Bulls in charge to the 61.8% Fibo

Bulls in charge to the 61.8% Fibo

2021-08-15

  Gold prices have recovered a significant portion of the daily drop. Traders will be watching US data and the FOMC Minutes for the week ahead. XAU/USD is trading at $1,779.16 and flat after Friday’s price action. Gold took advantage of a drop in the US dollar on Friday followingRead More →

Will the SPY keep going up or will CPI hit?

Will the SPY keep going up or will CPI hit?

2021-08-11

  SPY continues to frustrate the herd expecting a pullback. SPY shorts are beginning to cover in the latest Commitment of Traders report. SPY looks technically overbought but this can continue. The S&P ETF, SPY, continues to confound many seasoned commentators looking for a late summer sell-off. The market byRead More →

Remains vulnerable to slide further

Remains vulnerable to slide further

2021-07-21

  A modest USD profit-taking assisted GBP/USD to reverse an intraday dip to sub-1.3600 levels. Acceptance below 200-day SMA might have already set the stage for a further near-term decline. Any attempted recovery move is more likely to remain capped near the 1.3700 round-figure mark. The GBP/USD pair once againRead More →

XAU/USD To Gain on Dovish Fed Speeches

XAU/USD To Gain on Dovish Fed Speeches

2021-06-22

  Key Talking Points: Gold acts as a hedge for central bank inaction XAU/USD nearing key area of support Gold (XAU/USD) has been unable to hold bullish momentum going into Tuesday’s session after recovering from the worst drop since August 2020 last week. The Fed’s acknowledgment regarding inflationary pressures hasRead More →

How Central Banks Impact the Forex Market

How Central Banks Impact the Forex Market

2021-06-14

  The role of central banks in the forex market Central banks are mainly responsible for maintaining inflation in the interest of sustainable economic growth while contributing to the overall stability of the financial system. When central banks deem it necessary they will intervene in financial markets in line withRead More →

Demystifying the Top Cryptocurrency Jargon

Demystifying the Top Cryptocurrency Jargon

2021-06-08

  Cryptocurrency investing can be daunting for many potential investors with complex systems and theory unfamiliar to many. The language employed by the cryptocurrency community is just as terrifying with words seemingly plucked out of thin air. The list below highlights the latest terms used within the cryptocurrency space thatRead More →

The first central bank-backed digital currency

The first central bank-backed digital currency

2021-06-03

  In the digital era, popular trends spread like wildfire and the blockchain-enabled digital currency mania appears to be reaching critical mass. At some point in the near future, the People’s Republic of China (PBOC) will be launching a new “digital yuan”—basically an online version of its existing currency (i.e.Read More →

Dollar on tenterhooks as payrolls test looms By Reuters

Dollar on tenterhooks as payrolls test looms By Reuters

2021-06-03

  © Reuters. FILE PHOTO: A picture illustration shows U.S. 100-dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo By Tom Westbrook SINGAPORE (Reuters) – The U.S. dollar wobbled above major support levels on Thursday, as traders awaited a batch of U.S. economic data that could setRead More →

GBP/USD renews multi-month highs above 1.4150

GBP/USD renews multi-month highs above 1.4150

2021-05-10

  GBP/USD touched its highest level since late February at 1.4158. US Dollar Index stays in the negative territory on Monday. Focus shifts to first-quarter GDP report from the UK on Wednesday. The GBP/USD pair registered strong gains in the second half of the previous week and preserved its bullishRead More →

Dollar edges up before U.S. inflation data By Reuters

Dollar edges up before U.S. inflation data By Reuters

2021-04-13

  © Reuters. FILE PHOTO: FILE PHOTO: Sheets of Lincoln five dollar bill are seen through magnifying glass at Bureau of Engraving and Printing in Washington By Elizabeth Howcroft LONDON (Reuters) – The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, while riskier currencies dipped,Read More →