USD/JPY extends Monday’s rebound from three-week low, refreshing intraday low at the latest. USD/JPY stays on the front foot for the second consecutive day, up 0.16% intraday around 113.85 as Tokyo opens for Tuesday. For now, though, selling pressure ahead of the psychologically important 114.00 level and the 21DMAl near 114.10 just above it is preventing any...
Gold prices grind between $1780 - $1815. The 4-hour chart indicates to be long above $1,815 and short below $1,780. Between these levels, traders will be at risk of whipsaw price action and sideways consolidation. Even so, a clear downside break of the stated support line, around $1785 by the press time, won’t be enough as multiple levels around $1780 also...
XAU/USD clings to modest recovery gains, remains below $1,800. Yields failed to cheer hawkish Fed Minutes, inflation data on Wednesday. Strong technical support around $1,780 - $1,785 also played its role to trigger the corrective pullback. + The recovery moves remain elusive until crossing the 200-SMA and the aforementioned support-turned-resistance area,...
=> => If the price corrects down to 0.9290 then 0.9250, this will be an opportunity for the bulls USD/CHF hits seven-week highs near 0.9350. While clearly above support at 0.9250, the USD/CHF could continue to look for more gains in the short-term. At support line, near 0.9250, to challenge short-term USD/CHF sellers. However, an ascending support line from...
AUD/USD seesaws around seven-week low, snaps two-day downtrend. The price fell on Monday from 0.7273 to a new low of 0.7221. the A$ should remain under modest pressure given further weakness in Chinese steel prices/ super weak October steel production data, the continued slide in coal markets, the more dovish RBA Governor’s speech to the ABE last week. A test down...
Currently, it is necessary to closely observe two important price zones: + Support zone 1.3350 - 1.3390, GBP/USD is consolidated in the opening session but the focus is on a test of 1.3350-1.3390 the figure. If this zone is broken, the bears will return to the market and push GU to 1.33 level and deeper to 1.3270 level. + Resistance zone 1.3480-1.3510. This is a...
+ EUR/USD slides below 1.1240 amid broad US dollar strength, after Biden nominates Powell. EUR/USD: The pair has a bearish bias, and the rallies have the potential of being sold, as a monetary policy between the Fed and the ECB, diverge. EURUSD continued to decline in the past session, causing the bulls' attempt to be completely broken. However, ahead is still a...
USD/JPY remained subdued in the overnight session, but in the Powell news, rallied 60 pips. Two important price zones need to be observed: 114.70-115.00 and 113.80 - 114.00. This is an area that will make the bulls come back to hold the market. In the daily chart, the USD/JPY depicts an upside bias. The daily moving averages (DMA’s) reside below the spot price,...
Gold Price: Poised to challenge a critical support at 1,803.70. Markets welcome US Pres. Biden’s decision to nominate Powell for Fed Chair, Clarida as vice Chairman. Gold (XAU/USD) defends the $1,800 threshold following the heaviest daily fall in over 10 weeks. => Long if 1803 become a fail breakout. That said, the yellow metal picks up bids to $1,817 , 1826 and...
EUR/USD holds below 1.1500, eyes on 1.1450 The pair was testing the 1.1580/70 (50-period SMA, static level) support area and additional losses could be witnessed if this area turns into resistance. The first hurdle aligns at 1.1600, where the 100-period and 200-period SMAs collide. 1.1620 (static level) and 1.1650 (static level) could limit the pair's upside in...
The metal jumped to the highest in five months, also crossed the key upside hurdles near $1,832-34. On these last, the 20 SMA is extending its advance beyond the longer ones, reflecting the increased buying interest. Gold is extremely overbought also in the near term. The Momentum indicator has lost its bullish strength, modestly retreating from its daily peak. At...
GBP/USD: Downside resumes towards 1.3425 amid Brexit woes. Looking at GBP/USD’s daily chart, the bears are looking to test the rising trendline support at 1.3427 after the recovery faltered near 1.3500. On the upside, the recovery needs to find acceptance above 1.3500 to take on the previous support now resistance at 1.3559. The next significant resistance awaits...
( 1.1910 - 1.1880 ) - Strong resistance poses a serious challenge to the upside momentum. odds of a downturn near 1.1800 can't be rule out. The corrective pull back will have to cross 1.1920 to convince buyer for another battle.
resistance confluence 1827-1832, poses a serious challenge to the down side momentum. if have a fail beak out at here, a opportunity for seller, target 1805 or 1785. Opposite this resistance is broken out, buyer may be continue long Gold, 1875- 1850 become crucial level to watch
USD/CAD defends 1.2600 amid downbeat oil prices, sluggish markets. USD/CAD holds onto the previous day’s recovery from a fortnight low while picking up bids to 1.2617 during Wednesday’s Asian session. => Moving on, US employment-related data and ISM Manufacturing PMI for August will be important for the near-term market direction ahead of Friday’s jobs report. +...
130 - 130.33 is strong resistance zone that poses a serious challenge to upside momentum. Seller may soon return if the pair have a fail break out. => May be short at price 130 or 130.33. target 129.20 or 128.50. Stoploss 130.60.
Gold consolidates the heaviest daily jump in two weeks around monthly top. Fed Chair Powell teased tapering but timing, rate hike concerns favored bulls on Friday. XAU/USD could target $1,830 next ahead of NFP + gold keeps upside break of the key 1,808-10 support confluence, previous resistance. + However, any further upside will be challenged by the last month’s...