Currently, the price of gold is recorded at 2614. Based on market analysis and the prevailing macroeconomic factors, there is a possibility that the price of gold will soon touch the level of 2570 in the near future.
One of the primary reasons underpinning this prediction is the potential increase in interest rates by the central bank. Rising interest rates tend...
The Pound Sterling strengthened against various currencies, but experts caution against placing too much emphasis on today’s UK labor data release.
The Pound Sterling experienced modest gains in this week's trading following a favorable UK labor data release. GBP/USD reached a weekly high around 1.2590, GBP/JPY rose by 0.4% to 196.80, while the EUR/GBP rally...
US unemployment claims have increased, but the US dollar remains strong due to expectations of high Fed interest rates.
The US dollar rebounded in New York trading on Friday (5/10/2024) after a slump following the release of yesterday's unemployment claims data. The US Dollar Index (DXY) held steady around 105.30, while the greenback outperformed in most major...
Summary of Opinion: The Bank of Japan's (BoJ) opinions indicate that many key members advocate for a Japanese interest rate hike as inflation may persist longer or even surpass the target.
The release of the Bank of Japan's Summary of Opinion document this morning revealed the possibility of Japan raising interest rates earlier than previously estimated. This...
The British Pound is under pressure as many anticipate the BoE to signal a rate cut in tomorrow's central bank meeting announcement.
The British Pound has been subdued since the beginning of the week, as market participants worry that the Bank of England (BoE) will adopt a dovish approach in its interest rate announcement tomorrow. GBP/USD slipped below the...
Gold prices are currently still consolidating amid minimal catalysts. As a result, gold is further extending its neutral bias.
General Overview
Good day, fellow traders! The safe-haven asset gold continued to trade within a limited range on Tuesday (May 7th) yesterday. Gold prices are currently consolidating while awaiting the next important catalyst....
Sell positions are entered when a valid Daily rejection is formed and confirmed on the H4 timeframe when testing the supply area of 171.33-172.29.
The selling opportunity this time will capitalize on the potential weakening of prices when testing the supply area. For further clarity, please refer to the explanation below.
CHF/JPY Daily
Level: Supply...
Sell positions are entered upon the formation of a valid Daily rejection and H4 confirmation when testing the supply area at 156.06-157.98.
This sell entry opportunity will capitalize on the potential weakening of prices when testing the supply area at 156.06-157.98. For further clarity, please refer to the explanation below.
USD/JPY Daily
Level: Supply...
Japan is suspected of intervening repeatedly, causing USD/JPY to fall to a three-week low at 151.85 last Friday. However, the currency pair has rebounded this week, reaching a three-day high at 154.65 in Asian trading yesterday.
Japanese officials have consistently refused to answer whether their country has undertaken selling actions of the dollar to boost the...
The analysis I do is technically based. News only acts as an obstacle or smoothness for the price movements being analyzed.
Gold will continue its decline if this week closes below its 1977, 1969 and 1953 prices.
The price of 1900 is not for 2024 but for the end of this year
Economic news and the financial condition of the USD have made gold continue to rise recently.
So many views that gold will touch 2100 in the near future.
In my opinion, gold must be corrected first towards 19xx or even 18xx before touching 2100.
