Magnus_Vale

Magnus_Vale

The British Pound (GBP) climbed to nearly 1.3160 against the US Dollar during Monday’s London trading session. GBP/USD rose as investors anticipate that the Bank of England’s policy easing cycle will be less aggressive compared to the Federal Reserve. The Fed is almost certain to begin cutting interest rates on Wednesday. However, traders remain divided on...

Magnus_Vale Updated 

Hello everyone, as we kick off the new week, gold is back on the bullish track, surging over 50 pips and currently trading at $2,584. Gold is steadily approaching the psychological barrier of $2,600 and is set to continue its path toward new record highs. From a technical standpoint, using the Fibonacci tool to measure gold’s upward wave, I’ve observed that it...

Magnus_Vale

Hello dear friends, what’s your call—should we buy or sell EURUSD? At the moment, EURUSD has shaken off its downward channel with a gentle recovery, reclaiming the 1.111 mark early in Monday’s trading session. It’s now establishing a small support near the channel after breaking through the parallel lines. From a technical perspective, we might consider a buy if...

Magnus_Vale Updated 

The EUR/USD extended its Thursday gains and remained in positive territory, trading near 1.1100 during Friday's U.S. session. Despite upbeat consumer sentiment data for September, the U.S. dollar struggled to maintain its strength, allowing the pair to push higher.

Magnus_Vale Updated 

Gold prices continued their strong rally at the close of this Friday’s session before experiencing a slight pullback, eventually settling at $2,578. The weakening U.S. dollar, along with falling bond yields, provided consistent support for gold during the final trading session of the week, driving the precious metal to new record highs. The dollar hit its lowest...

Magnus_Vale

USD/JPY extended its decline, falling below the 141.00 level during the Asian session on Friday. The continued downward movement was driven by the divergent monetary policy outlooks between the Fed and the BoJ, boosting the Japanese Yen and maintaining bearish pressure on the USD/JPY pair.

Magnus_Vale

GBP/USD maintained its positive momentum for the second consecutive day, trading near the 1.3150 level during the European session on Friday. Despite cautious risk sentiment, the pair benefited from growing expectations of more aggressive rate cuts by the Fed, which continues to pressure the US dollar.

Magnus_Vale Updated 

Global gold prices surged significantly, with spot gold rising by $47.5 to reach $2,568.3 per ounce. The precious metal gained more than 1%, hitting a record high on Thursday, driven by growing expectations that the U.S. Federal Reserve (Fed) will aggressively cut interest rates following data released the same day indicating signs of a slowdown in the world’s...

Magnus_Vale

Currently, EURUSD appears poised to break out from its previous downtrend channel. The price is testing a significant support and resistance area between 1.10586 and 1.10743. Given the breakout from the downtrend channel and the 34 EMA crossing above the 89 EMA, we can anticipate a continuation of the upward trend. Key factors supporting the bullish trend...

Magnus_Vale Updated 

The EUR/USD pair extended its weekly decline to 1.1001 on Wednesday, making only a modest recovery before the close. Heading into the Asian trading session, the pair hovers around 1.1020, with a bearish outlook as yesterday's CPI data failed to provide any upward momentum. From a technical analysis perspective, the strategy remains to continue selling as long as...

Magnus_Vale Updated 

Hello everyone, let's dive into the strategy outlook for GBPUSD today! Currently, GBPUSD is hovering around the 0.618 Fibonacci retracement level at 1.3045. While the pair is in a short-term downtrend, the long-term outlook points towards an upward movement. Technical indicators suggest it is completing Wave 2 of Dow Theory and gearing up for Wave 3, along with...

Magnus_Vale Updated 

The USD/JPY pair failed to capitalize on its modest gains during the Asian session, briefly reaching the 143.00 level before losing momentum. It appears that the pair has stalled its recovery from the nearly nine-month low touched the previous day. Currently, the spot price is hovering around the mid-to-lower end of the 143.00 range and seems vulnerable to...

Magnus_Vale Updated 

Gold prices held above the critical psychological level of $2,500 on Thursday. Core inflation in the U.S. showed signs of stabilization, dampening hopes for a more aggressive easing policy by the Federal Reserve. This development pushed the USD closer to its monthly highs, limiting XAU/USD’s upward momentum. From a technical perspective, the short-term outlook...

Magnus_Vale

EUR/USD is maintaining its upward momentum around 1.1050 during Wednesday's session. The pair has found support from the weakening U.S. dollar, driven by movements in USD/JPY. However, further gains may be capped by the dovish expectations surrounding the ECB. All eyes are now on the U.S. CPI data, so close monitoring is crucial to decide the right buying or...

Magnus_Vale Updated 

Gold prices remained firm above $2,500 per ounce on Tuesday, as market participants exercised caution ahead of the release of U.S. inflation data. This report is expected to provide critical insights into the Federal Reserve's upcoming rate cut decision next week. Currently, gold is maintaining an upward trajectory, hovering around $2,520. The spotlight today is...

Magnus_Vale Updated 

EUR/USD is holding onto modest gains around 1.1050 during Tuesday's European session. Reduced bets on a 50 bps Fed rate cut are boosting the US dollar amidst cautious sentiment, while the Euro struggles due to dovish ECB expectations. Recent reports indicate growing division among ECB policymakers on growth outlook, which could impact future rate cut discussions....

Magnus_Vale Updated 

Global gold prices may experience a temporary dip but are expected to remain stable around $2,500 per ounce, indicating that the bullish trend could persist. Gold is currently trading in a narrow range, close to its all-time high, without any major signs of a significant downturn. The current market conditions do not support a pessimistic outlook for gold prices....

Magnus_Vale

GBP/USD extends its decline below the 1.3100 level during Monday’s European session. The pair is weighed down by renewed demand for the US Dollar, as traders remain cautious about a potential US recession ahead of crucial inflation data later this week. From a technical standpoint: The pair has now broken out of its ascending channel and is trading below both EMA...