fbpx

Register for MT4 Demo Account

Register for xStation Account

The pound lingers below 1.3150, European stocks falter, and silver falls to $28.50 as markets await US data.

By Research Team Tuesday, Sep 3, 2024
GBP/USD

    • 11.30amD1
    • High1.3154
    • Low1.3119
    • Close1.3139

GBP/USD is trading at 1.3113, 0.23% down since previous day close. Tuesday’s early European trading saw pressure on the GBP/USD exchange rate near 1.3100. For the pair, a generally stronger US dollar and a risk-averse market climate are unfavourable. Traders turn their attention to the US ISM manufacturing PMI data in search of new trade momentum. The closest support is at 1.3108, and the closest resistance is at 1.3202, according to the daily chart analysis. A gap down opening indicates a downtrend for today.

Read More… Read Less

Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.3333
R2 1.3270
R1 1.3202
Turnaround 1.3142
S1 1.3108
S2 1.3007
S3 1.2930
By Research Team Tuesday, Sep 3, 2024
GER30

    • 11.35amD1
    • High18952.00
    • Low18775.00
    • Close18905.00

GER30 is trading at 18940, 0.06% up since previous day close. Tuesday’s European stock market was flat as investors awaited a plethora of economic data that would provide additional insight into the monetary policy paths of the US and the euro zone. Gains in industrials were countered by losses in miners. Daily chart analysis shows that the previous day’s candle formed a long-legged doji, a sign of a trend reversal. Additionally, the trend may continue to rise. 18976 is the nearest resistance.

Read More… Read Less

Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 19312.00
R2 19203.00
R1 18976.00
Turnaround 18921.00
S1 18706.00
S2 18540.00
S3 18278.00
By Research Team Tuesday, Sep 3, 2024
SILVER

    • 11.40amD1
    • High28.96
    • Low28.31
    • Close28.51

SILVER is trading at 28.41, 0.49% down since previous day close. Early Asian trading on Tuesday saw a decline in silver prices as investors waited for a plethora of U.S. economic data to determine the extent of the Federal Reserve’s anticipated interest rate decrease this month. The pair is positioned within a descending channel, indicating a bearish bias, according to the analysis of the daily chart. A bearish trend is confirmed by the (RSI) being positioned below the 50 level. The nearest support is at 2485.

Read More… Read Less

Daily Outlook

SILVER

Intra Day
Near Day

Technical Levels

R3 30.57
R2 30.05
R1 29.59
Turnaround 28.60
S1 28.03
S2 27.45
S3 26.99
footer-logo

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

 

© 2024 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: UAE: +971 43304431 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.