Sphyn-Trader

Sphyn-Trader

During the early hours of Tuesday's Asian session, XAU/USD is attempting to continue its upward momentum, hovering around 1,921. The pair is being supported by a weakening US Dollar (USD), which has experienced a pullback. However, the gains of the precious metal are being limited by the positive performance of US Treasury yields. The US Dollar Index (DXY) is...

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The EUR/USD currency pair experienced a slight recovery after reaching a new low below 1.0700 on Thursday. Although the bearish bias of the pair remains, there is potential for support due to profit-taking and an improved risk sentiment leading up to the weekend. On Thursday, the US Dollar continued to strengthen against its counterparts following positive weekly...

Sphyn-Trader Updated 

The price of gold is showing signs of improvement for the second day in a row, bouncing back from its recent low of around 1,915 points on Wednesday. During the early European session, XAU/USD remains in demand and is currently trading at approximately 1,925-1,926 levels. This represents a gain of over 0.30% for the day.

Sphyn-Trader Updated 

The USD/JPY pair broke its winning streak of three days, trading lower around 147.40 in the early hours of Wednesday's European trading session. The currency pair retreated from its recent highs reached on Tuesday, marking a new high since November 2022. The pair is facing downward pressure following a statement from Japan's top currency diplomat, Masato Kanda,...

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USDJPY needs to create a small amount of liquidity to pick up momentum again! In terms of technical factors, the psychological barrier is providing very good support at 146.159 Thank you for reading! ❤️

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The Head and Shoulders chart pattern appears, predicting an upcoming downtrend. My prediction rate is around 80%. This is an uncertain prediction so everyone needs to be careful when trading Thank you for reading!

Sphyn-Trader Updated 

Greetings, valued readers! At present, the value of gold is exhibiting a downward trajectory for the second consecutive day on Tuesday, despite not showing any significant follow-through and staying within the well-known range that has been maintained over the previous week. GOLD is currently situated slightly below $1,940, undergoing a decrease of less than 0.10%...

Sphyn-Trader Updated 

In the European session on Monday, EUR/USD is trading above 1.0800. The pair is experiencing gains due to the overall weak performance of the US Dollar. Investors are carefully considering the divergence in policies between the Federal Reserve and European Central Bank (ECB) as they anticipate EU Sentix data and a speech by ECB President Lagarde. These events come...

Sphyn-Trader Updated 

Last week, the EUR/JPY pair surpassed the level of 159.47 and reached 159.75 before experiencing a reversal. As of now, the downside movement has been limited above 156.85, resulting in a neutral bias for this week initially. If the price breaks below 156.85, it will shift the bias to the downside towards the 55-day Exponential Moving Average (currently at 156.17)...

Sphyn-Trader Updated 

The price of gold (XAU/USD) continues to rise as buyers push past the previous high reached in early August, while also maintaining control above the support level at $1,936-38. This upward movement is due to concerns about the Federal Reserve's policy change and recent negative economic data. As a result, the US Dollar Index (DXY) has ended its two-day winning...

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GBP/JPY trades with negative bias near weekly low, manages to hold above 184.00 mark The GBP/JPY pair is experiencing a slight downward trend for the second consecutive day on Friday and remains near the lower end of its weekly range during the Asian session. However, spot prices are able to stay above the 184.00 level, which should make aggressive bearish...

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Ahead of the US Nonfarm Payrolls (NFP) and ISM Manufacturing PMI data for August, the gold price (XAU/USD) is steady. These upcoming reports will play a crucial role in setting the tone for the Federal Reserve's interest-rate decision on September 20. During his speech at the Jackson Hole Symposium, Fed Chair Jerome Powell emphasized that future policy decisions...

Sphyn-Trader Updated 

Fed inflation may hinder Gold bulls' approach to 1,972.4 The price of gold remains stable at its highest point in four weeks after a streak of four consecutive wins, while investors anticipate important information on inflation from both the US and Eurozone. It is worth noting that recent negative data from the US has caused worries about the Federal Reserve's...

Sphyn-Trader Updated 

In reality, the Dollar Index (DXY), which tracks the performance of the greenback against a basket of currencies, retreated from its highest level since June 1st on Friday and is seen as a major factor supporting borrowing costs for Gold. The decline in DXY may be due to further declines in US Treasury yields, although the possibility that the Federal Reserve...

Sphyn-Trader Updated 

The price of gold is facing difficulties in maintaining its recent success, with trading hovering around 1,915 per troy ounce during the Asian session on Friday. The precious metal is currently in the process of rebounding from the losses it experienced over the past four weeks, as investors eagerly anticipate a speech by Jerome Powell, Chairman of the US Federal...

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Gold Price stays well beyond the short-term key support of around $1,897 comprising the Fibonacci 38.2% on one-week. Also putting a strong floor under the XAU/USD price is the convergence of the 5-DMA and previous monthly low, around $1,905. It’s worth noting that, Fibonacci 161.8% on one-day and 61.8% on one-week joins Pivot Point one-day S2 to add strength to...

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The GBP/JPY cross posts modest gains but remains below the 184.00 barriers during the early Asian session on Friday. The cross currently trades around 183.85, gaining 0.07% on the day following the release of Japanese inflation data. The Statistics Bureau of Japan reported on Friday that the Tokyo Consumer Price Index (CPI) for August, fell to 2.9% YoY from 3.2%...

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The US Dollar Index (DXY) is experiencing a rebound and is currently trading at 104.10, strengthening the Greenback against the six primary currencies. The rise in the value of the US Dollar (USD) can be attributed to moderate employment data in the United States, which has created a sense of caution among investors as they seek further indicators regarding...