GBPUSD finds strong support in 1.2480 region But upside momentum struggles to take off GBPUSD has managed to hold above the 1.2500 mark this week following last week’s post-Fed tumble that pulled the pair to the lowest since May, hitting 1.2474. The slide reinforced the medium-term downtrend line as a strong resistance wall, but now […]

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WTI Oil continues to trade sideways, but bias is bearish Price remains constrained between key resistance and support levels WTI Oil (Cash) is headed for a fifth straight day of declines, slipping below 69.00 and widening the gap with the Ichimoku cloud. The technical indicators are bearish, but to a varying extent. The stochastic oscillator […]

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USDCHF remains in bullish bias RSI suggest overstretched market USDCHF has added more than 7% since the end of September, sending the price to a new five-month high of 0.9020. However, the pair is currently losing some ground but remains above the 0.8955 key level. From a technical standpoint, the MACD oscillator is still extending […]

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Gold rises above 2,600 again RSI and stochastics suggest more upside moves Gold prices are recouping some significant losses that were posted after the Fed’s policy decision on Wednesday to cut rates by 25 bps. The market tumbled to a new one-month low of 2,582 but is currently holding above 2,600. The technical oscillators are […]

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GBPUSD shows some recovery after three-week low Technical signals reflect persisting selling interest BoE rate decision next in focus at 12:00 GMT GBPUSD is trying to heal its wounds after taking a hit from the Fed’s hawkish rate cut, which squeezed the price to a three-week low of 1.2560 and back below the 20-day simple […]

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EURGBP retreats after hitting resistance at 0.8325 Broader downtrend remains intact, but momentum weakens Break below 0.8225 could confirm trend continuation Rebound above 0.8450 may signal bullish trend reversal EURGBP traded lower this week, after hitting resistance near the key territory of 0.8325. Overall, the pair is trading below all three of the plotted moving […]

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AUDUSD extends downtrend to a more-than-a-year low A pause is likely, but negative trend could stay in play FOMC policy announcement due at 19:00 GMT AUDUSD is caught in a relentless downtrend, plunging to a 14-month low of 0.6308 on Wednesday following the close below the long-term support trendline from October 2022. As global markets […]

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USDJPY is trading sideways as the yen shows some signs of life Market participants are preparing for central bank meetings Momentum indicators are mostly bullish at this stage USDJPY is trading sideways today, following Tuesday’s red candle, which was the first negative session for this pair after six consecutive green candles that pushed it towards […]

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Fed is widely expected to cut rates by 25 bps on Wednesday But updated dot plot may signal fewer cuts in 2025 Can the dollar extend its rebound or is a correction due? Powell’s press conference at 19:30 GMT could hold the key Rate cut bets have been pared back The US Federal Reserve meets […]

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BoJ may leave rates unchanged in December’s meeting Next rate hike may not come until March Policy decision is due on Thursday at 03:00 GMT Yen weakness continues Market consensus overwhelmingly for steady rates The Bank of Japan (BOJ) is anticipated to keep its interest rate steady at 0.25% during its upcoming two-day meeting on December 18-19, the last one […]

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EURJPY erases some gains Stochastic and RSI head down EURJPY has found strong resistance near the 38.2% Fibonacci retracement level of the down leg from 175.37 to 154.40 at 162.30, which overlaps with the 50-day simple moving average (SMA). A downside movement may drive traders towards the 20-day SMA at 159.90 ahead of the 23.6% […]

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USDCAD unlocks new 4-year high, poised for further gains Caution required as overbought signals detected US retail sales, Canadian CPI due at 13:30 GMT USDCAD has been performing exceptionally well after forcefully breaking a symmetrical triangle on the upside. The pair unlocked a four-and-a-half year high of 1.4279 earlier today, continuing to press toward the […]

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Australia’s economic rollercoaster; Aussie in new negative paths New Zealand’s challenging year; Kiwi may dive further Canada’s economic rebound; Loonie unlocks new lows AUDUSD: Bearish sentiment starts in 2024 Australia’s economy demonstrated a mixed performance this year. The RBA maintained the cash rate at 4.35% to combat persistent underlying inflation, which remained around 3.5%. Economic growth was […]

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EURUSD holds within tight range in near term MACD and RSI were below their mid-levels EURUSD had another pullback off the lower boundary of the short-term trading range within 1.0450–1.0600, but the 20-day simple moving average (SMA) seems to be a tough obstacle to surpass. Technically, the RSI indicator is pointing upwards below the neutral […]

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Gold falls below $2,700 after double top Maintains neutrality within $2,540-$2,720 Gold came under renewed selling pressure after the bulls ran out of fuel marginally above the previous lower high of $2,721, unable to initiate a clear bullish reversal. Volatility was low during Monday’s early European trading hours, with the price being squeezed between the 20-day […]

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EURUSD: No light at the end of the tunnel  EURUSD is down by 4.78% year-to-date and has been stuck in a range since the ECB signaled the end of its rate hike cycle more than a year ago. Despite a boost from a dovish Fed, the euro has struggled due to the ECB’s rate cut policy, […]

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Fed seen cutting in December, pausing in January BoJ leans towards keeping rates steady BoE seen ending 2025 on the sidelines as well Flash PMIs, UK and Canada CPIs, and core PCE also on tap Fed seen taking the sidelines in January Following the RBA, the BoC, the SNB and the ECB, the central bank […]

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USDCHF bounces back, dismisses bearish risks below 0.8800 Bulls take control, aim for new higher highs USDCHF staged an impressive rebound after falling as low as 0.8733, an action which initially seemed like the completion of a bearish head and shoulders pattern below the 200-day simple moving average and the 0.8800 number. Now back in […]

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NZDUSD continues the strong selling interest Stochastic and RSI keep moving south NZDUSD plunged to a fresh lower low, recording a 26-month low at 0.5756. The pair is endorsing the steep descending tendency that started on September 30 with the technical oscillators confirming the negative momentum. The stochastic is standing in the oversold area, while […]

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Gold has added almost 30% during 2024 Fed policy could continue to impact the precious metal in 2025 Geopolitical tensions tend to drive the safe haven higher 2025 could be another bright year for gold A spectacular year for the precious metal It’s been  a phenomenal year for gold, with prices rising by almost 30% and hitting numerous new all-time highs. Geopolitical uncertainties and the US presidential elections drove prices to a peak […]

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