Overall, Gold is still maintaining a strong upward trend due to political tensions in the Middle East. On the 1-hour chart, we see that prices are still fluctuating near the Simple Moving Averages (SMA) and holding steady around the retreat level of 2,431-2,432 USD. However, there are signs indicating that prices are gradually adjusting and may transition to a...
USD continues to maintain its advantage over JPY in the US trading session on Monday, pushing the USD/JPY currency pair higher. However, the RSI indicator on the 4-hour chart suggests that this currency pair is currently overbought, hinting at a potential downward correction in the near future. Nevertheless, this could also present an opportunity for investors, as...
The British pound (GBP) showed modest recovery against the US dollar in Monday's US trading session. However, short-term demand for the GBP/USD pair remains low due to escalating tensions in the Middle East and speculation that the Bank of England (BoE) will commence interest rate cuts earlier than the Federal Reserve. The British pound experienced a strong...
In the European trading session on Monday, the EUR/USD pair recorded stable and modestly higher trading, maintaining above the 1.0650 USD. On the 4-hour chart, the RSI indicator is trading below the 30, indicating an oversold market and a strong downward trend. However, this is also a sign of a potential correction and upward recovery in the near future. On...
In recent US trading, GBP/USD has sharply declined below 1.2450, driven by the stable strength of the USD. This sustained USD dominance has intensified the downward pressure on GBP/USD, resulting in continuous price drops. From a technical perspective, GBP/USD has shifted to a downward trend, consistently forming lower highs and lows and breaking crucial support...
In the European trading session last Friday, the EUR/USD currency pair continued to experience a sharp decline, with prices dropping below the 2.700 mark. This indicates that selling pressure is dominant in the market, and market sentiment is increasingly negative towards the Euro compared to the US Dollar. Looking at the 1-hour chart, we can see that the price...
Gold continued to rise towards the $2,400 in early Asian trading on Friday, amid expectations that the Federal Reserve will cut interest rates this year. Additionally, the purchase of gold by the People's Bank of China and political tensions in the Middle East have further propelled the price of gold higher. Reaching the $2,400 milestone can be seen as a positive...
The price of gold continues to challenge the record high of 2,365 USD and regain momentum after dropping near the 2,319 USD level in Thursday's Asian trading session. On the 4-hour chart, the Simple Moving Average (SMA) 20 has also been surpassed at the 2,342 USD mark, and the Relative Strength Index (RSI) remains stable around 60, indicating reduced selling...
In Thursday's European trading session, the EUR/USD pair traded steadily and fluctuated within a narrow range near the 1.0750 level. The pair is facing consolidation of bearish pressures, particularly after the release of US CPI data, prompting traders to be cautious in placing bets ahead of ECB policy announcements. From a technical perspective, on the 4-hour...
EUR/USD is trading at 1.0850 in the European trading session on Wednesday. However, it is currently trapped between the three simple moving averages SMA 20, 50, and 100. While there are some positive signs for an upward trend based on technical indicators, the current price is showing signs of correction. This could lead the market to shift from an upward trend...
At the moment, the price of the GBP/USD currency pair is still going up, which is making investors and traders feel positive. But when the US released its inflation data on Wednesday, the price of GBP/USD suddenly dropped a lot, down to 1.2600. This happened because the US dollar (USD) became stronger after the inflation data came out higher than expected. So, the...
In the European trading session on Tuesday, the price of gold surpassed the $2,360 threshold, marking a new high. However, a price decrease occurred as gold adjusted to $2,350 during the Asian trading session on Wednesday. Based on technical indicators such as the Relative Strength Index (RSI) and Simple Moving Average (SMA), there are still positive signs....
The USD/JPY currency pair surged to a high of 152.000 following comments from BoJ Governor Ueda. His stance indicated that the BoJ is in no rush to raise interest rates, diminishing the attractiveness of the Yen. However, the USD/JPY price began to decline to 151.75 during Tuesday's US trading session. This suggests signs of a short-term downturn, particularly as...
GBP/USD continues to move sideways, awaiting US inflation data for fresh guidance. Despite fluctuations, GBP/USD maintains stability, hovering around the 1.2660 level, within Monday's trading range. Technical indicators, such as the Simple Moving Average (SMA) and Relative Strength Index (RSI), currently signal support for the upward trend of this currency pair....
The EUR/USD pair started Tuesday with a slight increase, reaching around 1.0860 during the Asian trading session. The decline in the US Dollar (USD) provided some support for this currency pair. Looking at the chart, you'll notice a clear recovery in the uptrend. Its short-term target is set at 1.0876, followed by a longer-term target of 1.0942 (March 21)....
The price of gold is holding steady around $2,350 in the Asian trading session on Tuesday, with the market awaiting new catalysts for the next directional move. Looking at the 1-hour chart, we can see that gold is undergoing a period of adjustment as it retraces back towards the SMA 20 moving average. This is a strong signal indicating that the market is in...
After surpassing the 2.300 threshold, the price of gold experienced a slight decline, but during the Friday trading session in the United States, the market witnessed a brief downturn. Subsequently, gold prices rebounded and continued to surge strongly, surpassing the 2.330 mark to establish a new peak. Despite positive indications of growth in the US Dollar...
The price of gold has recorded a significant surge, reaching an all-time high of 2,354, immediately after the opening of the Chinese market. This growth has been fueled by the positive sentiment among traders, especially after the People's Bank of China (PBOC) announced an increase in gold purchases. When looking at the H4 chart, we notice that the RSI indicator...