JohnHarry66

JohnHarry66 Updated 

Gold struggles to prolong its bounce, fluctuating at around $3,370 per troy ounce on Tuesday. XAU/USD's upside remains capped on the back of decent gains in the US Dollar and a modest rebound in US yields across various maturity periods. From a technical perspective, Friday's breakout through the $3,335 horizontal barrier and a subsequent strength beyond the...

JohnHarry66 Updated 

The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 50 and GBP/USD remains within the one-month-old descending regression channel, suggesting that the bearish bias remains intact following Friday's rebound. On the downside, the 20-period Simple Moving Average (SMA) aligns as interim support at 1.3250 ahead of 1.3200 (static level, round...

JohnHarry66

In the meantime, weakness below the 100-period SMA on the 4-hour chart, currently pegged near the $3,340-3,338 area, could attract fresh buyers near the $3,322-3,320 region. This, in turn, should help limit the downside for the Gold price near the $3,300 mark. The latter should act as a pivotal point, which, if broken, might shift the bias in favor of the XAU/USD...

JohnHarry66

The daily chart for the EUR/USD pair shows the pair met buyers just ahead of a bullish 100 Simple Moving Average (SMA) currently at around 1.1370. A flat 20 SMA, in the meantime, provides resistance at around 1.1640, the level to overcome to turn bullish. Finally, technical indicators corrected oversold conditions, but lost their upward strength just below their...

JohnHarry66

The Canadian Dollar holds gains as US recovery attempts remain limited. Concerns about the strength of the US economy and rising bets of Fed cuts keep the US Dollar pinned near lows. In Canada, IVEY PMI and employment figures due later this week will give fundamental guidance to the CAD.

JohnHarry66

The AUD/USD pair is trading around 0.6480 on Monday. Technical analysis on the daily chart suggests a bearish bias, with the 14-day Relative Strength Index (RSI) holding below the 50 level. The pair is also positioned below the nine-day Exponential Moving Average (EMA), signaling weakening short-term momentum. On the downside, the AUD/USD pair could find the...

JohnHarry66 Updated 

Meanwhile, the US Dollar (USD) prolongs its recent strong uptrend and advances to the highest level since late May in the wake of the Federal Reserve's (Fed) hawkish stance. In fact, comments from Fed Chair Jerome Powell on Wednesday forced investors to scale back their bets for a rate cut in September. This continues to act as a tailwind for the USD and caps the...

JohnHarry66 Updated 

On the downside, 1.3100 (round level, static level) could be seen as the next support before 1.3030 (static level). Looking north, resistance levels could be seen at 1.3200 (static level, round level), 1.3230 (static level) and 1.3275 (20-period Simple Moving Average). The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 20 and GBP/USD...

JohnHarry66

EUR/USD gathers bullish momentum and trades above 1.1550 on Friday. The US Dollar (USD) remains under strong selling pressure following the disappointing employment and ISM Manufacturing PMI data for July, fuelling the pair's rally heading into the weekend.

JohnHarry66 Updated 

The overnight swing high, around the $3,314-3,315 region, could act as an immediate hurdle for the Gold price. A sustained move above the latter could trigger a short-covering rally and lift the XAU/USD pair beyond the $3,325-3,326 horizontal barrier, towards the next relevant hurdle near the $3,360-3,365 region. Some follow-through buying should pave the way for...

JohnHarry66 Updated 

Gold is now struggling to extend its rebound further north of the $3,300 mark per troy ounce on Thursday. The precious metal maintain its bullish bias in tandem with declining US yields across the spectrum and some tepid losses in the Greenback. Xauusd buy 3301 Support 3315 Support 3325

JohnHarry66

EUR/USD managed to reverse a multi-day negative streak, clocking decent gains and revisiting the 1.1460 zone on Thursday. The pair’s recovery came despite the Greenback advanced marginally, extending its rally to new two-month peaks following renewed trade effervescence and investors’ assessment of the latest Fed gathering.

JohnHarry66

The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 30 after the short-lasting recovery attempt, suggesting that GBP/USD remains technically oversold. On the upside, 1.3300 (Fibonacci 78.6% retracement of the latest uptrend) aligns as the first resistance level before 1.3330 (static level) and 1.3400 (Fibonacci 61.8% retracement). Looking...

JohnHarry66 Updated 

Bitcoin price has been consolidating within the $116,000-$120,000 range for 16 days. Whale wallets continue their buying spree and OTC balance reaches record lows. JPMorgan and Coinbase sign a deal to link customers’ bank accounts to their crypto wallets directly.

JohnHarry66 Updated 

Gold’s downside momentum now gathers pace and sends the yellow metal to the $3,320 zone midweek, while traders assess the latest US data and gear up for the Federal Reserve’s interest rate decision later in the day. Xauusd buy 3301 Support 3323 Support 3353

JohnHarry66

The GBP/JPY pair indicates how many Japanese Yen (JPY) are required to purchase one British Pound (GBP). It is often referred to as a “carry currency cross”, meaning it is commonly used as a vehicle for carry trading, a popular trading strategy. A carry trade involves selling or borrowing an asset with a low interest rate to invest in another asset with a higher...

JohnHarry66

To reclaim lost ground, EUR/USD must clear its 2025 high of 1.1830 (July 1) and then eye the September 2021 peak of 1.1909 (September 3), with the symbolic 1.2000 level looming beyond. On the flip side, near‑term support holds at the July base of 1.1425 (July 30), followed by the weekly trough at 1.1445 (June 19) and the interim 100‑day SMA at 1.1350. Momentum...

JohnHarry66 Updated 

From a technical perspective, the recent breakdown below the 100-period Simple Moving Average (SMA) on the 4-hour chart was seen as a key trigger for the XAU/USD bears. Moreover, negative oscillators on the said chart suggest that any subsequent move up might still be seen as a selling opportunity and remain capped. However, a modest bounce from the $3,300...