Andrew-Trading

Andrew-Trading Updated 

The GBP/USD failed to maintain its support level and has been pulled down by the stronger US dollar. It is now retesting the convergence support level at 1.264, which coincides with the 100-day moving average and the lower edge of the Ichimoku cloud on the daily chart. Breaking below 1.264 could lead to a further test of the 1.239 level. The UK's GDP for the...

Andrew-Trading Updated 

World gold price stood at $1,927, slightly down $4 compared to the same hour last morning. Precious metals have not been able to rebound and even continue to fall in today's session due to the surrounding pressure. A surge in the dollar after China released disappointing economic data was one of the reasons for the drop in gold prices.

Andrew-Trading Updated 

World gold price on August 7 tended to increase with spot gold increasing by 2.3 USD compared to last week's closing level to 1,944.6 USD/ounce. Last week, gold posted modest gains as the US July jobs report was weaker than expected, including downward revisions in May and June.

Andrew-Trading Updated 

Gold prices were weaker at the start of Monday's US session. Precious metals are receiving selling interest as the US dollar index is higher and US Treasury yields are rising to start the trading week. December gold last fell $5.60 to $1,970. Asian and European stock markets were mixed in overnight trading. US stock indexes opened slightly higher as the New York...

Andrew-Trading Updated 

Bullish Golden Cross formed between the 20- and 50-day Moving Averages in late July. Since then, however, upside progress has been lacking and this has been undermining the crossover. Clearing lower would increasingly offer a bearish technical bias that would converge with the IGCS signal. The latter is also closely aligned with lows from June. Confirming a...

Andrew-Trading Updated 

U.S. nonfarm payrolls rose by 187,000 last month, according to the Bureau of Labor Statistics, which released the numbers on Friday. The monthly figure was below the market consensus estimates of 205,000. The gold market didn't react much. December gold futures last traded at $1,970 an ounce, roughly unchanged on the day.

Andrew-Trading Updated 

The gold market is trying to hold critical support levels but is struggling even as activity in the U.S. service sector continues to slow, according to the latest data from the Institute for Supply Management (ISM). Thursday, the ISM said its Services Purchasing Managers Index fell to a reading of 52.7% last month, down from June's reading of 53.9%. The data also...

Andrew-Trading Updated 

The gold price appears poised at a crossroads going into the weekend with the US Dollar firming as Treasury yields tick higher. An eventful week for markets may still have more to play out with non-farm payrolls data due out later today. The Fitch downgrade of US sovereign debt credit rating to AA+ from AAA got the ball rolling on Tuesday with a risk-off rout...

Andrew-Trading

Use our real-time 4 Hour British Pound to Japanese Yen live charts to analyze the current and historical GBP vs. JPY exchange rate. Each candlestick in the British Pound to Japanese Yen candlestick chart above represents the open, high, low and close prices within a period. Click the indicators icon to apply technical analysis to our advanced charts including the...

Andrew-Trading Updated 

Gold is currently experiencing a short-term sideways trend with limited reasons to break out. The volatility is low, as indicated by the 14-day ATR, and the precious metal is not being excessively bought or sold according to the CCI indicator. The recent intersection of the 20-day/50-day moving averages suggests a slightly positive outlook, despite the struggle...

Andrew-Trading Updated 

Currently, Gold is in a tactical short-term game, represented by a compressed price in the $1900-2000 range, combined with fragile summer activity and market complacency. shared. Looking at gold's technicals, investors should watch for support at $1970. Below $1,970, we could see $1,930. Below $1,900 we could see $1,850, but not much lower. And if holdings hold...

Andrew-Trading Updated 

In the past 48 hours, gold prices weakened by nearly -1.7% due to an increase in long-term US Treasury yields, particularly the 10 and 30-year bonds. XAU/USD, which is often seen as a safe-haven asset, follows the inverse relationship between the US dollar and Treasury yields. Currently, retail traders seem to be returning to holding gold in their portfolios for...

Andrew-Trading Updated 

Gold prices are falling sharply and nearing daily lows in the midday US trading session on Tuesday. With a lack of significant new fundamental news this week, precious metal traders are focusing on important external markets, which are all trending downward for metals. The US dollar index is significantly higher, crude oil prices are lower, and US Treasury bond...

Andrew-Trading

EUR/USD is currently above its trendline support and slightly above its 50-day simple moving average of around 1.0925. If the bearish side manages to push the price below this level, we could see a decline to 1.0840, followed by a possible retest of 1.0775. On the other hand, if the currency pair bounces back from current levels, the initial resistance levels to...

Andrew-Trading

The GBP/USD pair hovers near a recent low, maintaining a defensive stance around 1.2710, reflecting the market's unease in anticipation of several key US data releases and the upcoming monetary policy announcements from the Bank of England (BoE) on Thursday. Although the Pound Sterling is experiencing selling pressure at its lowest level in days due to market...

Andrew-Trading Updated 

Bitcoin has been trading between 29,900 to 31,160 for the past 18 days, causing concern among investors who are looking for a clear trend explanation. After a 25.5% increase from June 15th to June 23rd, leading to the highest Bitcoin price in 13 months, many expected investors to become more positive and optimistic. However, BTC was unable to sustain above...

Andrew-Trading

The minutes from the recent Bank of Japan meeting shed light on the reasoning behind the decision to modify their approach towards capping the yield on 10-year Japanese Government Bonds. The committee is now willing to let the yield exceed its previous limit of 0.5%, with indications suggesting that the new cap will be set at 1%, contingent upon how quickly...

Andrew-Trading Updated 

Gold market quiet at the start of the week due to the recovery of the USD and lack of economic data. Investors' trading with gold was limited by neutral statements on monetary policy in the Federal Reserve's July meeting. The focus is now on the US Non-Farm Payroll data for July, which will be released on Friday. Strong employment data could put pressure on gold...