Forex News

Breaking the Contracting Triangle: A Significant Move in Forex Market The forex market, as we all know, is a volatile beast that can leave even the most seasoned traders scratching their heads. But every now and then, it throws up a move that’s so significant, it warrants a closer look. A Triangle Break: What It…

Gold Prices Hit Record High Amid Global Economic Uncertainty In recent news, gold prices have reached new heights, breaking previous records as investors continue to seek safe-haven assets amid ongoing global economic uncertainty. According to a report by Goldman Sachs, central bank demand for gold-backed Exchange-Traded Funds (ETFs) has been on the rise, with inflows…

The Exciting Comeback of the GBP/USD Pair: A Charming Dance between the Pound Sterling and the US Dollar Oh, what a rollercoaster ride the foreign exchange market has been lately! Hold onto your seats, dear readers, as we delve into the captivating world of currency trading and explore the latest developments between the Pound Sterling…

The Australian Dollar’s Surprising Recovery: A V-Shaped Bounce or a False Hope? The past week has seen a remarkable turnaround for the Australian dollar (AUD), which had been teetering precariously close to the psychologically significant level of 59 US cents. The currency, which had been under pressure due to a host of domestic and global…

The Uneasy Calm: Japan and the US on Excess Forex Volatility In the ever-changing world of forex markets, the calm after the storm is a welcome respite. And such a calm has descended upon the yen, following statements from the finance ministers of Japan and the United States. A Shared Concern Earlier this week, Japan’s…

USDJPY Breaks Support Zone: What Does It Mean for You and the World? The USDJPY currency pair, a popular pair among forex traders, recently broke through a significant support zone. This zone consisted of the support level 144.60, which had halted wave 1 at the beginning of April, as depicted in the chart below: Figure…

Gold and Silver: Unprecedented Rally Above Support Levels The precious metals market has been experiencing a significant surge in recent weeks, with gold and silver continuing to rally from their respective support levels. Gold, in particular, has reached new record highs above $3,200, fueling excitement among investors and analysts alike. Factors Contributing to the Gold…

EUR/USD Edges Lower Amid Global Economic Uncertainties The European currency (EUR) against the US dollar (USD) started the trading week on a cautious note, with the EUR/USD pair dipping lower during Asian trading hours on Monday. The pair hovered around the 1.1360 mark, giving up some of the gains it had made in the previous…