XAU/USD Outlook: Gold Extends Advance To New Highest Level Since 2009
Spot gold posted new seven-year high on Friday, in extension of strong six-day advance from $1561 higher base. Persisting fears about coronavirus spreading beyond China and negative impact on global economy, maintain strong safe-haven demand and keep gold price well-supported....
CHI 50 Index Faces Strong Resistance At 50- And 100-Day SMAs
CHI 50 index is capped by the 50- and 100-day simple moving averages (SMAs) and the Ichimoku cloud after the upside recovery from the 12,528 support level. The short-term upside tendency is confirmed by the technical indicators. The MACD is...
USD/JPY Rallies Above 112, Weekly Chart Signaling Crucial Bullish Break
Key Highlights USD/JPY rallied recently above the 111.00 and 112.00 resistance levels. A crucial bearish trend line was breached at 110.05 on the weekly chart. The US Initial Jobless Claims for the week ending Feb 15, 2020 increased from 206K...
USD/JPY Outlook: Yen Falls to 10-mth Low on Fading Virus Impact Fears
The pair surged to new ten-month high at 112.22 on Thursday, in extension of previous day’s 1.36% rally. Strong bullish acceleration in past two days was sparked by fading fears about coronavirus epidemic as well as rising dollar, boosted by...
EUR/USD Maintains Consolidation
On Wednesday, the EUR/USD currency pair consolidated near the weekly S1 at 1.0788. During today’s morning, the pair maintained its consolidation. Note that the exchange rate remains under pressure of the 55– and 100-hour SMAs, currently located in the 1.0810...
Elliott Wave View: NASDAQ (NQ_F) Continues Marching To All-Time High
Short term Elliott wave view in NASDAQ (NQ_F) suggests the Index ended the cycle up from February 1, 2020 low in wave 1 at 9687.50 high. The index then corrected that cycle up in wave 2 as a zig-zag. Wave...
Palladium Futures Unlock Another Record High at 2,752; 17% Up This Month
Palladium futures for March delivery seem unwilling to stop the extraordinary rally in uncharted territory, with the price flying as high as 2,752 on Wednesday after a short consolidation period within the 2,424-2,148 zone. The higher highs and higher lows...
XAU/USD Exceeded 1,560.00
Yesterday, the XAU/USD exchange rate raised to the 1,600.00 level. During Wednesday morning, the rate surpassed the given level. From the one hand, it is likely that yellow metal could continue to appreciate against the US Dollar in the short...
Gold Price Rallies To New 2020 High, Primed For More Gains
Key Highlights Gold price started a strong rise from the $1,565 support area against the US Dollar. A key bullish trend line is forming with support near $1,578 on the 4-hours chart of XAU/USD. The NY Empire State Manufacturing Index...
XAU/USD Outlook: Gold Advances to Two-Week High on Fresh Risk Aversion
Spot gold advanced to the highest level in two weeks in early US session trading on Tuesday, driven by fresh safe-haven demand on renewed weakness in the stock markets and rising concerns about coronavirus epidemic negative impact on global growth....
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