Technical Analysis

The Australian dollar (AUD) has experienced a significant uptick against the US dollar (USD), with the AUD/USD currency pair reaching a notable 0.6815. This marks the highest valuation for the Australian dollar since December 28 of last year, reflecting a burgeoning confidence in the Australian economy. Several factors have converged to facilitate this upward movement,
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In the ever-evolving landscape of Forex trading, recognizing key patterns and pivot points is essential for formulating effective strategies. Today, we delve into the AUDUSD currency pair, which has recently demonstrated notable movement reflecting insights from Elliott Wave analysis. Historically, this pair has captured traders’ attention due to its volatility and responsiveness to psychological and
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On Tuesday, gold prices held steady around $2,580 per troy ounce, reflecting both resilience and sensitivity within the market. The stability observed appears primarily due to a weakening US dollar coupled with growing anticipations regarding interest rate adjustments by the Federal Reserve. This scenario mirrors a typical economic environment where changes in monetary policy and
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In recent trading sessions, the EUR/USD currency pair has shown a capable performance, currently hovering around the 1.1088 mark as of Monday. This rise is largely attributed to a prevailing sentiment among investors regarding the Federal Reserve’s potential interest rate cuts. Analysts and economists are contemplating the implications of a likely 50 basis point decrease
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In recent trading sessions, gold prices have shown an impressive upwards trajectory, hitting a remarkable 2,570 USD per troy ounce. This surge didn’t occur in isolation but is deeply intertwined with the macroeconomic climate, particularly influenced by a weakening US dollar and diminishing yields on US government bonds. Market reactions to various economic indicators have
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As of September 12, 2024, critical developments in the monetary landscape are on the horizon with the European Central Bank (ECB) poised to implement a substantial reduction in interest rates. The forecast of a 60 basis point cut—a significant shift that will see the main refinancing rate decrease to 3.65%—stems from a confluence of economic
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Gold prices have been consolidating below the $2,530 resistance level against the US Dollar. Despite staying above the $2,480 zone, the price has struggled to initiate a significant increase. The 4-hour chart of XAU/USD reveals a stable price movement above the 100 Simple Moving Average (red, 4 hours) and the 200 Simple Moving Average (green,
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The UK labour market data released today provided some positive insights. Employment growth exceeded expectations, and unemployment benefit claims came in lower than forecasted. This news was a welcome surprise, indicating a potentially stronger economy than previously anticipated. Analysts from ING believe that the positive labour market data may influence the Bank of England’s decision
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