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
Technical Analysis
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
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
In a striking demonstration of resilience, gold prices have catapulted through previous constraints, culminating in a record price of over $2572 per troy ounce observed last Friday in the spot market. This considerable spike marks an approximate 3% increase from the beginning of the week and an impressive 25% rise since the start of the
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
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
The New Zealand Dollar (NZD) is at a crucial juncture, with analysts predicting that it could test the 0.6115 level if it remains below 0.6185. While a significant break below 0.6115 is not anticipated at the moment, there is a possibility of further downside towards 0.6085 in the longer term. Recent trading activity saw the
On Tuesday, gold prices saw a slight increase of 0.30% due to the decline in US Treasury yields and the weakening of the US dollar. The market is currently holding its breath as traders await important US inflation data, as well as the first presidential debate between Kamala Harris and Donald Trump. These upcoming events
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,
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
The European stock markets have been closely linked to the performance of the EUR/CHF currency pair in recent times. The correlation between France’s CAC and Germany’s DAX with EUR/CHF has been quite significant, showcasing a high positive reading of 0.82 and 0.84 respectively. This direct correlation indicates that movements in European stock indices can have
Gold prices have seen a resurgence, with a troy ounce of the precious metal reaching 2517 USD. This increase comes as the market eagerly anticipates the release of August’s pivotal US employment report. The data from this report could potentially alter the Federal Reserve’s interest rate outlook, a crucial factor as the Fed’s meeting draws