by OverviewFX | Aug 19, 2024 | Forex
The price of gold continues its impressive ascent, balancing around $2500 per troy ounce early this week, hovering near record peaks. The primary catalyst driving this rally is the intensified demand for safe-haven assets amid ongoing geopolitical tensions. The...
by OverviewFX | Aug 19, 2024 | Forex
Minneapolis Fed President Neel Kashkari indicated that Fed’s focus is increasingly shifting toward concerns in the labor market, moving away from the inflation side of its dual mandate. In an interview with WSI, Kashkari emphasized that “the balance of risks has...
by OverviewFX | Aug 19, 2024 | Forex
Daily Pivots: (S1) 190.26; (P) 191.19; (R1) 191.99; More… Intraday bias in GBP/JPY remains neutral for the moment. On the upside, above 191.99 will target 61.8% retracement of 208.09 to 180.00 at 197.35, as the second leg of the corrective pattern from 208.09. On the...
by OverviewFX | Aug 19, 2024 | Forex
US 500 index rises above long-term uptrend line 200-day SMA still holds well Stochastic and RSI indicate overstretched market The US 500 cash index recovered by almost 10% from the bearish wave that started from the all-time high of 5,673.39 and is currently returning...
by OverviewFX | Aug 19, 2024 | Forex
EURUSD keeps firm tone at the start of the week and extends gains above psychological 1.10 barrier after registering a weekly close above this level for the first time since late December. Bulls also cleared a Fibo resistance at 1.1012 (76.4% retracement of...
by OverviewFX | Aug 19, 2024 | Forex
Market Picture On Monday morning, the crypto market capitalisation stood at $2.07 trillion, up slightly from $2.05 trillion a week earlier. In the previous two weeks, the market failed to rally above the $2.15 trillion level, which has become a local resistance. The...
