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dipen228

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.