ONLINE FOREX BROKER
2021-06-02 • Updated
As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916. However, it failed to sustain these gains and dropped back below $1,900/Oz. The technical indicators are heavily overbought and starting to turn lower again, which keeps the possibility for further declines ahead. Such a downside move is only a short-term retracement, and it does not mean that the upside trend is over. Therefore, we still prefer to wait for the downside retracement to conclude before adding new long positions, while we maintain the long positions that we issued back in April at $1,725 and $1,715/Oz for now, but it's wise to raise the stop loss to $1,835 for now.
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
|
1854.80 |
1878.99 |
1889.71 |
1903.18 |
1913.90 |
1927.37 |
1951.56 |
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.
US stocks have delivered their worst first half of a year in more than 50 years triggered by the Fed's attempt to control inflation and growing concerns about recession.
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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