Gold prices have shown significant volatility over the past week, with a 4.4% drop followed by a 2.5% rise. This rollercoaster ride has left many investors puzzled about the future direction of the precious metal. One positive sign for gold is the quick buyer support it found after touching its 50-day moving average. This level
Technical Analysis
The recent release of the Bank of Japan’s summary of opinions has been accompanied by some bearish comments from policymakers at the BoJ. However, Deputy Governor Shinichi Uchida has made efforts to soften some of Governor Ueda’s more aggressive remarks, ultimately aiding in market stabilization. The BoJ acknowledges that the probability of reaching the inflation
The recent comments from the Bank of Japan’s deputy governor caused USDJPY to increase by more than 2%. The statement mentioned that the central bank would refrain from raising interest rates during periods of market instability. This led to a surge in buyers in the Japanese markets and contributed to USDJPY extending its 4% rebound
The JP 225 index has experienced a significant drop, reaching a 10-month low of 30,361. This decline can be attributed to recession fears in the US and the strengthening of the yen. The index’s movement below its 200-day simple moving average indicates a sharp correction, reminiscent of early pandemic levels. The index closed around 33,336,
The short term Elliott Wave view in Oil (CL) suggests that the cycle from the high of 4.12.2024 is currently in progress, following a 5 waves impulse Elliott Wave structure. The downward movement from the high saw wave (1) ending at 72.48, followed by the rally in wave (2) ending at 84.55. Subsequently, the commodity
The gold price has recently shown a steady increase, surpassing the $2,440 resistance level. It began its upward trend from the $2,420 zone and formed a key bullish trend line with support near $2,440. The price found significant support near the $2,320 zone and continued its bullish momentum above $2,400. The bulls successfully pushed the
The cryptocurrency market experienced a 0.75% loss in a 24-hour period, bringing its total market value down to $2.29 trillion. This decline follows a day of mixed performance, with cryptocurrencies slipping while equities showed positivity on Wednesday. However, Thursday saw a wave of synchronized selling across the board. This bearish sentiment is reflected in the
The price of gold (XAUUSD) has been steadily climbing, reaching a new peak at 2460 USD per troy ounce on Friday. This surge in gold prices can be attributed to a combination of factors, with one of the main drivers being the growing expectations of a potential interest rate cut by the US Federal Reserve.
The British pound sterling is facing a steady decline against the US dollar with the GBP/USD pair trending towards 1.2848. The pressure from the USD rate is evident while investors eagerly await the outcome of today’s Bank of England meeting. Speculation is rife that the BoE will lower the interest rate from 5.25% to 5.00%
Gold prices have been struggling recently, but there seems to be a glimmer of hope as they attempt a fresh increase from the $2,350 support zone. The 4-hour chart of XAU/USD shows that gold found support near the $2,352 level against the US Dollar. The price has formed a base and has started a recovery
Looking at the Short Term Elliott Wave View in E-Mini Dow Jones Futures (YM), the analysis suggests that the trend is set to continue higher within the sequence initiated from the April 2024 low as part of the daily sequence. This viewpoint favors the upside potential in wave 5 of (5) since the 18th of
The Bank of Japan (BoJ) is on the brink of announcing a significant decision regarding interest rates. With the global economy already grappling with inflation and other economic challenges, the BoJ’s move could have a profound impact on financial markets worldwide. Along with a potential rate hike, the BoJ is also set to unveil a