The GBP/USD pair is currently experiencing bullish momentum above the 1.2700 zone, indicating a positive trend for the British Pound against the US Dollar. A key rising channel is forming with resistance at 1.2785 on the 4-hour chart, suggesting that the pair may continue to move higher in the near future. The recent surge in
Technical Analysis
The EUR/USD pair is currently showing positive signs above the 1.0800 support level, indicating a potential upside break above the 1.0880 resistance on the 4-hour chart. The recent increase in the Euro against the US Dollar has been supported by a base formation and a break above key moving averages. Additionally, the pair is currently
The latest data shows that the 10-year JGB yield has been steadily climbing to 1%, accompanied by the 3-month and 6-month OIS rates in Japan ranging from 0.12% to 0.17%. Surprisingly, despite these bullish movements in JGB yields and OIS rates, the JPY has failed to strengthen. The main culprits for this short-term weakness in
The recent release of the minutes from the US Federal Reserve meeting revealed a notably cautious tone among policymakers. This cautious sentiment aligns with previous calls for a restrained approach to monetary policy. The Fed indicated that more time is needed to ensure that US inflation is moving towards the 2% target, dampening market expectations
The NZD/USD pair is currently on the verge of a mid-week rally, inching closer to the 0.6116 level. This marks the highest point for the Kiwi in the past two months, attributed to the Reserve Bank of New Zealand’s decision to maintain its monetary policy unchanged in the recent May meeting. The RBNZ chose to
Oil prices saw a downward trend on Tuesday as the Federal Reserve continued to take a cautious stance despite the recent softening of inflation. This cautious approach has raised concerns that US interest rates may remain at elevated levels for a prolonged period. Both Brent crude and WTI futures experienced a nearly 2% decrease from
The tragic news of the Iranian President Ebrahim Raisi’s death in a helicopter crash near the border with Azerbaijan sent shockwaves through the financial markets. Alongside the President, the helicopter also carried Foreign Minister Hossein Amir-Abdollahian and other officials, all of whom perished in the crash. As the search for the helicopter unfolded in the
AUDCAD has shown a steady increase, currently trading above 0.9100. Both the RSI and MACD indicators are holding in positive regions, indicating a bullish trend. The currency pair reached a 14-month high of 0.9125 on February 8, showcasing a strong upward movement. Despite facing resistance in the 0.9100 area, the technical indicators suggest that the
Gold prices have surged to new highs, surpassing the previous peak and reaching a fresh high of 2,450. This significant movement in the market indicates the potential for further increases in the coming days. The MACD shows strengthening positive momentum above its trigger and zero lines, while the RSI is approaching the overbought territory, remaining
The EUR/USD pair has shown a significant increase from the 1.0620 support level against the US Dollar. The pair successfully surpassed the 1.0750 and 1.0800 resistance levels, indicating a positive trend. The 4-hour chart reveals that the pair has moved above the 200 simple moving average and the 100 simple moving average, which further confirms
Silver (XAGUSD) has been showing signs of a rally in an impulsive structure from the low on 10.3.2023. This indicates a bullish momentum in the short term. Wave (1) ended at 25.91, followed by dips in wave (2) that ended at 21.94. The metal then surged higher in wave (3) towards 29.79, showcasing a positive
Silver recently surpassed $29.8, marking a new high from January 2021, but it encountered selling pressure at this level, leading to a pullback to $29.40. Despite this, silver does not appear to be overbought yet, with the RSI on daily timeframes just entering overbought territory. In the past month, silver experienced a three-week period of