The price of gold takes out the August low ($1885) as it continues to trade within the downward trending channel from earlier this year.
Gold Price Outlook
The price of gold appears to have reversed ahead of the September high ($1953) as it trades back below the 50-Day SMA ($1931), and bullion may track the negative slope in the moving average as it trades to...
The same themes weighing on risk sentiment in recent weeks, namely the rising US dollar and elevated global bond yields, were at it again today. We saw the EUR/USD get closer to the 1.05 handle, USD/JPY neared 150.00 and gold broke $1885 to reach its lowest level since March. Stock markets were coming off their earlier highs. Today we are looking at the USD/CHF as...
The price of oil consolidates after registering a fresh yearly high ($92.43) last week, but the move below 70 in the Relative Strength Index (RSI) may accompany a near-term pullback in crude to mirror the price action from earlier this year.
Crude Oil Outlook
The price of oil is little changed from the start of the week as it bounces back from a fresh weekly...
BTC/USD reversed ahead of the June low ($24763) to register a fresh monthly high ($27491) during the previous week, but Bitcoin may track the negative slope in the 50-Day SMA ($27674) as the recovery from the monthly low ($24922) stalls ahead of the moving average.
BTC/USD Outlook
BTC/USD struggles to hold its ground after failing to push back above the $27470...
GBP/JPY trades to a fresh monthly low (180.82) after failing to push back above the 50-Day SMA (183.26), with recent developments in the 50-Day SMA (183.26) warning of a potential change in trend as the moving average no longer reflects a positive slope.
GBP/JPY Outlook
Failure to retain the range-bound price action from earlier this week may lead to a further...
With all the Fed and other major central banks out of the way now, we have seen a sharp sell-off in stocks and bonds, and to a lesser degree gold, while yields and the dollar have risen.
The precious metal has shown some signs of life off late, due largely to haven demand with investors evidently starting to disliking equities amid valuation concerns and as...
The S&P500 trades to a fresh monthly low (4398) after struggling to hold above the 50-Day SMA (4485), and the index may continue to give back the advance from the August low (4335) amid the flattening slope in the moving average.
S&P500 Index Outlook
The S&P500 is under pressure following the string of failed attempts to push back above the 4510 (100%...
The price of gold threatens channel resistance as it extends the series of higher highs and lows carried over from last week.
Gold Price Outlook
The price of gold appears to be breaking out of the descending channel from earlier this year as it trades back above the 50-Day SMA ($1932), with a close above $1937 (38.2% Fibonacci extension) raising the scope for...
The price of oil continues to carve a series of higher highs and lows to register a fresh yearly high ($91.36), and crude may continue to approach the November 2022 high ($93.74) as the Relative Strength Index (RSI) holds above 70.
Crude Oil Outlook
The price of oil has cleared the range-bound price action from earlier this month to keep the RSI in overbought...
BTC/USD appears to be reversing ahead of the June low (24763) as it stages a three-day rally.
BTC/USD Outlook
BTC/USD may push towards the $27470 (23.6% Fibonacci extension) to $28220 (23.6% Fibonacci retracement) region as it trades to a fresh monthly high (26845), with a move above the 50-Day SMA (28207) bringing $29140 (38.2% Fibonacci extension) back on...
The opportunity cost of holding gold, a non-interest-bearing metal, has been rising due to the fact government bonds have been providing much better nominal yields of late. For gold to start shining again, we will need to see clear signs that the days of contractionary monetary policy are numbered. For now, we are not there. But while there is increased risk of...
The price of gold registers a fresh monthly low ($1906) after struggling to push back above the 50-Day SMA ($1932).
Gold Price Outlook
The price of gold continues to trade within the descending channel from earlier this year as it extends the decline from the start of the month, and bullion may continue to give back the rebound from the August low ($1885) as...
AUD/JPY rises for the third consecutive day after testing the monthly low (93.59).
AUD/JPY Rate Outlook
AUD/JPY may attempt to test the monthly high (94.72) as it pushes above the 50-Day SMA (94.33), and the exchange rate seems to be showing a limited response to the negative slope in the moving average as it no longer trades within a descending channel.
A...
The price of oil halts a six-day rally, and a move below 70 in the Relative Strength Index (RSI) may accompany a larger pullback in crude as it reflects a textbook sell-signal.
Crude Oil Outlook
The price of oil trades in a narrow range as it struggles to extend the series of higher highs and lows carried over from last week, and failure to hold above $87.30...
Gold was able to stage a mild rebound along with the major European indices this morning following their recent declines. The rebound was probably driven by traders buying back their short trades they undoubtedly established in the last several days. But as gold bounces back to test former support levels, the selling pressure could resume again, given a weak macro...
The price of gold appears to be falling back from channel resistance as it extends the decline from the start of the month.
Gold Price Outlook
The price of gold extends the series of lower highs and lows from earlier this week to register a fresh monthly low ($1915), and bullion may continue to operate within the descending channel from earlier this year as it...
EUR/JPY appears to be defending the opening range for September as it holds above the 50-Day SMA (157.10).
EUR/JPY Rate Outlook
EUR/JPY consolidates after taking out the September 2008 high (159.61), but the exchange rate may continue to retrace the decline from the yearly high (159.77) as it carves a series of higher highs and lows.
A move above 158.80...
A massive outside-day reversal off confluent support is now approaching a key resistance zone at 4.22/24 - look for a reaction there IF reached.
A topside breach / close above is needed to mark resumption towards 4.33.
Broader bullish Invalidation now raised to the 50-DMA (currently near ~4%).
@MBForex
