Gold fell modestly below $1,800 in early trading for the first time since early February. The bears are eyeing a test of yearly lows in the $1,780 zone following a key trend line break earlier this week. Gold (XAU/USD) dipped modestly below the $1,800 level a few minutes ago for the first time since early […]
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EUR/USD without respite, marks new lows in years below 1.0350
The euro cuts losses, but not before setting a new low against the dollar. Pressures remain firm, although for now EUR/USD managed to recover above 1.0350. The dollar loses strength as stocks rise. EUR/USD not only failed to hold above 1.0400, instead it fell to 1.0348, the new low since 2017. It then bounced higher […]
Oil: WTI rises for third day and erases weekly losses
WTI accumulates a rise of $10 from the low of the week. Better mood in the markets favors the rebound. The oil prices they rise for the third day in a row and are on track to erase weekly losses. The negative climate in the markets and the lack of resolution on the ban on […]
USD/JPY Price Analysis: Bulls looking to regain control near 129.00/23.6% Fibonacci level
A combination of supportive factors helped USD/JPY regain positive traction on Friday. The bulls, however, appear to have a hard time capitalizing on the move beyond the 23.6% Fibonacci level. Breaking below 128.00 would pave the way for a deeper corrective drop. The USD/JPY took advantage of the overnight bounce from two-week lows and gained […]
EUR/GBP hangs on to intraday gains, flirts with daily high at 0.8525 zone
EUR/GBP attracted some buying on the dips on Friday and reversed some of the sharp pullback overnight. The euro drew support from comments from ECB policymakers hinting at an interest rate hike in July. Concerns about the economic fallout from the Ukraine crisis prevented the bulls from making further bets. The crossing EUR/GBP it maintained […]
DXY Price Analysis: Bets go up for more raises
The DXY index looks to challenge Thursday’s highs near 105.00. Further upside should target the 105.60/65 region. The US dollar index (DXY) maintains the bullish bias and remains well above the 104.00 hurdle at the end of the week. Considering the current price action, further gains in the index remain on the table and with […]
Gold Price Forecast: XAU/USD Fails to Recover and Targets $1800
Metals remain under pressure, fail to gain support despite rebound in stocks. XAU/USD hits new lows after previously rising to $1,828. The dollar remains firm and treasury bond yields rise. The Prayed failed to consolidate the rebound and fell to fresh lows in months at $1808.60 on Friday. It is trading at the lows since […]
USD/CAD clings near daily low around 1.3000
A combination of factors caused some selling around USD/CAD on the last day of the week. A rebound in oil prices underpinned the loonie and put pressure on amid modest USD weakness. With US bond yields picking up, Fed rate hike bets should limit USD losses and provide support. The pair USD/CAD it maintained its […]
GBP/JPY hangs on to recovery gains around 157.30 area, lacks bullish conviction
GBP/JPY regained positive traction on Friday and recovered some of the overnight decline. The risk appetite drive undermined the safe haven JPY and extended support to the pair. A gloomy outlook for the UK economy could act as a headwind and limit any further upside. The crossing GBP/JPY it maintained its offered tone during the […]
EUR/JPY Price Analysis: Downside pressure eased above 138.30
EUR/JPY smiles again after Thursday’s sharp drop. Further gains above the May high near 138.30 are likely. After Thursday’s deep drop, EUR/JPY appears to have found some decent support near 132.60 for now. If the recovery accelerates, the cross could see bearish pressures mitigated after a close above the May high of 138.31 (May 9). […]
