The EUR/USD pair has been on a rollercoaster ride, with the Euro surging against the US Dollar after breaking the 1.0950 resistance. Bulls pushed the pair above the 50-hour simple moving average and 1.1050, eventually testing the 1.1130 resistance. However, the pair is now consolidating gains above the 23.6% Fib retracement level. Immediate support lies
Technical Analysis
Recently, the US inflation rate has been on the decline, leading to speculation that the Federal Reserve might cut interest rates. This has resulted in a bearish sentiment towards the dollar, causing major currency pairs to approach critical levels that could potentially trigger new trends. Looking at the technical analysis of GBP/USD, there is a
Bitcoin (BTCUSD) has been struggling to gain momentum in recent sessions, with sentiment deteriorating after facing multiple rejections at the 50-day SMA. The cryptocurrency experienced a significant selloff in August, following a disappointing July Non-Farm Payrolls (NFP) report. Unlike traditional stocks, Bitcoin has been unable to recover substantial ground, as the 50-day SMA has consistently
The price of gold has been on a steady rise, with it hovering around $2500 per troy ounce, reaching record peaks. The surge in gold prices can be attributed to the increased demand for safe-haven assets amidst ongoing geopolitical tensions, particularly in the Middle East. The conflict in this region has intensified, with U.S. Secretary
In the realm of trading, particularly in the XAUUSD market, having a clear strategy is essential for success. The article highlights two key scenarios for traders to consider: a bearish scenario with sell positions below 2470, and a bullish scenario with buying positions after a pullback above 2460. On the daily timeframe, price consolidation is
Crude oil prices have been struggling to break through the $80.00 resistance zone, facing hurdles even after a brief spike above this level. The 4-hour chart of XTI/USD shows a downward trend after reaching a high of $80.26, trading below $78.80 and $78.00. The price is currently testing the 100 simple moving average, signaling a
The market sentiment seems to have shifted towards growth-related macro data rather than inflation risk. This change in focus could be attributed to the fear of a US recession or a hard-landing scenario, leading investors to prioritize economic growth indicators over inflation trends. The recent softer US retail sales data may exacerbate these concerns and
The article begins with the mention of gold prices rebounding after a post-CPI selloff, which pushed the metal down to around $2438/oz. The unexpected nature of this selloff is highlighted, as US CPI figures were below expectations. This raises questions about the market dynamics and investor sentiment towards gold prices. It is important to delve