XAU/USD: A Trend-Follower’s Market
- Daily Analysis, Daily Report, Recent Posts, Technical Analysis, Trending Now
- April 25, 2024
The US Dollar Index is poised to close out the month of May 2.8% higher, reclaiming all the prior month’s downside and a large portion of the 2.3% drop in March. Needless to say, it’s been a positive month for the greenback, which is likely to continue into June, according to chart studies. Leaving support
READ MOREMarket technician’s view of charts that affect equities: With an agreement now placed on the US debt limit going into this week, the challenge for traders will be ascertaining if this is already priced. This week, the Australian Index set a bullish key reversal pattern last Friday. Further concerns still remain around the US regional
READ MOREThe FP Markets research team produce First Light News during the early hours of the European session, ensuring traders and investors are up to date in the FX space for the day ahead. Good morning. Printing a fourth consecutive day in the green on Thursday, the US Dollar Index clocked highs of 104.31, levels not
READ MOREOPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract is expected to open down 3 points.
READ MOREAs the US dollar continues to find grip at higher levels—underpinned by a rally in US government yields—the price of spot gold (XAU/USD) is in relatively deep water. Higher-Timeframe Picture Shows Gold Approaching Support Medium-term price action on the daily chart exhibits scope to extend losses. The longer-term ascending channel is interesting (drawn from $1,641
READ MOREYour weekly review of technical patterns and structure. The research team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: NZD/USD Challenging Support Daily Timeframe – Following the RBNZ signalling a pause in policy firming, the NZD/USD currency pair tumbled more than 2.0% yesterday and landed price at support from $0.6088
READ MOREThe FP Markets research team produce First Light News during the early hours of the European session, ensuring traders and investors are up to date in the FX space for the day ahead. Good morning. It was quite a session on Wednesday. I noted in the previous release that the Reserve Bank of New Zealand
READ MOREOPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract is expected to open down 3 points.
READ MOREFor those who read the previous technical view I posted on the GBP/USD currency pair, price action has indeed continued to pursue lower levels. Short-Term Price Action Sub $1.24 Despite efforts to shape support from the $1.24 region, recent hours witnessed price elbow beneath the psychological level. This followed a near-pip-perfect H1 AB=CD harmonic bearish
READ MOREThe FP Markets research team produce First Light News during the early hours of the European session, ensuring traders and investors are up to date in the FX space for the day ahead. Good morning. RBNZ Hikes Rates As expected, the early hours of trading on Wednesday witnessed the Reserve Bank of New Zealand (RBNZ)
READ MOREThe FP Markets research team produce First Light News during the early hours of the European session, ensuring traders and investors are up to date in the FX space for the day ahead. Good morning. Monday concluded tentatively for much of the FX space. The US dollar finished around the lower edge of Friday’s range
READ MOREOPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract is expected to open down 3 points.
READ MORE