The AUD/USD pair has been on an upward trend for two consecutive days, reaching a one-week high near 0.6453. This positive movement follows a period of rapid decline and is supported by encouraging economic data from Australia. The latest manufacturing PMI report for April showed a significant increase to 49.9 points, up from 47.3 the
Technical Analysis
Gold prices recently experienced a downside correction from its recent high of $2,430. The price traded below a key bullish trend line with support at $2,375 on the 4-hour chart. This correction led to a breach of the 23.6% Fib retracement level of the previous upward move from $2,147 to $2,431. Additionally, the price is
EURJPY is currently showing signs of upward movement, with the bulls gearing up to challenge the recent 165.34 high. Despite attempts by the bears to push the pair lower, the ascending trendline from December 7, 2023, has remained intact. The threat of intervention from Japanese officials, along with the upcoming BoJ meeting and dovish remarks
With gold prices surpassing $2400.00 USD and reaching a new all-time high, it is evident that market demand for “safe-haven” assets is on the rise. The current economic and geopolitical landscapes are rife with uncertainty, leading investors to seek out stable and secure investment options. The escalating tensions in the Middle East have only exacerbated
Upon examining the short term Elliott Wave view in EURJPY, it is evident that the rally to 165.35 marked the end of wave 3. The subsequent wave 4 pullback unfolded as a double three Elliott Wave structure. The detailed breakdown of the waves, such as wave ((w)), wave ((x)), wave (w), wave (x), and wave
The short-term Elliott Wave view in Nikkei Futures (NKD) indicates that the rally to 40960 marked the end of wave 3. Currently, the market is experiencing a pullback in wave 4, which is unfolding as a double three Elliott Wave structure. The downward movement from wave 3 saw wave (a) ending at 40025 and wave
The XAU/USD gold chart today is showing that the historical record price of gold has surpassed USD 2,400 per ounce. This increase in price can be attributed to a variety of factors, including fears of a new round of inflation due to rising commodity prices and ongoing geopolitical tensions around the world. Active military conflicts
The EUR/USD pair saw a significant drop below the crucial 1.0780 support level, indicating a shift in market sentiment. Notably, the pair breached a key bullish trend line with support at 1.0850 on the 4-hour chart, signaling a bearish trend. The escalation of geopolitical tensions, particularly Iran’s launch of more than 300 drones and missiles
The USD/JPY pair has shown significant strength in the market, starting another increase and clearing the 152.50 resistance level. This movement indicates a bullish trend for the US Dollar against the Japanese Yen. Looking at the 4-hour chart, a key bullish trend line is forming with support at 152.70, indicating a strong upward momentum. The
Today, the USD/JPY rate stands at around 153.20 yen per US dollar, marking a significant shift fueled by the dollar’s strength following reports on US inflation. This has led to the yen weakening to levels not seen since the mid-1990s. A crucial development in the market was the bullish breakout past the 152 yen per
AUDCAD has been on a rally mode since April 2, finding support at the uptrend line drawn from the low of September 27. This rally has been confirmed by the pair breaking above the 0.8930 resistance level, now acting as support. The next key level to watch is at 0.9055. Both the MACD and RSI
The EUR/USD pair is currently maintaining a neutral stance, hovering around 1.0851, as the market eagerly awaits crucial updates. These updates include the US inflation data for March and the outcome of the European Central Bank (ECB) meeting set to take place on Thursday. Investors are approaching these impending events with caution, as they could