Rancy-SuperTrend

Rancy-SuperTrend Updated 

Gold prices edged up slightly higher and attempted to continue their gains on Tuesday. XAU/USD hovers around $1,900/troy ounce during the Asian session on Wednesday, having found signs of recovery after 4 consecutive weeks of default losses despite a firmer US Dollar (USD). However, growing risk aversion and concerns about the Chinese economy are weighing on Gold...

Rancy-SuperTrend

The Initial reaction to the data saw EURUSD spike 50 pips lower before hovering around the 1.0820 handle at the time of writing. Key area at present with the 200-day MA resting just below the 1.0800 handle and could cap further losses. EURUSD did face selling pressure as a stronger US Dollar and rising US yields saw the pair fall to support around the 1.0840...

Rancy-SuperTrend Updated 

On the 4-hour chart, the EUR/USD has broken short-term support levels from June, confirming an upward trend. However, resistance levels from July have maintained a downward technical trend. Immediate support can be seen at the 1.0833 - 1.0859 range. If this area holds, prices could rise and test the downward trend line from July, potentially sustaining a...

Rancy-SuperTrend Updated 

Gold prices (XAU/USD) fell to fresh five-month lows before stabilizing around $1,890 as market participants looked for more clues to extending the previous downturn, supported by recent downturns. hawkish Federal Reserve (Fed) concerns and risk aversion. That said, fears of a recession in China and weaker growth numbers in advanced economies coupled with firmer US...

Rancy-SuperTrend Updated 

Gold yesterday had a bearish day setting a new 1903 low as the greenback continued to strengthen. Positive economic data last Friday boosted USD demand. These numbers raise concerns that the Federal Reserve could still raise interest rates further at its next meeting in September, even as markets still widely expect the Fed to end its bull run. interest...

Rancy-SuperTrend Updated 

On August 14, the world's third largest economy, Japan, announced GDP growth in the second quarter of 2023, with an impressive increase of 6% compared to the same period last year, much higher than the expected level. previously reported is 3.7% and forecast is 3.1%. Along with positive economic information, the USD continued to strengthen. Specifically, the...

Rancy-SuperTrend Updated 

U.S. retail sales data released on Tuesday showed consumer spending remained strong in the country, potentially indicating more inflationary pressures in the coming months. Investors mostly favor the dollar and Treasuries as a safer haven than gold, as risk appetite worsens amid worsening economic conditions across most globally, especially in China. The...

Rancy-SuperTrend Updated 

15 minutes ago Open interest in gold futures markets extended the uptrend for another session on Tuesday, this time by around 3.4K contracts according to preliminary data from CME Group. At the same time, volume increased by nearly 45,000 contracts after two consecutive daily declines. Gold prices extended the pessimism in the first half of the week amid...

Rancy-SuperTrend Updated 

Gold prices eased slightly during the Asian session on Monday and fell to the $1,911-$1,910 zone, or the lowest since July 7 in the past hour. However, the intraday downtrend lacks further selling, warranting caution for the strong bearish traders and positioning for the recent extension of the bearish trajectory witnessed in about the past three weeks. The...

Rancy-SuperTrend Updated 

Gold prices make a modest recovery from July 7 lows around the $1911-$1910 region set during the Asian session this Friday and, for now, appear to have broken a four-day losing streak. price. XAU/USD is now trading around the $1,915-$1.916 region, up more than 0.10% on the day, despite a lack of bullish confidence and remains vulnerable. The US dollar (USD) is...

Rancy-SuperTrend Updated 

Gold prices attracted some buying power during the Asian session on Wednesday and partially recovered the previous day's losses to the $1,923-$1,922 region, or four-week lows. XAU/USD is now trading just below $1,930, up nearly 0.20% on the day, though any meaningful upside still seems elusive. A generally softer tone around the equity markets, coupled with a...

Rancy-SuperTrend Updated 

XAU/USD fell sharply early in the US session, hitting a fresh 4-week low of $1,922.74 per troy ounce, as demand for the US Dollar increased following comments from Reserve officials. Federal. unified report on the Consumer Price Index (CPI) of the United States (USA) July. Philadelphia Federal Reserve Bank President Patrick Harker said they are getting back to...

Rancy-SuperTrend Updated 

Gold (XAU/USD) prices fell to a one-month low as they fell to $1,914 in the early hours of the Asian session on Thursday. With that said, the precious metal doesn't welcome any positive news from China, or a drop in the US Dollar ahead of US inflation data. The reasons could be related to market concerns about the health of the banking industry and the global...