Metals, gold, silver and copper, shone today in the form of a rally gold After the last US 30-year auction, it added $2 to a $20 gain to reach $2,177 on the day. This figure is about $16 less than last week's record high. Copper and silver Looking to join the gold market. Copper today rose 3.1% to above $4 for the first time in seven months. Chinese smelters...
WTI Crude Oil Technical Analysis Crude oil maintains its bearish trend after weaker US data beat. what next Crude oil continues to decline for now amid weaker US data and a break above the $80 level. On the supply side, nothing has changed as tensions in the Red Sea remain and OPEC+'s extension of voluntary production cuts into the second quarter did not boost...
USD/JPY is falling, with eyes on the next key technical level The pair retreated 0.3% to 146.64 on the day. The pair touched a low of 146.53 in Asia before returning to around 147.00 after delivery to Europe. With the start of the US market now, we are seeing the pair drop again and it is currently at 146.64. As the dollar side of the equation is frozen pending...
Technical analysis of gold Last Friday, gold extended its rally to a new high as the US NFP report, despite a disappointing headline number, again showed some under-the-table weakness. Indeed, the unemployment rate jumped to the highest level in two years, and the household survey showed job losses for the third month in a row. In addition, average hourly...
EURUSD analysis Change bias: EURUSD is falling to weekly lows and near the key MA level on the 4-hour chart EURUSD is nearing the 100 moving average on the 4-hour chart at 1.07908, and in the process it is touching a subset of moving averages including: 200 day moving average 1.08256 100-day moving average 1.08134. Prices are also moving below a swing zone up...
gold analysis XAUUSD / Gold Gold currently still adheres to the latest technical script Gold's uptrend continues as the precious metal rose 0.4% to $2,038 today. After yesterday's slight dip, gold is back at it as it looks to extend its nine-day rally to seven days in today's trading. The uptrend in the last two weeks has been fairly technical. which continues its...
Bitcoin Analysis BTCUSD Bitcoin climbed nearly 7 percent to $54,800. Bitcoin rose $3,800 today The dominant feature of the markets this year is momentum, and nothing has more momentum than Bitcoin right now. Bitcoin rallied dramatically after a 10-day hiatus that stabilized around $52,000. It rose $3,800 or 6.7% to $54,800 today. This is the highest since...
Gold technical analysis XAUUSD / Gold Gold has rallied steadily of late as the market discounted most expected rate cuts and converged on the Federal Reserve's forecast of three rate cuts this year. We are now in balance, so the next few weeks of data will be very important for market direction. Hot economic data may even prompt the market to price in the rest of...
WTI Oil fell as Gaza talks began in Paris. WTI crude fell $1.80 to $76.56 today, largely due to the prospect of a ceasefire in Gaza over the weekend. Israeli officials have arrived in Paris for talks that also include Egypt, Qatar and the United States. In late January, a six-week ceasefire was proposed and the release of 200 to 300 Palestinian prisoners in...
Today, it seems that gold and bonds have become a safe haven for capital A strong bid has appeared in gold and bonds in the past hour, and the reason is not clear. Gold jumped 15 dollars and reached 2039 dollars, which is its highest figure since February 7. This is a sharp turnaround because just a few hours ago, gold was testing the lows of the week. In the...
EURUSD analysis EURUSD breaks the key resistance zone and extends the rally to new highs. What happens next? daily chart, We see that EURUSD crossed the key trend line and the red 21 moving average, extending the rally to the 1.09 range. This is where, as expected, we saw sellers with defined risk higher than position resistance for a dip to the lows. On the...
USD/JPY technical analysis The dollar remains steady, awaiting the minutes of the FOMC meeting It's been another fairly steady session for the major currencies so far The major currencies did not do much and generally underperformed this week. The dollar is flat on the day and is currently trading close to flat levels against the euro, yen, pound and Canadian...
USDCAD is poised to hit new highs as traders react to lower Canadian CPI data. While the US dollar is lower against most other currency pairs, the greenback is higher against the Canadian loonie as traders react to lower CPI. This movement of the dollar against the Canadian loonie is in contrast to the general declining trend of the US dollar today. Canada's...
Technical analysis of gold Gold broke key support after hot US CPI release. What is the next move? Gold sold off on Tuesday following a hot U.S. CPI report as it boosted real yields and led to a sharp rally in the U.S. dollar. The market continues to reduce interest rate cut expectations as economic data continues to surprise and bullish. In the bigger picture,...
Bitcoin broke ETF price gains for the seventh day in a row Bitcoin broke its high on the day the ETF launched and is now trading at $50,000. It has risen for seven days in a row and is up another 4.5% or $2,100 today. Actual selling at the ETF's launch led to a 20% drop, but increased excitement over the halving, which should be in late April, offset the...
Cryptocurrency markets, which previously awaited the approval of a Bitcoin ETF, are now facing selling pressure attributed to factors affecting Bitcoin and the cryptocurrency market as a whole. The continuous withdrawal from the Grayscale Bitcoin fund and the exploitation of Bitcoin miners add to the worries and negative outlook. Although Bitcoin has been the...
analysis EURUSD 17.01.2024 Buyers and sellers continue to fight EURUSD fell to new lows and tested its 200-day moving average at 1.08462. Buyers flocked to that level on the first test, pushing the price up a bit. As mentioned in previous videos this week, the 1.08788 – 1.0894 zone represents a key swing zone that was broken during yesterday's trading and...
gold analysis XAUUSD 17.01.2024 As bond yields rise, gold approaches $2,000 The positive seasons of January this year are not presented Gold fell to a one-month low as the market lost confidence in the impending tapering by the Federal Reserve and other central banks. Today's US retail sales report underscored this point. Gold typically rises in January with a...