KingForex078

KingForex078

Gold price (XAU/USD) struggles to capitalize on its goodish intraday bounce from a one-and-half-week low touched earlier this Friday, though it manages to stick to modest gains through the first half of the European session. The US Treasury bond yields remain suppressed amid bets that the Federal Reserve (Fed) will lower borrowing costs in December. This, in turn,...

KingForex078

The US Dollar flat with dust settling over Nonfarm Payrolls number. The Greenback is being rebalanced with markets looking for a December rate cut from the Fed. The US Dollar Index (DXY) is back above pivotal support at 105.50, heading to 106.00The US Dollar Index (USDX) is an index (or measure) of the value of the United States dollar relative to a basket of...

KingForex078

AUD/USD attracts fresh sellers and is pressured by a combination of factors. A softer risk tone and bets for an early RBA rate cut undermine the Aussie. Subdued USD demand fails to lend any support ahead of the US NFP reportThe AUD/USD pair experienced significant weakness on Friday, sinking near its August lows at 0.6350 after the release of the USThe data showed...

KingForex078

The US Dollar (USD) fell following the release of the United States (US) Nonfarm Payrolls (NFP) report, pushing GBP/USD to a fresh one-month high of 1.2810. According to the US Bureau of Labor Statistics (BLS), the country added 227,000 new job positions in November, beating the 200,000 expectedAdditionally, the Unemployment Rate ticked up to 4.2% in November from...

KingForex078

Ethereum (ETH) trades above $4,000 for the first since March on Friday after seeing record ETF inflows and higher preference from investors over Bitcoin.Since the US elections, Ethereum has outshined Bitcoin, with its growth accelerating after SEC Chair Gary Gensler announced he would retire on January 20, Bybit noted in a December 5 "Volatility Review" report....

KingForex078 Updated 

Bitcoin (BTC) trades slightly down at around $67,500 on Friday after finding support around the $66,000 level on Wednesday, following three consecutive days of decline earlier in the week. While prices are down around 2% this week until Friday, the technical outlook suggests a bullish bias for BTC, projecting a new all-time high of $78,900 in the short-termThis...

KingForex078 Updated 

Gold price struggles to capitalize on its goodish intraday bounce from a one-and-half-week low touched earlier this Friday, though it manages to hold above $2,630. Investors refrain from taking large positions ahead of the November jobs report from the US. From a technical perspective, an intraday breakdown below the 100-period Simple Moving Average (SMA) on the...

KingForex078 Updated 

Following a consolidation phase near $2,640, Gold gains traction and rises to the $2,650 area. The benchmark 10-year US Treasury bond yield pushes lower after weak macroeconomic data releases from the US, helping XAU/USD stretch higher Gold now sell 2651 Support 2631 Support 2622

KingForex078

The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Pound (the base currency). It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading (one of today's most popular trading strategies). A carry trade happens when a person sells or borrows an asset with a...

KingForex078

AUD/USD reacts little to better-than-expected Australian Goods Trade Balance data and remains in a range above 0.6400 early Thursday. Rising bets for an early RBA rate cut cap the Aussie's upside amid China's economic woes and US-Sino trade war fears. Eyes turn to US data, FedspeakThe AUD/USD pair dives more than 1% to near the round-level support of 0.6400 in...

KingForex078

GBP/USD trades with a positive bias for the third straight day and rises further above the 1.2700 mark in the European session on Thursday. The pair takes advantage of the sustained US Dollar weakness and mild risk appetite heading into the US data releases later in the day The Relative Strength Index (RSI) indicator on the 4-hour chart holds slightly above 50 and...

KingForex078 Updated 

Bitcoin (BTC) experienced a 7% correction earlier in the week, dropping to $90,791 on Tuesday before recovering to $97,000 by Friday. On-chain data suggests a modest rebound in institutional demand, with holders buying the dip. A recent report indicates BTC remains undervalued, projecting a potential rally toward $146K. Additional optimism stems from Morocco’s...

KingForex078 Updated 

Gold starts the new week on the back foot and trades below $2,650. The renewed US Dollar strength and the recovery seen in the US Treasury bond yields don't allow the pair to stage a rebound despite the risk-averse market atmosphere. From a technical perspective, an intraday slide below the lower boundary of a nearly one-week-old descending channel could be seen...

KingForex078 Updated 

Gold pulls away from daily highs, holds near $2,650 Gold retreats from the daily high it set above $2,660 but manages to stay afloat in positive territory at around $2,650, with the benchmark 10-year US Treasury bond yield losing more than 1% on the day. Despite Friday's rebound, XAU/USD is set to register losses for the week.Technically, Gold buyers are fighting...

KingForex078

The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Pound (the base currency). It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading (one of today's most popular trading strategies). A carry trade happens when a person sells or borrows an asset with a...

KingForex078

The Pound Sterling clings to earlier gains yet trades off the weekly highs, which reached around 1.2749 during the European session. At the time of writing, the GBP/USD trades at 1.2684, virtually unchanged.GBP/USD Price Forecast: Technical outlook Although the GBP/USD is set for weekly gains of over 1.2%, price action suggests Cable didn’t find acceptance above...

KingForex078 Updated 

Gold price (XAU/USD) sticks to its intraday bullish bias through the early European session on Friday and currently trades just below a four-day top, around the $2,657-2,658 area. Concerns about the effect of US President-elect Donald Trump's trade tariffs on global growth and the protracted Russia-Ukraine war continue to drive haven flows towards the precious...

KingForex078 Updated 

Gold price (XAU/USD) drifts lower during the Asian session on Thursday, albeit finds some support near the $2,620 area and has now trimmed a part of its intraday losses. Wednesday's US macro data dump pointed to a still resilient US economy and stalled progress on inflation, suggesting that the Federal Reserve (Fed) might be cautious about further rate cuts. This,...