Tag - technical analysis

Gold prices, currently near $2,030, saw a modest decrease of 1% over the past week and a 2% dip since the start of 2024. Meanwhile, silver surpassed $22 per ounce, experiencing a 4% drop in the week and a 6.5% decline in the year so far. Upcoming scrutiny of economic data, particularly the Q4 US GDP report

Bullish Scenario: Consider buying at levels 1.3428 or 1.3462 with take profit targets at 1.3990 (TP1), 135.00 (TP2), and 1.3510 in extension (TP3). Bearish Scenario: Selling below 1.3460 (waiting for a retracement to the zone) with TP1 at 1.3430, TP2 at 1.3415, and TP3 at 1.34 in extension.

The New Zealand dollar (NZD) kicks off the week at 0.6116, showing minimal change. However, last week saw a 2% dip, pushing the NZD to a five-week low. Economic challenges persist in New Zealand, with the Performance of Services Index (PSI) revealing three contractions in the second half of 2023. November's PSI improved marginally to 51.2 from

The yen has experienced significant fluctuations in recent weeks, initially gaining ground against the weakening US dollar in December but subsequently losing those gains as the dollar rebounded in January. USD/JPY reached 148.80 on Friday, the highest level since November 28, prompting concerns that if the yen continues to depreciate, the Ministry of Finance might

Main Scenario: Buying above 148.00 with targets at 148.62 and 149.00 in extension. Alternative Scenario: Selling below 147.60 with targets at 147.36 and 147.00 and the ADR (Average Daily Range) at 146.76 in extension.

Swiss National Bank (SNB) President Thomas Jordan has expressed that the recent appreciation of the Swiss franc has reached a point where it could significantly influence the inflation outlook. This observation indicates apprehensions regarding the strength of the Swiss franc and its potential consequences for inflation dynamics.

Main Scenario: Buys above 2030 with targets at 2035, 2039, and 2042 as extensions. Alternative Scenario: Sells below 2024 with targets at 2017, 2013, and 2008 as extensions.

In November, average pay growth in the UK slowed to 6.5%, down from 7.2% in the previous month, according to the Office for National Statistics. This decline suggests that inflationary pressures have weakened more than anticipated. The decrease in pay growth came as the UK jobs market weakened due to high interest rates and stagnation across much of the economy.

The price of Gold (XAU/USD) has experienced a significant sell-off, dropping to around $2,040 after failing to surpass the weekly high of $2,062…

Primary Scenario: Sales below 16767 / 16838 (wait for a return to these levels) with targets at 16615.70 and 16513.72 as an extension. Alternative Scenario: Buys above 16730 with targets at 16766 and 16838 as an extension.

The World Economic Forum (WEF) scheduled for next week in Davos will address critical geopolitical issues, including talks to end conflicts in Gaza, Ukraine, and Africa. U.S. Secretary of State Antony Blinken, French President Emmanuel Macron, and key Middle East leaders are expected to attend. The economic challenges, such as shifting interest rate policies and rising debt...

Bitcoin halving occurs approximately every four years, reducing the rate at which new Bitcoin is created by half. The last three halvings happened in 2012, 2016, and 2020. The upcoming one is expected in April 2024. This mechanism is designed to control the supply of new Bitcoin, contributing to its scarcity and controlled issuance.