THE FOREX TRENDS
Revealing the World of Forex: Expert Analysis and Secrets of successful trading
In the weekly chart of gold, we are still bullish, but if we look at the last five weeks' candles, we can see selling pressure. There are three consecutive bearish candles before the previous two weeks. All three candles have long spikes from the top, indicating significant selli ...
As we know, today there is no significant news for the US dollar. Usually, we see that there is always less movement in the market on Mondays. Since there is no high-impact news scheduled today, there will be very little movement in XAUUSD. Therefore, we can trade on smaller time ...
Today at 7:30 PM IST, the USA's CB Consumer Confidence data will be released. The forecast suggests an increase compared to the previous data. Given the strong state of the US economy, positive data could trigger a sell-off in gold. In the daily timeframe, the structure of gold i ...
Today at 7:30 PM IST, the USA's New Home Sales data will be released. Forecasts suggest it will surpass previous figures, bolstered by high consumer confidence. If the home sales data is positive, we may witness a strong selling trend in gold. Conversely, a less favorable report ...
At 6:00 PM IST today, the USA's Final GDP data will be released. GDP, or Gross Domestic Product, is a crucial indicator of a country's economic health. It encompasses consumer spending, manufacturing activity, job growth, and more. Understanding its implications can help us predi ...
The recent release of the USA's GDP data revealed a slight increase compared to the previous quarter. This indicates that the US economy remains robust, suggesting that inflation may not cool down soon. Consequently, the Federal Reserve is unlikely to cut interest rates, leading ...
Yesterday at 7:30 PM IST, the USA ISM Manufacturing PMI data was released, showing results lower than forecasted. This indicates a slight cooling down in the US economy. Despite this, market sentiment remains "higher for longer," and Federal Reserve members maintain a hawkish sta ...
The Eurozone's Core CPI Flash Estimate for July 2024 has shown an annual increase of 2.9%. This rate slightly surpasses the forecast of 2.8% and matches the previous month's rate. Excluding volatile items like food, energy, alcohol, and tobacco, this measure is a crucial indicato ...
There is no significant fundamental news affecting the British pound (GBP) as of July 2, 2024. This allows technical analysis to play a more prominent role in guiding trading decisions for the GBP/USD pair. The GBP/USD pair has shifted from a bullish to a bearish structure. As lo ...
Yesterday at 7:00 PM IST, FED Chair Jerome Powell released a speech in which he mentioned that the latest inflation reading suggests a disinflation path. On the other hand, regarding the labor market, he stated, "If the labor market unexpectedly weakens, that would also cause us ...