AUD/USD Price Outlook: Requires a clear breakthrough above the 50% Fibo retracement at 0.7050 for further gains
The Australian dollar was down by 0.22% to approximately 0.7035 during early trading in Europe on Friday. This decline is attributed to a rebound in the US dollar after Iran reportedly rejected a memorandum of understanding that President Trump claimed had been agreed upon by the Iranian leadership, as covered by Iran’s Fars news agency. […]
NZD/USD Price Outlook: Difficulty in maintaining position above 61.8% Fibonacci retracement near 0.5940
Market Overview: NZD/USD Developments The NZD/USD pair is experiencing some light pressure, currently trading around 0.5935 during late Asian trading on Thursday. The market seems a bit cautious as investors are keenly awaiting the results of President Trump’s discussion with Chinese leader Xi Jinping. As of now, Asian stock markets are mostly down, with the […]
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 […]