Today’s Analysis

23

May 2024
Forex Market Analysis: Gold, Euro, Nvidia Analysis

CURRENCIES Gold Forecast: Gold (XAU/USD) dropped sharply on Wednesday, holding above support at $2,375. Bulls need to defend this level to prevent a deeper retrenchment towards $2,360. Continued weakness could shift focus to $2,335, the 38.2% Fibonacci retracement of the …

21

May 2024
Forex Market Analysis: Fed Speech, UK CPI Impact

CURRENCIES EURO (EUR/USD, EUR/GBP) technical analysis: Fed speak to dominate today’s scheduled event risks (Williams, Waller) EUR/USD drifts lower in search of a catalyst EUR/GBP eyes support ahead of UK CPI print Fed Speak to Dominate Today’s Scheduled Risk Events: …

20

May 2024
Forex Market Analysis: Nvidia Earnings and its Impact

CURRENCIES Highlights from Last Week: U.S. Dollar Decline: The DXY index dropped significantly due to softer-than-expected consumer price index figures. This reignited optimism that the disinflationary trend, which began in late 2023 but had stalled, is back on track. Federal …

17

May 2024
Forex Market Analysis: Contrarian Views on EUR/USD & Gold

CURRENCIES Overview: EUR/USD fails to sustain bullish momentum, GBP/USD pauses after breakout. Introduction to Contrarian Trading: Herd mentality can dominate trading, but experienced traders often explore contrarian strategies. Contrarian trading involves recognizing when the majority sentiment may be incorrect and …

16

May 2024
Forex Market Analysis: Currencies Sentiment & Berkshire’s Strategic Moves

CURRENCIES GBP/USD: Current Sentiment: 56.68% of clients are bearish, with a short-to-long ratio of 1.31 to 1. Trend: Increase in net-short bets by 4.62% since yesterday and 33.04% from last week. Bullish bets decreased by 16.10% since yesterday and 36.14% …

15

May 2024
Forex Market Analysis: April CPI to Impact Fed’s Rate Decisions

CURRENCIES Upcoming Release The U.S. Bureau of Labor Statistics will release April’s consumer price index (CPI) data on Wednesday morning. This crucial economic report is closely tracked by market participants for its significance to the Federal Reserve’s monetary policy path. …

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