Gold continues to show an upward trend, with its current value trading around $2,646. The chart reflects the formation of a classic cup pattern, which often signals potential bullish momentum once confirmed by a breakout. This pattern has established a solid foundation for bullish traders to focus their attention on the next resistance level at $2,662.
Global...
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Currently, USD/JPY has retreated from its multi-month highs but remains steady above the 158.00 level during Tuesday’s Asian trading session.
Support for the pair comes from ongoing uncertainty about when the Bank of Japan (BoJ) will raise interest rates again and the broad recovery of the US dollar. The greenback rebounded after Monday’s...
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Currently, GBP/USD remains bid, heading towards the 1.2550 level with no signs of stopping as of Tuesday morning in Europe.
The pair's upward momentum is primarily driven by a generally subdued US dollar. However, further gains may be capped by mixed market sentiment as traders await key US data releases.
Looking ahead, on the 1-day (1D)...
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Today, gold is trading around $2,638, recording a slight increase of $10.
Fundamentally, the market is unresponsive to escalating tensions in the Middle East and Eastern Europe, accepting the current circumstances. China has pledged to boost financial support for its economy, which could attract new capital into the gold market.
The market is...
