dipen228

dipen228

It seems like you are describing a potential trading scenario for the AUD/USD pair based on a clear downward channel breakout after some event related to the USD. You mentioned potential price targets of 0.6598, 0.6606, and 0.6624.

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In recent market developments, the XAU/USD (Gold/US Dollar) pair has experienced a notable breakout on the H4 (4-hour) chart, triggered by the release of key economic data from the United States. Breakout Analysis: The H4 chart indicates a clear breakout, signaling a substantial movement in the price of Gold against the US Dollar. Traders and investors are...

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Gold price is licking its wounds at around $2,025 in Wednesday’s Asian trading, having incurred heavy losses on Tuesday, courtesy of the unabated demand for the US Dollar (USD) amid a further escalation in the Middle East geopolitical tensions and easing bets for aggressive US Federal Reserve (Fed) rate cuts this year. The US Dollar found solid demand on Tuesday,...

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The short-term technical outlook for Gold price remains in favour of buyers after the bright metal closed Friday above the 21-day Simple Moving Average (SMA) at $2,046, breaking the weekly range trade to the upside. The 14-day Relative Strength Index (RSI) indicator is looking firmer above the midline, suggesting that there is more scope to the upside for Gold...

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From a technical perspective, any subsequent move up is likely to confront some resistance near the $2,040 horizontal zone, above which the Gold price could aim to retest Friday's swing high, around the $2,063-2,064 region. The next relevant hurdle is pegged near the $2,077 area, which if cleared decisively will negate any near-term negative outlook and allow...

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The EURCAD breakout in the hourly chart presents an excellent educational opportunity to understand technical analysis and trading strategies. This scenario provides a practical example of how to identify support levels, interpret market movements, and utilize Fibonacci targets for potential trade opportunities. By following this breakout and observing its...

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Channel breakout on the upside and now price on the key area so good opportunity for trade with a 1:2 or 1:3 ratio. an important area to watch is mentioned in the chart kindly follow tight stop loss.

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The Relative Strength Index edged higher to 50 on the 4-hour chart, reflecting a loss of bearish momentum. On the upside, the pair faces stiff resistance at 1.0820 (200-day Simple Moving Average (SMA), Fibonacci 38.2% retracement of the latest uptrend). A daily close above this level could open the door for additional gains toward 1.0870 (100-period SMA on the...

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From a technical perspective, the XAU/USD, for now, seems to have stalled its recent sharp pullback from an all-time peak touched last week near the 50% Fibonacci retracement level of the June-December rally. The said support is pegged near the $1,975 area and is followed by the 50-day Simple Moving Average (SMA), currently around the $1,967 region. Some...

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The pound Sterling extended its reigns over the United States Dollar (USD) this week, pushing GBP/USD to the highest level in three months above 1.2700. Traders brace for the US Nonfarm Payrolls (NFP) in the upcoming week, keeping the sentiment around GBP/USD underpinned. GBPCHF breaks and retests the support area its a great opportunity to sell the market with...

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Germany’s Factory Orders unexpectedly declined in October, the official data published by the Federal Statistics Office showed Wednesday, suggesting that the German manufacturing sector recovery is in the doldrums once again. On a monthly basis, contracts for goods ‘Made in Germany’ dropped 3.7% when compared to a 0.2% increase reported in September, missing the...

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The NZDUSD heads into the Wednesday market session struggling near the 0.6130 level as the kiwi (NZD) locks in two consecutive days of declines against the US Dollar (USD). Market sentiment soured early Tuesday after Moody’s downgraded China’s sovereign debt outlook, with the rating agency citing the Chinese government’s looming expenses should China need to...

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The AUDUSD pair attracts some intraday sellers in the vicinity of the 0.6700 mark, or over a five-month top touched during the Asian session on Monday, and drops to a fresh daily low in the last hour. Spot prices currently trade around the 0.6660 area, down just nearly 0.10% for the day, and the downside is sponsored by a modest US Dollar (USD) uptick.

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Gold price is consolidating gains below $2,100, having reversed sharply from the all-time-high of $2,144 early Monday. Gold price rocketed amid increased bets of a March Fed rate cut and fresh geopolitical concerns between Yemeni Houthis and the US, as well as, Hamas and Israel

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EUR/USD is accelerating its slump toward 1.0900 after softer-than-expected Euro area inflation data boosted ECB rate cut expectations. The pair is also weighed down by the extended US Dollar recovery. All eyes are now on the US PCE inflation data.