Technical Outlook

Gold’s pullback from its new record high appears to be losing momentum as the market awaits crucial US economic data

Gold prices showing some resilience after the recent pullback is quite interesting. The Doji candle on Monday suggests that the corrective phase might be losing momentum, especially with support holding around the $2390 mark. The $2427 level, which corresponds to the daily Tenkan-sen, seems to be a key resistance point for any recovery. The…
Read More...

EUR/USD – Although the correction has been limited so far, the risk of a deeper pullback still exists

EUR/USD edged higher during European trading on Monday, as bears paused after a two-day retreat from a multi-week high of 1.0948. The rising 10-day moving average (DMA) and the 23.6% Fibonacci retracement of the 1.0666 to 1.0948 move (at 1.0881) have contained dips, suggesting a shallow correction before the bulls potentially regain control.…
Read More...

Risk Aversion Boosts the Dollar

The dollar index extended its recovery for the second consecutive day, bouncing strongly from a new four-month low of 103.31 on Thursday. This surge was driven by fresh risk aversion following a global cyber outage that impacted financial centers, banks, airlines, and other sectors, pushing investors towards safer assets. Technically, the daily…
Read More...