GBPUSD Analysis: GBPUSD approaches important retracement level following two-part drop
GBPUSD Analysis GBPUSD is showing two clear downward trends. The trading order is crucial, especially after reaching a high of 1.3661 yesterday. During the latter part of the Asian session and into the European session, the currency pair dropped from 1.3661 to 1.3550. This initial decline had momentum; sellers took charge and pushed prices past […]
Gold Market Bounces Back to Key $4405-$4436 Retracement Range
Gold Market Update The recent trading range for gold lies between a high of $4,536.74 and a low of $4,274.02 observed on Wednesday. There’s a key retracement area between $4,405.38 and $4,436.38, which is crucial for near-term market dynamics. If prices break above $4,436.38, it could enhance buyer confidence and shift focus back to the […]
USDJPY drops beneath crucial support, approaches Fibonacci retracement area
USDJPY Technical Update USDJPY has seen a significant decline today, breaking decisively below key levels. The moving average of 200 bars on the 4-hour chart, now around 144.86, has remained unbroken throughout the US trading session. This marks a notable shift in short-term momentum, as sellers gain a stronger foothold. The decrease became more pronounced […]
Gold Price Forecast: Rebounds but Bearish Retracement May Resume Below $2,894 – FX Empire
Bounce to test pre-support as a resistor Following last week's new record high of $2,956, gold fell below the previous week's weekly low, causing an upward trend line and a breakdown of 20-day MA. Then last Friday we saw support at a pullback low of $2,833. The next rally was a three-day advance to Wednesday's […]
Gold Price Forecast: Faces Bearish Retracement, Key Support Levels in Focus – FX Empire
Bear market continues below 2,287 Gold’s price support zone is from last week’s low near 2,287 to the previous swing low of 2,277 in early May. Given the recent bearish price action, including a drop below the 50-day moving average, a bearish rejection at resistance near the 50-day line yesterday, and the bearish trend continuation […]