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 📕 Comment on  Gold  on April 29, 2022:   - In yesterday's trading session, after precious metal fell to 1871, Gold rallied strongly to 1896 ($25), closed the day session with a bull pusher and in the early morning of this day Gold continued to rise.  up to around 1905. With the current showing of good upward momentum, my view will be to prioritize the bullish option for this precious metal.  - On the H4 time frame, bullish force also prevails and the nearest support area for this precious metal is around 1895-1898, Here we can establish a buy position with a safe target around the threshold.  1910-1915.

  Weekly initial claims and continued claims were broadly in line with expectations according to the latest report.  The US dollar weakened as a result of weak US GDP data and ignored the latest jobless claims figures.  There were 180,000 initial claims in the US economy in the week ending on 23 April, in line with consensus estimates and a slight decline from last week's 185,000 reading which was revised up from 184,000, according to data released by the US Department of Labour on Thursday. That meant that the four-week average of initial claims rose to 179,750 from 177,500 a week prior.  Continued claims in the week ending on 16 April saw a slight fall to 1.408M from 1.409M a week prior, a little above the expected drop to 1.403M. The insured unemployment rate thus came in at 1.0% in the week ending on 16 April, unchanged from a week earlier.  Market Reaction FX markets did not react to the latest broadly as expected jobless claims report but rather reacted to...

  USD/ CHF jumped to a fresh YTD peak on Wednesday amid the prevalent USD buying interest. Bets for aggressive Fed rate hikes, a bleak global economic outlook continued boosting the USD. The risk-on impulse could undermine the safe-haven CHF and supports prospects for further gains. The USD/CHF pair retreated a few pips from its highest level since May 2020 touched during the first half of the European session and was last seen trading just below the mid-0.9600s. The pair prolonged its recent strong bullish run witnessed since the beginning of this month and gained follow-through traction for the fifth successive day on Wednesday. The momentum was sponsored by sustained buying around the US dollar, which climbed to a more than two-year peak amid the prospects for a more aggressive policy tightening by the Fed. Investors now expect the Fed to raise interest rates by 50 bps at each of its next four meetings in May, June, July and September. The bets were reaffirmed by the r...

  The latest candle on the four-hour  chart  closed below 1.0700. The Relative Strength Index (RSI) indicator on the same chart stays near 40 and the descending line coming from April 21 stays intact, highlighting EUR/USD's bearish bias in the near term.  It's worth noting that  EUR/ USD   will touch its weakest level since April 2017 with a drop below 1.0635. Sellers might see such a move as a profit-taking opportunity and trigger a correction in the pair. In that case, 1.0700 (psychological level) aligns as the next recovery target before 1.0730 (static level) and 1.0760 (static level). On the downside, a daily close below 1.0640 is likely to open the door for additional losses toward 1.0600 (psychological level) and 1.0570 (static level from March 2017).

  📕 Comment on  Gold  on April 25, 2022:  - Ending the last trading week, precious metal Gold closed with a bearish candle with quite strong force around 1931 and in the early morning of today Gold continued to decline to around 1921, the price turned around.  exactly the same as the starting point of the rally 2 weeks ago.  - Gold is currently in the support zone 1917-1920.  It is likely that Gold will recover slightly here after a fairly strong drop last week and in my opinion it is likely that Gold will recover to around the 1940 level here we need to wait and see a sell signal.  .  If Gold cannot recover and break through the 1917-1920 threshold, the possibility of this precious metal will slide down to 1900-1890.

  📕 Comment on Gold on April 22, 2022:  - After falling to 1935 in yesterday's session, precious metal Gold rebounded and closed the day's trading session with a bearish candle around the 1950 price. This is the 3rd day in a row that World Gold closes.  around this price.  In my personal opinion, the possibility that Gold in the beginning of today's trading session will still be supported around the 1940-1945 price zone.  - On the H4 chart, we can clearly see the precious metal's withdrawal signal around the upper price range so we can consider buying with a safe target around 1960 in today's session.

  Gold   maintains a slight upward bias in its broader sideways range. A break past the $2,070/75 highs would resolve the range higher for a fresh bull trend, strategists at Credit Suisse report. Break below $1,877 to reassert the broad sideways range “Gold above $1,877 can maintain an immediate upward bias in the broader sideways range.” “Only above the $2,070/75 highs though would be seen to resolve the range higher for a fresh bull trend, with resistance then seen at $2,280/2,300.” “A break below $1,877 can further reassert the broad sideways range with support then seen next at $1,845/31.”

  📕 Comment on  Gold  on April 20, 2022:  - In yesterday's trading session, precious metal Gold had one day of decline from 1981 to 1943 ($38), closing the day session with a strong bearish candle around 1949. Gold has returned.  back to the upper boundary of the previous sideways range.  With Gold approaching this support zone, I think it's likely that Gold will have a rebound in the early trading session today.  - On the H4 chart, Gold may recover to around the threshold of 1950-1951 and is expected to rise around the threshold of 1962-1965.  Here, there is a high possibility that Gold will face selling pressure and drop again.

  Ukrainian Negotiator Mykhailo Podolyak told Reuters on Tuesday that events in Mariupol have made the negotiation process with Russia "even more complicated" and said that it is hard to say when the next direct peace talks will be possible. Russia is "seriously betting" on the second stage of its "special operation", he continued, adding that Russia aims to strengthen its negotiation position through its offensive in eastern Ukraine.  Podolyak's remarks come after the unofficial start of the second phase of Russia's invasion of Ukraine began on Monday, with the country now focussing its attacking efforts in the east. Ukrainian officials on Monday said that  Russian forces tried to break through their defenses along the Donetsk, Luhansk and Kharkiv fronts. 

  Gold Price remains poised to recapture $2,000 amid a flight to safety. Elevated inflation, recession risks and the Russia-Ukraine war boost safe-haven appeal. The speech from Fed Chair Jerome Powell will keep investors busy this week. Easter Monday-induced thin market conditions are offering some extra zest to bulls, as Gold Price heads closer towards the $2,000 round level. The light trading seems to be exaggerating the moves in XAUUSD, as a 0.50% drop in the US stock futures reflects a risk-off market profile. Persistent Russian military actions in the Western Ukrainian city of Lviv and the Southern port city of Mariupol suggest that a peace agreement is nowhere in sight, fuelling anxiety. Meanwhile, the Ukraine crisis-led surging global inflation is prompting investors to seek refuge in the inflation-hedge Gold Price. Buyers ignore the notable strength in the US dollar alongside the Treasury yields, as a flight to safety makes the traditional store of value, gold, mo...

  A sheer upside after a double bottom formation has advocated a strong reversal. A loud move displayed by the RSI (14) is expressing a shift in the dominance. Pound bulls are offering a bargain buy to investors after a pullback at 20-EMA. The GBP/USD pair is facing corrective action after a juggernaut rally from Wednesday’s low at 1.2973. The cable has been corrected to a near 20-period Exponential Moving Average (EMA) and is providing an optimal opportunity for the   pound   investors to enter a firmer reversal. A double bottom formation on a four-hour scale seems lucrative for the cable bulls. The pair has displayed a sheer upside after retesting March’s lows at around the psychological support of 1.3000. The double bottom  chart   pattern signifies a bullish reversal amid the absence of high-volume sellers while r-testing the critical bottom. The trendline placed from March 3 high at 1.3418, adjoining the March 23 high at 1.3299 will continue to ac...

  EUR/USD fades the initial move north of 1.0900. Recent lows around 1.0800 emerge as the next contention area. EUR/USD  fades the pre-ECB uptick to the 1.0920 zone on Thursday. In light of the ongoing price action, extra losses in the pair remain in the pipeline in the short-term horizon. Against that, a break below the so far monthly low at 1.0808 (April 14 should pave the way for a quick visit to the 2022 low at 1.0805 (March 7) before the May 2020 low at 1.0766 (May 7). While below the 200-day SMA, today at 1.1440, the  outlook  for the pair is expected to remain negative.

  USD/CAD   has closed just above the important 200-day moving average (DMA) at 1.2623. However, economists at Credit Suisse give the downside the benefit of the doubt for now.  Bearish bias whilst below 1.2667 “USD/CAD has broken above its key 200-DMA, lessening conviction in our bearish outlook, but for now, we continue to give the downside the benefit of the doubt. Next key resistance is seen at 1.2653/67, which includes the 50% retracement of the 2021 fall and the 55-DMA.”  “We stay biased directly lower whilst below 1.2653/67, with a break below 1.2565 needed to reassert the downtrend for a move back to 1.2537/35 initially and then to 1.2481/79. Thereafter, a break below the YTD low at 1.2427/00 would trigger a move to our core objective at 1.2287, which is the October 2021 low.”  A break above the 55-DMA at 1.2667 would reassert the rangebound environment and likely trigger further short-term strength, with next resistance at 1.2712.”

   The euro   bounced after the French election but remains heavy near 1.09. Economists at BBH note that the EUR/USD pair may test the March 7 low near 1.0805. Run-off will be held between Macron and Le Pen “Macron got 28% of the vote vs. 24% for Le Pen in the first round. One early poll shows Macron winning 54-46% in the second round, while another one is a lot closer at 51-49%. We warn of the so-called Bradley effect, which suggests that the polls will likely understate Le Pen’s support. If polls tighten up ahead of the runoff, we expect markets to become more jittery.” “A break above 1.1050 is needed to signal a deeper correction towards the March 31 high near 1.1185.”  “A test of the March 7 low near 1.0805 is still in the cards.”

  NZD/USD witnessed selling for the third straight day and retreated further from the YTD high. The Fed’s hawkish outlook, elevated US bond yields underpinned the USD and exerted pressure. A positive risk tone might cap the safe-haven USD and limit losses for the perceived riskier kiwi. The  NZD/USD  pair continued losing ground through the mid-European session and dropped to over a three-week low, around mid-0.6800s in the last hour. The pair prolonged this week's sharp retracement slide from the 0.7035 region, or the highest level since November 2021 and witnessed some follow-through selling for the third successive day on Friday. The downward trajectory was exclusively sponsored by the blowout US dollar rally, bolstered by the Fed's hawkish outlook. In fact, the March 15-16 FOMC minutes released on Wednesday showed that policymakers were prepared to hike interest rates by 50 bps at upcoming meetings. Moreover, there was a general agreement about reducing the Fed's...

  📕 Comment on Gold on April 7, 2022:  - In yesterday's trading session, precious metal Gold fell from 1933 to 1915. Yesterday's closing session was around 1924. With Gold not having too many fluctuations in yesterday's session, our opinion  My personal preference remains the same as in recent days it is preferable to sell if Gold is in the 1930-1940 zone.  - On the D1 chart we can see that although yesterday closed with a bullish candle, in fact this candle did not show an increase, but instead, the increasing force seems to be weaker compared to the previous days.  The proof is that last night the highest price Gold recovered was around the threshold of 1932. So in today's session, I think it is possible to sell down with Gold around 1926-1930 with a safe target of 1915-1920.  and my expectation Gold will go even deeper.

  At 24h tonight, the Fed will publish the minutes of the FOMC's monetary policy meeting.  Federal Reserve Chairman Jerome Powell previously said that the Fed will set a limit on its balance sheet cuts at its March meeting. Additionally, Fed chief Brainard said the Fed could quickly shrink the board.  balance sheet since May, and it is expected that the shrinking pace of the balance sheet will be much faster than the previous recovery. Therefore, expect the minutes of tonight's monetary policy meeting.  basically digested.  Market focus remains on Ukraine and Russia situation and inflation expectations.  According to NBC News, the US and G7 will announce new sanctions against Russia on Wednesday.  New US sanctions against Russia will include a ban on new investments in Russia, increased sanctions on Russian financial institutions and state-owned enterprises, and measures  sanctions against Russian government officials and their family members

  Comment on Gold on 05/04/2022: - In yesterday's trading session, after falling to the 1915 price zone, precious metal Gold bounced up to 1936. Yesterday's session closed with a rising green candle, but this increase was insignificant and according to Gold will continue to move sideways in the range of 1938-1915. - My personal view in today's trading session is biased towards #sell . We can sell short at the upper edge of the 1930-1937 flat zone with a safe target around 1915-1920. Here we liquidate the order and wait for the signal. I will update later when there is a buying rhythm.

  GBP/USD is trading with a downside bias as the euro underperforms and 21DMA continues to act as a ceiling. A break lower to test last week’s 1.3050 lows looks on the cards, with bears also eyeing 1.3000 annual lows. Following hawkish Fed commentary over the weekend and ahead of possibly more this week, USD risks are tilted higher. In a relatively tame start to the week for currency markets, GBP/USD is trading with a downside bias and is currently threatening a downside break of the 1.3100 level. Sterling is likely weighed by underperformance in its cross-English Channel peer  the euro , which is underperforming ahead of the resumption of Russo-Ukraine peace talks later in the session and amid further chatter about a possible EU embargo on Russian energy imports. Commentary from BoE policymakers on Monday did not stray into the territory of monetary policy and thus hasn’t impacted cable, which probed last Friday’s lows in the 1.3080s earlier in the session and is eyeing a bre...

  Friday's  US economic docket  highlights the release of the closely-watched US monthly jobs data. The popularly known NFP report is scheduled for release at 12:30 GMT and is expected to show that the economy added 490K new jobs in March, down from the 678K reported in the previous month. The unemployment rate is expected to edge lower to 3.7% from 3.8% in February. Apart from this, investors will take cues from Average Hourly Earnings amid expectations for a more aggressive policy response to contain high inflation.  As Joseph Trevisani, Senior Analyst at FXStreet, explains: “It is becoming clear that the reconstitution of the labor market is not enough to prevent inflation from crippling the economic recovery. The crucial factor is consumer spending. About two-thirds of US economic activity can be directly traced to personal expenditures. The availability of jobs and the ability of workers to seek higher wages are the main supports for consumer spending.”