Gold underwent a downward correction after last week's surge, dropping to $1,990 at the beginning of Monday. However, with renewed selling pressure on the US Dollar, XAU/USD reversed its direction and approached the $2,000 mark, erasing most of the intraday losses in the process. XAU/USD traded slightly lower, although the daily chart indicated a swift rebound...
EUR/GBP has continued its upward trend for the second consecutive day, trading near the 0.8720 level in early European trading on Monday. The currency pair received support ahead of significant economic data releases from Germany. However, preliminary Gross Domestic Product (GDP) data for Germany is expected to show a 0.3% decline for the quarter, with a 0.7%...
EUR/USD is trading sideways around 1.0550 on Monday morning in Europe. Traders are cautious ahead of crucial inflation and GDP data from Germany. Political tensions remain a cause for concern. EUR/USD might face strong resistance around 1.0570-1.0580, where the Fibonacci retracement level of 23.6% of the latest downward trend, the 100-day Simple Moving Average...
Bitcoin's price has surged, reaching a 17-month high of over $35,200. This rapid increase of nearly $5,000 in just one day has pushed the total cryptocurrency market value beyond $1.24 trillion. As predictions about a Bitcoin ETF continue to rise, trading volume is nearing the $100 billion mark. Despite the upward trend, warnings about potential risks associated...
Gold (XAU/USD) surpassed the psychological level of $2,000 on Friday, reaching its highest point since May 16 and marking its third consecutive weekly gain. Escalation in the Israel-Hamas conflict continues to drive safe-haven buying activity, acting as a favorable tailwind for the precious metal. With Bullish momentum still in play, Gold has witnessed a...
GBP/USD extends this week's decline from near 1.2300, touching a three-week low in Asian trading on Thursday, pressured by a stronger US dollar. The pair weakens further below the key 1.2100 level and faces selling pressure. The Relative Strength Index (RSI) on the 4-hour chart drops below 50, and the latest 4-hour candles close below the 100-period and 50-period...
In Asian trading on Thursday, EUR/USD remains defensive, hovering around 1.0560, the lowest in a week, as traders await the European Central Bank (ECB) interest rate decision. The currency pair continues its decline for the second consecutive day, extending its retreat from monthly highs. Support was found around the 20-day Simple Moving Average (SMA) at 1.0560....
At the time of writing, the Bitcoin price stands at $34,765, showing strong potential for further gains. It currently resides in the mid-range of the market, measured between the yearly low of $16,542 and the high of the year at $35,184. The leading cryptocurrency has doubled its value since the closing price on December 31, which was $16,542. It has surpassed...
Gold continues its upward trajectory in early Asian trading on Thursday. Despite higher US Treasury bond yields, the precious metal maintains its momentum above $1,980 due to risk aversion. Increasing geopolitical tensions in the Middle East could boost safe-haven assets like XAU/USD. Technical indicators on the daily XAU/USD chart are pointing upwards, although...
XAU/USD bounced back to $1,970 after breaking free from the weekly low of $1,950 in the early Asian trading hours on Wednesday. The precious metal's slight recovery was bolstered by the strengthening of the US Dollar (USD). Meanwhile, the US Dollar Index (DXY), measuring the USD's value against six major currencies, hovered around 106.25. However, further...
GBP/USD continues its upward momentum since Thursday, trading above the 1.2270 level in the Asian session on Tuesday. The pair receives support from the US Dollar (USD) adjustment, coupled with improved risk sentiment. Although GBP/USD started higher after testing the 1.2100 level, the Relative Strength Index (RSI) on the 4-hour chart remains below 50, indicating...
EUR/USD continues its recovery but remains below the 1.0700 level early on Tuesday. The pair benefits from the decline in US Treasury yields and the weakness of the US dollar. Positive changes in risk sentiment support the new upward trend. Keep an eye on EU/US PMI data. The EUR/USD exchange rate accelerated its gains on Monday, surpassing the 1.0640 level. It...
Bitcoin (BTC) price is surging, gaining momentum after breaking through key weekly resistance. This increase has witnessed the leading cryptocurrency breaching crucial resistance barriers to set its sights on a high price target of $35,000. Bitcoin's price is on the verge of testing the $35,000 mark. BTC recorded a 17% increase in 24 hours, reaching a daily high...
Gold prices made a recovery from recent losses, trading above $1,980 during Tuesday's Asian trading session. The precious metal found support as the US Dollar adjusted, possibly due to a decrease in US Treasury bond yields. Gold continues its 'buy on the dip' trend, with the 14-day Relative Strength Index (RSI) signaling overbought conditions at 69.20. Immediate...
Content: In a backdrop of several positive factors, the price of gold has neared the $1,980.00 mark, marking a three-day streak of price increases. It is anticipated that this precious metal will reclaim its 5-month high, estimated at around $1,987.00. The ultimate resistance level for gold stands at $2,000.00. The 20-day and 50-day exponential moving averages...
The impact of the Federal Reserve's decisions on maintaining or reducing interest rates significantly influences the pricing of Gold and Bitcoin. While low-interest rates are generally favorable for Gold as they reduce the opportunity cost of holding the precious metal, Bitcoin's price reactions depend on various factors. If the Fed's monetary policy responds...
The Bitcoin/Gold ratio continues to decline. This ratio, indicating how much gold is needed to buy one Bitcoin, has experienced a significant drop over the past two years. In November 2021, the ratio stood at 35, but by 2023, it had decreased to 15. According to Longtermtrends' calculations, in January 2022, this ratio narrowed from 24 to 9 by the end of the year...
Gold prices hover around $1,950 after retreating from the two-month high of $1,962 in early Asian trading on Thursday. The precious metal's recovery is bolstered by increasing political tensions in the Middle East, driving a safe-haven rush. From a technical standpoint, the daily chart of XAU/USD suggests further upside potential. The pair has surpassed all of its...