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Gold reversed from key support level 2550.00 Likely to rise to resistance level 2650.00 Gold recently reversed up from the support zone located between the key support level 2550.00 (which also reversed the price in the middle of September), standing close to the lower daily Bollinger Band and the 50% Fibonacci correction of the upward […]

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Elliott Wave View Looking Further Downside in EURUSD

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14/08/2024

Gold Aims for Critical Upside Break, US CPI Next

Key Highlights Gold is attempting a fresh increase above the $2,440 support zone. A major bullish trend line is forming with support at $2,400 on the 4-hour chart. Oil prices extended gains and climbed above the $77.50 resistance. The US Consumer Price Index could increase by 2.9% in July 2024 (YoY), down from +3%. Gold […]
02/12/2023

Gold Remains Trapped Below 2,050

Gold flatlines near former resistance Short-term bias leans to the downside Key support levels hold intact Gold shifted to the sidelines following the advance towards its May 2023 resistance of 2,051 on Wednesday. The 20-period simple moving average (SMA), which has been cooling downside pressures recently, seems to be cracking at 2,038, but the support trendline drawn from […]
09/07/2024

U.K.: Firming Growth, Lingering Inflation, Suggest Cautious Bank Of England

Summary The first half of 2024 has seen a gradual, but clearly perceptible, improvement in U.K. economic momentum. Q1 GDP rose 0.7% quarter-over-quarter, while more recent sentiment and activity data point to ongoing growth in Q2. The outlook for the U.K. consumer continues to improve, although the outlook for U.K. businesses is perhaps not quite […]