fbpx

Register for MT4 Demo Account

Register for xStation Account

Currencies Appreciated Against the Steady USD, Bulls Looms Over Indices & Gold Turns More Expensive

By Research Team Tuesday, Nov 9, 2021
USD/JPY

    • High
    • Low
    • Close

USD/JPY is trading at 112.797, 0.12% up since previous day close. The mixed USD ahead of the U.S inflation data release turned out to be positive for other counterpart currencies. On data front, the Current Account surplus dropped to 0.76T from 0.88T in the previous month whereas the Bank Lending grew by 0.9% against the expectation 0.7%. This made the pair to trade flat to higher side. Last month, the YEN softened widely against the strong greenback on uncertain U.S interest rate decision. The result of CPI & PPI data will remain vital for the week. As seen in the chart, the pair crossed down the Fibo Retracement level of 23.6 which signals the chances of further buying; leading to next level of 38.2. Buying can be suggested in YEN against the USD on daily basis.

Read More… Read Less

Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 114.50600
R2 113.92000
R1 113.58700
Turnaround 113.33400
S1 113.00100
S2 112.74800
S3 112.16200
By Research Team Tuesday, Nov 9, 2021
GOLD

    • 11.05am ISTD1
    • High1827.19
    • Low1821.87
    • Close1824.96

Gold is trading at $1823.97, 0.26% up since previous day close. The Gold prices maintain an upside at two-month highs against the steady USD as market waits for the result of U.S CPI data which is to be issued on Wednesday. Besides this, the U.S Congress passed an infrastructural bill worth $1 trillion which may increase the consumption demand of metals & hence, the Gold prices moved higher. The market will be looking forward to the Fed Powell’s & ECB’s Lagarde speech today. As seen in the chart, the Gold is consistently trading within the consolidation phase & is on the verge of crossing over upper trend-lien of sideways phase & hence, a breakout can be expected if breached.

Read More… Read Less

Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 1849.27000
R2 1835.21000
R1 1829.80000
Turnaround 1821.15000
S1 1815.83000
S2 1807.09000
S3 1793.03000
By Research Team Tuesday, Nov 9, 2021
GER30

    • 10.43am ISTD1
    • High16011
    • Low15985
    • Close16002

GER30 is trading at 15987, 0.06% up since previous day close. An upward momentum can be seen in European shares amid positive global sentiments after U.S Congress passed a$1 trillion infrastructure bill in order to improve transportation system. This overshadowed the negative effect of Fed tapering down of $120 billion stimulus package beginning by $15 a month.            Globally, the result of U.S CPI data & Fed Powell’s speech will remain into focus for the indices. Besides this, the country is to reveal its ZEW Economic Sentiment data today. As seen in the chart, the index is trading near major resistance of previous highs which acts as a crucial level & hence, strong buying may be recommended in GER30 if breaches on short to medium term basis.

Read More… Read Less

Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 16148.30000
R2 16088.67000
R1 16057.33000
Turnaround 16028.67000
S1 15997.36000
S2 15968.87000
S3 15908.67000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2023 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UK: +44 20 38355241 | Dubai: +971 54 339 3959 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.