Its standard theory is that the gold price will rise as a safe-haven asset in any geopolitical crisis. But yesterday, the world witnessed a different picture I mentioned in my last article, and gold may drop because of Russian reserves and profit-taking zone. And my prediction became true. After rising 630 pips, gold dropped more than 900 pips. There may have...
Gold dropped sharply after testing its nearly multi-year high level of $1974/ounce. However, XAU/USD started positively at the begging of the last week but closed in a negative biased. But technically, as long as gold is above the $1850/1835 price zone, it will remain still bullish. The gold market yet has thousands of reasons to go upside. When the...
Gold's rise is not stopping in any way. Honestly, there is no reason to stop it. Gold has not dropped that way without profit-taking reason from the technical level. The Russia-Ukraine crisis and the economic blockade imposed on Russia by NATO countries have further boosted demand for gold, and inflation has been on the rise for the past two years due to the...
Gold's bullish bias still favors the Russia-Ukraine conflict more brutal day by day: the USA and its allies have given very tough sanctions against Russia. The fundamental and market sentiment favoring gold prices though the technical analysis hints that gold prices have reached correction level. So, if the NFP report prints positive, there is a possibility that...
Gold is on fire and aiming to test its near-term swing high zone of $1970/1975. Gold's near-term support 1930/1932. As long as above $1930, it is possible to test the $1970/1975 price zone. Fundamental, technical, and market sentiment still suggests more upside bias. But we may see some correction at the $1970/1975 price zone. On the other hand, if xau/usd...
Oil is on fire because of sanctions against Russia. Russia is one of the largest oil-producing countries globally, and the European countries mainly depend on Russian oil and gas. The sanction against Russia put the fire on the oil sector. So, it is tough to say where the oil price will stop. But there is something about to say technical analysis and...
Bitcoin is losing its value one more time. Today bitcoin lost its value more than 5% than yesterday, and it has been dropping eight days in a row. I have said many times that cryptos are not safe-haven at all and won't the safe-haven assets in the future for many reasons. However, BTC mainly follows the USD when a crisis exists. The total capitalization of...
Bitcoin is hovering near its strong resistance level of the $45800 price zone. Several times BTC dropped from this resistance level. So, breaking above the $45800 price zone, BTC may increase. I am still bullish in BTC and waiting to break above the resistance zone. Breaking above $45800, I will go for more buy. 1st target is $52000, the next target is $59800,...
The crude oil price broke the history in April 2020 and moved back to $00.barrel less than two years ago though the crude oil price is now $92 / barrel. Due to the Corona effect, crude oil prices have been low for a long time, but crude oil prices have been rising steadily since April 2020 due to rising demand. However, there is no doubt that crude oil has...
Gold breaks above the market gap highest after correction. Though weekly candles closed, a substantial bearish pin bar candle market ignores candlestick patterns. And most possibly, gold will test the sky as long as Russia-Ukraine issues exist. And there is no sign that the war will end very soon. So, it would be wise to keep in buy mode as long as a crisis...
CAD/JPY is hovering nearly to its trendline resistance zone. CAD is a bit strong enough against most of the major currencies. But JPY is considered a safe-haven asset, and we should not forget it. And technically, many times, CAD/JPY dropped from the trendline resistance level. So, I am expecting this also CAD/JPY can drop from the trendline resistance zone to...
Gold's fundamental situation and market sentiment are still positive. So I guess gold still has a chance to test $1970 or go above $2000. Given the growing demand for gold as a safe haven, given how the United States and its allies are imposing economic sanctions on Russia and are likely to do more, hopefully, the demand for gold will not decrease. And just as...
During the Asian season, Putin ordered to attack Ukraine. Ukraine says that Kyiv is under attack from the cruise and ballistic missiles. So, safe-haven JPY will dominate all currencies and especially commodities currencies. AUD/JPY are at risk of dropping more and more. So, let's check out my AUD/JPY chart. AUD/JPY Sell 82.20 Stop-loss above 82.70 Target zone...
This week on Tuesday, EUR/NZD dropped below the long-term trendline support ahead of RBNZ rate decision and monetary policy. RBNZ expects a rise official cash rate from 0.75% to 1.00%. Despite a sharp downside in the global equity space on further escalating military tensions between Ukrainian and pro-Russia separatist/Russia forces and continued Russia/NATO...
GBP is a bit under pressure after BOE delivers a dovish statement. But GBP/USD is still supported because of the USD's weakness. Market commentators said that the sanctions announced by the US against Russia on Tuesday weren't as harsh as feared, facilitating the broad rebound in risk assets and selling pressure on safe-havens. Market commentators also noted...
Hello GBP/USD traders, welcome back again. GBP/USD has closed its candle below the trendline support that has created chances to test one more time 1.3200 price zone. Last week BoE delivered a dovish statement, and Russia-Ukraine issues have created high demands of the safe-haven USD one more time. After breaking below the 1.3490 price zone yesterday, it...
USD/CAD confirms a bullish breakout, with more room to open higher. USD/CAD breaking above 1.2783 has confirmed the bullish flag breakout and has created more room for the upside bias. Stop-loss should be below the 1.2638 price zone with a target zone of 1.2950/1.2958. Breaking above 1.2958 will open the door for our 2nd target nearly at the 1.3050 price zone.
Hello guys, welcome back to another gold weekly forecast. Gold is shining for 14 days as a safe-haven asset. Gold almost up nearly 1200 pips within 14 days. Russia-Ukraine issues set on fire on commodities prices, including gold. So, Any de-escalation of Russia-Ukraine tension may decrease the gold price as gold is rising for this issue. The current gold market...