Welcome, dear friends, to our exploration of the tranquil waters of the gold market yesterday, where prices gently oscillated around Friday's closing figure of approximately $2159, in a serene anticipation of significant news expected to break on Thursday. Gold remains ensconced in its downward trend, encased within an unbroken parallel channel that signals the...
The gold price (XAU/USD) saw a modest recovery from its lowest point in over a week at the start of this week, despite remaining in negative territory for the first half of the European trading session. Meanwhile, the US Dollar (USD) continues its struggle to achieve any significant momentum amid ongoing uncertainty about the Federal Reserve's (Fed) interest rate...
EURUSD remains pressured around 1.0890 early Monday, after posting the first weekly loss in four. In doing so, the Euro pair grinds near the 1.0880-75 support confluence comprising the 100-SMA and a five-week-old rising trend line amid the initial hours of the week comprising the key Federal Open Market Committee (FOMC) monetary policy meeting. It’s worth noting...
Welcome to today's strategy analysis, where we revisit and forecast the next moves for XAUUSD, after a day of significant fluctuation. Current Analysis: XAUUSD witnessed a considerable decline yesterday, progressing through a descending triangle pattern and eventually breaking below the $2075 level. Despite this, gold quickly adjusted, forming an ascending...
NSE:SAIL Stock take a best support level of 134 rupees, buy above 143 rupees, Target 1 is 150 rupees, Target 2 is 160 rupees, stoploss below 130 rupees at least one day candle closed.
EUR/USD has recovered after two consecutive days of losses, approaching the 1.0930 level in the Asian trading session on Tuesday. However, the pair faced resistance amidst cautious market sentiment ahead of the release of US Consumer Price Index (CPI) data. Market expectations suggest that the US CPI will increase from the previous month in February, although the...
Hello dear friends! What do you think about the current trend of EURUSD? Today, EURUSD continues to decline, seemingly trying to gather strength to bounce back as the US dollar strengthens for the third consecutive day. Currently trading near the 1.0849 level, a quick look at the technical analysis chart shows that the downward momentum is still leading. As a...
USDJPY refreshes a two-week high during a six-day uptrend even as the Bank of Japan (BoJ) takes a historical decision to end the Negative Interest Rate Policy (NIRP), as well as the Yield Curve Control (YCC). It’s worth noting, however, that such a move was widely anticipated and hence, a “sell the fact” reaction appeared on the chart. However, a three-week-old...
Prices advanced in five waves from 0.6477 to 0.6667. This wave pattern is significant because impulse waves identify the direction of the larger trend. Thus, the five-wave advance in AUDUSD implies further buying to come that would push prices above 0.6667 as wave (iii). The subsequent decline that is developing in three waves supports this analysis. Counter trend...
Sock has bounced back from the support zone and currently hovering near it's previous swing high on daily charts. As per the current formation stock is likely to move up towards it's resistance zone with any weakness holding above 200-195 zone.
ITC Ltd as you all know it stablished in 1910, ITC is the largest cigarette manufacturer and seller in the country. ITC operates in five business segments at present — FMCG Cigarettes, FMCG Others, Hotels, Paperboards, Paper and Packaging, and Agri Business. Fundamental = strong Market Cap ₹ 5,23,098 Cr. Current Price ₹ 419 Stock...
Birla Corp , a key player in the cement industry, signals a compelling swing buying opportunity driven by strong technical indicators. Reasons are listed below : After multiple tests, a robust breakout above the 1600 zone signifies a significant shift in market sentiment. The breach of a consolidation area spanning over two years indicates a decisive move in...
Analysis A five wave decline from 107.34, the high on Oct 03, 2023 to 100.62, the low on Dec 28, 2023. In Elliott terms, this impulse structure tells us that the movement at the next larger degree of trend is also downwards. Within this impulsive structure, wave (i) is a Leading Diagonal, wave (ii) is a Flat which neatly predicts a Zigzag wave (iv) by...
AUDUSD appears well-set for biggest weekly loss in seven while extending the previous week’s U-turn from a 3.5-month-old horizontal resistance area surrounding 0.6675-80. The Aussie pair currently pokes the 200-SMA support near 0.6565 amid an impending bear cross on the MACD and a retreat in the RSI (14) line, which in turn suggests slower grind toward the south....
Welcome to our daily strategy session, where we dive into the current dynamics of USDJPY and outline potential moves for today! USDJPY is currently retreating, having found support amid a bullish sentiment around the 146.50-146.30 region. However, the plot thickens. Uncertainty surrounding the Bank of Japan's (BoJ) policy moves and a renewed appetite for the US...
Hello dear friends! What are your thoughts on the price of gold? Let's explore and discuss new strategies for gold together with RKarina. Overall, it has been a week of significant price increases for gold. The price has been rapidly developing and consistently creating surprises for traders. This comes after the latest employment report showed an increase in...
Analysis On 28th Feb 2024 USOIL seems like taking support of 100 Ema on Monthly and Daily TF. If it close above 5ema at the end of this February Monthly Closing it would be good confirmation to Buy.
Gold fades the previous day’s corrective bounce off the weekly low as market players await the US Retail Sales for February. In doing so, the spot Gold price, namely the XAUUSD, seesaws within a $48 trading range comprising an ascending resistance line stretched from May 2023 and the previous yearly top. It’s worth noting that the sluggish oscillators and the...