Gold Price Outlook: XAU/USD Breakout to Record Highs- What Now?
The gold price breakout is entering an eighth week with the rally vulnerable at record highs. Here are the levels that matter on XAU/USD technical chart- FOMC on tap.
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Gold, Silver Prices May Fall Based on Technical and Positioning Signs
Gold and silver prices may turn lower based on bearish signals from IG Client Sentiment. Technical signals also warn the XAG/USD may fall, will XAU/USD meet the same fate?
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Australian Dollar Forecast: Reversal Signals on AUD/JPY Price Chart
Last week, AUD/JPY hit a multi-month high then retreated after. Will bulls resume bullish price action or will bears come back?
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XE Market Analysis: Asia – Jul 27, 2020
The DXY fell to two-year lows of 93.48 in N.Y. on Monday, down from 94.40 highs seen in Asian hours. Incoming data has the June durables report, where order rose a better than consensus 7.3%. As has been the case of late, there was little if any market reaction. Wall Street made headway, led by […]
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XE Market Analysis: Asia – Jul 28, 2020
The Dollar stemmed its recent bleeding in N.Y. on Tuesday, though gains overall were modest. The DXY managed to hold above the two-year low seen Monday, bottoming at 93.50 before bouncing to 94.01 into the open. Incoming data was mixed, with June consumer confidence weaker than expected, and the July Richmond Fed index posting a […]
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Canadian Dollar Forecast: Do Breakouts Have Legitimacy? – Key Levels for CAD/JPY & USD/CAD
If the Canadian Dollar is going to gain ground, it appears USD/CAD rates are more likely to deliver on that potential than CAD/JPY rates at present time.
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AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Apr 30, 2020 when AUD/JPY traded near 69.57.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bearish contrarian trading bias.
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Dow Jones, Nasdaq 100, FAANG Technical Outlook Ahead of Earnings Drop
Will the Nasdaq 100 outpace the Dow Jones in a busy earnings week for FAANG companies? All eyes are on Facebook, Amazon, Apple and Alphabet after Netflix and Microsoft disappointed.
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Canadian Dollar Forecast: USD/CAD Price Faces a Key Support Level
Last week, USD/CAD declined to a multi-week low then rallied. Will bears keep steering the pair’s price action?
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FTSE 100 Technical Outlook – Needs to Break the Range, Lagging Other Markets
The FTSE has been shackled lately, unable to make its way higher or lower; the lagging nature compared to other global markets makes it vulnerable.
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Australian Dollar Forecast: AUD/USD Breakout at Risk Below 2019 High
The Australian Dollar breakout is stalling at fresh yearly highs with the FOMC on tap tomorrow. Here are the levels that matter on the AUD/USD technical charts.
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XE Market Analysis: Europe – Jul 27, 2020
The dollar continued to drop, printing fresh trend highs against the euro and other currencies. The narrow trade-weighted USD index (DXY) fell over 0.5% to a 22-month low at 93.84 in what is now the seventh consecutive day of decline and the fourth straight week the index has surpassed its prior-week low. Momentum has also […]