Sphyn-Trader

Sphyn-Trader Updated 

Hello trader, I'm back with my best analysis. Let's trade with me ❤️ ① Currently, gold prices are still rising at a high level, forming a "small triangle" chart pattern in the short term. The market could start a new short-term trend tonight. ② Since Powell will speak on Friday, If in this case: Plan A. If gold prices strongly break out of the "small triangle",...

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GBPJPY remains choppy from a price action perspective with higher highs followed up by lower lows. Much like USDJPY both bulls and bears seem to lack conviction at this stage with the descending trendline growing more vulnerable with each retest. As its stands and barring any intervention a break above the trendline is growing more and likely as the 100-day MA...

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The Palestinian-Israeli conflict is not over yet. Palestinians and Hamas say Israeli air strikes on hospitals in the Gaza Strip have killed more than 500 people. The Israeli military said the attack on hospitals in Gaza was carried out by Jihad, which the group denies. Russia has asked the Security Council to hold an urgent meeting on this issue. Jordan canceled...

Sphyn-Trader Updated 

The EUR/USD firmly in the green for Tuesday after US Retail Sales beat market expectations and saw upside revision to previous figures, sending investor risk appetite into the ceiling and sending the US Dollar (USD) broadly lower, bolstering the Euro (EUR) and taking the EUR/USD up from the day's early low of 1.0532 and sending it within inches of the 1.0600 major...

Sphyn-Trader Updated 

Important statements by ECB member Ben about inflation and tightening approaches ➡ Yesterday, Monday, in an interview, European Central Bank member Philip Lane made the following statements: - The European Central Bank's decision to raise interest rates took longer than the US Federal Reserve's decision due to several factors. - In 2021, demand played a more...

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♦️ Wage pressure in the UK eases, the pound weakens compared to the euro and dollar 🔹 Oil prices stabilized thanks to hopes that the US will ease sanctions on Venezuela ① Oil prices stabilized on Tuesday after falling more than $1 on Monday. US crude oil is currently trading around 86.95 USD/barrel, down about 0.1%. Markets expect the US will ease sanctions on...

Sphyn-Trader Updated 

USD/JPY consolidates in a tight range around 147.40 ahead of US UoM confidence data The USD/JPY pair consolidated its recent gains in a tight range below the mid-147.00s during the first hour of Asian trading on Friday. The stronger US dollar (USD) is underpinned by strong US economic data. Meanwhile, the US Dollar Index (DXY), a measure of the USD's value...

Sphyn-Trader Updated 

EUR/USD languishes near six-month low, looks vulnerable below mid-1.0600 EUR/USD vulnerable after decisive break below 1.0700, resuming downtrend. A daily close below 1.0650 suggests the pair remains vulnerable to further losses as it looks for the following support to emerge at 1.0625 and then 1.0595. A rally above 1.0830 will change the current outlook to neutral.

Sphyn-Trader Updated 

The GBP/JPY pair slid to a new five-week low after touching 182.51 on Thursday, falling off 184.00 in the final trading session of the week. The British Pound (GBP) has struggled to develop further momentum against the Japanese Yen (JPY) recently, with the Guppy marking a move towards the 50-day Simple Moving Average (SMA) after failing to maintain maintained the...

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After opening the week lower, gold prices have stabilized above the key 200-day Simple Moving Average (SMA) slightly below $1,920. In case this support remains intact ahead of next week's highly anticipated August inflation data from the US, investors may hesitate to bet on further XAU/USD weakness. Support levels: 1,907.30 1,893.90 1,884.70 Resistance...

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As long as 185.76 resistance holds, further decline is expected in GBP/JPY. Break of 182.66 will resume the fall from 186.75. Sustained trading below 55 D EMA (now at 182.39) will argue that it’s already in a larger scale correction and target 176.29 support next. On the upside, break of 185.67 resistance will indicate that the pull back from 186.75 has completed....

Sphyn-Trader Updated 

Gold prices added to the weekly retracement on Wednesday. The downtick was on the back of a small build in open interest, which hints at the probability that extra losses could be in store for the commodity in the very near term. Against that, the $1900 mark per troy ounce emerges as a key contention area for the time being.

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- EUR/USD is holding on to recovery gains near 1.0750 as the US Dollar (USD) remains behind according to mixed US Consumer Price Index (CPI) data. - The annual measure of US inflation rose 3.7% in August, compared with an expected 3.6% increase. CPI rose 0.6% in August, the biggest monthly increase of 2023 and in line with market estimates. Core CPI rose 0.3% and...

Sphyn-Trader Updated 

EUR/USD retreated moderately on Tuesday. It jumped to 1.0769, its highest in a week during the Asian session, but then reversed course, holding above 1.0700. Markets await US consumer inflation data and the European Central Bank meeting. Data released on Tuesday showed a mixed survey by Germany's ZEW. The current conditions index weakened further to -79.4 (lowest...

Sphyn-Trader Updated 

The BoE has actually adopted a more cautious stance recently, as is clear from Governor Andrew Bailey's statement that the central bank is approaching the peak of its interest rate hike cycle. Despite persistent inflationary pressures, the BoE faces a delicate balancing act, as being too aggressive with interest rate hikes could endanger the UK economy. SELL...

Sphyn-Trader Updated 

The US consumer price index (CPI) is expected to increase 0.5% month over month, which is an improvement from the previous month's reading of 0.2%. Meanwhile, the core CPI figure, which excludes volatile food and energy prices, is forecast to remain steady at 0.2%. These numbers could provide insight into overall inflation trends in the US economy and could have...

Sphyn-Trader Updated 

The GBP/JPY pair is on track to end the day close to its starting point, as market fluctuations caused the Guppy to trade back and forth due to changing sentiment. Traders of Pound Sterling (GBP) are preparing for a data-heavy economic calendar in the United Kingdom (UK) during the first half of the week. Meanwhile, broad-market support for the Yen (JPY) has...

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During the Asian session on Tuesday, USD/JPY is struggling to rebound from its losses in the previous day. The pair is treading water around 146.60 as market participants await the release of the US Consumer Price Index (CPI). The downward pressure on the pair can be attributed to both bullish comments made by the Bank of Japan (BoJ) and a lackluster performance...