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Elliott Waves on Gold: Deep correction hunting support
Gold's price is inching slightly to the upside, but the movement on smaller time frames isn't showing strong impulsive characteristics from the lows seen on Tuesday. This suggests that the current uptick could still be part of subwave four within wave C, which is associated with a corrective drop. W
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European money markets are still banking on (at least) three 25 bps ECB rate cuts this year
Markets Core bonds drifted away again yesterday. In the US, Treasuries reversed Tuesday’s (disappointing) PMI-induced spike higher. Weakening demand and a slight tail at the US Treasury’s record $70bn 5-yr Note sale kept UST’s near intraday lows going into the close. The longer end of the curve unde
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Gold price weakens further ahead of key US macro data
Gold price eyes more downside amid caution ahead of US core PCE Price Index data. Apart from the US underlying inflation data, investors will focus on Durable Goods Orders and Q1 GDP. The US Dollar corrects as a weak PMI report for April dampens investors’ confidence in the strong US economic outloo
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EUR/JPY Price Analysis: Bullish momentum prevails, reaches its highest since 2008
The daily RSI signals growing buying momentum for the EUR/JPY. The daily MACD also shows a strengthening buying momentum. On the hourly chart, the same indicators reveal signs of a more immediate buyer dominance. The EUR/JPY rose towards 165.64 on Tuesday’s session, its highest level since 2008, sho
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EUR/USD, capped below 1.0700 maintains the broader bearish trend intact
Euro recovery stalls below 1.0700, and remains dangerously close to the 1.0610 low. A combination of the Fed’s “higher for longer” with hopes of ECB easing is weighing on the Euro. This week the US GDP and PCE Prices Index figures might give a fresh boost to the USD. Euro bears remain in control on
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EUR/CHF upside attempts remain limited below 0.9730
The Euro bounced up strongly after Friday's reversal, but it has stalled below the 0.9730 - 40 area. Weak eurozone Consumer Confidence data has eroded confidence in the Euro. Failure to extend gains beyond 0.9740 might give hope for bears to retest 0.9675. The Euro bounced up sharply after fears of
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Pull-up Update