Gold Prices Surge Amid Middle East Tensions and Federal Reserve Caution
Gold (XAU/USD) maintained its upward trajectory, reaching an intraday high of $2,386 and stabilizing around $2,377, driven by rising concerns over the escalating conflict in the Middle East. This bullish momentum is further bolstered by the Federal Reserve’s cautious stance on inflation, with Chairman Jerome Powell emphasizing the need for stronger data before considering rate […]
EUR/USD Holds Strong as ECB Rate Decision Looms
The EUR/USD finished the week comfortably above the 1.08000 level, as market participants and speculators eagerly anticipate the European Central Bank’s (ECB) rate decision scheduled for Thursday. The currency pair tested a low of nearly 1.07860 on Thursday, but trading below the 1.0800 level was brief. By Friday, the EUR/USD showed resilience, testing the 1.08100 […]
How to trade AUDUSD ahead of the U.S. Consumer Price Index News
The Australian Dollar (AUD) rose against the U.S. Dollar (USD) last week, increasing the price of the AUDUSD pair to more than 0.7700, ahead of the release of U.S. Consumer Price Index news. Technical Analysis As of this writing, the AUDUSD pair affirms around 0.7774. While moving upward, the pair might face some resistance near […]
How to trade USDJPY Ahead of the U.S. ADP Employment Change News
The U.S. Dollar (USD) inched higher against the Japanese Yen (JPY) last week, increasing the price of the USDJPY pair to more than 108.00, ahead of the release of U.S. ADP Employment Change news. Technical Analysis As of this writing, the USDJPY pair affirms around 108.59. If the price keeps increasing, the pair might face […]
Trading USDCAD Ahead of U.S. Retail Sales Release News
The U.S. Dollar (USD) slid down against the Canadian Dollar (CAD) the week ended on April 11, 2021, decreasing the price of the USDCAD pair to less than 1.2600 ahead of the release of U.S. Retail Sales News. The technical bias remains bearish since the pair printed a lower low in the recent downside move. […]
Trading Cable ahead of US Services PMI News
The Great Britain Pound (GBP) rose against the U.S. Dollar (USD) last week, increasing the price of the GBPUSD pair to more than 1.3800 ahead of the release of U.S. ISM Services PMI news. The technical bias remains bullish because the cable printed a higher high in the recent upside move. Technical Analysis As of […]