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DXY: The DXY chart currently exhibits a bearish overall momentum, and there’s potential for a bearish reaction off the 1st resistance level, suggesting a possible downward movement towards the 1st support. The 1st support at 102.60 is categorized as an overlap support, which implies that it could be a significant level where buying interest may […]

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29/05/2024

GBP/JPY Hits New Multi-Year High

The GBPJPY cross continues to trend higher and establishing above 200 mark (Monday’s close above this level was the first since Aug 2008). Bulls cracked barrier at 200.50 (Apr 29 spike high), with sustained break here to open way for further acceleration. Sterling remains supported by strong divergence between the interest rates of BoE and […]
07/12/2023

Gold Price Trims Gains, Can This Key Support Hold?

Key Highlights Gold prices rallied toward $2,150 before a downside correction. It broke a key bullish trend line with support near $2,035 on the 4-hour chart. Crude oil prices extended losses and traded below the $72.00 support. EUR/USD failed to stay above the key 1.0820 support. Gold Price Technical Analysis Gold rallied above the $2,000 […]
03/07/2024

Investors Await NFP to Validate Their Fed Rate Cut Bets

Investors expect two rate cuts, even though Fed signals one Recent data corroborates investors’ take Nonfarm payrolls waited for more confirmation The report comes out on Friday, at 12:30 GMT Fed appears hawkish, but data paint a different picture At its latest gathering, the FOMC appeared more hawkish than expected, revising its interest rate projections […]