XAUUSD is currently forming a Descending Triangle Price Pattern in 4h timeframe. The price has reached a lower low last week after it has broken a strong demand zone around 1940 . However, the bulls re-appear and push the price back up to the significant supply zone near EMA 200-period in 4h timeframe at 1965 area, which was a great entry point to start accumulate...
From Risk to Reward Ratio Point of View, it is more favorable for the bulls to go for long position after the hammer price action was successfully formed at the support area of the parallel channel. Take profit at two levels: TP1: 1950.2 TP2: 1951.7 SL when the price closes below 1944.9
GBP/USD continues its downswing. The pound is trading at 1.2340, down 0.20% and is at a one-month low against the US dollar. The UK releases retail sales for April on Friday. On an annualized basis, the headline and core readings are expected to decline by 2.8% in April, which would indicate that UK consumers continue to hold tight onto the purse strings....
The Swiss franc has fallen considerably on Thursday. In the North American session, USD/CHF is trading at 0.8950, up 0.59% on the day. Swiss National Bank President Jordan reiterated a hawkish message on Wednesday that he sent out a week ago. Jordan said that he could not rule out further rate hikes, noting that current monetary policy was not restrictive enough....
USD/JPY is trading quietly at 133.84, up 0.13% on the day. The yen's lack of movement could change today with a host of key releases. Japan will release Tokyo Core CPI, while the US publishes Preliminary GDP for the first quarter and unemployment claims. Japan releases Tokyo Core CPI for April early on Friday, which is expected to remain steady at 3.2%. Will BoJ...
we have three touches of a trendline so we have confirmed trendline i have posted how you can catch the low if you miss may be this is another opportunity let price do its thing let me know what you think
– Previous Daily candle closed Bullish at 1970.100 forming new Daily Support at 1940.600. – Buys on close above 1974.500 targeting 4h Resistance at 1981.500, Leaving Runners to the Daily Resistance formed at 1988.500. – Sells on close below 1961.000 targeting 1h previous Resistance formed at 1953.500, Leaving Runners to the 1h Support at 1946.200. – We have High...
The euro is down for a third straight day and fell earlier to 1.0629, its lowest level since Jan. 23. In the European session, EUR/USD is trading at 1.0639, down 0.30%. The US dollar is showing some strength this week against the majors, as US data continues to shine. Retail sales impressed with a 3% gain earlier this week, and PPI and unemployment claims were...
We're seeing limited movement in the currency markets this week, which is not uncommon during the week between Christmas and New Year's. Trading volume remains thin and the data calendar is very light. In the North American session, EUR/USD is trading at 1.0649, up 0.35%. The US released unemployment claims today, one of the highlights in a quiet week. Initial...
The Australian dollar is in negative territory today. In the North American session, AUD/USD is trading at 0.6739. down 0.43%. US unemployment claims fell to a 3-month low, another indication that the US job market remains robust. Initial unemployment claims fell to 222 thousand, down from 228 thousand and well below the estimate of 240 thousand. This is the...
GBP/USD is drifting today, with a very light economic calendar. There are no UK releases and the only important release out of the US was unemployment claims, which rose from 202 thousand to 229 thousand (210 exp.). Investors didn't pay much attention to the release, ahead of the US inflation report on Friday. Headline CPI is expected to remain unchanged at 8.3%,...
The Japanese yen has moved higher on Thursday, as tensions are once again rising over the Ukraine crisis. Invasions fears have ratcheted upwards after NATO warned that Russia could use a border skirmish as a pretext for a full-scale invasion of Ukraine. The US has rejected Moscow's claim that it is reducing its military presence on the border and Russia expelled...