The surge in gold prices to $2500/oz has been fueled by a combination of factors, including a stronger US Dollar, rising US Yields, and potential profit-taking ahead of Fed Chair Powell’s address at the Jackson Hole Symposium. Investors are closely monitoring Powell’s speech for any indications of future rate cuts in September. While many market
Technical Analysis
The Japan’s 225 stock index (cash) has recently shown signs of a positive upward movement, reclaiming some of the losses it experienced in August. With a soft positive momentum in trading on Thursday, the index reached a three-week high of 38,421. This indicates that there might be more bullish potential in the near future. Despite
The recent increase in the EUR/USD pair above the 1.1000 resistance level has caught the attention of many traders. The Euro showed significant strength after breaking through the 1.0950 resistance against the US Dollar. This upward momentum has led to a connecting bullish trend line forming with support near 1.1090 on the hourly chart of
The recent slowdown in U.S. inflation and a cooling labor market have led to increased speculation that the Federal Reserve may soon lower interest rates. This has resulted in a bearish sentiment towards the dollar, causing key currency pairs to approach critical levels. For GBP/USD, technical analysis suggests the possibility of a retest of the
BTCUSD, also known as Bitcoin, has faced a period of sideways trading in recent sessions. This lack of direction has been accompanied by deteriorating sentiment among traders, partly due to multiple rejections at the 50-day SMA. Additionally, momentum indicators are currently skewed to the downside, further adding to the bearish outlook for BTCUSD. Despite the
The price of gold has been steadily climbing, with it currently hovering around $2500 per troy ounce. This surge can be attributed to the rising demand for safe-haven assets in the face of ongoing geopolitical tensions. The unresolved conflict in the Middle East, particularly between Israel and Gaza, has led to uncertainty and instability in
As per the analysis provided, the bearish scenario suggests selling positions below 2470 with multiple target profit points in the intraday trading, along with a specified stop loss. On the other hand, the bullish scenario recommends buying positions after a pullback above 2460 with different target profit levels and a stop loss below a certain
The recent struggle for crude oil prices to clear the $80.00 resistance zone has been evident in the market. Despite the recovery above the $78.00 and $78.80 levels, prices faced a downward pressure after spiking above $80.00. Analyzing the 4-hour chart of XTI/USD, it is evident that the price initiated a fresh decline from the
The current market trend seems to be shifting its attention towards growth-related macro data rather than inflation risks. This shift in focus can have significant implications for the Nasdaq 100 and other benchmark US stock indices. The fear of a recession or hard-landing scenario seems to be looming over the market, especially with concerns about
Gold prices experienced a rebound after a post-CPI selloff, with the US Dollar Index playing a significant role in the recovery. The article delves into the factors influencing the movement of gold prices and the potential challenges faced by the US Dollar Index in the near future. The article highlights the unexpected selloff in gold
The AUD/USD pair is currently consolidating gains near the 0.6620 zone after starting a downside correction from 0.6640 against the US Dollar. The pair managed to clear the 0.6580 resistance and move into a positive zone, closing above the 0.6600 resistance and the 50-hour simple moving average. However, the pair is now correcting gains and
The gold price has seen a significant increase, with the price per ounce rising by approximately 3.3% in just over three full trading sessions. Today, the gold price is near $2,460, despite opening at around $2,385 on the 8th of August. This surge has brought the price to within 1.6% of the psychological level of