The GBP/USD pair is currently experiencing a surge in bullish momentum as it climbs above the 1.2700 zone. This increase is supported by a key rising channel with resistance at 1.2785 on the 4-hour chart. The British Pound has managed to form a base above the 1.2640 zone against the US Dollar, indicating a potential
Technical Analysis
The potential upcoming interest cut on 6 June from the ECB is likely to have been fully priced in by the markets. However, the forward guidance from ECB officials on the timing of subsequent rate cuts remains ambiguous. The consensus forecasts for the current Eurozone core inflation deceleration trend may have plateaued in May, leading
The Euro has managed to maintain its position above the crucial 1.0800 level against the US Dollar, creating a sense of optimism in the market. The recent uptrend has seen the pair break above the 1.0825 resistance level and settle comfortably above the 200 and 100 simple moving averages on the 4-hour chart. This indicates
In recent weeks, the Japanese Yen (JPY) has failed to strengthen despite the bullish movements in 10-year Japanese Government Bond (JGB) yields and overnight indexed swap (OIS) rates. This article delves into the main drivers of short-term JPY weakness and analyzes why the yen has been unable to stage a bullish reversal. The key short-term
The recent release of the minutes from the US Federal Reserve meeting has had a significant impact on the price of gold. The Fed’s policymakers expressed a notably cautious sentiment, signaling a restrained approach to monetary policy. This caution has led to a shift in market expectations regarding interest rate cuts, with the anticipated number
The NZD/USD pair is currently gearing up for a mid-week rally, edging closer to the 0.6116 level. This surge comes following the Reserve Bank of New Zealand’s decision to keep its monetary policy framework unchanged during the May meeting. The interest rate remains steady at 5.5% per annum, aligning with market expectations. The central bank
The cautious stance of the Federal Reserve has had a significant impact on the WTI crude oil prices. Despite the recent softening of inflation, Fed officials are hesitant to declare success in controlling inflation. This has led to concerns that US interest rates may remain elevated for a prolonged period, causing the prices of Brent
The recent tragic news of Iranian President Ebrahim Raisi’s death in a helicopter crash has had a significant impact on the price of gold. The helicopter crash, which also claimed the lives of Foreign Minister Hossein Amir-Abdollahian and other officials, has led to a surge in the price of gold. As reports of the search
AUDCAD has continued its upward trajectory, surpassing the 0.9100 mark and reaching a 14-month high of 0.9125. Despite facing challenges in breaking through the multi-month high, technical indicators such as the RSI and MACD remain in positive territory. The RSI hovers just below the 70 level, while the MACD maintains its positive momentum above both
Gold prices have surged to fresh highs, breaking above a previous sideways channel. The 20- and 50-day simple moving averages have also started to tick up, indicating a bullish trend. Both the MACD and RSI are suggesting more upside pressure in the market, with the MACD showing positive momentum above its trigger and zero lines.
The EUR/USD pair has recently experienced a strong uptrend, breaking above key resistance levels at 1.0820, 1.0850, and 1.0895. This indicates a positive sentiment in the market for the Euro against the US Dollar. The pair is currently trading above the 200 simple moving average and the 100 simple moving average on the 4-hour chart,
Silver (XAGUSD) has been showing signs of impulsive structure since the low on 10.3.2023. The price action has been characterized by waves (1) through (5), with corrections in between. The metal rallied to 25.91 in wave (1), corrected to 21.94 in wave (2), extended to 29.79 in wave (3), and pulled back to 26.02 in
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