Tag: Gold

June 07, 2023 BY Steffy Bogdanova

Weekly data: Gold and AUDUSD in focus

AUDUSD  The Australian dollar had performed an uptick following the unexpected rise of the interest rate from RBA. This reaction might be temporary, though now Aussie is of the few currencies, gaining higher yields in real-time. Considering the position of AUDUSD at the intermediate-term resistance area, it may pull back as shown on the chart,…

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Weekly data: Oil and Gold price action before the NFP
May 26, 2023 BY Steffy Bogdanova

Daily Report: XAU/USD appears vulnerable

Short-Term Support Breach? While the bigger picture (daily chart) displays room to push lower, H1 support at $1,945 is vulnerable. Overhead resistance at $1,955 remains on the radar, but the zone surrounding the base (often recommended to draw support/resistance as a zone rather than a defined price point) has been tested. Therefore, a decisive H1…

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April 25, 2023 BY Steffy Bogdanova

Weekly data: EURUSD & Gold price action before GDP data

On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands and has since corrected to the downside.  The 50 SMA has crossed above the 100 SMA indicating the bull movement is still strong while the Stochastic oscillator is not indicating any overbought or oversold…

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Weekly data: Oil and Gold price action before the NFP
April 06, 2023 BY Steffy Bogdanova

Spot gold closing in on record highs at $2,075

ATH Likely to be Challenged Technically, limited resistance is evident on the weekly timeframe, following the breach of resistance from $1,988. This paves the way for a run at the ATH of $2,070. You may recall that I highlighted the daily timeframe’s price action in the Weekly Market Briefing, paying specific attention to a clear-cut…

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Daily Market Commentary
March 15, 2023 BY Steffy Bogdanova

Global Equity Markets Plummet; Major Support in Focus

Interestingly, we see a comparable picture on the CAC 40—the benchmark stock index from France—and the EU50, which is the Euro Stoxx 50 that houses the largest companies in Europe. The two charts are shown below. You will see that the CAC 40 displays a daily Quasimodo resistance-turned-support at 6,791 that is joined by RSI…

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