Gold prices fell sharply. Gold fell below $2,645 during the session and was down nearly $14 on the day at $2,644.66. This move is mainly driven by a combination of factors, including the strength of the US dollar, market uncertainty about the future policy of the Federal Reserve and the performance of US economic data. It now provides some in-depth analysis and...
GBP/USD is clearly retreating from the 2-1/2 year high of 1.3433 and meeting the 20-day moving average (MA) of 1.3235. In addition, the pair is still hovering above the strong support level of 1.3265, but the technical oscillators reflect the recent downtrend. The stochastic oscillator is moving southward from the overbought area with strong momentum, while the...
USD/JPY started October flat, closing neutral near the 20-day moving average after being rejected near the 50 percent Fibonacci retracement of the 2023-2024 rally at 144.50. Currently, the pair is trying to reach the 144.50 area again, but there may be more resistance to overcome. Another challenge could be a break between the support trend line 145.30 and the...
Bitcoin recently completed a harmonic pattern near 66,500. The initial price reaction was positive and full of upside possibilities. But the subsequent decline adds more weight to the bearish scenario I'm considering. Because from different perspectives, Bitcoin has been undergoing significant ups and downs. When we look at past movements, Bitcoin is currently in...
Information surface analysis: Gold prices (XAU/USD) fell in early European trading on Wednesday, partially giving up the previous day's 1% gain, which was driven by escalating tensions in the Middle East. Fears of a wider conflict intensified after Iran fired a ballistic missile at Israel, increasing demand for safe-haven assets. However, fading expectations of a...