Gold spot Intraday: The bias remains bullish
Our preference: Long positions above 1705.00 with targets at 1723.00 & 1730.00 in extension.
Alternative scenario: Below 1705.00 look for further downside with 1697.00 & 1690.00 as targets. Read more...
XAU/USD Analysis: Trades near upper pattern line
On Wednesday, the XAU/USD exchange rate reversed north from the lower boundary of the ascending triangle pattern. During today's morning, the rate was trading near the upper pattern line at 1,722.00.
From a theoretical perspective, it is likely that a reversal south could occur in the nearest future. Meanwhile, it is unlikely that a breakout from the pattern could occur due to the support formed by the 55-, 100– and 200-hour SMAs in the 1,705.00 area. Read more...
Gold Price Analysis: Upside remains capped by $1720 ahead of US Jobless Claims
Gold prices (XAU/USD) are off the highs and consolidate the latest uptick to near 1720 levels, as the bulls take a breather ahead of the critical US Jobless Claims data slated for release at 1230 GMT.
The safe-haven demand for the greenback extends into Thursday, as the risk sentiment sours on intensifying global recession fears, in the face of the coronavirus pandemic. The US dollar index trades better bid near two-day highs of 100.36. Therefore, the upside attempts in the yellow metal remain in check. Read more...
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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.
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