MTradingGlobal

MTradingGlobal

EURUSD prints its first daily gain in five days as traders recover from a month-long low, preparing for the European Central Bank's (ECB) upcoming policy announcements. Despite the recent slowing of US inflation and speculation about possible significant rate cuts from the US Federal Reserve in late 2024, the Euro bulls remain cautious due to the ECB's dovish...

MTradingGlobal

GBP/USD remains flat at its lowest level in three weeks, ending a two-day losing streak. As traders await crucial economic data from the UK and the US, the Pound Sterling is testing a resistance level from late December 2023, which is now providing immediate support. GBPUSD bears flex muscles… Despite a long-standing resistance-turned-support line and upcoming...

MTradingGlobal

USDJPY ends a four-day decline and rebounds from its lowest point in a month as traders start the US inflation week with mixed feelings, especially after a disappointing employment report on Friday. Sellers are in control Despite the brief pause to recover from an ascending support line from late December 2023, the "Death Cross" on the moving averages and a...

MTradingGlobal

Gold buyers are gearing up for potential weekly gains as the metal rebounds from a resistance-turned-support level that's been holding steady for seven weeks. With the crucial US August jobs report, including the Nonfarm Payrolls (NFP), on the horizon, traders are cautious before the release. A smoother road for bulls Gold's recent bounce from past resistance...

MTradingGlobal

The EURUSD pair has lost momentum after briefly recovering from the 21-EMA support level. Traders are now focused on upcoming US job reports, including the Initial Jobless Claims, ADP Employment Change, and ISM Services PMI. This cautious mood is making it hard for the Euro to gain traction. Multiple catalysts lure Euro bears The EURUSD pair has been stuck in...

MTradingGlobal

The GBPUSD currency pair is currently at its lowest point in over a week as traders wait for important data releases on Wednesday. This data includes the UK’s S&P Global/CIPS PMIs for August and the US Factory Orders and JOLTS Job Openings for July. The Pound Sterling has recently broken below a key support level comprising a one-month-old ascending trend line,...

MTradingGlobal

The USDJPY currency pair has fallen for the first time in five days after hitting a resistance level on a one-month-old chart pattern. This drop reflects a shift to safer investments as traders await important economic data and deal with the return of full trading activity after a long weekend in the US and Canada. Buyers losing ground Along with the change in...

MTradingGlobal

GBPJPY reached a one-month high but then pulled back from the 200-day moving average (SMA) as traders get ready for important news this week, including PMIs and the US jobs report. The US and Canadian Labor Day holidays are allow the cross-currency pair to consolidate the previous weekly gains, especially amid the cautious mood in the market. GBPJPY buyers...

MTradingGlobal

Gold prices are currently stable within a triangle pattern that's been forming for a week. Traders are waiting for the US Core PCE Price Index data for August, which is the Federal Reserve's preferred measure of inflation. Gold prices have been fluctuating around last week’s record high, and technical indicators like RSI and MACD suggest mixed signals. Buyers...

MTradingGlobal

EURUSD pares its biggest daily loss in 11 weeks early Thursday. In doing so, it's bouncing back from a key support level and the 50-Exponential Moving Average (EMA). EURUSD bulls take a breather… This rebound suggests that the Euro might be running out of steam before important economic data is released. Among them, the first reading of Germany’s inflation...

MTradingGlobal

USDJPY has bounced back from a key support level that’s been in place for 13 months but remains in a short-term downtrend. The pair faces resistance from this old support line, now turned resistance, and the 21-day moving average (SMA). USDJPY recovery appears unreal… Although USDJPY is recovering from significant trendline support of around 143.70, indicators...

MTradingGlobal

The GBPJPY currency pair is making gains as it moves within a two-week upward trend, showing renewed optimism early on Tuesday. This rise supports the bullish trend that started in early August and counters the previous indecision seen last week. Currently, GBPJPY is trading above the 100-day moving average and has broken through a six-week-old downward...

MTradingGlobal

GBPUSD licks its wounds at the highest level since March 2022 as the overbought RSI line jostles with an upside break of the ascending resistance line, now support around 1.3060. This breakout, along with strong MACD signals and a weaker US Dollar, could push the pair towards the 1.3440 level, where it meets the 78.6% Fibonacci retracement from May 2021 to...

MTradingGlobal

Gold prices have ended a two-day drop as traders look ahead to the key Jackson Hole Symposium in Wyoming, where a speech by Federal Reserve Chairman Jerome Powell is highly anticipated. Gold has bounced back from its recent low, rebounding off the 10-day Exponential Moving Average (EMA) and a key previous resistance line. Positive signals from the Relative...

MTradingGlobal

EURUSD traders are taking a break at its highest level since July 2023 as they await August PMI data for the Eurozone and the US. They are also keeping an eye on Fed Chair Jerome Powell’s speech at the Jackson Hole event on Friday. The overbought RSI indicates a potential pullback, with immediate support around the 78.6% Fibonacci retracement level from...

MTradingGlobal

The USDJPY pair is currently recovering from its lowest point in two weeks and breaking a three-day losing streak. The US Dollar is bouncing back from a yearly low as traders await the latest Federal Open Market Committee (FOMC) meeting minutes. Despite this bounce, the Yen pair is still trading below important Exponential Moving Averages (EMAs) and shows bearish...

MTradingGlobal

GBPUSD snaps a three-day winning streak by easing from its highest level in a month as the US Dollar licks its wounds at the multi-month low. Despite this retreat, the Cable pair is still trading within a long-term upward trend channel and above important support levels. The positive signals from the RSI and MACD suggest that the Pound Sterling could still rise....

MTradingGlobal

EURUSD is bouncing back after a big drop, as traders wait for the University of Michigan’s Consumer Sentiment Index and Inflation Expectations for August. This bounce reverses the previous day’s decline from the highest level of 2024 and moves off the bottom of a four-week bearish chart pattern called rising wedge. The RSI indicates that the recent price increase...