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Gold finally broke to the upside yesterday, moving sharply through the 2529 level and out of the consolidation we’ve been tracking in wave four for the last two weeks. So far, we’re seeing a nice extension to the upside, which suggests that wave five is in progress. However, it should be subdivided into five sub-waves […]

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17/06/2024

Australian Dollar Drifting Ahead of RBA Decision

The Australian dollar is steady on Monday. AUD/USD is trading at 0.6605 in the European session, down 0.14% on the day. Last week, the Australian dollar rose as much as 1.8% but pared most of these gains. RBA expected to hold rates The Reserve Bank of Australia will deliver its rate announcement early Tuesday and […]
27/06/2024

Nikkei 225: Bullish Breakout With Improved Market Breadth

Nikkei 225 broke above a 4-week range configuration Market breadth on the TOPIX has improved steadily as more of its component stocks have traded above their respective 200-day moving averages in the past three weeks. Citigroup Economic Surprise Index for Japan has inched higher since the end of May which suggests an improvement in Japanese […]
23/09/2024

AUDJPY Stalls Near 50-SMA Ahead of RBA Rate Decision

AUDJPY pauses recovery phase around 50-day SMA Risk skewed to the upside; major resistance near 100 RBA policy announcement due on Tuesday at 04:30 GMT AUDJPY has been pushing for a close above its 50-day simple moving average (SMA) at 98.25 since Friday. The pair is encountering a sense of déjà vu from July when […]