The article discusses the uncertainty observed in the price behaviour of the Nasdaq 100 near the resistance level of 18,840. This uncertainty was highlighted by a decline in price following the test of the resistance level and a subsequent test of the former resistance at 18,250. The long lower shadow on the candle indicated aggressive
Technical Analysis
At the beginning of this week, gold prices took a hit as they slipped below the $2320 mark. This downward pressure was also influenced by the lack of safe-haven appeal due to quiet geopolitical events over the weekend. The back-and-forth price action last week, driven by market reactions to potential interest rate hikes and the
The gold price has fallen to its lowest level in a month, indicating a downward trend in the market. This drop comes after hitting an all-time high of 2,450 and breaking below the 50-day simple moving average (SMA). The price reached a one-month low on June 7, signaling a significant pullback from its record peak.
The Japanese yen exchange rate against the US dollar has been under scrutiny as of late, and the latest developments do not paint a promising picture. The USD/JPY pair saw a rise to nearly 158.00 following the June meeting of the Bank of Japan where the interest rate remained unchanged. The market response seemed to
When analyzing the NZDUSD pair, it is evident that the pair has faced significant resistance around the 0.6220 level. Despite attempts to break through, the pair settled at 0.6170, indicating a struggle to move past this key resistance level. The Relative Strength Index (RSI) at 56 trending downwards suggests a drop in buying pressure. Additionally,
Crude oil prices have shown a strong recovery above the $75.00 resistance zone, marking a positive turn from the $72.65 lows. The price has managed to climb above key levels like $73.50 and $74.50, indicating a shift towards a positive trend. According to the 4-hour chart of XTI/USD, the price has surpassed both the 200
The financial markets are currently fixated on the Federal Open Market Committee (FOMC) interest rate decision, as well as crucial economic indicators such as the Consumer Price Index (CPI) and the Producer Price Index (PPI). In the wake of rate cuts by the European Central Bank (ECB) and the Bank of Canada (BOC), there are
As the GBPUSD reached its highest level since March 13, excitement grew among traders. However, this rally was short-lived as it quickly reversed lower. This sudden shift can be attributed to the fact that the market believed the rally had gotten overstretched. Momentum indicators eased, but still remained in positive zones, signaling a complex situation
As investors kick off the week, they are met with a cloud of uncertainty looming over Europe’s political landscape. The recent results of the four-day European Parliament elections have shown a significant rise in eurosceptic-nationalists, displacing liberals and greens. This shift in power has led to President Emmanuel Macron dissolving the French Parliament and calling
The USD/JPY pair is currently eyeing an upside break above the 156.40 resistance level. It has formed a base and initiated a fresh increase, surpassing key resistance levels at 155.80 and 156.00. However, bears are currently active near the 100 simple moving average on the 4-hour chart, leading to consolidation near the 200 simple moving
The US dollar index has hit a crucial level near the support trendline at 104.00. While this could potentially mark the beginning of a new bullish phase, the technical signals are mixed and uncertain. The stochastic oscillator is hovering near oversold territory, but the RSI remains below the neutral mark of 50. Additionally, the MACD
Gold prices have recently surged to 2368 USD per troy ounce, marking the second consecutive session of upward momentum. This increase can be attributed to market expectations adjusting to the likelihood of future interest rate cuts by the Federal Reserve. Recent employment data, particularly from ADP, indicated a slower-than-expected growth in private-sector jobs in the