TECHNICAL ANALYSIS ON GBPUSD 23TH SEPTEMBER 2022

September 23, 2022 Uncategorized by Sylvie Wilson

The asset has fallen below 1.1250 on an hourly basis and is now tumbling toward 1.1210. The horizontal resistance line drawn from the low on September 16 at 1.1351 has served as a significant roadblock for the pound. Additionally, the downward-sloping trend line drawn from the high of 1.1738 on September 13 has prevented the
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Gold is aiming for $1,645 as the 75 bps rate hike by the Fed – 21th September 2022

September 21, 2022 Uncategorized by Sylvie Wilson

Gold is aiming for $1,645 as the 75 bps rate hike by the Fed seems factored in. Looking ahead, despite the anticipated 75 bps hike, the Fed’s prediction of the terminal rate will still control the next leg of the gold price’s decline. As bulls and bears struggle ahead of the crucial Fed policy announcement,
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TECHNICAL ANALYSIS ON GOLD 20TH SEPTEMBER 2022

September 20, 2022 Uncategorized by Sylvie Wilson

Since last Friday, when gold prices reached a two-year low, they have been moving within an ascending triangle shape. The top limit of the triangle, which is positioned at $1,680, is being tested by the bulls. For a triangle breakout to be confirmed, they need a four-hourly candlestick close above the latter. The $1,692 level
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TECHNICAL ANALYSIS ON GOLD 19TH SEPTEMBER 2022

September 19, 2022 Uncategorized by Sylvie Wilson

The downturn could resume in the very near future as Friday’s positive attempt in gold prices was supported by declining open interest and volume. The 14-day Relative Strength Index (RSI) is still lurking below the midline, and the negative bias is still very much in force amid an inverted cup and handle configuration. Under the
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TECHNICAL ANALYSIS OF GOLD 16TH SEPTEMBER 2022

September 16, 2022 Uncategorized by Sylvie Wilson

The US dollar and yields are rising on expectations of a large Fed rate hike. Gold’s path of least resistance appears to be down, with eyes on $1,758 and $1,751. The Technical Confluence Detector shows that the gold price is looking for a sustained move below the previous day’s low of $1,660. Selling pressure will
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TECHNICAL ANALYSIS ON GOLD 15TH SEPTEMBER 2022

September 15, 2022 Uncategorized by Sylvie Wilson

The low this year near $1,680 and the 61.8% Fibonacci Expansion of the gold’s moves between mid-August and September, around $1,660, will attract the gold bear’s attention. It should be noted that the gold weakness past $1,660 may be challenged by the likely oversold RSI around that time. If not, then the metal’s slump towards the
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TECHNICAL VIEW ON EURUSD 14 SEPTEMBER 2022

September 14, 2022 Uncategorized by Sylvie Wilson

The EUR/USD pair has traded around 0.9960 in the Asian session after falling from a high of around 1.0180. The asset witnessed an intense sell-off after surrendering the critical support of 1.0100 after the release of surprisingly higher-than-expected US inflation data. In the Asian session, the bulls have attempted a rebound but seem short-lived and
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TECHNICAL VIEW ON GOLD 13 SEPTEMBER 2022

September 13, 2022 Uncategorized by Sylvie Wilson

Gold started the week on a firm footing on Monday and hit the highest level in nine days at $1,735.17, having crossed the $1,730-$1,734 supply zone. Following the confirmation of a falling channel breakout on Friday, the gold price extended its gains until it hit the bearish 21-Daily Moving Average at $1,735 the day before.
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TECHNICAL VIEW ON GOLD 12 SEPTEMBER 2022 MONDAY

September 12, 2022 Uncategorized by Sylvie Wilson

The US Bureau of Labor Statistics will release the Consumer Price Index (CPI) data for August on Tuesday. FOMC policymakers refrained from confirming a 75 bps rate hike in September, and a soft inflation report could cause the probability of a 50 bps rate increase to rise. In that scenario, US T-bond yields are likely
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TECHNICAL VIEW ON INDICES 12 SEPTEMBER 2022 MONDAY

September 12, 2022 Uncategorized by Sylvie Wilson

Ahead in the week, investors will be closely monitoring August’s consumer price index print, with annual inflation expected to slow to 8.1% from 8.5%, while inflation may fall by 0.1% for the first time since May 2020. Initial resistance at the February lows of 32272 is backed by the 61.8% retracement of the August decline
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