DXY adds to recent weakness and challenges 106.00. A further move towards the 105.00 area is still well underway. The US Dollar Index (DXY) extends the weekly correction lower and briefly breaks the 106.00 zone on Tuesday. Continued selling pressure should expose a deeper pullback to initially the August low near 105.00 (Aug 2). This […]
Tag: Technical analysis
Silver Price Analysis: XAG/USD looks poised to continue higher and aims to reclaim the $21.00 level
Silver trades in a tight range and consolidates its recent gains to a multi-week high. The overnight break through the 50/50% DMA confluence of the Fibonacci level favors the bulls. Any significant drop could now be seen as a buying opportunity and remain short-lived. the silver it consolidates the strong gains of the previous day […]
Gold Price Forecast: XAU/USD remains above 50-day moving average near $1800
Gold price is holding on to recent gains and remains near $1800. The weakness of the dollar offsets the rebound in Treasury yields. With no impact data on Tuesday, the focus is on US inflation on Wednesday. The price of gold rose modestly on Tuesday and traded in a small range amid calm financial markets. […]
EUR/JPY Price Analysis: Further rallies likely in the short term
EUR/JPY extends recovery to around 138.00 on Tuesday. Further up is the 55-day average around 139.50. EUR/JPY continues to rise and is already above the 138.00 zone on Tuesday for the sixth consecutive session. Considering the ongoing price action, it seems likely that the cross will continue to rise for the time being. That said, […]
AUD/USD Defends 100-Day SMA Amid China-Taiwan Troubles
AUD/USD remains lower amid risks hanging over China and Taiwan. Rising copper and iron ore prices, combined with a weakening dollar, cap AUD losses. Bulls remain hopeful while above the 100-day SMA and ahead of key US inflation data. AUD/USD trades slightly below 0.7000, struggling for a clear directional move amid cautious risk sentiment, broad […]
GBP/USD Price Analysis: Pulls back from daily highs, steady around 1.2080
GBP/USD trims some of last Friday’s losses but remains stuck between the 20-50 DMA. The daily chart shows the pair in a descending channel as sellers watch the 20-day EMA. The GBP/USD 4-hour chart shows the pair with a neutral bias to the downside and could test the 1.2000 figure in the near term. The […]
EUR/USD Price Analysis: Firm rallies look likely above 1.0300
EUR/USD looks to continue moving north above 1.0200. Additional gains are expected once 1.0300 is broken. EUR/USD embarks on a decent recovery on Monday after Friday’s sharp pullback. The August high at 1.0293 (Aug 2) looks like the magnet for the bulls at the moment. By breaking above this level, the pair is expected to […]
EUR/JPY Price Analysis: The next target on the upside is the 55-day SMA
EUR/JPY extends its recovery to 138.00 on Monday. Further above, the intermediate 55-day SMA now emerges around 139.50. The EUR/JPY still in recovery mode and already flirting with the 138.00 zone at the beginning of the week. Given the ongoing price action, it seems likely that the cross will continue to rise for the time […]
USD/JPY Price Analysis: Pullback from 1-week highs, downside looks limited
The USD/JPY pair has seen a modest pullback from the one-week highs reached this Monday. Pullback in US bond yields keeps dollar bulls on the defensive and acts as a headwind for the pair. The divergence in policy from the Fed and the Bank of Japan should help limit the decline amid a bullish technical […]
Silver Price Analysis: XAG/USD Jumps Back Above $20.00
Silver regains traction on Monday and reverses a major part of Friday’s decline to a one-week low. The bulls still need to wait for a move beyond the confluence region at $20.30-35 before opening aggressive positions. A convincing break below the $19.20 support zone would nullify any short-term positive outlook. Silver attracts some buying near […]
