EUR/CHF has been closely correlated with the France CAC and Germany DAX, showing a strong positive relationship. This correlation has been maintained even in the face of economic challenges posed by sluggish consumer demand in China. The 60-period rolling correlation coefficients between EUR/CHF and the two European indices have remained high, indicating a synchronized movement
Technical Analysis
Gold prices have seen a resurgence in recent days, with a troy ounce of the precious metal currently priced at 2517 USD. This increase comes as the market eagerly anticipates the release of August’s US employment report, which could have a significant impact on the Federal Reserve’s interest rate policies. Given the recent signals of
The EUR/USD pair has maintained stability around 1.1077 as investors eagerly await crucial employment data from the United States. The upcoming ADP private sector jobs report, although not directly linked to the Nonfarm Payroll (NFP) report, serves as an indicator of market sentiment. Additionally, the release of weekly unemployment claims data will be closely monitored
The USD/JPY pair has experienced a slight increase, reaching 145.95 on a Wednesday morning. This uptick comes after hitting a two-week low, signaling a potential rebound. However, it is essential to note that this movement may not signify a complete reversal in the trend due to the uncertainty in the current economic landscape. Traders and
Gold has been performing remarkably well in recent months, with a continuous upward trend for seven consecutive months. As of now, the precious metal has seen a significant increase of 21% since the beginning of the year. Despite these impressive gains, the crucial question on the minds of investors is whether this bullish momentum will
The long-term BTC/USD chart analysis conducted on 9 August raised concerns about the direction of Bitcoin’s price. The analysis pointed out two key channels influencing the price movement:→ A bullish channel formed in 2023 amidst Bitcoin ETF approval rumors;→ A bearish channel emerging in March 2024 after the initial spike post the Bitcoin ETF approval.
Gold has been facing a significant challenge at the $2525 per ounce mark on the spot market, struggling to break through this glass ceiling for the past couple of weeks. However, a pattern of smaller pullbacks and more frequent rallies towards this resistance level indicates the existence of impressive buying pressure in the market. This
Gold has continued to display a firm tone, remaining near its all-time high on Friday as it awaits the release of US PCE data later today for potential fresh signals. The metal has been well supported by strong demand, serving as a safe haven asset and witnessing large purchases by central banks. Geopolitical tensions and
The euro has recently faced resistance at the 1.1200 level, resulting in a correction down to 1.1100. This correction has established a range-bound trading pattern between 1.1200 and 1.1090. If the price breaks below 1.1090, we could see a downward correction towards 1.1050-1.0980. Conversely, if the price consolidates above 1.1200, there is potential for the
In recent trading sessions, NZD/USD has surged beyond key resistance levels, hitting highs above 0.6120. This surge has been accompanied by a major bullish trend line forming with support at 0.6120 on the 4-hour chart. At the same time, Gold has entered a consolidation phase and could potentially climb above $2,525. Meanwhile, EUR/USD and GBP/USD
The GBPUSD pair recently broke above the previous peak on 7.14.2023 high at 1.3143, indicating a higher high bullish sequence from the 9.26.2022 low. This breakout confirms the upward trend of the pair, leaving no doubt about its direction. The rally from the 4.22.2024 low is currently unfolding as a 5-wave impulse Elliott Wave structure.
The recent movements in the Japanese yen have been notable, with the USD/JPY pair dropping to 143.99 on Monday, signaling a three-week low. This shift is primarily attributed to the weakening of the US dollar and significant statements from both the Bank of Japan (BOJ) and the US Federal Reserve. Governor Kazuo Ueda’s hawkish comments