Technical Analysis

02 August 2024

Gold Prices Surge Amid Economic Uncertainty and Geopolitical Tensions, Nearing Record Highs

Gold Prices SurgeAs of August 2, 2024, spot gold prices have surged to $2,463.48 per ounce, approaching the historic high of $2,483.60 set in July. Th...

01 August 2024

Sterling Holds Steady Amid Yen Hike and Fed Hold; Focus Shifts to BoE Decision

GBP/USD drifted higher post-Fed, trading up 0.14% at 1.2858 within Wednesday's range of 1.2860-1.2820. The Federal Reserve held rates as expected, cau...

31 July 2024

USD/JPY and JPY Crosses Seek Direction Post-BOJ Hike

USD/JPY and JPY Crosses Seek Direction Post-BOJ HikeThe market remains uncertain about the direction of USD/JPY and JPY crosses following the Bank of...

30 July 2024

Gold Price (XAU/USD) Attracts Dip-Buying Amid Softer Risk Tone and Geopolitical Risks

The Gold price (XAU/USD) saw some dip-buying during the Asian session on Tuesday but remained within the previous day's broader trading range and belo...

29 July 2024

EUR/USD Rallies on Fed Rate Cut Expectations Amid Mixed U.S. Data

EUR/USD rallied on Friday and may remain elevated as investor expectations for Fed rate cuts were reinforced by the latest round of U.S. data. The mon...

26 July 2024

EUR/USD Rallies Amid Consolidation Ahead of U.S. PCE Data

EUR/USD rallied on Thursday, though the manner of trading suggests consolidation is taking place. This may leave investors reliant on the upcoming Jun...

25 July 2024

Yen Rallies Amid Carry Trade Unwind and Rising BoJ Rate Hike Odds

The ongoing purge in carry trades continues to benefit low-yielding currencies, particularly the yen and the Swiss franc. USD/JPY broke below the key...

24 July 2024

GBP/USD Holds Above 1.29 Amid BoE and Fed Guidance Anticipation, Yen Dynamics Influence

GBP/USD downside is likely to be limited after bears failed to hold a break below 1.29 on Tuesday. However, advancing back toward the 2024 highs hit e...

23 July 2024

Yen Rallies Ahead of BoJ Meeting; USD/JPY Stuck in Range as Market Awaits Clear Signals

The yen rose on Monday, but its rallies ahead of the Bank of Japan's (BoJ) July 31 policy meeting may remain fragile until the forex market receives c...

22 July 2024

EUR/USD Drifts Lower Amid US Dollar Strength, Market Prepares for Key Data Releases

As the weekend approached, EUR/USD was under pressure, with New York opening near 1.0885 after trading between 1.09017 and 1.08760 overnight. An early...