XAU/USD Remains Above 1,820.00
On Wednesday, the XAU/USD exchange rate bounced off the Fibo 23.60% at 1,860.59. Given that yellow metal is pressured by the 55– and 100-hour moving averages near 1,853.00, it is likely that some downside potential could prevail in the market....
USD/JPY Might Extend Gains
Yesterday, the USD/JPY currency pair raised to the 104.00 mark. It is likely that the exchange rate could gain support from the 55– and 100-hour moving averages near 103.95 and trade upwards in the nearest future. Note that the nearest...
Gold Price Could Recover To $1,900, GBP/USD Outperforms
Key Highlights Gold price found support near $1,815 after a sharp decline from $1,960. The price could face a strong resistance near $1,900 if it corrects higher. GBP/USD climbed higher and revisited the 1.3700 resistance zone. The US CPI increased...
NZDUSD Maintains Positive Bearing Despite Pullback
NZDUSD appears to have found some footing on the mid-Bollinger band after receding from a recently reached 32½-month peak of 0.7314. The short-term technical indicators are revealing some weakness in positive momentum, while the soaring simple moving averages (SMAs) are...
USD/CAD Breakout Could Occur
The US Dollar declined by 84 points or 0.66% against the Canadian Dollar on Tuesday. The currency pair tested the lower boundary of an ascending channel pattern at 1.2703 on Wednesday morning. Currently, the USD/CAD exchange rate is trading near...
GBP/USD Outlook: Sharp Recovery Signals End of Correction, But Caution Still Required
Cable jumped to 1.36 zone on Tuesday after pullback from new multi-month high at 1.3703 was rejected at 1.3451 on Monday and left hammer candle on daily chart, signaling possible end of corrective phase and reversal. Drop through ascending 20...
EURCHF Ebbs Off Heavy Border; Progressive Picture Unbroken
EURCHF has abated to the mid-Bollinger band around 1.0819 after recent attempts to appreciate, including the false break out of 1.0891, were capped by the upper Bollinger band and the tough resistance ceiling of 1.0857-1.0877. The simple moving averages (SMAs)...
Gold Trades Flat Following Last Week’s Declines
The precious metal is on track to close flat on Monday. Price briefly slipped to test the 1817.80 level before pulling back. Overall, gold prices are currently confined to trade within the 1850 and 1817.80 levels. Only a strong breakout...
US 500 Index Looks Optimistic Despite Minor Retreat
The US 500 index (Cash) has retracted ever so slightly after stalling around the fresh all-time high of 3,831. Although the Ichimoku lines are revealing the ebbing in positive price action, the bullish demeanour of the simple moving averages (SMAs)...
Currency Pair of the Week: XAU/USD (Gold)
Markets don’t like uncertainty. When there is uncertainty, investors by gold. Many of the uncertainties that have been surrounding the markets towards the end of the year have been lifted. Joe Biden won the US Presidential election and will become...
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