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Gold broke key resistance level 2150.00  Likely to rise to resistance level 2200.00 Gold continues to rise strongly after breaking the key resistance level 2150.00 (which stopped wave A of the active ABC correction at the start of last December, as can be seen below). The breakout of the resistance level 2150.00 accelerated the active […]

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27/03/2024

Australia February Monthly CPI Indicator First Impressions

Government rebates continue to hold down inflation while personal services inflation did pick up. The Monthly CPI Indicator gained 3.4% in the year to February compared to 3.4%yr in both January and December. The February print was a softer than Westpac’s forecast of 3.8% and the market median forecast of 3.5%yr. Taken at face value, […]
18/12/2023

GBP/USD: Constructive Above Daily Tenkan-sen But Double Top Weighs

Early Monday’s action is holding within a narrow consolidation following Friday’s 0.6% pullback which left a double-top (1.2793/90). Cable remains constructive above daily Tenkan-sen (1.2647) but needs to clearly break above cracked Fibo barrier at 1.2719 (61.8% of 1.3141/1.2037) to bring bulls fully in play for fresh push towards targets at 1.2800/37 (round-figure / 200WMA). […]
31/01/2024

GBP/USD Eyes Fresh Increase, Fed Rate Decision Next

Key Highlights GBP/USD is holding the 1.2620 and 1.2600 support levels. A key declining channel is forming with resistance near 1.2700 on the 4-hour chart. EUR/USD extended losses toward 1.0800 and remains at risk of more downsides. The Fed interest rate decision is scheduled today (forecast 5.5%, versus 5.5% previous). GBP/USD Technical Analysis The British […]