WTI oil extended pullback from new multi-month high ($66.46) in early Tuesday’s trading, following gap-lower opening at the start of the week and over 4% drop on Monday which marks the biggest daily loss since Nov 11. Signals of de-escalation in US-Iran tensions eased supply fears and prompted strong selling, along with firmer dollar.…

Gold extended sharp drop and fell to the lowest in one month, after trading on Monday started with about $100 gap lower, signaling that negative sentiment (after Friday’s biggest daily drop in over four decades), persists. De-escalating tensions over Iran and initial signals that war in Ukraine might be heading towards its end, contributed to…

AUDUSD extended rally for nearly two weeks and hit three-year high on Thursday (0.7093), before easing. Weakening US dollar and Aussie tracking strong rise in precious metals, were mainly behind the latest rally (up over 6% since the move started on Jan 19). Bulls broke and established above psychological 0.70 level, but faced strong…

When gold broke through magic $5000 barrier on Monday, I was asked whether the metal can reach $5500 in coming months? My answer was that $6000 per ounce is very likely and in a matter of weeks, not by the end of the year, as some analysts predicted. Four days later, gold touched the high at almost $5600, so if we follow that logic, reaching…

Gold cracked $5300 barrier and hit new record high ($5311) in early Wednesday, remaining in steep and uninterrupted rally that has registered the fastest moves from one to another round-figure level (less than 25 hours), after the price broke psychological $5000 barrier. The latest strong fall of dollar (Tuesday) that pushed the currency to the…

USDJPY remains in a steep fall for the third consecutive day (down almost 4%) with speculations that intervention may be behind the move, along with increased safe-haven demand and month-end flows. Fresh extension lower on Tuesday broke through significant supports at 153.62 (the base of thick ascending daily Ichimoku cloud / 100 DMA) and…

The Euro keeps firm tone and holds near fresh multi-month high (1.1907, posted on Monday) following last week’s strong rally and gap-higher opening at the start of this week. Weak dollar with signals of possible deeper drop, was mainly behind the latest advance. Friday’s close above broken Fibo 76.4% of 1.1918/1.1468 (1.1812) confirmed firm…

Gold took out $5000 barrier in one single step on Monday, in a widely expected post-weekend action, but made a small surprise to traders by extension to $5100, which happened in just few hours of early Monday’s trading. The yellow metal started trading with a gap higher and opened slightly above $5K following news over the weekend that added to…