Downbeat US inflation data propelled the EURUSD pair to the highest levels since June on Tuesday. However, the upper line of the one-month-old bullish channel, currently around 1.0670, probed the pair buyers at the multi-day top. Also challenging the Euro bulls is the overbought RSI conditions suggesting a pullback in prices. As a result, an upward-sloping trend...
Despite retreating from the 100-DMA during the last week, EURUSD defends the upside break of the 50-DMA and five-month-old descending trend line as traders await the Fed’s verdict on Wednesday. The major currency pair’s latest rebound also gains support from the firmer oscillators. As a result, bulls are hopeful of overcoming the 100-DMA hurdle surrounding 1.0070....
Gold holds lower ground near the yearly bottom as the market braces for the Fed’s rate hike. In doing so, the yellow metal remains inside a six-week-old trend-widening pattern. That said, the quote is likely to stay bearish unless crossing the $1,715 hurdle. Ahead of that, the two-month-long horizontal resistance area surrounding $1,696 and the $1,700 threshold...
With the major data in line that is US - CPI data which is expected to come positive the Gold is set for another bullish run .
With the falling wedge formation the support will be 1718-1720
Target 1 : 1775
Target 2 : 1805
Stop loss : 1710
After the last fall in gold with strong USD , gold needs correction before the final fall to 1700-1680 level.
For the corrective ABC wave we are putting the target of 1774 and a stop loss of 1730 with the entry from 1739.
BUY GOLD FROM 1739
TARGET 1774
STOP LOSS 1730
EURUSD holds onto the one-week-old sideways grind ahead of the key Federal Open Market Committee (FOMC). As a 0.50% rate hike is well-known, as well as priced-in, the Fed will have to supersede market expectations to stay ahead of the curve and keep US dollar on the throne. In that case, the 100% Fibonacci Expansion (FE) of February-March, around 1.0485, holds the...
While a year-long resistance line has been testing gold buyers for one week, a six-week-old rising wedge bearish chart pattern teases sellers as markets brace for the Fed’s verdict. Given the sluggish RSI and receding bullish bias of the MACD, bears await a downside break of the $1,828 mark, comprising 50-SMA and 61.8% Fibonacci retracement of November-December...
Having reversed from 50-DMA, EURUSD dropped beneath the 20-DMA and made seller’s way clear for a battle with a six-week-old support line, around 1.1260. However, cautious sentiment ahead of the key data/events tests the pair’s further downside. Even so, bearish MACD signals and a steady RSI line keep sellers hopeful to revisit the 2021 bottom surrounding 1.1185....
The New Zealand dollar has steadied on Thursday after posting strong gains a day earlier. Currently, NZD/USD is trading at 0.7260, up 0.07% on the day. The pair has climbed 0.85% so far this week.
The New Zealand dollar continues to gain ground against the struggling US dollar. The kiwi has flexed its muscles in April, with sizzling gains of 3.97% this month,...
Although oversold RSI conditions placate gold bears around $1,790, a sustained trading below the $1,800 threshold joins expected further recovery in the US dollar to challenge the upside momentum. However, the quote’s further declines will have to break a descending trend line from mid-January, at $1,772 now, to revisit the November 2020 low near $1,765. On a...
