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- allenfx replied May 30, 2024
The pair, which tested 1.0895 during the week, has been declining for the past two days and dropped below 1.0895 during the Asian session last night. Whether it can rise above 1.0805 again during the day will be important. If it remains below this ...
- allenfx replied May 27, 2024
The exchange started the new week with a slight movement in favor of the Yen. Last week, it tested the 157.10 resistance but failed to break upwards. The 157.10 level proved to be an important resistance line because it corresponds to the 61.8 ...
- allenfx replied May 24, 2024
As of yesterday, the parity had retraced to 157.10, which is the 61.8% Fibonacci retracement of the 160.2/151.9 decline. Today, it continues to trade in this resistance area. Movements above 157.10 could initially drive the price up to 158.4, ...
- allenfx replied May 23, 2024
Gold has corrected 50% of its recent rise from 2277. It dipped to 2354 during the day but showed a slight rebound. It needs to hold above 2365, however, for a new strong positive wave to form and the possibility of setting a new record to be ...
- allenfx replied May 21, 2024
Throughout the day, the parity generally continued to move in favor of the dollar. It dipped below the 1.0855 level but we'll monitor whether it can hold above this level throughout the day. If the potential decline continues, a break of the ...
- allenfx replied May 20, 2024
Gold surged to record levels per ounce, driven by expectations of Fed rate cuts following cooling inflation data. Lower rates made gold more attractive, and it most probably maintain its upward momentum.
- allenfx replied May 17, 2024
Important Levels The BoJ announced that it continues its bond purchases, which caused the USDJPY pair to move against the Yen during the Asian session. After seeing the level of 153.70 earlier in the week, the pair starts the last trading day of the ...
- allenfx replied May 17, 2024
The pair, after slightly retreating from 1.0895 resistance it encountered during the week, is approaching the 1.0850 support level. While intraday interim support is seen at 1.0850, I'll be monitoring 1.0828 as the main support. In the event of ...
- allenfx replied May 16, 2024
Gold remains buoyant, around 2400 USD levels. The weakening dollar and declining bond yields are bolstering gold's appeal amid rate cut expectations possibly in September. The outlook remains positive but ongoing inflation developments and interest ...
- allenfx replied May 14, 2024
With Japanese government bond yields surging, USD/JPY is likely to see increased volatility. Hawkish signals could push the pair higher. Yet, collaboration between the government and BOJ might mitigate yen's downside. Short-term remains bullish with ...
- allenfx replied May 13, 2024
Oil prices have declined due to weak Chinese data. Conflicting statements from Iraq add uncertainty ahead of OPEC meeting. This meeting will shape the market sentiment regarding oil but until then we should watch for potential oversupply concerns if ...
- allenfx replied May 9, 2024
Despite the temporary gains after BoJ meeting, bearish sentiment on the Yen prevailed. Fed Rate cut expectations gave dollar an edge but still the picture is unclear. US inflation data next week may reinforce the dollar's strength within a 155-160 ...
- allenfx replied May 8, 2024
Yen seems stable around these levels following recent intervention efforts by Japanese authorities. There will be a temporary relief but due to interest rate diffs, volatility most likely remain for a while. Government official statements signaled ...
- allenfx replied May 7, 2024
Gold may experience volatility and most probably downward pressure because of a stronger dollar but finds support from central bank demand. We'll closely watch Fed Reserve statements and geopolitical events for price direction. I'll watch the price ...
- allenfx replied May 6, 2024
The Bank of Japan's significant intervention efforts aimed at stabilizing the yen have provided temporary relief, but I expect that the yen remains vulnerable to selling pressure in the market for a while. Let's see.
- allenfx replied May 3, 2024
JPY hitting around 153 per dollar, its strongest showing since December 2022. With Asian stocks riding high, especially in the tech arena, the vibe's seems good. And it seems like this might spill over into European stocks. It could mean some ...
- allenfx replied Apr 30, 2024
With a positive GDP growth in Europe and JPM's improved risk-reward profile for Eurozone stocks versus US stocks are impacting demand for gold. It could see some more downward pressure despite lower inflation in the Eurozone. Better be cautious and ...
- Posts by Member Search: 'allenfx'