Gold price is trading at $1,722. Gold price the last couple of sessions has formed a low at $1,676 and as expected has bounced towards the first important resistance at $1,725-30. Price seems unable to move above this resistance level. As we explained in our last analysis, we consider this as a counter trend bounce […]

China is obviously optimistic about economy, but also realistic China doesn’t want big fluctuations in GDP growth 2021 GDP growth target should match that in the next year to avoid big swings Growth target is aimed to guide expectations Historically speaking, it is low but one also has to consider the current predicament of the […]

EUR/USD Important changes in the situation were not observed. The bulls are slowly moving upwards. The current nearest pivot point for the correction is the area of 1.1975-91 (daily levels + weekly Kijun). Other resistances, which also combine weekly and daily levels, are found at the limits of 1.2039-64. In turn, the closing level of […]

A modest USD pullback assisted gold to regain some positive traction on Wednesday. Acceptance above 23.6% Fibo. Supports prospects for further gains. Technical indicator on warrants might keep a lid on the recovery move. Gold finally broke out of its intraday consolidative trading range and shot to near one-week tops, around the $1,723-24 region during […]

10-year yields are up 3.7 bps to 1.563% currently, near the highs for the day as all eyes will be on the auction later in the day at 1800 GMT. Before that, we’ll be getting US February CPI data but I wouldn’t expect that to really tip the scales in the market considering that the […]

On Wednesday morning, the price of oil continues to fall amid a report by the American Petroleum Institute (API) on a significant increase in raw materials stocks in the United States. To put it simply, the price of May futures for North Sea Brent crude oil sank by 0.8% and hit $66.98 per barrel, while […]

Crypto Industry News: Respected strategist Mike McGlone recently tweeted that his data points to an accelerating pace of bitcoin replacement of gold as “a store of value in investors’ wallets.” While precious metal will always have a place in “jewelry and coin collections,” BTC seems to be “putting the old guard aside” and replacing metal […]

Silver has been correcting since the February 1 peak at 30.02 and is now ready to resume the underlying uptrend for a new test of key-resistance at 30.00. A clear break above 30.00 will open for a strong impulsive rally higher to 50.00 and ultimately above here too. Short-term a break above minor resistance at […]

Gold’s near-term prospects excite traders and investors. Analysts are careful in their forecasts, but some of them offer great solutions. The short-term planning range for the dynamics of gold still does not go beyond $ 2,000 per ounce. On Wednesday, the yellow metal started to move upwards after the prolonged decline. Yesterday, futures for precious […]

Recently, the shares of many technology companies have fallen in price. In particular, the shares of Tesla. The electric car manufacturer led by Elon Musk, lost about $ 300 billion in capitalization due to the latest drop in the share price. However, from our point of view, this is not terrible for Tesla. And the […]

Bitcoin is growing again and did not implement the scenario that we predicted for it – with a retest of the support area of $43,000 – $44,000. Thus, the growth of quotes has resumed, and in the coming days, “digital gold” may reach its previous maximum around the level of $58,500 per coin. It cannot […]

Gold witnessed a short-covering bounce and recovered the overnight losses to multi-month lows. A sharp pullback in the US bond yields undermined the USD and remained supportive of the move. GOLD held on to the strong recovery gains and was placed near the top boundary of its daily trading range, just below the $1,710 level […]

Eurozone Q4 final GDP -0.7% vs -0.6% q/q second estimate Q4 GDP -4.9% vs -5.0% y/y second estimate The second estimate report can be found here. Looking at the details, household consumption fell by 3% q/q after the revised 14.1% q/q jump in Q3 while government expenditure expanded by another 0.4% q/q after the revised […]

There were a lot of important events that happened in the markets on Monday. The main one is the Senate’s approval of $ 1.9 trillion stimulus measures for the US economy. The second, which we should also put attention to, is D. Tapper’s statement published in the media. The billionaire investor believes that the rebound […]

Crypto Industry News: US bank JPMorgan has 34 open positions in Blockchain technology posted on its website. Most jobs posted are for the United States, India and Singapore. Many of the positions are directly related to Onyx, a branch set up last October to oversee JPM Coin, a bank’s wholesale payment token. Numerous Blockchain Engineer […]

Gold is now testing triple support near 1,685 and we are looking for a corrective low in wave 4 and renewed upside pressure as wave 5 takes over. The next impulsive rally in wave 5 should take gold way above the former peak at 2,075 and see a minimum of 2,729 but it’s worth to […]

Gold price is trading below $1,700 and remains in a bearish trend. Price continues making lower lows and lower highs. Gold price is now testing a trend line support coming from $1,270 touching to major lows. Bulls hope this will be the third major low and price will reverse to the upside. Red line – […]

BOE’s Bailey: We may need more evidence than normal that inflation rise will be persistent We will see a rise in inflation in the short-term It will be challenging to decide if any increase in prices is likely to be persistent This is pretty much the tagline of every central banker at the moment but […]

GBPUSD is aggressively returning higher to the vicinity of the near 33-month high of 1.3758, after a pullback was rescued around the cloud’s upper band. A persevering upwards drive above the tentative trend line, pulled from the 1.2854 level in November 2020, is being reflected in the pair even though the recent pace in its […]

It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market mood as preliminary GDP numbers out of the Eurozone could heighten fears of a double-dip […]

NZDUSD is outperforming over the last three weeks in a descending channel, holding near the 200-period simple moving average (SMA) and beneath the Ichimoku cloud. The RSI is sloping marginally up in the bearish region, while the MACD is trying to surpass the trigger line below the zero level. The 20- and 40-period SMAs created […]

Wall Street set to open in the red, erasing latest rebound Overall, nothing has changed, so risk aversion could fade soon Yen crumbles after BoJ signals, but broader FX market relatively calm Fear grips Wall Street again What a crazy week. An assault by small investors weaponizing call options against hedge fund short positions sparked […]

GBPJPY has leaped above the crucial barrier of 142.70 after posting gains for more than a month. The positive price action to an eleven-month high, just beneath the 143.71 barrier, is still being nourished by the bullish Ichimoku lines, while the simple moving averages (SMAs) are preserving the progressing picture. The short-term oscillators are also […]

USDCAD is gaining some ground for the third consecutive day above the 20- and 40-day simple moving averages (SMAs), rebounding off the 33-month trough of 1.2585. The pair is flirting with the long-term falling trend line around the 1.2900 psychological level. According to the technical indicators, the stochastic is suggesting an overbought market as the […]

The US 30 stock index (Cash) has found footing on the 30,047 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 26,065 until 31,284, after receding from its latest all-time high of 31,284. Yesterday’s losses saw the index pierce below the 50-day simple moving average (SMA), last encountered in early […]