EUR/USD has seen a significant uptrend recently, surpassing the key resistance level of 1.1000. The Euro’s surge against the US Dollar has been quite impressive, with the pair breaking through the 1.0950 resistance level. On the hourly chart of EUR/USD, we can see a connecting bullish trend line that is providing support around 1.1090. The
Technical Analysis
BTCUSD has experienced a significant shift in market sentiment as it has been trading sideways in the past few sessions. The recent rejection at the 50-day SMA has further deteriorated the already bearish short-term picture for Bitcoin. This has raised concerns among investors and traders, leading to a decrease in bullish actions. Technical Indicators Showing
The price of gold has continued to rise steadily, reaching around $2500 per troy ounce, as investors flock towards safe-haven assets in light of ongoing geopolitical tensions. The ongoing conflict in the Middle East, with talks of ceasefire between Israel and Gaza, has contributed to the uncertainty in the market. These tensions have fueled the
The XAUUSD market is currently showing signs of a bullish trend, with potential for new all-time highs in the short term. Traders are advised to consider sell positions below 2470 and buy positions after a pullback above 2460, while setting profit targets and stop losses accordingly. On the daily timeframe, price consolidation is observed below
In recent market trends, crude oil prices saw a struggle to surpass the $80.00 resistance zone. Although there was a temporary spike above this level, the bears quickly appeared and pushed prices lower. This was evident on the 4-hour chart of XTI/USD, where the price began a fresh decline from the $80.26 high. As a
Gold prices experienced a rebound after a post-CPI selloff that initially pushed the precious metal down to around $2438/oz. The unexpected nature of this selloff was surprising to market participants, especially considering that US CPI figures had come in below expectations. This led to a reduction in rate cut expectations, causing a temporary dip in
The AUD/USD currency pair is currently consolidating gains near the 0.6620 zone after experiencing a downside correction from 0.6640 against the US Dollar. The pair managed to clear the 0.6580 resistance and move into a positive zone, with a close above the 0.6600 resistance and the 50-hour simple moving average. However, the pair faced resistance
The gold price has surged to nearly $2,460 today, a significant increase from the $2,385 level observed on the 8th of August. This rapid rise of approximately 3.3% in just over three trading sessions has brought the price per ounce close to the psychological barrier of $2,500. The bullish sentiment in the market is primarily
Following five consecutive days of gains, Brent crude oil prices are now in a consolidation phase, with a slight retreat to 81.80 USD per barrel. The market sentiment has been influenced by OPEC’s downward revisions of its demand forecasts for 2024 and 2025. These revisions are a response to weaker economic data coming out of
The New Zealand dollar is currently on the rise against the US dollar, with the NZD/USD pair reaching 0.6014 as of Monday. Market analysts are gearing up for the upcoming Reserve Bank of New Zealand (RBNZ) meeting, with expectations that the official cash rate will remain at 5.5% for the ninth consecutive time. This decision
China’s lacklustre core consumer inflation growth for July indicates that the current pace of piecemeal stimulus measures is not enough to eliminate deflationary pressures. The “non-abating” deflationary risk scenario has pushed the 10-year China sovereign bond yield to a record low of 2.12% on Monday, 05 August. This suggests that more substantial measures may be
Gold prices are on the rise once again, continuing a recovery that has lasted for the past three days. This recent surge can be attributed to the growing speculation that the Federal Reserve will increase interest rates by 50 basis points in September. The market is reacting to weak US economic data, hinting at a