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Overnight, the gold price briefly exceeded $2300, recording another round level, not counting an update of the all-time high. This is an occasion to assess gold’s prospects, which are becoming a little less unambiguous. Touching the level of $2300 marked the achievement of the 161.8% Fibonacci retracement of the growth impulse from 29 February to […]

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05/03/2024

WTI Oil Price Reaches 4-month High Against the Backdrop of OPEC+ Decision

On Friday, the price of a barrel of WTI crude oil exceeded USD 80 per barrel due to the decision to continue the policy of reducing oil production by OPEC+ countries. Saudi Arabia said on Sunday it would extend oil production cuts until June to “maintain stability and balance in oil markets,” an official statement […]
08/07/2024

USD/JPY: Soft US Data Offers a Potential Relief Rally for JPY

Lacklustre US non-farm payrolls & ISM Services PMI for June has led to a further drop in US Treasury yields. Both the 2-year and 10-year US Treasuries/JGBs yield premiums have shrunk to a 5-month low. A lower positive carry using JPY as a funded currency and elevated net short positioning in JPY futures may put […]
25/06/2024

EURJPY Wave Analysis

EURJPY approaching strong resistance level 171.55  Likely to correct down from 171.55 EURJPY currency pair approaching the strong resistance level 171.55 (which stopped the previous sharp upward impulse wave 1 at the end of April, as you can see below). The resistance level 171.55 is further strengthened by the upper daily Bollinger Band. Given the […]