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
Technical Analysis
Gold prices have been on a rollercoaster ride over the past week, with significant fluctuations in a short period of time. This extreme volatility can be attributed to various factors influencing the market sentiment towards the precious metal. From a technical perspective, gold managed to bounce back after touching its 50-day moving average, indicating some
The recent release of the Bank of Japan’s summary of opinions has sparked discussions among market participants. The bearish comments from BoJ policymakers have raised concerns about the future trajectory of the Yen. However, Deputy Governor Shinichi Uchida’s efforts to soften Governor Ueda’s aggressive remarks have helped stabilize the markets. The BoJ’s projection of reaching
The recent comments from the Bank of Japan’s deputy governor have had a significant impact on the USDJPY movement. The currency pair jumped more than 2% after the comments, which reduced the chances of further policy tightening in the near future. The central bank’s stance on not raising interest rates when markets are unstable brought
The Japan 225 stock index has recently experienced a significant downturn, dropping by 21% to a 10-month low of 30,361. This decline has been attributed to recession fears in the US and a bullish cycle of the yen. From a technical perspective, the index has fallen below its 200-day simple moving average, marking its sharpest
The short term Elliott Wave view in Oil (CL) indicates that the cycle from the 4.12.2024 high is currently in progress as a 5 waves impulse Elliott Wave structure. This suggests that there are clearly defined waves that are driving the movement in the commodity market. Breaking down the wave structure further, we can see
The gold price has been steadily increasing, surpassing the $2,440 resistance level. A key bullish trend line has formed with support near $2,440, indicating a positive uptrend. The price found support near $2,320 and has seen a strong uptrend above $2,400. However, there is a risk of a downside break if the price falls below
In the past 24 hours, the cryptocurrency market experienced a 0.75% loss, bringing the total market capitalization to $2.29 trillion. This slight decline follows a trend of synchronised selling that has been prevalent in the market recently. The sentiment index currently stands at 57, indicating greed among investors. This shift towards greed in the market
The recent surge in gold prices, reaching a new peak at 2460 USD per troy ounce, can be attributed to multiple factors. One of the main drivers behind this upward trajectory is the growing expectation of a rate cut by the US Federal Reserve. Signals from the Fed’s July meeting, coupled with weaker-than-expected US economic
The British pound sterling is facing a steady decline against the US dollar, as the GBP/USD pair is moving towards 1.2848. The pressure from the USD rate is a major contributing factor to this trend. However, the upcoming Bank of England meeting and its decision on interest rates are also playing a significant role in
Gold is showing signs of a potential recovery as it bounces off the support zone at $2,350. The recent price action on the 4-hour chart of XAU/USD indicates a positive movement, with the price surpassing key resistance levels. The break above the connecting bearish trend line at $2,388 is a bullish signal, suggesting a possible
The short term Elliott Wave view in E-Mini Dow Jones Futures (YM) indicates that the trend is expected to continue higher within the sequence that started from the April-2024 low as part of the daily sequence. The analysis suggests an upside movement in wave 5 of (5) since the 18th of April, 2024 low as