The gold market has shown signs of growth recently, with the price of a troy ounce reaching 2517 USD. This increase in price comes ahead of the release of the US employment report for August, which could have a significant impact on the market. With the Federal Reserve closely monitoring the employment data, there is
Technical Analysis
The EUR/USD pair has maintained stability around 1.1077 as of Thursday morning, showing a slight increase in value during the previous session. However, it is still trading within a sideways channel. The investors seem to be holding back and conserving their energy in anticipation of crucial employment data from the United States. The ADP private
The USD/JPY pair has experienced a minor increase, reaching 145.95 on Wednesday morning. This upward movement seems to signify a rebound from recent two-week lows, but it may be premature to anticipate a significant shift in the trend considering the uncertain economic conditions. As market participants remain cautious, all eyes are on the upcoming US
Gold has experienced a remarkable winning streak, with a 21% increase in value over the course of seven consecutive months. This surge has left many investors wondering whether this momentum will carry over into September. The future of gold prices hinges on a variety of factors, including upcoming U.S. economic data and interest rate expectations.
Upon analyzing the long-term BTC/USD chart, it is evident that Bitcoin’s price is facing a crucial juncture. The chart reveals two distinct channels that Bitcoin has been oscillating within. These channels include a bullish channel that originated in 2023 amidst Bitcoin ETF approval rumors and a bearish channel that emerged in March 2024 after the
Gold has been attempting to break through the glass ceiling at $2525 an ounce on the spot market for the past two weeks. The consistent battle between pullbacks and rallies near this resistance level indicates strong buying pressure. If this trend continues, we can anticipate a breakout to historical highs in the near future. A
Gold has maintained a firm tone and is currently near its all-time high, as it eagerly awaits the release of US PCE data. This data, due later today, is expected to provide fresh signals for the precious metal. The strong demand for gold, as a safe haven asset and due to large purchases by central
The euro has recently seen a decline from its previous highs, facing strong resistance at the 1.12000 level. After two unsuccessful attempts to break through this resistance, the price has corrected to 1.1100 and seems to be range-bound between 1.1200-1.1090. A potential downward correction could occur if the price breaks and holds below 1.1090, leading
In recent trading sessions, the NZD/USD pair has experienced a significant rally, breaking through key resistance levels at 0.6050 and 0.6120. This bullish momentum has been supported by a major trend line forming with a key level of support at 0.6120, as indicated on the 4-hour chart. The pair has also managed to surpass important
GBPUSD has recently broken 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 clearly identifies the right side and direction of the pair, which is higher. The rally from the 4.22.2024 low is currently ongoing, forming a 5 waves impulse Elliott Wave structure.
Recent statements from both the Bank of Japan (BOJ) and the US Federal Reserve have played a significant role in the recent strengthening of the Japanese yen. Governor Kazuo Ueda of the BOJ hinted at a potential adjustment of monetary policy in line with economic trends, raising speculation of a future interest rate hike. This
Gold prices surged to $2500/oz as investors brace themselves for Fed Chair Powell’s speech at the Jackson Hole Symposium. The market saw a rebound in the European session, driven by a combination of factors including a stronger US Dollar, rising US Yields, and potential profit-taking. With the upcoming speech from Powell, many are speculating on