The EUR/USD pair has maintained stability around 1.1077, with investors exercising caution ahead of crucial employment data releases from the United States. The upcoming ADP private sector jobs report is the first in line, offering insight into market sentiment before Friday’s Nonfarm Payroll (NFP) report. The market will also closely monitor the weekly unemployment claims
Technical Analysis
The USD/JPY pair has experienced a slight increase, reaching 145.95 on Wednesday morning. This upward movement signals a rebound from two-week lows, however, it is too early to deem it a significant reversal in the trend given the current economic climate. Market participants are exercising caution as they await the release of crucial US employment
Gold has been shining bright in the market, with a winning streak that has lasted for seven consecutive months. The precious metal has surged by a remarkable 21% since the beginning of the year, reflecting a bullish sentiment among investors. The question on everyone’s mind now is whether this upward momentum will persist in September
The analysis of the long-term BTC/USD chart reveals a crucial point in Bitcoin’s price movement. The price of Bitcoin has been fluctuating within two distinct channels – a bullish channel and a bearish channel. The bullish channel, which originated from rumors of Bitcoin ETF approval in 2023, has been struggling to maintain momentum. On the
Gold has been facing a glass ceiling at $2525 an ounce on the spot market, struggling to break through for the past two weeks. However, a series of smaller pullbacks and more frequent rallies towards the resistance point to impressive buying pressure in the market. Over the past two weeks, a triangle has formed on
Gold has been holding a firm tone, remaining near its new all-time high as it awaits the release of the US PCE data. The metal’s strong position is attributed to factors such as strong demand, geopolitical tensions, and expectations for the Fed’s first rate cut in September. With a gain of approximately 22% since the
The euro has faced strong resistance at the 1.12000 level, leading to a correction down to 1.1100. This level has previously acted as support for the pair, creating a range-bound trading pattern between 1.1200-1.1090. The upcoming trading sessions hold the potential for different scenarios based on key technical and fundamental factors. If the price breaks