The NZD/USD pair has shown signs of preparing for a mid-week rally, nearing the 0.6116 level. This recent surge marks the highest point for the Kiwi in two months, following the Reserve Bank of New Zealand’s decision to maintain its monetary policy structure unchanged during the May meeting. With the interest rate remaining steady at
Technical Analysis
The recent helicopter crash that claimed the life of Iranian President Ebrahim Raisi has had a significant impact on the gold market. The crash, which also took the lives of several other high-ranking officials, including Foreign Minister Hossein Amir-Abdollahian, occurred in a mountainous area near the border with Azerbaijan. As news of the tragic incident
Oil prices have experienced a downward trend due to the cautious stance of Federal Reserve officials despite recent softening of inflation. This cautious approach has sparked concerns regarding the potential prolongation of elevated US interest rates. The prices of Brent crude and WTI futures have both seen a decline, with Brent crude trading at $83.11
AUDCAD is continuing to climb higher above the 0.9100 mark, showcasing positive momentum in both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). This upward trend has been in place since February 8, culminating in a 14-month high of 0.9125. Despite facing some resistance in the 0.9100 area over the past few
Gold prices have surged to new heights, reaching a peak of 2,450 and holding above the previous high of 2,431.48. This upward movement is accompanied by positive signals from technical indicators, indicating the possibility of further gains in the market. The MACD is showing strong positive momentum above its trigger and zero lines, while the
The Euro has shown signs of improvement against the US Dollar as it started a decent increase from the 1.0620 support level. Breaking through key resistance levels at 1.0750 and 1.0800, the pair has entered a positive zone. On the 4-hour chart, EUR/USD has managed to settle above both the 200 simple moving average and
Upon careful analysis, it is evident that Silver (XAGUSD) has been demonstrating an impulsive rally from the 10.3.2023 low. Considering the recent movement, wave (1) concluded at 25.91 followed by a correction in wave (2) ending at 21.94. The subsequent upward movement in wave (3) reached 29.79. A retracement in wave (4) found support at
Silver recently surged above $29.8, marking a high not seen since January 2021. Despite this positive movement, the price faced resistance at this level, leading to a pullback to $29.40. It is crucial to note that silver does not appear to be overheated, as it has just entered overbought territory on the RSI for daily
The recent release of CPI figures has indicated a slowdown in inflation, prompting speculation about a potential rate cut in the near future. This development has had a notable impact on the value of the dollar, which has weakened as a result. Consequently, the value of assets priced in dollars, including BTC/USD, has seen a
In this analysis, we will take a closer look at how GBPCAD has been advancing in a bullish sequence since late 2023. This currency pair has been following a diagonal pattern, with wave (4) of ((1)) completing on April 22, 2024. Following wave (4), wave (5) of ((1)) quickly rallied and completed its first leg,
The volatility in the crude oil market has been quite evident over the past few weeks, with prices moving in a range between $77 per barrel for WTI and $82 per barrel for Brent. Despite some support at these levels, there are concerns regarding a potential further decline in prices. The bears have shown their
The Elliott Wave charts of Ethereum (ETHUSD) have been a focal point for many traders and investors. It is important to carefully scrutinize these charts in order to make informed decisions when it comes to trading Ethereum. As per the analysis of the ETHUSD Elliott Wave charts, it has been observed that Ethereum is showing