EUR/USD battles 1.19 after cautious ECB minutes

EUR/USD has stabilized around 1.19 after the ECB meeting minutes pointed to some caution about expanding the bond-buying scheme. Earlier, the dollar weakened after the Fed signaled openness to more QE. The US holiday implies thin volume.



GBP/USD falls below 1.3350 amid Brexit concerns

GBP/USD retreats from near 1.3400, undermined by Brexit woes and renewed dollar demand. Doubts arise about Chief EU Negotiator Barnier traveling to London.


XAU/USD remains supported above $1800 level amid quiet holiday trade

Spot gold (XAU/USD) continues its gradual grind higher for a second day, the precious metal having bounced at support at the psychological $1800 mark on Tuesday, following a hefty sell-off at the start of the week that saw spot prices drop from the high $1800s. 

Gold news

US Thanksgiving Wrap: Consumers carry October, November starts to look dicey

A triple dose of US data on Wednesday before the Thanksgiving holiday confirmed the strength of the consumer recovery even as employment problems again loom from the rising numbers of Covid-19 closures across the country.

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Fox News, AP, ABC, NBC and CNN call elections for Biden

Joe Biden has been elected the 46th President of the United States according to Fox News, AP, ABC, NBC, and CNN. The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump. Here is the official post from ABC: ABC News can characterize Joe Biden as the apparent winner in Pennsylvania — a win that makes him president-elect.


Dhwani Mehta

Gold bulls are offered temporary reprieve amid the US data disappointment, which reignited economic growth concerns and downed the US dollar. Markets have begun to respond to the fundamentals amid coronavirus vaccine hopes and surging infections worldwide.

Gold: Key resistances and supports

The Technical Confluences Indicator shows that the XAU/USD pair faces immediate resistance at $1813 (previous high four-hour) as it attempts another bounce.

The next upside barrier awaits at $1816, which is the Pivot Point one-day R1.

The gold bulls need a sustained move above the powerful resistance at $1818, where the Pivot Point one-month S3 converges with the previous day high.

Buying interest will likely accelerate above the latter, opening doors for a test of the $1825 level, which is the Pivot Point one-day R2.

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Bitcoin at $5,000 charts begin to pop up on Twitter, how likely is such a massive correction?

It’s not uncommon to see considerable corrections in the market after massive rallies like the one Bitcoin is experiencing. Around $80 billion were wiped out from the market in less than 24 hours, and some analysts believe the price could go even lower.

More Bitcoin News

Ethereum transaction fees skyrocket as price collapses

At the time of writing, Ethereum (ETH) is trading at $520. The second-largest digital asset, with the current market capitalization of $59 billion and an average daily trading volume of $30 billion, has lost over 12% on Thursday. However, it is still in a green zone on a week-to-week basis.   

More Ethereum News

Cardano Price Prediction: ADA must overcome a massive supply barrier to extend a recovery

Cardano (ADA) has climbed to the 8th position in the global cryptocurrency market rating. The coin hit $0.194, the highest level since July 2020, on November 24, before the correction started. 

More Cardano News

SushiSwap Price Analysis: SUSHI rebounds strongly as whales buy the dip

The entire cryptocurrency market suffered a massive crash on Thursday. Sushiswap price dropped by more than 20% within hours but managed to recover almost instantly, hitting $1.285.

More SushiSwap News




EUR/USD Weekly Forecast: Bulls remain in control after virus-vaccine struggle

A dull week comes to an end, with the EUR/USD pair closing it little changed in the 1.1870 price zone.  The pandemic fatigue has extended its claws into financial markets, as investors struggle to balance vaccine hopes and fresh restrictive measures in the northern hemisphere.

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GBP/USD Weekly Forecast: Deal or no deal? Boxed-in Boris may unleash a rally

Far away, so close? Brexit headlines have continued whipsawing GBP/USD – and so have changing market mood swings. Vaccine news is set to continue competing with covid statistics once again. 

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USD/JPY Weekly Forecast: Hostage to the pandemic

If the USD/JPY saw it largest one day rally since the March panic with the Pfizer vaccine announcement on November 9th, the dollar's steady fall over the subsequent nine sessions is proof, if any were needed, that the grinding reality of the pandemic is still the overriding factor in the markets.

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AUD/USD Weekly Forecast: In limbo but near yearly highs

The AUD/USD pair holds on to modest gains just above 0.7300 as an uneventful week comes to an end. The American currency got no love from market players, as the US is immersed in a chaotic uncertainty. 

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Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

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Gold Weekly Forecast: Coronavirus vaccine optimism hurts XAU/USD

After failing to break above $1,900 at the start of the week, Gold spent the majority of the week under modest bearish pressure and dropped to $1,850 area before staging a rebound on Friday. 

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