May 21 gold market review – important intra-day price entry points for active traders
Jim Wykoff’s Background and Experience With over 25 years in the stocks, finance, and commodity markets, Jim Wykoff has built an extensive career. He previously worked as a financial journalist for FWN Newswire Service, gaining experience on the commodity futures trading floors in both Chicago and New York. His reporting has spanned all futures markets […]
Gold (XAUUSD) Price Outlook: A Rise Above $3,310.48 May Aim for $3,435.06 and $3,500.20
Moody downgrades sway confidence, so the dollar slides The US Dollar Index (.DXY) dropped to its lowest level in two weeks following Moody’s downgrade of the US government’s credit rating last Friday. This downgrade was attributed to concerns over proposed increases in fiscal risks and anticipated deficits stemming from tax cuts. UBS analysts noted that […]
GBP/USD Price Outlook: Climbs toward February 2022 highs near 1.3450
GBP/USD encounters immediate resistance at 1.3445, marking the peak since February 2022. The 14-day relative strength index (RSI) rises above 50, reinforcing the bullish sentiment. Initial support is identified at the 9-day EMA of 1.3339. The GBP/USD pair is expected to continue its positive trend for the third day in a row, hovering around 1.3430 […]
Gold and Silver Price Outlook: XAU Surpasses $3,300, XAG Aims for Breakthrough Above $33.23
A metal analyst based in Hong Kong mentioned that “the chances of dramatic changes from the Fed are on the rise.” With real yields decreasing and the value of the dollar retreating, gold seems to be gearing up for another upward move. Recent statistics from the US Department of Commerce indicated that retail sales remained […]
EUR/USD Price Prediction: Positive outlook stays intact above 1.1300
EUR/USD saw some buying interest around 1.1330 during the early European trading session on Wednesday, noting a 0.42% increase for the day. The optimistic outlook for the pair seems to override the significant 100-day EMA, supported by bullish RSI indicators. The immediate resistance is at 1.1382, while the first support level to monitor is 1.1211. […]
Bitcoin open interest reaches all-time high as buyers rush towards new BTC price peaks
Key Takeaways Open interest in Bitcoin futures has reached an all-time high of $72 billion, suggesting institutional investors are increasing their use of leverage. There are about $1.2 billion in short positions at risk of liquidation between $107,000 and $108,000, which could heighten the chances of Bitcoin breaking out. On May 20, overall interest in […]
Gold Price Outlook: XAUUSD Surpasses Resistance, Targets Further Gains Towards $3,375
The 50-day moving average shows that trend support was established around the swing decline of $3,121 from last week, indicating that the bearish correction might be nearing its end. The short-term upward trend remains intact as reflected in the 50-day line. This suggests that gold may continue to rise in price. While gold is currently […]
Bitcoin set to eliminate short positions once price discovery exceeds $110K.
Key Insights When Bitcoin surpasses $102,400 at the month’s end, it signals a new peak for ongoing bull market momentum. Short positions amounting to over $3 billion in Bitcoin may become vulnerable if prices rise above $107,000, creating potential “clearing magnets” that could push BTC to new highs. Bitcoin (BTC) is now 11 days into […]
EURUSD Technical Analysis: Price struggles at resistance once more, looks toward moving average support cluster
EURUSD Technical Overview EURUSD is currently moving within a clear range, hovering around the resistance areas between 1.1265 and 1.1275. This level has consistently thwarted upward moves. Just yesterday, buyers attempted to push through, reaching 1.1280, but they couldn’t maintain that position, leading to a dip in the pair’s value. Even with this pullback, the […]
EURUSD Analysis: Price hits resistance once more, looking at a group of moving average support
EURUSD Technical Analysis EURUSD remains within well-defined trading ranges, recently closing again near the resistance area of 1.1265 to 1.1275. Buyers made a brief push yesterday, reaching up to 1.1280, but couldn’t maintain that level, leading to a downward rotation. Even with this drawdown, losses seem limited for now. Today’s lows are closely monitoring a […]