lost 1.71% today. The price wedge is tightening, setting the stage for a potential breakout for BTCUSD. The outlook remains in favor of the bears, with a target of $58,000 seen as highly plausible. What's your take on the next move for BTCUSD?
The price action of Bitcoin is relatively boring on the higher time frames, why is that? The answer to this question may be that summer is almost here, and statistically, Bitcoin has been going sideways pretty much every summer. Usually, the fun begins in August/September, when the volatility comes into the market. What can we expect from Bitcoin in the...
BTC / USDT BTC has printed big falling wedge and the chance for big breakout is high however more corrections and final shakeout can also happen The bottom about to be formed So Keep accumulating BTC and strong altcoins and enter market partially In meanwhile you can ask about your favorite altcoin for analysis Best of wishes
Hey everyone, let's check out what's happening with GBPUSD today! Right now, GBPUSD is adjusting its course after setting a new peak around 1.256, with a new support level identified on the chart. Later today, Fed Chair Powell will engage in a moderated discussion with Klaas Knot, the president of De Nederlandsche Bank, at the annual meeting of the Foreign...
Hello everyone, are you wondering about the recent trends of EURUSD? Currently, EURUSD is continuing to rise as the weakening of the US Dollar (USD) has spurred a strong response from EUR/USD. This currency pair has broken through several important resistance levels, turning them into new support levels. The recovery trend of EURUSD is further assured as it...
FX:XAUUSD earlier returned to the range after a false breakdown of resistance. The market is now fading as it is in the waiting phase for Powell's speech as well as the rest of the inflation news. Traders are waiting for PPI ( ECONOMICS:USPPIMM ) today as well as tomorrow's CPI ( ECONOMICS:USIRYY ) . Earlier, the market discussed the interest rate cut as...
Today, gold prices gently rebounded, oscillating around the $2338 to $2340 range as short-term traders took profits following an early-week decline. Meanwhile, the market remains on standby for upcoming data that could shed more light on the Federal Reserve’s (Fed) interest rate trajectory. Recently, Fed officials have indicated that the Fed would consider easing...
AD running a bearish cypher pattern on the 4hr. Also money flow/AD peaking with price action. Price action also hit my 1.618 fib level which is bearish. Money Flow and AD needs to breakout above b leg, however the down trend looks In tact. Short term bearish outlook.
Gold prices (XAU/USD) rebounded despite a strengthening U.S. dollar (USD) on Tuesday. The rise in the precious metal's value may be limited as traders might wait for critical U.S. inflation data due later this week. The mantra of higher-for-longer interest rates in the U.S. has exerted some selling pressure on XAU/USD in recent sessions. However, the flow into...