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GBP/USD maintains its position below the lower boundary of the ascending regression channel, with the Relative Strength Index (RSI) exhibiting a sideways movement above the 50 level, indicating a potential uptrend in the near future. The level at 1.2780 (static level) is considered a temporary resistance before 1.2830 (the endpoint of the latest uptrend, highest...

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The EUR/USD pair has experienced a deeper decline, touching its lowest point in 2024 at 1.0861 (as of January 16). It is now approaching a critical level, the 200-day Simple Moving Average (SMA) at 1.0847. If this support is breached, the December 2023 low of 1.0723 (on December 8) may reappear, preceding the weekly low of 1.0495 (on October 13, 2023), followed by...

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The current state of Bitcoin's value requires a push from investors, as the cryptocurrency finds itself hovering around the $43,000 mark at the time of writing. Following a 7.7% dip over the past weekend, BTC has fallen below the upward trendline, which previously acted as a crucial support level. The Relative Strength Index (RSI) has also, for the first time in...

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Gold experienced a significant decline on Tuesday, completely erasing the previous month's gains and edging closer than ever to the 50-day simple moving average, a crucial support indicator just above the $2,010 level. Bulls must diligently defend this technical floor, as failure to do so could trigger a downward momentum towards $1,990, followed by $1,975. On...

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Gold extends its three-day rally, reaching $2,055 per troy ounce in Asian trading on Monday. The surge is fueled by risk aversion from Middle East political tensions and speculation about a March interest rate cut by the Federal Reserve (Fed). Escalating Israel-Gaza conflict, especially after an Iranian-led Houthi missile attack on the USS Laboon, boosts Gold...

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Technically, Gold's recent bounce from the 50-day SMA and positive momentum on the daily chart favor bullish sentiments. Caution is advised for a sustained breakthrough above $2,040-$2,042 USD, signaling potential upward movement towards $2,064 USD and $2,077 USD. Conversely, a breach below the defending $2,022 USD level could trigger bearish momentum, targeting...

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GBP/USD has rebounded and climbed above the 1.2750 level after dipping to 1.2700 earlier in the day. The US Dollar struggled to find demand in the US trading session as the latest data showed a slight slowdown in the year-on-year PPI in December. GBP/USD remains above the lower limit of the ascending regression channel, with the Relative Strength Index (RSI)...

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Reaching the $48,000.00 mark earlier this week, some speculators may view this value as an upcoming attraction point for Bitcoin. However, traders in the BTC/USD market must maintain a realistic perspective, acknowledging the potential for Bitcoin prices to decline, and a one-way upward trend could pose a risky gamble, given the likelihood of lower...

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Examining the recent daily chart, the downward trend channel forming in the XAU/USD gold prices lacks the strength to indicate a reversal of the overall trend. It is evident that a true trend reversal is unlikely unless the price transitions to key support levels at $2,000 and $1,985 per ounce, respectively. Additionally, the possibility of this shift exists if...

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Bitcoin was hovering around an elevated flatline on late Wednesday after the Securities and Exchange Commission gave the go-ahead for the first spot bitcoin exchange-traded funds (ETF) to be traded in the U.S., as expected. According to Coin Metrics, the cryptocurrency pared earlier losses and was most recently trading around $46,671. Meanwhile, the price of...

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Gold is developing below its 20-day simple moving average (SMA), which is providing dynamic resistance around $2,040. Meanwhile, the gently rising 100-day SMA is crossing above the flat 200-day SMA, both situated around $1,960. Finally, technical indicators are mildly decreasing in neutral territory, not enough to confirm another leg down. The near-term picture...

AdmamTrade Updated 

Bitcoin is preparing for a significant "Jubilee Upgrade" at block height 824,544. This upgrade briefly suspends deposit and withdrawal services for certain BRC20 tokens on January 5, 2024. The update aims to address inconsistencies in engravings on BTC denominations within the BRC-20 network. UniSat will monitor functionality, and a scheduled network update from...

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Gold prices grapple to gather any significant upward momentum following the recent retreat from the $2,040 region, exhibiting narrow trading ranges during the Asian trading session on Wednesday. Traders appear somewhat reluctant, preferring to await the latest CPI figures set to be unveiled on Thursday before committing to new directions. XAU/USD trades around...

AdmamTrade Updated 

Despite the U.S. dollar's rebound post stronger-than-expected U.S. employment data, "XAU/USD" maintains an upward trajectory and could sustain it unless it declines below $2,000 or $1,985 per ounce. Consequently, escalating global political tensions and central banks' preventive buying to hedge risks will remain supportive factors for the gold market in the...

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Bitcoin's price continues to oscillate around the weekly supply zone midpoint of $43,860, poised for an early breakout as imminent ETF launches draw closer. The flagship cryptocurrency finds robust support from the 25-day and 50-day Exponential Moving Averages (EMAs) at $43,130 and $41,391, respectively. The upward slope of these EMAs indicates minimal resistance...

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Even amidst regulatory crackdowns on cryptocurrency exchanges over the past year, Bitcoin has exhibited consistent growth throughout much of 2023, currently hovering around $43,610 - an increase of nearly $18,000 in value since September. Reaching its peak at around $68,000 in November 2021, Bitcoin faced a significant setback by November 2022, losing over 75% of...

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The daily XAU/USD chart shows a slight uptick as it finds buyers around the 20-day Simple Moving Average (SMA) for the second consecutive day, indicating a lack of clear directional strength. The convergence of SMA 100 and 200 around $1,950 without a distinct slope suggests a stagnant market. Technical indicators remain neutral, with the RSI moving sideways and...

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Gold slid below a crucial level this Friday in European trading as the dollar surged, capping a week of losses after a late 2023 recovery. Investor profit-taking and uncertainties regarding the Fed's interest rate plans slowed gold's upward momentum. Spot gold fell 0.3% to $2,037.79 per ounce, while gold futures dropped 0.3% to $2,044.25 per ounce at 05:09 ET,...