Eurozone February current account balance €25.9 billion vs €30.5 billion prior Latest data released by Eurostat – 19 April 2021Prior €30.5 billionFlows in/out of the euro area in terms of goods and services are still showing some light improvement, though still some ways off pre-virus levels. The catch up trend is expected to continue in […]

Gold has managed to jump above the immediate upside obstacles signaling strong buyers and an upside continuation. The yellow metal is traded at the 1,778.81 level and it could approach and reach new highs soon. USD’s decline makes traders and investors go long on gold. The risk-off sentiment continues to dominate the markets, so the […]

Gold price gave us two bullish signals yesterday. The first one was when price broke above the short-term trend line resistance at $1,746 and the second one and most important one was when price broke above $1,758 major horizontal resistance. Green lines – medium-term bearish channel Red line- Fibonacci expansion targets Gold price is trading […]

Eurozone February trade balance €18.4 billion vs €22.0 billion expected Latest data released by Eurostat – 16 April 2021Prior €24.2 billion; revised to €28.7 billionThe trade surplus narrowed considerably with exports seen down 2.5% on the month while imports grew by 3.4% on the month in February. The setback to exports sees it drop to […]

Let’s take a look at the technical picture of AUD/USD, Gold, Crude Oil and Bitcoin at the daily time frame chart. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical Analysis of EUR/USD for April 16, 2021 April 16, 2021 Technical Market Outlook:The EUR/USD pair has hit the key short-term…Technical Analysis of […]

Gold trades at 1,762.93 level versus 1,769.66 yesterday’s high. The rate slips lower after registering an amazing rally. The yellow metal has jumped in the positive territory after a temporary decline signaling more gains. The price has reached an upside target, that’s why the current decline is natural. It could test and retest the immediate […]

Gold price is trading above the major short-term resistance of $1,758. As we explained in our last analysis, bulls needed to break above $1,748 in order to increase chances for a move above $1,758. Breaking $1,758 would confirm the major low at $1,677 and the bullish signal for a move towards $1,800. Gold bulls need […]

Germany March final CPI +1.7% vs +1.7% y/y prelim Latest data released by Destatis – 15 April 2021HICP +2.0% vs +2.0% y/y prelimThe preliminary report can be found here. No change to the initial estimates as this reaffirms stronger price pressures seen last month, largely due to base effect adjustments Further Development Analyzing the current […]

On Wednesday, Bitcoin broke its all-time record and for the first time exceeded the mark of $64,000 in view of the approaching listing of Coinbase securities on the NASDAQ exchange, which is scheduled for April 14. At the time of writing this material, the digital gold was trading at $64,207. The market capitalization of the […]

Gold price is trading around $1,735 still below the key resistance of $1,758. Bulls need to break above $1,758 to have a confirmed bullish reversal and in order to move closer to $1,788-$1,800. Until then Gold price is vulnerable to a move towards $1,710-$1,705. Blue line – horizontal resistance Blue rectangle – possible pull back […]

Nikkei 225 closes lower by 0.44% at 29,620.99Further Development Analyzing the current trading chart of Gold, I found Gold reached my first upside target from yesterday at the price of $1.745. Anyway, my advice is to watch for buying opportunities on the dips with the next upside target at $1.756. Additionally, there is the bull […]

Silver rebound after the most recent drop and it could confirm a larger growth soon. The rate failed to stabilize under 25.000 psychological level indicating strong buyers. The risk-off sentiment dominates the markets, that’s why we could see further growth on XAG/USD. The price should continue to increase if the price of gold resumes its […]

Silver has broken out of the ending diagonal, but has not yet broken clearly above short-term key resistance in the 25.36 – 25.64 area. A break above here will confirm that wave 4/ completed at 23.78 and wave 5/ now is in motion for a strong rally higher towards the 2011 peak at 49.83 and […]

Gold is still trying to break above short-term key-resistance at 1,755 to confirm that wave 4 has bottomed and wave 5 is in motion. We are still convinced that wave 4 has bottomed and once the short-term key-resistance is broken we should expect a strong surge higher to the wave 3 peak at 2,075 and […]

Gold price is trading at $1,741 after a pull back from $1,758 to $1,723. Gold price has formed a double bottom at $1,677 and near the lower channel boundary. A move above $1,758 will be a confirmed bullish break out towards $1,780-$1,800. Blue lines – bearish channel Gold price has potential to reach the upper […]

Germany April ZEW survey current situation -48.8 vs -54.1 expectedPrior -61.0Expectations 70.7 vs 79.0 expectedPrior 76.6Eurozone expectations 66.3Prior 74.0The current situation index sees a beat on estimates but the expectations reading missed and fell relative to the March survey, suggesting that optimism has waned since then. It is the first time that the latter has […]

Technical outlook: Gold remain vulnerable towards yet another low around $1,650 levels at least in the next few trading sessions. The yellow metal had managed to break above its immediate trend line resistance last week and reached up to $1,758 mark. Please note it was close to fibonacci 0.382 retracement of the drop between $1,876 […]

Gold plunged and it now stands at $1,725 level. The decline was somehow expected after reaching $1,755 static resistance. Technically, the retreat is natural after the most recent swing higher. The yellow metal plunges even if the USD stays lower versus its rivals in the short term. It remains to see how the price will […]

Gold price got rejected at the horizontal resistance of $1,758 and is now pulling back. Price could very well pull back in order to form a higher low as we explained in our previous post. This pull back could see Gold price reach $1,700-20area. Now Gold is trading at $1,731. Blue line – horizontal resistance […]

Eurozone February retail sales +3.0% vs +1.7% m/m expected Latest data released by Eurostat – 12 April 2021Prior -5.9%; revised to -5.2%Retail sales -2.9% vs -5.3% y/y expectedPrior -6.4%; revised to -5.2%After more subdued January activity, which was also impacted by winter demand, euro area retail sales bounced back a little in February – mostly […]

USDJPY buyers have emerged within the 109.66-109.84 zone (previous resistance-now-support) to contest the price pullback off a 1-year high of 110.96. The soaring 50- and 100-day simple moving averages (SMAs) are defending the near three-month rally off the 102.58 level, while a near completion of a bullish crossover of the 200-day SMA could further boost […]

Let’s take a look at the technical picture of EUR/USD, USDX and Crude Oil at the daily time frame chart. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical Analysis of ETH/USD for April 7, 2021 April 7, 2021 Crypto Industry News:The cryptocurrency industry has finally achieved its goal.…Forecast for GBP/USD on […]

The markets are consolidating in view of weak flow of macroeconomic data. On Tuesday, the US stock indices changed insignificantly, while the dynamics of prices for raw materials is almost absent. The IMF raised its forecast for global growth to 6% (previously 5.5%), with the US as the main driver of the IMF, emphasizing that […]

Gold is trading in the green at $1,741 after testing a broken dynamic resistance. The price may continue to increase if the US Dollar resumes its depreciation in the short term. The risk-off sentiment dominates the markets in the short term, that’s why the safe-haven assets are very attractive these days. The yellow metal ignored […]

S&P 500 IMF raised its forecast for global economic growth to 6%, up from its previous projection of around 5.5%. But despite that, the US market went down yesterday, dropping by approximately 0.3% in the Dow Jones index. Asian markets, on the contrary, gained numbers, with Japan indices increasing by 0.2% and China indices rising […]