Gold Price Outlook: XAU/USD Buyers Remain Optimistic as $2,480 Holds Ahead of US ISM Data
Gold prices are experiencing downward pressure, trading just below the $2,500 level early Tuesday. This movement consolidates a three-day downtrend following recent weekly lows. Market participants now turn their attention to the upcoming US ISM Manufacturing PMI data for the next major direction in gold prices. Gold Price Awaits US ISM Manufacturing PMI Ahead of […]
EUR/USD Slips as US Dollar Holds Firm Ahead of Manufacturing Data
EUR/USD pulls back after failing to break above the immediate resistance of 1.1080 during Tuesday’s European session. The currency pair declines as the US Dollar (USD) maintains gains, approaching a two-week high, with the US Dollar Index (DXY), which measures the Greenback against six major currencies, hovering around 101.80. The Dollar remains strong as investors […]
Caught in the Act: Wavestrader’s Fraudulent Tactics Uncovered!
Wavestrader Review Wavestrader is an online trading platform claiming to offer services in foreign exchange (forex), stocks, and cryptocurrency trading. Promising high returns and an intuitive user experience, the platform attempts to attract investors with minimal experience and those looking for a quick profit. However, Wavestrader has been linked to several allegations of fraudulent activities, […]
GBP/USD Analysis: Pound Holds Steady at Critical Support
GBP/USD experienced a decline due to renewed US Dollar (USD) strength, losing 0.7% over the past week. The pair is currently trading within a narrow range during the European morning session, and the technical outlook indicates that the bearish sentiment remains dominant. Positive macroeconomic data from the US bolstered the USD in the latter half […]
EUR/USD Outlook: Euro Faces Challenges in Gaining Recovery Momentum
EUR/USD remained under significant bearish pressure throughout the latter half of last week, closing with substantial losses for three consecutive days. After declining more than 1% over the week, the pair attempted a technical rebound and moved above 1.1050 during the European morning session on Monday. The US Dollar (USD) maintained its strength heading into […]
Asian Stocks Slide as Market Faces Volatile September Start
Asian stocks fell on Monday, reversing four months of gains, as signs of deepening economic troubles in China continued to weigh on market sentiment. Major indexes in Australia and China declined, while South Korea’s markets remained mostly unchanged. Hong Kong’s benchmark index dropped, led by a 12% slump in New World Development Co. shares after […]
Mexican Peso Gains as New Congress Takes Office
The Mexican Peso strengthened on Friday against the US Dollar following the release of the Federal Reserve’s (Fed) favored inflation measure, the core Personal Consumption Expenditures (PCE) Price Index, which came in slightly lower than expected. This supports the view that the disinflation trend is advancing, potentially paving the way for the Fed to cut […]
Retail Sentiment Flaw: GBP/USD and AUD/USD Analysis
AUD/USD Insights: 37.84% of traders are positioned long, creating a short-to-long ratio of 1.64:1. Long positions have increased by 1.20% from yesterday but are down 12.53% from last week. Short positions have climbed 1.79% from yesterday and are up 15.53% from last week. Retail traders often counter the prevailing market trend, which is usually not […]
EUR/USD: Euro Holds Ground Near 1.1150 Amid a Quiet Trading Day
Mild Decline for the Euro in Early Wednesday Trading The euro experienced mild losses in early trading on Wednesday, reflecting signs of fatigue that have been present over the past three days. The European currency is currently attempting to hold its ground around the 1.1150 level, which it temporarily dipped below. Limited Movement Amid Lackluster […]
NZD/USD Analysis: Potential Correction as Buying Weakens
The NZD/USD pair extended its gains for a third consecutive session on Thursday, climbing to a high of 0.6300 before settling around 0.6250. However, the quick rejection near the peak suggests that the buying momentum might be losing strength. The technical indicators are showing mixed signals. The Relative Strength Index (RSI) has risen to 68, […]
IG Retail Sentiment Report: AUD/USD and USD/JPY after Aussie CPI, BoJ Comments
Aussie Inflation Data Remains Mixed as Electricity Rebate Artificially Lowers CPI Australian inflation increased at an annual pace of 3.5% in July, down from 3.8% in June, according to the Australian Bureau of Statistics. This was slightly above the 3.4% estimate, but much of the decrease was due to rebates on electricity prices, which artificially […]
Oil Supply Worries Propel Prices Amid Libya Outages and Middle East Tensions
Oil prices surged following reports of disruptions at Libya’s key oilfields, a critical revenue source for the internationally recognized government in Tripoli. The oilfields, located in the eastern region of the country, are reportedly under the influence of Libyan military leader Khalifa Haftar, an opponent of the Tripoli government. While Libyan Prime Minister Abdulhamid al-Dbeibah’s […]
FTSE 100, DAX 40, and S&P 500 Pause Ahead of Nvidia Earnings
FTSE 100 Gains Momentum After Bank Holiday The FTSE 100 has resumed its upward momentum, approaching its mid-August high of 8,374. The early August peak at 8,404 also remains within reach. The immediate upward pressure is likely to persist as long as last week’s low of 8,240 holds. Below this level, the 55-day SMA at […]
EUR/USD Price Forecast: Positive Outlook Remains Strong
EUR/USD Overview The EUR/USD currency pair recently revisited the year-to-date peak around 1.1200. After achieving new highs just above this level at the start of the week, the pair encountered some downward pressure and paused its multi-week upward momentum. This mild correction occurred alongside a modest resurgence in US Dollar (USD) buying interest. The Greenback […]
EUR/USD Rally: Is There More Room to Climb?
EUR/USD Technical Analysis On the 4-hour chart, EUR/USD has established itself above the 1.1100 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair has also crossed the 1.1150 mark and tested the 1.1200 level. Currently, the pair is consolidating its gains just below 1.1200. The immediate […]
Sentiment Analysis: EUR/USD, GBP/USD, and Gold
EUR/USD Sentiment Retail trader data indicates that 25.76% of EUR/USD traders are net-long, with a ratio of traders short to long at 2.88 to 1. The number of traders net-long has increased by 12.88% from yesterday but decreased by 17.56% from last week. Conversely, the number of traders net-short has risen by 0.68% from yesterday […]
FTSE 100, DAX 40, and S&P 500 Await US Payroll Data and FOMC Minutes
FTSE 100 Takes a Breather After nearly two weeks of strong gains, the FTSE 100 has seen some profit-taking this week Investors are awaiting the release of the US FOMC minutes and the Jackson Hole symposium for insights into US monetary policy. The 55-day simple moving average (SMA) at 8,216 may come into play, with […]
Euro Gains Amid Stronger Eurozone PMIs, Weakening USD
Economic Activity Shows Mixed Signals in Eurozone Economic activity in the Eurozone saw an uptick in August, according to the latest HCOB PMIs. However, HCOB chief economist Dr. Cyrus de la Rubia cautions that the underlying fundamentals may not be as robust as they appear. “It’s a story of two contrasting sectors. The manufacturing sector […]
Nikkei 225, Dow Jones, Nasdaq 100 Show Waning Momentum
Nikkei 225 Stalls Near Key Moving Averages The Nikkei 225 has been trading sideways around the 200-day simple moving average (SMA) at 38,284, remaining below the 55-day SMA at 38,577 for the past week. A move above these averages could target the late July high of 39,281. However, a drop below Monday’s low of 37,163 […]
FTSE 100, DAX 40, and S&P 500 Brace for US Payroll Data and FOMC Minutes
FTSE 100 Pauses After Strong Gains After nearly two weeks of robust buying, the FTSE 100 is seeing some profit-taking ahead of the release of the US FOMC minutes and the upcoming Jackson Hole symposium, which could provide further insights into US monetary policy. The index may revisit the 55-day simple moving average (SMA) at […]
