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Gold maintains a firm tone, trading near its all-time high on Friday as it awaits the release of the U.S. PCE inflation data later today for fresh cues. The metal remains well-supported by strong demand—both as a safe haven and…
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The dollar index extended its recovery for a second consecutive day, supported by short covering as it approaches key support levels in the 100.29/21 zone (December 2023 low and 200-week moving average). Oversold conditions on the daily…
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EUR/GBP broke below the Fibonacci support at 0.8439 (76.4% retracement of the 0.8382/0.8624 rally) and is now testing the strong support at 0.8424 (base of the thick daily cloud) as it extends a five-day steep decline from the…
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Gold edged lower on Tuesday morning after a two-day rally brought prices close to a new record high of $2,531. Traders are cautious, keeping the metal in an extended consolidation, though demand remains robust due to a weaker dollar…
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The recovery from the $71.46 low (August 21) has extended into a third consecutive day, accelerating on Monday following reports of a near-complete halt in oil production in Libya due to escalating political tensions. This development…
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USD/JPY fell to a three-week low on Monday, hitting the 76.4% Fibonacci retracement of the 141.68/149.40 corrective upswing, reinforcing signals that the correction within the broader downtrend is nearing completion. Last week’s sharp…
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GBP/USD pulled back from its highest level since March 2022 on Monday, signaling that bulls might take a breather after a 3.6% rally over the past two weeks and a strong bullish surge last Friday (nearly a 1% daily gain). Overbought…
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The EUR/USD broke above the 1.1200 level after a 0.75% rally on Friday—the largest daily gain since August 2—reaching a new high for 2024 early Monday. Bullish momentum remains strong following a two-week advance, putting the pair on…
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The US dollar weakened broadly on Friday following the highly anticipated speech by Fed Chair Powell at the Jackson Hole symposium. Although Powell did not specify the magnitude or pace of potential rate cuts, he reaffirmed that the Federal…
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Gold regained momentum on Friday, recovering nearly half of Thursday’s 1.1% decline that had breached and closed below the psychological $2500 level. Support around the previous range’s top at the $2480 zone held firm, containing…
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