How to Use Fibonacci Retracement Indicator in Forex Trading
The famous Fibonacci numbers often appear to have strong correlations with nature, and their relevance to forex trading is no exception as they influence the financial market as well. Developed by Joseph Granville in 1963, Fibonacci Retracement Indicator helps forex traders identify potential support and resistance levels in a currency pair.
May 26, 2023 - Fundamental Reminder
On Thursday, spot gold fell to its lowest point since March 22, eventually closing 0.83% lower at $1,940.85 per ounce as optimism around U.S. debt ceiling negotiations reduced safe-haven demand for gold and strong economic data pushed up bets on another Federal Reserve rate hike.
10 Best Trading Adjustments To Get You Back On A Winning Track
The psychological impact of trading losses can ravage your mind like a hurricane. While a part of you regrets the foolish decisions made initially, another part of you yearns to swiftly recover from the losses. Nonetheless, that approach won’t help you get out of the abyss. If you find yourself in a similar situation, we present you with the top 10 trading adjustments to help you regain your winning streak!
May 25, 2023-MHM European Perspective
Spot gold was slightly lower during the Asian session on Thursday (May 25), currently trading around $1,955.68 per ounce.
May 25, 2023 - Fundamental Reminder
On Wednesday, with the dollar higher and with hawkish comments from Fed Governor Waller and the minutes of the May meeting dampening market expectations for its June press, spot gold sank nearly $30 from its daily high to end down 0.88% at $1,957.33 per ounce.
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May 24, 2023-MHM European Perspective
During the Asian session on Wednesday (May 24), spot gold oscillated slightly higher and is currently trading around $1978.15 per ounce.
How to Use Bull Power and Bear Power Indicator in Forex Trading
The Bull Power and Bear Power indicators are forex technical analysis tools that identify bullish or bearish trends. Think of the Bull Power indicator as your trusty steed, charging through the market with buying power stronger than a herd of actual bulls. And Bear Power indicator as a deterrent against pesky bears trying to bring down your profits.
What the US debt ceiling crisis could mean for the US dollar?
America's dominance in the global economy is facing significant challenges due to self-inflicted policy wounds. A critical impasse surrounding the debt ceiling has brought the spotlight back to the dollar’s unparalleled position in international trade and finance.
What the US debt ceiling crisis could mean for the US dollar?
America's dominance in the global economy is facing significant challenges due to self-inflicted policy wounds. A critical impasse surrounding the debt ceiling has brought the spotlight back to the dollar’s unparalleled position in international trade and finance.
May 24, 2023 - Fundamental Reminder
On Tuesday, spot gold V-shaped rebounded, hitting an intraday low of 1954.28; however, due to the lack of progress in debt ceiling negotiations and data indicating that the U.S. manufacturing sector is back in contraction, gold prices reversed their intraday losses and eventually closed up 0.29% at $1975.09 per ounce.
May 23, 2023-MHM European Perspective
Spot gold weakened slightly during the Asian session on Tuesday (May 23), once losing the 1960 mark, which was a new low for the past two trading days.
May 23, 2023 - Fundamental Reminder
On Monday, under pressure from renewed optimism in debt ceiling negotiations and hawkish comments from Fed officials, spot gold retreated, falling below the 1,970 mark during the session and eventually closing down 0.24% at $1,971.
AUS Global: Celebrating Excellence – Best STP Forex Broker Award at the Forex Traders Summit Dubai 2023!
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Market exuberance takes DAX to a new record high
Markets in Europe have observed another day of strong gains after the Nikkei 225 closed at its highest levels since 1990 and finished the week higher by 4.8%.
Ichimoku Cloud Analysis 19.05.2023 (GBPUSD, XAUUSD, USDCHF)
GBPUSD is pushing off the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2460 is expected, followed by a decline to 1.2275. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2595, which will mean further growth to 1.2685.
Forex Today: US Dollar holds firm despite improving risk appetite
The US Dollar Index (DXY) rose for the second consecutive week despite improving market sentiment. The debt ceiling drama is set to continue as the deadline approaches, and although there are hopes for a deal, it has not been reached yet. The banking sector remains in the spotlight, particularly after Treasury Secretary Yellen's comments on Friday. Next week, the market will get a glimpse of the performance of the global economy with the preliminary May PMI that will likely weigh on sentiment.
AUS Global: Celebrating Excellence – Best STP Forex Broker Award at the Forex Traders Summit Dubai 2023!
Discover the Highlights of AUS Global’s Memorable Participation.
Market Closure in May
Please refer to the following table for the changes in the trading hours during the month of May 2023.
May 22, 2023-MHM European Perspective
On Monday (May 22) , spot gold oscillated slightly lower during the Asian session and is currently trading near $1,975.77 per ounce. Although the impact of the Fed chairman's slightly dovish speech on Friday is still fermenting, the dollar and U.S. bond yields fell, gold prices rebounded sharply on
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