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Since the start of trading this week, the price of the GBP/USD has been experiencing a downward correction with losses that extended to the level of 1.2577. clearly, that’s before stabilizing around the level of 1.2595 at the time of writing the analysis. Last week’s gains reached the resistance level of 1.2732, its highest level

GBPUSD finds strong resistance near 200-week EMA Technical signals are negative Will 2024 be a negative year for the pair? With the year 2023 drawing to a close, GBPUSD could not carry the impressive rally of the last three weeks above the bullish crossover within the 50- and the 100-week simple moving averages (SMAs) and the 23.6% Fibonacci retracement

Gold reversed from multi-year resistance level 2065.00 Likely to fall to support level 1.7000 Gold recently reversed down from the major multi-year resistance level 2065.00, which has been reversing the price from the middle of 2020, as can be seen below. The resistance level 2065.00 was strengthened by the upper daily and the weekly Bollinger

This is a guest post by Rania Gule, Market Analyst at XS.com Crude oil is being traded at around $73.00 during Tuesday’s sessions following disappointing results from the OPEC+ meeting. The internal division among oil-producing nations was significant, and the outcome did not align with market expectations for boosting oil prices. Meanwhile, the United States

US DOLLAR FORECAST – USD/JPY, GBP/USD, AUD/USD The U.S. dollar extends its advance despite the pullback in U.S. Treasury yields Attention will be on the November U.S. employment report later this week This article focuses on the technical outlook for USD/JPY, GBP/USD and AUD/USD, taking into account recent price action as well as prevailing market

U.S economic data via Factory Orders statistics was negative yesterday. Today the ISM Services PMI numbers will be published, but it is Friday’s jobs numbers which will come from the States which traders may be anticipating.  The USD/SGD has risen in value since last Wednesday. After touching a low near 1.32845 on the 29th of

XAU/USD remains bearish if it stays below the 50% retracement level. The 61.8% and the median line represent key support levels. The US data could have a big impact today. The gold price registered a 6% drop from the freshly marked all-time highs in the last trading session. The precious metal is trading at $2,033

China’s Caixin PMI Services rose from 50.4 to 51.5 in November, above expectation of 50.8. PMI Composite rose from 50.0 to 51.6. Wang Zhe, Senior Economist at Caixin Insight Group said: “Overall, the macroeconomy showed signs of a positive recovery, with steady growth in consumer spending, solid progress in industrial production and improved market expectations.

After nearly two years at Tavira Securities as Head of Product Development, industry veteran Andrew Gibson is launching a new FX brokerage business based out of Cyprus. Operating under the brand name ‘Timberfx,’ Andrew is also assuming the role of Chief Executive Officer, he shared on his Linkedin profile. He ended a relatively short stint

US DOLLAR FORECAST – USD/JPY AND AUD/USD The U.S. dollar gains as U.S. yields mount a solid comeback USD/JPY bounces off trendline support, reclaiming the 147.00 handle Meanwhile, AUD/USD turns lower after failing to take out overhead resistance Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the