Friday 28th April 2023: Technical Outlook and Review
The DXY chart is currently experiencing a bearish momentum. The price is below a major descending trend line, suggesting that bearish momentum is on the cards. Additionally, the price is testing a descending trend line which acts as resistance.
Thursday 27th April 2023: Technical Outlook and Review
XAU/USD has been showing strong bullish momentum on the chart, suggesting that prices might continue to rise further. At present, the overall momentum of the chart is bullish. Price is currently fluctuating between the 1st support level at 1983.30 and the 1st resistance level at 2010.11. However, price could potentially make a bullish continuation towards the 1st resistance level.
Labor Day & UK Bank Holiday Trading schedule 2023
Dear Trader, Please find our updated Trading schedule for Labor Day & UK Bank Holiday Day on Monday, 01st May 2023.
Wednesday 26th April 2023 : Technical Outlook and Review
The XAU/USD price has a weak bearish momentum with low confidence, and it could potentially make a bearish continuation towards the first support level before bouncing back up towards the first resistance level.
Monday 24th April 2023 : Technical Outlook and Review
DXY: The DXY chart is currently exhibiting a neutral momentum, indicating […]
Friday 21th April 2023 : Technical Outlook and Review
The 1st support level for DXY is at 101.51, which is an overlap support and also lines up with the 38.2% Fibonacci retracement level. This level has proven to be a strong support in the past. If the price were to drop from the current level, it could potentially reach this support level.
Thursday 20th April 2023: Technical Outlook and Review
Gold (XAU/USD) continues to show a bearish momentum on the chart. Currently, the price is expected to break below the 1st support level and drop towards the 2nd support level. The 1st support level is at 1982.58, which is a good level because it is an overlap support.
Wednesday 19th April 2023: Technical Outlook and Review
The US Dollar Index (DXY) is currently experiencing a bearish momentum with a potential for further downward movement. The first support level is at 101.51, which is an overlap support and coincides with the 50% Fibonacci retracement level. The second support level is at 100.86, which is a multi-swing low support level.
Tuesday 18th April 2023: Technical Outlook and Review
The XAU/USD chart is currently showing bullish momentum, and the price could potentially drop in the short term towards the 1st support at 1997.12, which is a strong overlap support level and also aligns with the 23.6% Fibonacci retracement level.
