Shining Bright: Silver Soars to a New High for 2024! Silver Breaks to a 12-Year High On Thursday, Silver (XAG/USD) reached a new high for 2024 and a 12-year high overall following an announcement by Chinese authorities. The People’s Bank of China (PBoC) unveiled an additional 1 trillion CNY of
USD/CAD Struggles Near 1.3470-1.3465 Range as Oil Prices Weigh Down The USD/CAD pair meets with some supply during the Asian session on Thursday and erodes a part of the overnight recovery gains from the 1.3420 region, or its lowest level since March 8. Spot prices currently trade around the 1.3470-1.3465
Gold Price Holds Steady Below Record High as Market Anticipates Fed Chair Powell’s Address Introduction Gold price (XAU/USD) extends its sideways consolidative price move for the second straight day on Thursday and remains well within striking distance of the record high touched the previous day. Traders opt to move to
Uncovering the GBP/USD Forecast: A Technical Look at a Possible Short-Term Decline The Recent Surge of the British Pound GBP/USD has been on an absolute tear of late, with the British pound clocking in as the best performing major currency over the last month. Fundamentally speaking, a continuation of better-than-expected
Breaking Down the AUD/USD Forecast: Why the Upside Momentum May Be Hitting a Roadblock at 0.6900 Description: The AUD/USD pair edges lower after posting a fresh yearly high around 0.6900 in Wednesday’s North American session. The broader outlook of the Aussie asset remains firm as the Reserve Bank of Australia
Is the EUR/USD Outlook Losing its Shine? A Closer Look at Recent Gains Description After a weaker start to the week, the EUR/USD has found some support in the last couple of days – all thanks to Chinese efforts to reflate their economy and further weakness in US data, than
EUR/USD Soars to 1.1200 as Positive Market Sentiment Dampens US Dollar The Euro (EUR) is gaining momentum In recent European trading hours, the Euro (EUR) has been making significant gains against the US Dollar (USD). The EUR/USD pair has surged to near 1.1200, reflecting positive market sentiment towards the Euro
Unleashing the Power of the British Pound: How the US Dollar and Euro Struggles are Driving GBPEUR to New Heights in 2024-09-25 Description Weaker-than-expected economic data from the US and Germany undermined the Euro and dollar on Tuesday with the Pound again in position to take advantage. The Pound to
Breaking Down the AUD/USD Pullback: What’s Behind the Modest USD Uptick? The AUD/USD pair struggles to find acceptance The AUD/USD pair is currently facing challenges in maintaining its position above the 0.6900 round figure. After reaching its highest level since February 2023 earlier on Wednesday, the pair has experienced a
Breaking News: GBP/USD Holds Strong Above 1.34 Mark, Reaches Highest Point Since March 2022! The GBP/USD pair continues its upward trajectory The GBP/USD pair has been on a steady incline over the past two weeks, with the currency pair reaching its highest level since March 2022, at around the 1.3430
USD/JPY: Is the Post-FOMC Bounce Over as Wedge Resistance is Tested? Introduction As we delve deeper into the new year, one of the most ideal carry trade scenarios in the USD/JPY pair seems to be losing its momentum. The pair has been facing continued resistance at the 150-151.95 area, but
Unleashing the Power of the US Dollar: Top Price Action Setups for EUR/USD, USD/JPY, GBP/USD, and Gold! The Impact of the Fed’s Decision The recent decision by the Federal Reserve to cut interest rates by 50 basis points and signal further cuts has sent shockwaves through the financial markets. While
Breaking Down the British Pound: A Short-Term Outlook for GBP/USD and Resistance Levels to Watch Out for on 9/24/2024 Introduction The British Pound has been making significant moves in the currency market, particularly against the US Dollar. GBP/USD has been on a five-day winning streak, reaching new highs for the
NZD/USD Continues to Surge Near 0.6300 as China Announces Major Stimulus Package Description: The NZD/USD pair rallies to near the key resistance of 0.6300 in Tuesday’s North American session. The Kiwi asset strengthens on the firm New Zealand Dollar (NZD), which is enjoying higher inflows after the announcement of China’s
Breaking Down the EUR/USD Forecast: How the Euro Reacted to Chinese Stimulus The Impact of Chinese Stimulus on the EUR/USD The EUR/USD saw a slight uptick in the first half of Wednesday’s session, driven by a positive risk sentiment in the market. This surge in positivity can be attributed to
Breaking Down the AUD/USD: A Look at the Current Flat Market and its Impact on the 2020 High Reached on Tuesday Description: The AUD/USD pair struggles to capitalize on its modest intraday gains to the 0.6870 region, or a fresh YTD peak touched earlier this Tuesday and touches a daily
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