Gold prices have seen a significant increase, reaching 2368 USD per troy ounce as market expectations adjust to the possibility of future interest rate cuts by the Federal Reserve. Recent data from ADP showing lower-than-expected growth in private-sector jobs in the US for May, coupled with downward revisions in April’s figures, have fueled speculation about
Technical Analysis
The analysis of the 1-hour Elliott Wave Charts of GBPAUD reveals a mixed scenario. While the rally from the 09 May 2024 low unfolded in a corrective manner, it still presented a valuable trading opportunity for investors. The pullback reached the equal legs area and offered a buying opportunity, indicating potential for a minimum reaction
The recently published PMI Manufacturing indices for several countries, including the US, have turned out to be disappointing. The Final Manufacturing PMI for the US came in at 51.3, slightly above the expected value of 50.9 but still lower than the previous value of 50.9. Similarly, the ISM Manufacturing PMI for the US was reported
The recent OPEC+ meeting held over the weekend seems to have had a limited impact on the price of crude oil. Looking at the chart data, WTI oil opened at $76.72 per barrel on Monday, just slightly higher than the Friday closing price of $76.57. This indicates that the decision made by oil producers has
EURCHF recently reached a 14-month high of 0.9928 before experiencing a sharp decline towards the 50-day SMA. This drop was accompanied by momentum indicators turning bearish, signaling a potential shift in the market sentiment. Despite the ongoing recovery since late December in an attempt to erase the significant downtrend from 2021-2023, the pair faced resistance
The recent downside correction in USD/JPY from the 157.70 zone is a cause for concern. While there is a major bullish trend line forming with support at 156.00 on the 4-hour chart, the pair started a downside correction and traded below 157.20. The move below the 23.6% Fib retracement level of the upward move raises
The commodity market is facing challenges in maintaining its upward momentum, frequently experiencing sell-offs. Recent data shows that the price of Brent crude oil dropped to 83.60 USD per barrel, indicating a decline. This fall in prices can be attributed to various factors such as expectations surrounding lending costs and the possibility of high interest
The Euro is currently facing a period of consolidation as a result of a sharp decline on Wednesday, marking its biggest daily loss since April 30. This decline was largely driven by fresh risk aversion in the market, leading to a cautious approach among investors. Despite finding support at the key level of 1.0790/80, which
The recent release of Australian economic data has had a notable impact on the AUD/USD pair, pushing it up to 0.6650. The consumer price index (CPI) in Australia accelerated to 3.6% year-on-year in April, showing a slight increase from the previous month. This rise in inflation has raised questions about the Reserve Bank of Australia’s
The price of gold has been steadily climbing, reaching 2351.00 USD per troy ounce recently. This increase comes after a period of stagnant movement, signaling a resurgence in interest from investors. One of the main reasons for this surge in gold prices is the weakening of the US dollar. Investors are eagerly awaiting the release
The recent rise in the price of WTI crude oil, as indicated by the chart, can be attributed to several key factors. Firstly, the upcoming OPEC+ meeting scheduled for 2 June has created a sense of optimism among investors. Additionally, expectations of high fuel demand due to the start of the summer driving season and
As per the Short Term Elliott Wave analysis of Nasdaq Futures (NQ), the rally from the low on 4.19.2024 is believed to be progressing as an impulse. The wave ((i)) concluded at 17949, followed by a dip in wave ((ii)) which ended at 17386. The market then extended higher in wave ((iii)) with internal subdivision
- « Previous Page
- 1
- …
- 12
- 13
- 14
- 15
- 16
- …
- 20
- Next Page »