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Analyzing enhanced prints from the CME Group for the gold futures market, open interest continues its downward trend, dropping nearly 7,000 contracts on Friday. However, volume has increased for the second consecutive session, this time by approximately 39.8 thousand contracts. Gold appears to find support from the 200-day SMA While gold prices experienced a...

Gwen_Humuna Updated 

Gold maintains its downward trend, trading at a new 4-week low around $1,940 USD despite a weak U.S. dollar. The metal is set to end the week with a notable decrease. The daily XAU/USD chart shows bullish attempts to surpass the 23.6% Fibonacci retracement level at $1,962.20 but forms lower highs and lows below the 20-day Simple Moving Average (SMA). Technical...

Gwen_Humuna Updated 

Bitcoin hits $37,900 for the first time in a year and a half, driven by expectations of U.S. regulatory approval for a Bitcoin spot exchange-traded fund (ETF). Trader sentiment improves as the U.S. Securities and Exchange Commission (SEC) reviews 12 Bitcoin ETF applications. At the time of writing, Bitcoin is trading at $36,683 on Binance. The market-leading...

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EUR/USD is holding slight gains near the 1.0700 mark in European trading on Monday. The US dollar started the new week on a defensive note, despite higher US bond yields. Traders are awaiting GDP data for the Eurozone and US inflation figures later in the week. The Relative Strength Index (RSI) on the 4-hour chart has dipped below 50, while EUR/USD falls below the...

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GBP/USD extends its slide below 1.2200 in early US trading. UK GDP data reveals a year-on-year growth of 0.6% in Q3, surpassing expectations. However, these figures fail to propel the currency pair as investors await next week's key data for clearer direction. What are your thoughts on this currency pair?

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EUR/USD struggles to find direction on Friday, hovering within a narrow range just below 1.0700. US Consumer Sentiment, falling to 60.4 in November from October's 63.8, adds pressure. Wall Street trades in the red after Thursday's decline, impacting USD demand. The Relative Strength Index (RSI) on the 4-hour chart drops below 50 as EUR/USD slips below the midpoint...

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Gold struggles to gain momentum, staying below $1,960 on Friday after a rebound from the three-week low at $1,944. The U.S. 10-year Treasury yield, holding above 4.6%, limits upward potential for XAU/USD. The daily chart shows attempts to surpass the 23.6% Fibonacci retracement level at $1,962.20, with positive developments but forming lower highs and lows below...

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Bitcoin has witnessed a remarkable surge, hovering around $34,000 and reaching its highest value since May 2022, surpassing $35,000. This represents a significant 107% increase since the beginning of the year, fueled by anticipation of Exchange Traded Fund (ETF) approvals and growing demand for safe-haven assets. Last week, Bitcoin transactions exceeded $100,000,...

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From a technical perspective, there seems to be little significant change in Gold prices, and any further upward movement is likely to face strong resistance near the $2,000 mark. The next related barrier is set around the $2,008-$2,010 area, or the multi-month high touched last Friday. Price speculators aiming for an uptrend need to wait for sustained strength to...

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GBP/USD has entered a consolidation phase after testing the resistance at 1.2200. The upward momentum of the British Pound seems to pause, preparing for the Bank of England (BoE) policy announcement on 'Super Thursday.' The Relative Strength Index (RSI) on the 4-hour chart remains near 50, indicating indecision in GBP/USD. The 100-period Simple Moving Average...

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Despite negative data from the Eurozone (weaker growth and confidence, lower inflation), the calm Dollar environment warns that EUR/USD could rise again. The range of 1.0520 to 1.0700 appears to be the new short-term range, and EUR/USD might climb towards 1.0650/1.0675, possibly triggered by the US unemployment claims announcement. The data calendar is light, but...

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Gold experienced a significant uptick on Thursday as US bond yields declined and the US Dollar weakened. This positive momentum was further fueled by political uncertainties and economic challenges in China. However, the potential for substantial price gains in the precious metal is limited by ongoing stock market surges. Traders are following a 'buy on the dip'...

Gwen_Humuna

Bitcoin has experienced a significant surge in both institutional and retail investor activity, stabilizing around $34,000 after reaching its highest value since May 2022, surpassing $35,000. This marks a substantial 107% increase since the beginning of the year, driven by anticipations regarding the launch of exchange-traded funds (ETFs) and rising safe-haven...

Gwen_Humuna

Bitcoin has experienced a significant surge in both institutional and retail investor activity, stabilizing around $34,000 after reaching its highest value since May 2022, surpassing $35,000. This marks a substantial 107% increase since the beginning of the year, driven by anticipations regarding the launch of exchange-traded funds (ETFs) and rising safe-haven...

Gwen_Humuna

Gold prices declined for the third consecutive day, setting a new weekly low on Wednesday. Safe-haven demand diminished, and the looming shadow of the Fed's hawkish stance continued to weigh on the precious metal. China's economic woes might provide support for the safe-haven asset ahead of the Fed's decision. Short-term technical outlook for Gold favors buyers,...

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In the US trading session, GBP/USD rose to its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was supported by a weaker US dollar on Monday, as market participants awaited US employment data, as well as the Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remained below 50, and GBP/USD closed the last 4-hour...

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The EUR/USD pair struggles to capitalize on previous positive moves and trades with slight bearish momentum in the Asian session on Tuesday. However, the spot price attempts to hold above the key level of 1.0600 and remains contingent on the price dynamics of the US Dollar (USD). The tightening stance of the Federal Reserve (Fed) further supports higher US...

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Technical Analysis: Micro Outlook for Bitcoin Since testing the $33,901 support level, Bitcoin seeks to maintain its upward momentum, supported by the price trends surrounding spot BTC ETFs. While the next major ETF news may take some time, Bitcoin faces decisions from the US Federal Reserve regarding interest rates and the release of non-farm payroll data in the...