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DXY: The DXY (US Dollar Index) chart currently has a bullish overall momentum, with price trading within a bullish ascending channel. In this scenario, price could potentially continue its bullish momentum towards the 1st resistance level. The 1st support at 103.28 is considered a swing low support, indicating that it has previously acted as a […]

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16/05/2024

Australia April Labour Force: Gradual Softening Persists

Employment: +38.5k (from –5.9k). Unemployment Rate: 4.1% (from 3.9%). Participation Rate: 66.7% (from 66.6%). In April, the level of employment rose by +38.5k (0.3%), stronger than Westpac’s forecast for +20k and the market consensus for +23.7k. That follows a fairly volatile opening quarter, with gains ranging from +11.6k in January, to +118.2k in February and […]
11/12/2023

EUR/USD Takes Hit And At Risk of More Downsides

Key Highlights EUR/USD struggled near 1.1020 and started a fresh decline. It traded below a key bullish trend line with support at 1.0860 on the 4-hour chart. GBP/USD is also correcting gains below the 1.2600 level. Gold prices declined heavily and traded below $2,000. EUR/USD Technical Analysis The Euro failed to gather momentum above the […]
04/09/2024

Gold Stands Within Sideways Channel

Gold eases beneath near-term SMAs Stochastics post positive divergence MACD strengthens bearish momentum Gold prices have been developing within a trading range of 2,470 to 2,528 since August 16 with mid-level the 2,507 resistance, which overlaps with the 50-period simple moving average (SMA) in the 4-hour chart. Technically, the stochastic is moving higher, creating a […]