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.
Monday 17th 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.
Friday 14th April 2023: Technical Outlook and Review
The EUR/USD chart is currently bullish, which suggests that we may see further price increases in the near future. At the time of writing, the price is trading around 1.0985. If the bullish trend continues, the price could potentially make a bullish continuation towards the 1st resistance level of 1.1022.
Thursday 13th April 2023: Technical Outlook and Review
Gold has been displaying bullish momentum on the chart, with the price above a major ascending trend line. This suggests further bullish momentum could be on the cards for XAU/USD.
Wednesday 12th April 2023: Technical Outlook and Review
Gold prices have been showing a bullish momentum, being above the Ichimoku cloud and an ascending trend line. This suggests that prices may rise further. In the short term, prices could potentially make a bullish continuation towards the 1st resistance level.
Tuesday11th April 2023: Technical Outlook and Review
Looking at the DXY chart, the overall momentum is currently bearish. There is potential for a bearish continuation towards the 1st support level at 102.06, which is a pullback support level. If the price were to break below this level, the next support level it could drop to is the 2nd support level at 101.45, which is also a pullback support level.
Monday 10th April 2023: Technical Outlook and Review
Gold prices have been experiencing a bullish trend, with the overall momentum of the chart showing a strong uptrend. While there may be some short-term fluctuations, it is likely that the price will continue its upward trajectory.
Wednesday 05th April 2023: Technical Outlook and Review
Gold has been showing strong bullish momentum with potential for a bullish break through of the 1st resistance level and rise towards the 2nd resistance level. The overall bias is bullish, with price above an ascending trend line indicating further bullish momentum is on the cards.
