Technical Analysis: Gold price bulls await a convincing breakout through the 50-day SMA before placing aggressive bets From a technical perspective, sustained strength and acceptance above the 50-day SMA will set the stage for an extension of the recent recovery from the $1,984 region, or a two-month low touched last week. Given that oscillators on the daily...
Looking for a good selling setup, Proper Risk Management Suggested.
Gold XAUUSD trades mostly sideways for 3 days as we consolidate Wednesday's big rally. Yesterday we held within Friday's range with a low for the day 4 points above support at the October & short term 38.2% Fibonacci level of 2012/2008. Longs here today need stops below 2005./ Eventually the market will probably refocus on lower interest rates & Gold will climb...
USD/CHF, “US Dollar vs Swiss Franc” USD/CHF has completed a wave of correction to 0.9024. A structure of growth to 0.9064 might form today. Next, a link of decline to 0.9010 is expected.
USD/JPY, “US Dollar vs Japanese Yen” USD/JPY has completed a wave of correction to 150.15. Today the market is consolidating above this level. With an escape upwards, a new wave of growth to 152.20 could begin.
USD/CAD tumbles to near 1.3800 as investors see Fed rates peak for now The USD/CAD pair falls vertically after a short-lived pullback to near 1.3850 in the European session. The Loonie asset faces an intense sell-off as the US Dollar extends downside on expectations that the Federal Reserve (Fed) is done with hiking interest rates for now. S&P500 futures...
EUR/USD consolidates ahead of the Federal Open Market Committee (FOMC) policy decision with the expectation of maintaining the current interest rate at 5.5% in November’s meeting. The pair trades lower near 1.0570 during the Asian session on Wednesday. The EUR/USD pair seems to be facing restrained momentum as the 14-day Relative Strength Index (RSI) lies below...
The short-term technical outlook for Gold price remains in favor of buyers, with a ‘dip-buying’ strategy to hold ahead of the Fed decision. The 14-day Relative Strength Index (RSI) indicator has retreated from the overbought territory, reopening doors for more upside. Further supporting the bullish view, the 21-day Simple Moving Average (SMA) and 50-day SMA...
AUD/USD Price Analysis: The key barrier is seen at the 0.6600 area The AUD/USD pair remains on the defensive around 0.6555 in the Asian trading hours on Wednesday. The prevalent US Dollar buying bias is supported by the headlines surrounding the US-China relationship. That said, the US government intends to target only Chinese companies that generate more than...
Gold is currently taking a pullback for the market correction, we can grab the short term buying opportunities in it.
Further downside past 0.6100 appears more impulsive. NZD/USD stands on slippery ground as it renews its intraday low near 0.6060 heading into Tuesday’s European session, printing the biggest daily loss, so far, in a week. In doing so, the Kiwi pair justifies late previous week’s inability of the bulls to retake control after breaking an upward-sloping support...
Gold prices kicked off the week on the back foot amidst shrinking open interest and volume, which suggest that a deeper and sustained pullback seems not favoured for the time being. In the meantime, the so far monthly low at $1924 (August 4) is expected to offer initial support. Looking for Selling Opportunities in gold.
USDJPY is moving in downward trend and continues the downtrend, Looking for short term selling opportunities in it.
USDJPY is moving in downward trend as the pullback is complete and currently looking for short term selling opportunities in USDJPY.
GBPUSD follows the uptrend and looking for short term buying opportunities in it.
XAUUSD has completed a pullback and again following the Uptrend, Looking for Short Term Selling Opportunities in it.
GBPUSD is oscillating in a 1.20000-1.2126 range for the past 10 trading sessions. The 200-EMA around 1.2027 is acting as a major cushion for the cable. A 40.00-60.00 range oscillating by the RSI indicates of a Potential Trigger. Looking for Buying Opportunities in it, Proper Risk Management Strategies Suggested.
XAUUSD recaptures $1830-1842 as Fed to declare higher interest rate peak, Looking for short term Selling Opportunities in gold., Proper Risk Management Suggested.