JohnHarry66

JohnHarry66 Updated 

From a technical perspective, this week's breakout through the $3,368-3,370 horizontal barrier and a subsequent move beyond the $3,400 mark on Tuesday was seen as a key trigger for bullish traders. Moreover, oscillators on the daily chart are holding comfortably in the positive territory and are still away from being in the oversold zone. Hence, any further...

JohnHarry66

EUR/USD pulls back from two-week highs of 1.1761 reached on Tuesday, approaching 1.1700 in the early European hours on Wednesday. The pair loses ground as the US Dollar finds demand on trade optimism. US President Trump announced a trade deal with Japan that includes 15% tariffs on Japanese imports.

JohnHarry66

The Relative Strength Index (RSI) indicator on the 4-hour chart stays above 60 and GBP/USD holds comfortably above the 20-period and the 50-period Simple Moving Averages (SMA), reflecting a bullish stance. On the upside, 1.3500 (static level, round level) aligns as the immediate resistance level before 1.3540 (Fibonacci 38.2% retracement of the latest uptrend)...

JohnHarry66

Gold price (XAU/USD) is trading around $3,390 per troy ounce on Tuesday. Technical analysis of the daily chart suggests that the metal price consolidates within an ascending channel pattern, suggesting a prevailing bullish bias. Additionally, the 14-day Relative Strength Index (RSI) stays above 50, reinforcing a bullish outlook. The XAU/USD could approach the...

JohnHarry66

From a technical point of view, the daily chart for the EUR/USD pair shows it is up for a second consecutive day, while still developing below a flat 20 Simple Moving Average (SMA), which stands directionless at around 1.1700. The 100 SMA, in the meantime, keeps advancing far below the current level, aligned with the dominant bullish trend. Finally, technical...

JohnHarry66 Updated 

Gold price is holding comfortably above all major Simple Moving Averages (SMA) while the 14-day Relative Strength Index (RSI) points higher above the midline. The technical setup, therefore, appears in favor of Gold buyers, with the immediate resistance located at the 23.6% Fibonacci Retracement (Fibo) level of the April record rally at $3377. Further north, the...

JohnHarry66 Updated 

From a technical perspective, the recent range-bound price action witnessed since the beginning of this month constitutes the formation of a rectangle chart pattern and points to indecision among traders. Moreover, neutral oscillators on the daily chart warrant some caution before positioning for the next leg of a directional move. Hence, any further slide might...

JohnHarry66

Bitcoin (BTC) posted a strong performance this week, hitting a new all-time high of $123,218 to start the week before consolidating around $118,000 as of Friday. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin Exchange Traded Funds (ETFs) recording a total of $2.02 billion as of Thursday this week. Adding to this...

JohnHarry66

The sudden bout of selling pressure on the Greenback lent some breathing room to the generalised risk complex, prompting EUR/USD to reverse part of its multi-day leg lower and revisit the vicinity of the 1.1800 neighbourhood. Meanwhile, investors will now look at the upcoming US Retail Sales data and the usual weekly gauge of the labour market.

JohnHarry66

The XAU/USD pair keep trading between Fibonacci levels, recovering from around the 38.2% retracement of the $3,452.51 - $3,247.83 slump while topping around the 61.8% retracement of the same decline at $3,374.56. At the same time, the daily chart shows XAU/USD is currently above a mildly bearish 20 Simple Moving Average (SMA), while the 100 and 200 SMAs head...

JohnHarry66

Gold price regains positive traction amid a modest USD pullback from a multi-week high. Persistent trade-related uncertainties also lend support to the safe-haven precious metal. Reduced Fed rate cut bets might cap the commodity ahead of the critical US CPI report. XAUUSD Buy signal 3354 Target 3386

JohnHarry66

Gold price eases from a multi-week top, though the downside potential seems limited. Reduced Fed rate cut bets underpin the USD and act as a headwind for the commodity. Rising trade tensions should limit any further losses for the safe-haven precious metal. XAUUSD SELL 3348 Support 3330 Support zone 3300

JohnHarry66

From a technical perspective, some follow-through buying beyond the $3,340-3,342 horizontal barrier will confirm a breakout through the 100-period Simple Moving Average (SMA) on the 4-hour chart. This, along with slightly positive oscillators on the said chart, should pave the way for a further near-term appreciating move and lift the Gold price to the next...

JohnHarry66

Bitcoin (BTC) closed a strong second quarter (Q2), recording nearly 30% in quarterly gains amid rising corporate and institutional demand and bullish market sentiment.

JohnHarry66 Updated 

Gold stabilizes near $2,030, eyes on FOMC Minutes Gold clings to marginal daily gains at around $2,030 on Wednesday after closing the first two days of the week in positive territory. The benchmark 10-year US Treasury bond yield edges lower ahead of FOMC Minutes, helping XAU/USD hold its ground. From a technical perspective, sustained strength and acceptance...

JohnHarry66 Updated 

The Japanese Yen (JPY) gains against the US Dollar (USD) on Tuesday, reaching its highest level in over two weeks as the broadly weak Greenback remains under pressure amid fiscal uncertainty and dovish Federal Reserve (Fed) expectations. USD/JPY slips toward 143.00 as broad US Dollar weakness drives gains in the Yen. US–Japan trade talks stall as Tokyo resists...

JohnHarry66

The GBP/JPY pair, on January 24th, navigated through a complex landscape of economic data and market sentiment. Trading at 188.183, it remained stable with no significant change in percentage terms. The pair is hovering around a critical pivot point at 187.50, a level that defines its immediate trajectory

JohnHarry66

EUR/USD preserves its bullish momentum and trades at highest level since September 2021 above 1.1800 on Tuesday. The broad-based selling pressure surrounding the US Dollar helps the pair extend its uptrend as market focus shifts to Lagarde and Powell's comments on the policy outlook.