


JohnHarry66
Premiumthe US Dollar, with USD/CAD hovering around 1.3750. Fitch Ratings warns of a weaker Canadian consumer outlook amid labor market and trade headwinds. The BoC is expected to cut rates to 2.25% by year-end, but elevated core inflation clouds the outlook.
This is a 1-hour chart of Bitcoin/USDT (BTC/USDT) on Binance. Here’s a technical analysis based on the chart: BTC is trading around 115,445 USDT, up +1.15%. 1. 117,072 USDT – Immediate resistance. 2. 119,308 USDT – Next major resistance. 3. 120,000 USDT – Psychological resistance level. If BTC breaks above 117,072 and sustains, it could push toward...
Another inconclusive day sees AUD/USD alternating gains with losses around the 0.6470 region on Tuesday, always on the back of the continuation of the Greenback’s rebound. In the meantime, trade discussions keep dictating the sentiment alongside speculation around the Fed. Data from the US Commodity Futures Trading Commission (CFTC) to July 29 show speculators...
The USD/CAD 1-hour chart you provided shows a range-bound market with clear support and resistance levels. Here’s a breakdown of the analysis: --- Key Levels: Resistance: Around 1.38346 Support Zones: 1.38032 (Minor support, now resistance) 1.37588 1.37314 (Stronger support) --- Current Price: 1.37818, which is in the middle of the current...
The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 50 and GBP/USD remains within the one-month-old descending regression channel, suggesting that the bearish bias remains intact following Friday's rebound. On the downside, the 20-period Simple Moving Average (SMA) aligns as interim support at 1.3250 ahead of 1.3200 (static level, round...
The US dollar extended its gains and US yields moved unevenly on Tuesday, while EUR/USD wavered and failed to build on Monday’s modest pullback, lingering below the 1.1600 hurdle. Meanwhile, traders remain on the lookout for fresh progress in trade talks, even as uncertainty over who will succeed Fed Chair Powell keeps sentiment on edge.
Gold struggles to prolong its bounce, fluctuating at around $3,370 per troy ounce on Tuesday. XAU/USD's upside remains capped on the back of decent gains in the US Dollar and a modest rebound in US yields across various maturity periods. From a technical perspective, Friday's breakout through the $3,335 horizontal barrier and a subsequent strength beyond the...
The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 50 and GBP/USD remains within the one-month-old descending regression channel, suggesting that the bearish bias remains intact following Friday's rebound. On the downside, the 20-period Simple Moving Average (SMA) aligns as interim support at 1.3250 ahead of 1.3200 (static level, round...
In the meantime, weakness below the 100-period SMA on the 4-hour chart, currently pegged near the $3,340-3,338 area, could attract fresh buyers near the $3,322-3,320 region. This, in turn, should help limit the downside for the Gold price near the $3,300 mark. The latter should act as a pivotal point, which, if broken, might shift the bias in favor of the XAU/USD...
The daily chart for the EUR/USD pair shows the pair met buyers just ahead of a bullish 100 Simple Moving Average (SMA) currently at around 1.1370. A flat 20 SMA, in the meantime, provides resistance at around 1.1640, the level to overcome to turn bullish. Finally, technical indicators corrected oversold conditions, but lost their upward strength just below their...
The Canadian Dollar holds gains as US recovery attempts remain limited. Concerns about the strength of the US economy and rising bets of Fed cuts keep the US Dollar pinned near lows. In Canada, IVEY PMI and employment figures due later this week will give fundamental guidance to the CAD.
The AUD/USD pair is trading around 0.6480 on Monday. Technical analysis on the daily chart suggests a bearish bias, with the 14-day Relative Strength Index (RSI) holding below the 50 level. The pair is also positioned below the nine-day Exponential Moving Average (EMA), signaling weakening short-term momentum. On the downside, the AUD/USD pair could find the...
Meanwhile, the US Dollar (USD) prolongs its recent strong uptrend and advances to the highest level since late May in the wake of the Federal Reserve's (Fed) hawkish stance. In fact, comments from Fed Chair Jerome Powell on Wednesday forced investors to scale back their bets for a rate cut in September. This continues to act as a tailwind for the USD and caps the...
On the downside, 1.3100 (round level, static level) could be seen as the next support before 1.3030 (static level). Looking north, resistance levels could be seen at 1.3200 (static level, round level), 1.3230 (static level) and 1.3275 (20-period Simple Moving Average). The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 20 and GBP/USD...
EUR/USD gathers bullish momentum and trades above 1.1550 on Friday. The US Dollar (USD) remains under strong selling pressure following the disappointing employment and ISM Manufacturing PMI data for July, fuelling the pair's rally heading into the weekend.
The overnight swing high, around the $3,314-3,315 region, could act as an immediate hurdle for the Gold price. A sustained move above the latter could trigger a short-covering rally and lift the XAU/USD pair beyond the $3,325-3,326 horizontal barrier, towards the next relevant hurdle near the $3,360-3,365 region. Some follow-through buying should pave the way for...
Gold is now struggling to extend its rebound further north of the $3,300 mark per troy ounce on Thursday. The precious metal maintain its bullish bias in tandem with declining US yields across the spectrum and some tepid losses in the Greenback. Xauusd buy 3301 Support 3315 Support 3325
EUR/USD managed to reverse a multi-day negative streak, clocking decent gains and revisiting the 1.1460 zone on Thursday. The pair’s recovery came despite the Greenback advanced marginally, extending its rally to new two-month peaks following renewed trade effervescence and investors’ assessment of the latest Fed gathering.