The recent release of CPI data had a significant impact on the price of Gold, causing it to drop from its recent peak of $2,000 to around the $1980 mark. As we await the release of Retail sales data from the US, it is crucial to carefully analyze the current state of the XAUUSD market
Technical Analysis
The gold market has been facing a significant decline recently, as it failed to clear the $2,032 resistance level against the US Dollar. The price corrected lower and traded below a short-term rising channel, with support at $2,020. This downward movement has caused the price to consolidate losses near the $1,990 level. There are several
Gold prices have experienced a fresh decline after failing to break above the resistance level of $2,060. This decline has been triggered by a strengthening US Dollar and a bearish trend in the EUR/USD pair. As a result, gold has traded below key support levels, suggesting the possibility of further downsides in the near term.
The Euro has been experiencing a decline against the US Dollar, falling below the 1.0800 level. However, there are signs of a recovery wave as EUR/USD tests the 1.0720 zone. On the 4-hour chart, the pair has managed to climb above the 1.0750 resistance zone. This move is significant as it surpasses the 23.6% Fib
AUDJPY has been experiencing an upward trend, with the Australian dollar strengthening against the Japanese yen. The pair has cleared the 100-day Simple Moving Average (SMA) and continues to trade higher. However, a contracting triangle pattern has emerged, indicating a period of consolidation and declining volatility. Momentum indicators suggest a lack of interest in the
The US 30 index, also known as the Dow Jones Industrial Average, is currently showing a bullish outlook, supported by technical indicators. Despite trading slightly below its all-time high of 38,782, the index remains above a medium-term rising trend line. This indicates the potential for an upward move. However, the key question now is whether
In a bearish scenario, sales are expected to be below 78.99. The first take profit level is set at 77.93, followed by a second take profit level at 77.45. If the price breaks out below 76.56, the third take profit level is at 76.56, and the fourth take profit level is at 75.70. To manage
The Central Bank of Australia announced today that it will maintain the current interest rate of 4.35%, as anticipated by analysts. However, the bank’s management raised concerns about persistently high inflation and hinted that further rate hikes may be necessary. This cautious yet firm stance indicates that any possibility of policy easing in the near
The US dollar has seen a significant increase in strength against the Euro, with the EUR/USD pair falling to 1.0770 by Monday morning. This movement is largely attributed to the recent release of robust employment sector reports in the US for January, which have shifted investor expectations regarding the Federal Reserve’s interest rate decisions. The
The British Pound (GBP) has started a fresh increase against the US Dollar (USD), with the GBP/USD pair rising above the 1.2625 level. This upward movement comes after the pair formed a base above the 1.2665 resistance zone. The bulls managed to push the pair above the 1.2725 level and the 50-hour simple moving average.
Germany and the Eurozone in an Economic Downturn Germany, one of Europe’s economic powerhouses, is currently facing consecutive economic contractions. This comes at a time when the Eurozone as a whole is grappling with diverse economic conditions. The upcoming flash CPI inflation figures are set to take center stage as they shape market expectations regarding
The British Pound experienced a fresh decline as it encountered selling pressure near 1.2775 against the US Dollar. Currently, GBP/USD is holding the support levels at 1.2620 and 1.2600, potentially signaling the start of a fresh increase. The 4-hour chart reveals some positive signs from the 1.2640 support, as the bulls attempt to push the