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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.”