Gold falls to new multi-week low but bears face headwinds from significant $2600 support zone
Gold fell further and hit new multi-week low on Tuesday (the lowest since Sep 20) in extension of Monday’s 2.5% fall.
The yellow metal remains in steep near term downtrend since US election, deflated by victory of Donald Trump and…
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Bitcoin cracks psychological 90K barrier in post-election euphoria; 100K target coming in sight
Bitcoin cracked psychological 90K barrier in early Tuesday trading, in extension of Monday’s 10% rally (the biggest daily gain since May 15).
Bitcoin remains in steep bullish acceleration since Trump’s election victory (advanced 30%…
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EURUSD – steep downtrend extends to new multi-month low
EURUSD started the week negatively (down 0.7% until early US trading on Monday, in extension of Friday’s 0.8% drop, with total loss of 2.7% since announcement of Trump’s victory on Wednesday.
The single currency has also…
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Gold holds in red as markets await fresh signals from US inflation data and Fed speakers
Gold remains at the back foot and stays in red for the second day on firmer dollar and also pressured by eased US political uncertainty, which recently fueled safe haven demand, along with geopolitics and expectations for stronger Fed rate…
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Bitcoin hits series of new record highs on the way towards 90K target as Trump’s victory…
Bitcoin keeps firm tone and rose to new record high above 82K early Monday, after advancing almost 5% previous day, when psychological 80K barrier was taken out.
It received fresh boost from euphoria surrounding Trump’s election victory,…
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USDJPY – bulls regain control after correction but need to clear recent peaks to signal…
USDJPY regained traction and bounced from 152.14 (low of two-day pullback from new multi-week tops), offsetting negative signal from bull-trap on weekly chart (failure to register weekly close above 153.40 (Fibo 61.8% of 161.95/139.57).…
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EURUSD – bears hold grip but prolonged consolidation may precede fresh push lower
EURUSD weakened on Friday after recovery attempts from new multi-month low (1.0682), hit after Wednesday’s post-election 1.7% fall (the biggest daily loss since 19 Mar 2020), failed to clear daily Tenkan-sen (1.0809).
Formation of…
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Dollar index expected to remain constructive above key supports as markets digest news from US…
The dollar index is in a sideways mode on Friday morning after Thursday’s drop almost fully reversed post-election rally on Wednesday.
Near-term action ranging above the base of thick hourly Ichimoku cloud and expected to remain…
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Bank of England cuts rates as expected but may slow the pace of easing on expectations that…
The Bank of England cut interest rates by 25 basis points from 5% to 4.75%, following BoE MPC 8-1 vote to cut rates.
This was the second rate cut since 2020, and BoE is likely to keep cautious approach in anticipation that new…
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Dollar eases from new multi-month high in likely positioning for Fed rate decision
The dollar index eases from new four-month high (105.33) posted on Wednesday’s sharp rally (the biggest daily gain in two years) on news of Trump’s election victory.
Partial profit taking pushed the price lower, but the dollar keeps firm…
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