Market Analysis 27-31 March 2023

XAUUSD Analysis 27 – 31 March 2023 The gold price trend can be viewed both positively and negatively in the short and medium term. As the close of last week's Doji bar indicates hesitation in the market. Although the previous three weeks, gold has had strong and consistent buying momentum since the beginning of March. But even so, the g...

March 27, 2023
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Bollinger Bands – what are they and how can you use them in FX day trading

Bollinger Bands are one of the most popular indicators that FX and CFD traders use, invented in the 1980’s they are a technical analysis tool that are widely used by short and long term traders. The main uses for Bollinger Bands is determining turning points in the market at oversold and overbought levels and also as a trend following indicato...

March 24, 2023
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XAUUSD, GBPUSD, and EURUSD Analysis 20 – 24 March 2023

XAUUSD Analysis 20 – 24 March 2023 The outlook for gold prices remains positive in the medium term. This is because gold prices rose above the 1960 price line before testing the 2000 resistance and then dropped after failing to cross it. Adjust the resting base or sideways to go up to the resistance 2000 again, which is the next target tha...

March 22, 2023
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XAUUSD, GBPUSD, EURUSD Analysis 13-17 March 2023

XAUUSD Analysis 13-17 March 2023 The gold price outlook remains positive in the short and medium term. As the price of gold rested above the 1800 support level before making a strong rally and breaking above the 1880 level as a result of the increased demand for gold as a safe haven over the weekend. come After the collapse of Silicon Valley...

March 15, 2023
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How to trade the US Dollar Index

The US Dollar Index (DXY) is a popular tool used by forex traders to assess the value of the US dollar relative to a basket of other major currencies. The DXY is calculated using the weighted average of six major currencies: the euro, yen, pound sterling, Canadian dollar, Swedish krona, and Swiss franc. To use the DXY to trade forex, you can fol...

March 14, 2023
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Bank of Canada keeps interest rates at 4.50%

This week, the Bank of Canada (BoC) released its decision to hold interest rates at the current level of 4.50%. In the rate statement, the BoC indicated that inflation has eased to 5.9%, and the expectation for weaker economic growth and a moderation of wage growth could see inflation continue on its downward trajectory. The BoC highlighted that it...

March 10, 2023
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XAUUSD, GBPJPY, and GBPUSD Analysis

XAUUSD Analysis The gold price outlook remains positive in the short and medium term. Gold price has rested above support 1847 and support 1830 is the next support in case support breaks 1847 down, but if the price rises, resistance 1858 is a short-term target or High. The latest that the price has made And the next resistance at the price l...

March 7, 2023
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USDJPY – Bank of Japan Policy Decision & the 10-yr JGB Yield

The USDJPY had been trading steadily higher in February, from the 128.50 support level, up toward the 137 round number resistance level. This move was driven by a combination of fundamental reasons (strengthening of the DXY and overall weakness of the Japanese Yen) and technical setup (the golden cross, where the 50-period Moving Average crossed ov...

March 6, 2023
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AUD CPI eases but Interest Rates could continue rising

The Consumer Price Index (CPI) is an inflation indicator that is closely watched by the markets and policymakers as a gauge of economic fluctuation and price stability. Generally, central banks set and adjust their monetary policy mandate in order to achieve a target level of 2-3% which would allow for moderate growth in prices. As the major econom...

March 2, 2023
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Strong breakout potential on the EURJPY

The EURJPY has been trading under the 142.70 resistance area since the end of December 2022. With the price failing to break through over several occasions, the recent weakness in the Japanese Yen has seen the EURJPY trade beyond the resistance level, signaling the potential for a significant move to the upside. The recent weakness in the Japane...

February 17, 2023
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US Dollar Index technical and fundamental analysis

US Dollar Index Fundamental Analysis A hard-fought tug-of-war between bulls and bears played out on the DXY Index after U.S. inflation data crossed the wires. A knee-jerk reaction caused the greenback to plunge, but eventually it was able to recover and move into positive territory due to higher Treasury yields (DXY +0.10% to 103.41). However...

February 16, 2023
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Where to next for the USDJPY?

The stronger-than-expected US non-farm employment change data release last week saw the DXY climb strongly higher, beyond the 103 price level. With markets now anticipating that the US Federal Reserve could reinforce its hawkish stance, further upside is expected for the DXY. On the other hand, uncertainty rises over the Bank of Japan’s (BoJ) ...

February 7, 2023
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EUR looking to continue its bullish trend ahead of FOMC and ECB meeting

The EUR has been on a run since it bottomed in September 2022. From that time, the price is up almost 15% and is currently trading at 1.0863. However, with important economic data to come out of the USA and the next interest rate decision from both the ECB and the Federal Reserve coming out in the next few days the market may find some more directi...

February 1, 2023
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Notice to clients – Scam websites warning

In this climate of phishing and scam websites and messages, we’d like to take this opportunity to remind our clients of the official GO Markets websites. Scammers at times will register similar domains, with minor spelling differences, and copy our website design in an attempt to deceive visitors. These copies can sometimes be very convincing....

January 31, 2023
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US Dollar Index Testing Key Level

US Dollar Fundamental Analysis Recent data indicated that the U.S. economy grew strongly in the fourth quarter which has boosted the Dollar against the Euro. This has supported the Federal Reserve's hawkish stance in spite of reports that US consumer spending has fallen, and inflation has cooled. According to the Commerce Department, the Consumer ...

January 31, 2023
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