Gold supported during US session – 24 May 2022
Gold finds support in US session after some calendar releases disappoint.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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Gold finds support in US session after some calendar releases disappoint.
Bitcoin is threatening to break down after six days of consolidation.
Weak UK flash PMI's act as catalyst for GBPUSD weakness.
US30 hourly chart is at key overhead resistance.
Dollar retracement normalises weekly overbought condition.
President Lagarde post blogpost on ECB website on path to normalisation. EURUSD catches a bid in response.
ECB President Lagarde adds to calls to have the crypto market regulated.
US30 looks to be charting the next lower peak in its H4 chart.
Technical reversal pattern gives a measured move target significantly below bitcoin's current price.
The US30's momentum is showing bearish pressure. If it maintains current readings, prices are likely to decline further.
Large retailers' margin squeeze due to supply shocks. Ominous inflation spiral signs need to be controlled
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