Gold prices over the past few weeks have been rising sharply.
In early November, the price of gold was at its lowest point in over 6 months, languishing at $1,628 per ounce, however the sudden rise in value has culminated in gold prices being at their highest since the summer, arriving at over $1,796 per ounce on today's market.
As it stands, the price of gold...
GBP/USD started a downside correction below 1.2250. USD/CAD is rising and might gain pace above the 1.3700 resistance zone.
Important Takeaways for GBP/USD and USD/CAD
· The British Pound was able to move above the 1.2200 and 1.2250 resistance levels.
· There is a key bullish trend line forming with support near 1.2220 on the hourly chart of GBP/USD.
·...
AUD/USD is moving higher and might climb further higher above 0.6800. NZD/USD is also rising and might surge above the 0.6440 resistance zone.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase above the 0.6720 and 0.6740 levels against the US Dollar.
· There is a key bullish trend line forming with support near 0.6780 on...
ETHUSD: Double Bottom Pattern Above $1218
Ethereum was unable to sustain its bearish momentum and after touching a low of 1211 on 07th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle today in the European trading session.
We can see the formation of a bullish harami pattern in the...
The S&P500 index closed yesterday at its lowest point in four days following a steady decline as investors in American stocks concern themselves with the possibilities of a recession.
The prestigious index which contains some of Wall Street's most heralded blue chip giants lost 1.44% to close at 3,941.26, while the Nasdaq Composite sank 2% to finish at 11,014.89....
EUR/USD gained pace and tested the 1.0600 resistance zone. USD/JPY is rising and might rally if it clears the 137.50 resistance zone.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a downside correction from the 1.0600 resistance zone.
· There is a key bearish trend line forming with resistance near 1.0490 on the hourly chart of EUR/USD.
·...
BTCUSD: Inverted Hammer Pattern Above $16009
Bitcoin was unable to sustain its bearish momentum and after touching a low of 16009 on 28th Nov, the prices started to correct upwards against the US dollar crossing the $17000 handle on 06th Dec.
We have seen a continued escalation in the prices of bitcoin due to the increasing global demands and buying at lower...
After a long period of declining values which blighted the British Pound during the course of the late summer and early autumn period, resulting in it plummeting to a low of 1.18 against the US Dollar at one point, the British sovereign currency managed to pick itself up during November.
The economic chaos that has been clearly visible across Britain reached...
The price of Brent Crude oil is once again on the rise, after a slow and steady decline during early to mid November bottomed out at $76.28 per barrel on November 26.
Since then, the price has been increasing, and today Brent Crude Oil (WTI) is trading at $81.41 per barrel which is a two week high.
This could partly be down to the price cap for oil purchases...
GBP/USD started a fresh increase above the 1.2150 resistance. EUR/GBP failed to stay above the 0.8600 support and declined towards 0.8550.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh increase after it broke the 1.2050 resistance against the US Dollar.
· There was a break above a major bearish trend line with resistance near...
Gold price climbed higher and traded above the $1,780 resistance. Crude oil price is also rising and might climb further higher above $82.50.
Important Takeaways for Gold and Oil
· Gold price found support near the $1,720 level and started a fresh increase against the US Dollar.
· There is a key bullish trend line forming with support near $1,792 on the...
ETHUSD: Piercing Pattern Above $1151
Ethereum was unable to sustain its bearish momentum and after touching a low of 1151 on 23rd Nov, the price started to correct upwards against the US dollar crossing the $1300 handle today in the Asian trading session.
After touching $1300 handle we can see some downward correction in the levels of Ethereum which is expected...
EUR/USD is gaining pace above the 1.0000 resistance. EUR/JPY is also rising and might climb further higher above the 147.00 zone.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a downside correction from the 1.0500 resistance zone.
· There is a key declining channel forming with support near 1.0310 on the hourly chart.
· EUR/JPY started a...
BTCUSD: Bullish Engulfing Pattern Above $15510
Bitcoin was unable to sustain its bearish momentum and after touching a low of 15510 on 21st Nov, the price started to correct upwards against the US dollar crossing the $16500 handle today in the European trading session.
The price of bitcoin continues to rise after the recent crash and now we are looking to cross...
A reduction in inflation is a good thing, is it not?
Surely when a national economy previously blighted by what appeared to be runaway inflation suddenly gets back on track and the inflation figure falls dramatically, this would be the sign of strengthening and therefore have a positive effect on the national sovereign currency?
In the case of the United States...
A new trading week has just started, and the name of the game in the FX market is the JPY weakness. Since the Bank of Japan said in March that it would buy unlimited amounts of JGBs, the JPY pairs have gone through the roof.
Perhaps the most impressive rally is the one observed in the EURJPY cross. After initially dropping to 124 when the Russia-Ukraine war...
BTCUSD: Double Bottom Pattern Above $39,000
Bitcoin was unable to continue its last week’s bullish momentum and started to decline after touching a high of $47,184 on April 5th.
Bitcoin broke the $40,000 support and touched a low of $36,210 in today’s Asian trading session.
The selloff continues across the crypto markets, and the global investor sentiments are...
UR/USD started a fresh decline from the 1.0940 resistance. EUR/JPY could gain pace if it clears the 136.30 resistance zone.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro failed to clear the 1.0940 resistance and started a fresh decline.
· It broke a key contracting triangle with support near 1.0880 on the hourly chart.
· EUR/JPY gained bullish...
