commodities

The current structure of the XAUUSD pair hints at a global correction pattern. This takes the form of a cycle triple zigzag. The last section of the chart shows the structure of the bearish cycle intervening wave x. This ended as a…
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The sales pitch for gold is that it's a hedge against inflation, because it doesn't lose its value. It is a real commodity, unlike fiat currency. Yet, as inflation has skyrocketed around the globe this year, the price of gold has not. In…
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NZDUSD breaks support The New Zealand dollar weakened despite a 50bp hike by the RBNZ as risk sentiment fades. The pair hit resistance at 0.6460 and has given up most of its recent gains. A drop below 0.6300 at the base of last week’s…
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USDJPY struggles for bids The US dollar consolidates as traders reassess future rate hike moves by the Fed. A bearish RSI divergence and MA cross on the daily chart suggest the start of a correction. A short-lived rebound came to a…
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GBPUSD tests resistance The US dollar tumbled after a slowdown in core inflation in July. A bullish MA cross on the daily chart suggests an improvement in sentiment but the pound needs to consolidate its gains so a rebound could have…
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XAUUSD grinds rising trendline Gold rallies as the market awaits US inflation data. A break above the 30-day moving average has helped the recovery gain traction. A rising trendline from late July indicates a bullish bias. The latest…
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On Friday, US Non-Farm Payrolls came in over twice what was expected. The unemployment rate dropped as well, if only by a decimal point. Yet US stocks (as measured by the S&P 500 and Nasdaq) dropped. Why would it be a "bad" thing for US…
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