XAU/USD plunged in yesterday’s session due to USDX’s short-term rally. The yellow metal lost its chance to stabilize above the $1,900 psychological level signaling a high selling pressure. Still, the price of gold maintains a bullish perspective as long it stays above the $1,862 – $ 1,848 area. The ECB could bring high action on […]

So Germany has closed bars and restaurants. Only for a month. And judging by the dynamics of the spread of the coronavirus epidemic, this decision may well be extended. France has already followed the example of Germany, which has also introduced a kind of limited quarantine, with the closure of bars, restaurants and shops. An […]

Trend analysis (Fig. 1) Today, the market, from the level of 1.2986 (the closing of yesterday’s daily candle) can start working up with the goal of 1.3078 which is a pullback level of 50.0% (blue dotted line). When this level is reached, continue working up with the goal of 1.3173 which is a rollback level […]

The second wave of COVID-19 again put oil prices at risk of decline. However, is there a danger that the dramatic events that took place in the oil market in the spring of 2020 will repeat and oil will collapse to the values of $20 and below? What will happen in the oil market if […]

For the last few sessions we have been warning bulls that as long as Gold price is below the Kumo resistance it is vulnerable on a move lower. We specifically noted that key support was at $1,892 and a break below it would be our next bearish signal. Gold price has broken below the kijun-sen […]

Oil supplies have declined sharply in recent months, which allows us to keep world prices for this energy carrier at a more or less acceptable level – $40 per barrel. Still, there is no need to talk about the market’s return to pre-crisis times. And as sad as it may sound, oil companies and states […]

Prior 26.2 Economic expectations have slumped heavily, even the readings for the Eurozone (drop from 11.5 to -7.0) and the US (drop from 8.2 to -9.3), and that reflects waning optimism among investors towards the outlook in Q4. As the virus resurgence continues and tighter restrictions are being weighed across Europe, that is not going […]

This spring, due to the pandemic, bitcoin fell by 50% to $3,800, stock indices also slumped by 20-30%. Only gold managed to benefit from this situation, almost reaching a historical high. Thanks to the help of the central banks, stock indices quickly returned to pre-crisis levels. Bitcoin, in turn, began to rise rapidly. Market experts […]

Overview : The trend of GBP/USD pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.7158 and 0.7090. Also, the daily resistance and support are seen at the levels of 0.7158 and […]

Eurozone September M3 money supply +10.4% vs +9.6% y/y expected Latest data released by the ECB – 27 October 2020 Prior +9.5% Slight delay in the release by the source. Broad money growth continues to swell, with the annual change reflecting the biggest jump since December 2007. Meanwhile, loans to households also increased to +3.1% […]

As the number of COVID-19 cases in the US, France, and Russia reaches record highs, and Saudi Arabia’s energy minister Prince Abdulaziz bin Salman says the worst for the oil market is over, it feels like sarcasm. The pandemic and the associated lockdown and recession have pushed Texas black gold prices below zero for the […]

Let’s take a look at the technical picture of Gold, EUR/GBP and AUD/USD before the key events of the trading day The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Daily review on EURUSD for October 27, 2020 October 27, 2020 EURUSD:You may consider purchases upon the breakdown at 1.1835 with…Hot forecast and […]

Gold price fell below support at $1,900 today and reached $1,892. However bulls stepped in and price is again above $1,900. Gold price is challenging the tenkan-sen at $1,906 and we keep a close eye on today’s lows. Blue line – short trade triggered Price is still below the Ichimoku cloud resistance. If price breaks […]

This morning, gold was trading in negative territory mainly due to the strengthening of the US dollar against its major rivals. In the morning trade, gold futures for December delivery declined by 0.34%, or 6.4 US dollars. Currently, the price has consolidated at around $1,898.8 per troy ounce. Silver futures contracts for December also fell […]

Gold seems undecided in the short term after escaping from the down channel. It hovers around the $1,900 psychological level, so we have to wait for a fresh trading opportunity, signals before deciding to go long or short. The bias remains bullish, gold could increase, as long it stays above the $1,900 level. Dropping and […]

Japan’s largest private insurer says to reduce investment into foreign bonds without currency hedge Nippon Life announces to cut FX exposure and shift back to domestic debt The insurer just announced plans to increase its holding of yen fixed income products – JGBs and corporate bonds – while reducing investments into foreign bonds without currency […]

Today, on Monday, the US dollar exchange rate is showing positive dynamics and is growing against other major currencies. The rising number of new coronavirus cases in the world and doubts about the adoption of new measures to support the US economy contribute to the advance in the US dollar and other safe-haven assets. This […]

4-hour timeframe Technical details: Higher linear regression channel: direction – downward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 81.2937 During the last trading day of the past week, the EUR/USD pair completed a correction near the moving average line, bounced off it, and resumed its upward movement. Thus, […]

Each new crisis leads to an increase in the already gigantic debt. The current coronavirus crisis has proven this again. To support the economy and the lives of citizens, printed money comes to help. This has already become the rule. Governments cannot imagine life without printing money. How long will it last? And to what […]

HICP 0.0% vs 0.0% y/y prelim HICP -0.6% vs -0.6% m/m prelim A slight revision lower in headline annual inflation is the only change relative to the initial report, but it doesn’t tell us anything new. Inflation pressures are subdued in September across the region and that continues to keep the ECB on their toes […]

The coronavirus is quickly spreading around the world, raising worries among investors. The virus suppresses economic activity. Besides, the chances of stimulating the economy before the US elections are zero. Amid this situation, European stock indexes moved sharply lower. Germany’s DAX lost 2.4%, France’s CAC 40 fell by 1.8%, and the UK’s FTSE dropped by […]

EURUSD has been on a downward trajectory lately after the recent decline from the 1.1830 high and under the simple moving averages (SMAs), but the pair encountered support near the 1.1700 level and has subsequently rebounded a little. The diving 20-period SMA promotes further losses, while the slowing downward pace of the 100- and 200-period […]

Globally, the wave pattern of the EUR/USD pair still looks quite convincing, and wave 4 is quite complete. Thus, the main option remains to increase quotes from the current levels within the framework of building wave 5 with goals located above the high of the expected wave 3 or C. This means that the indicated […]

EUR/USD drops aggressively on the H4 chart as the US Dollar Index rallies again. The pair could activate the correction phase if the quote drops and stabilizes under the 1.17 psychological level. Still, it is premature to talk about a deeper drop as long EUR/USD is trading above the red downtrend line and under the […]

The situation of the US dollar has developed inconsistently. On the one hand, it shows significant volatility, rising and falling periodically, while on the other hand, it is completely tired of the “up and down” movement. What worsens the situation is the upcoming US presidential elections, which can increase the imbalance in the EUR/USD pair. […]