Despite marking a corrective pullback from a monthly low, gold prices remain below the key hurdles, namely an ascending trend line from August and a convergence of 50, 100 and 200 DMAs. The same joins downbeat RSI line and recently bearish MACD signals to keep gold sellers hopeful. That said, March’s high and April's low, around $1,756, seem to be at a hand’s...
Having failed to sustain the early October bounce, EURUSD bears are on the way to testing the March 2020 high near the 1.1500 threshold on the day of the US Nonfarm Payrolls (NFP) release. It should be noted, though, that the lower line of a five-month-old falling wedge, around 1.1450 at the latest, will take the help of the RSI conditions to rebound. Hence, the...
Gold buyers attack a three-week-old resistance line as the market’s anxiety underpins the metal’s haven demand. However, the US Nonfarm Payrolls (NFP) remains awaited for fresh clues as the same will pave the ground for Fed tapering, which in turn could portray the US dollar strength and weigh on the gold prices. Technically, the immediate resistance line near...
Despite multiple failures to break 61.8% Fibonacci retracement of June–August downside, not to forget the double-tops marked in July, gold prices stay above 100-day and 200-day EMA confluence amid firmer RSI and MACD conditions. The same keeps the buyers hopeful to mark one more effort to cross the key Fibonacci hurdle and double tops, respectively around $1,822...
After breaking an ascending support line from late June, now resistance, gold bears battle 200-HMA amid cautious market sentiment ahead of the US Nonfarm Payrolls (NFP) data. It’s worth noting that the sluggish MACD and downbeat RSI adds to the trading filters. Even so, hawkish expectations from the data may firm the tapering woes and back gold sellers should they...
The Canadian dollar is steady in Friday trade, after sustaining considerable losses a day earlier. In the North American session, USD/CAD is trading at 1.2118, up 0.11% on the day.
The US dollar was broadly higher on Thursday, as the Fed surprised the markets when it announced that it will begin to scale back its portfolio. The Fed ended its purchase of...
The heaviest fall since late February couldn’t beat gold buyers as the metal stays above the key support line from March 31, near $1,851, on the key US NFP release day. Additionally important are the speeches of US President Joe Biden and Fed Chairman Jerome Powell. It should be noted that while MACD and RSI flash contrasting signals, bears will have a bumpy road...
The New Zealand dollar has recorded losses for a third straight day. In the European session, NZD/USD is trading at 0.7212, down 0.33% on the day.
The ANZ Commodity Price Index climbed 1.3% in May, marking an eighth consecutive rise. The index rose to a record level, as commodity prices rose in all major categories. The rise in commodities this year is in sharp...
With Fed’s Powell joining the league of the ECB policymakers to placate the bond bears, who ultimately failed, EURUSD bears cheer downside break of 100-day SMA for the first in over four months. However, February lows seem to question the further weakness of the pair ahead of the key US employment data for February, led by the NFP. While it is mostly expected to...
As we have seen the xauusd fall on the recent event and US data, it's clear we are again going into short for xauusd as its price already below EMA 50.
My analysis on gold says we should let rise gold little and then short till 1825 again.
Not only a downside break of an ascending trend line from March but a daily closing below 200-day EMA and January low also favor gold bears on Friday. Although the pre-NFP trading dullness triggered consolidation from a nine-week low, the yellow metal keeps the previous day’s breakdown of the key technical levels. As a result, the bullion sellers currently eye a...
will AUDNZD pair follow the channel and continue on a bullish momentum or will it respect the SHS?
1.07230 is the zone to watch out for either a break or bounce.
THIS IS NOT A FINANCIAL ADVICE ALL TRADES SHOULD BE TAKEN BASED ON YOUR PERSONAL DECISION.
