Spot Gold - Gold continues to look weak
Gold continues to look weak and we are watching the near-term resistance level up near 1105.00 as a potential sell-level if price rotates up to it and a 1 hour, 4 hour or daily chart price action sell signal forms near that level. If price rallies higher and manages to move significantly above 1105.00, we will wait and look to be sellers from up near the key resistance level around 1150.00.
GBPUSD - Sterling/dollar remains buoyant
We remain bullish biased on the GBPUSD and we will consider a long entry if price rotates down to 1.5500 - 1.5525 near-term support and forms a price action buy signal on the 1 hour, 4 hour or daily chart time frame. This is in-line with the weekly chart uptrend in this pair.
Post by Nial Fuller, founder of LearnToTradeTheMarket.com
Gold continues to look weak and we are watching the near-term resistance level up near 1105.00 as a potential sell-level if price rotates up to it and a 1 hour, 4 hour or daily chart price action sell signal forms near that level. If price rallies higher and manages to move significantly above 1105.00, we will wait and look to be sellers from up near the key resistance level around 1150.00.
GBPUSD - Sterling/dollar remains buoyant
We remain bullish biased on the GBPUSD and we will consider a long entry if price rotates down to 1.5500 - 1.5525 near-term support and forms a price action buy signal on the 1 hour, 4 hour or daily chart time frame. This is in-line with the weekly chart uptrend in this pair.
Post by Nial Fuller, founder of LearnToTradeTheMarket.com
Recommended Content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.