2021-01-11 • Updated
XAU/USD went back above $1 850 after it reversed from the 200-day moving average. A more cautious risk sentiment on the market underpinned the safe-haven yellow metal. Indeed, new Covid-19 cases continue surging all over the world and investors consider that.
However, increasing US bond yields can limit the further rising of gold. Since Democrats will take the control of both houses of Congress, Biden is expected to inject trillions of dollars in fiscal stimulus to support the economy. After this announcement US stocks surged as well as US Treasury bond yields. Higher yields could raise demand for the US dollar, that’s why most traders will fear to make aggressive bets on XAU/USD.
Gold has failed to break through the 200-day moving average of $1 825 and turned to the upside. It may rise till it reaches the resistance of the 50-day moving average at $1 870, where the pullback is expected. In the opposite scenario, if gold drops below the support zone of $1 835-1 825, the way to the key psychological mark of $1 800 will be clear.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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