This is what you need to know to trade today Thursday May 26: Markets appear to have turned cautious early on Thursday ahead of the release of key US data. The dollar index is trading in a relatively tight range above 102.00 after Wednesday’s bounce and US stock index futures are down 0.3-0.7% in early […]
Tag: Commodities
Gold Price Prediction: XAU/USD drops to three-day lows near $1840
Gold pulls back from weekly highs around $1,870 as investors brace for May Fed minutes. The greenback continues to rise, despite falling US bond yields, which weighs on the XAU/USD price. Gold Price Forecast (XAU/USD): If it breaks above $1,870, the precious metal will head towards $1,890; Otherwise, a retest of the 200 DMA is […]
Gold Price Forecast: XAU/USD pulls back from two-week highs
A combination of factors causes some selling around gold on Wednesday. The rebound in dollar demand weighs on the precious metal amid positive risk sentiment. Recession fears could help limit deeper losses ahead of the FOMC minutes. The Prayed has seen some sales on Wednesday and has broken a five-day winning streak until reaching a […]
Forex Today: Dollar remains resilient ahead of key US data and FOMC Minutes
This is what you need to know to trade today Wednesday May 25: Pressured by falling US Treasury yields, the greenback continued to weaken against its rivals on Tuesday. However, the market’s risk-averse environment helped the dollar index limit its losses. Early on Wednesday, the dollar is holding firm against its main rivals, pending April […]
Silver Price Analysis: XAG/USD Bears in Control, Rising Wedge Breakout in Play
Silver price gains some positive traction on Tuesday, although there was no continuation buying. The breakout of the rising wedge favors the bears and supports the prospects for further losses. Sustained strength beyond the $22.25 confluence is needed to negate the bearish outlook. On Tuesday, silver has attracted some buying near the $21.65 area and […]
WTI Price Analysis: SMA 50 in 4 hours defends the drop before the API
WTI price is reversing a drop to 108.00 amid risk aversion. Holding above the 50 SMA on the 4-hour chart is critical for oil bulls. The RSI defends the midline and supports the bulls ahead of the API data. The WTI (NYMEX futures) is attempting a bounce back above the $109.00 levelafter finding strong buying […]
Gold Price Forecast: XAU/USD Holds on to Gains Near $1,860 Amid Falling Yields
Gold price extends a five-day rally amid a broadly weakened US dollar. Risk aversion and falling Treasury yields fuel XAU/USD gains. A daily close above the 21-day SMA is key to further rallies. The price of gold (XAU/USD) is returning to the highest levels in two weeks, while the bulls continue to receive support from […]
Forex Today: Risk Rally Loses Flight, Spotlight on PMI Data and Powell Speech
This is what you need to know to trade today tuesday may 24: Markets appear to have turned cautious early on Tuesday, following Monday’s risk rally. The dollar index, which lost nearly 1% at the start of the week, posts small daily gains near 102.20 in European morning and US stock index futures are down […]
Forex Today: Dollar Sell-Off Continues as Markets Remain Risk-Friendly
This is what you need to know to trade today Monday May 23: After posting weekly losses for the first time since early March last week, the US dollar index remains on the warpath early Monday, with the greenback struggling to find demand in a risk-friendly market environment. . Market participants will closely watch the […]
AUD/USD tests the 21 DMA at 0.7050
AUD/USD has rebounded from a previous test of 0.7000 and is testing its 21 DMA around 0.7050. The Aussie is receiving tailwinds from global equity and commodity markets, as well as strength from the yuan following the PBoC’s surprise rate cut. The AUD remains vulnerable if risk appetite deteriorates and the dollar rises again, with […]
