Gold tries to recover

Jing Ren Orbex

GBP/USD breaks higher

The pound advanced after resilient UK wage growth put pressure on the Bank of England to tighten policy. A new high above 1.2850 suggests a bullish continuation after a near four-week long consolidation. Such an upbeat confirmation in market sentiment would attract more trend followers. The supply zone formed by the psychological level of 1.3000 and a 15-month high of 1.3050 is next where resistance could be felt. As the RSI ventures into the overbought area again, 1.2880 is the closest support in case of a pullback.

XAU/USD bounces back

Gold bounced as Fed officials hinted at the near end of the tightening cycle. The price seems to have found a solid foundation over the psychological level of 1900 from where the bulls hope the precious metal is bottoming out. A decisive break above the recent swing high of 1935 has prompted more bears to cover in fear of a short-squeeze, which could pave the way for an extended recovery towards June’s peak of 1982 with 1955 as an intermediate hurdle. 1924 is a fresh support to keep the rebound momentum intact.

US Oil breaks key resistance

WTI crude rallied after the IEA commented that the market may tighten in the second half of the year. A close above the previous swing high of 72.50 then the 6-week high of 74.50 may open the door to a broader recovery in the medium-term by forcing the shorts to cut their losses. A bullish MA cross on the daily chart compounds the reversal pressure with 76.80 as the next target. The RSI’s double top in the overbought area may cause a limited fallback and the base of the momentum at 73.00 is the level to assess follow-up bids.

Author

Jing Ren

Orbex

Jing-Ren has extensive experience in currency and commodities trading. He began his career in metal sales and trading at Societe Generale in London.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

Top Crypto Gainers: Aster, Decred, and Kaspa rise as selling pressure wanes

Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.