Share: Natural Gas price edges lower on Thursday, albeit lacks follow-through selling. The technical setup favours bulls and supports prospects for additional gains. A break below the overnight swing low is needed to negate the positive outlook. … [Continue reading]
Gold Price Forecast: XAU/USD bears run out of steam near $1,920 despite Fed Powell’s hawkish testimony
Share: Gold Price remains defensive near the lowest level since March, jostles with three-week-old support. Federal Reserve Chairman Jerome Powell advocates for further rate hikes and weighs on XAU/USD price. Economic, geopolitical fears … [Continue reading]
EUR/GBP Price Analysis: Soars following UK inflation release, eyes key technical levels
Share: EUR/GBP tests 20-day EMA ahead of challenging the 0.8600 figure. Oscillators portray buyers gaining momentum in the near term; long-term, further EUR/GBP downside is expected. The EUR/GBP YTD low at 0.8518 could be the next support. EUR/GBP … [Continue reading]
EUR/USD Price Analysis: Upside bias alleviated below 1.0800
Share: EUR/USD keeps the inconclusive price action well in place. Further weakness could retest the 55-day and 100-day SMAs. EUR/USD keeps the range bound theme in place above 1.0900 on Wednesday. Despite the current inconclusive price action, … [Continue reading]
Gold Price Forecast: XAU/USD looks vulnerable above $1,930 US yields seem well-supported
Share: Gold price is expected to extend its downside journey below $1,930.00 ahead of Fed Powell’s testimony. Investors are eager to know whether Fed Powell would choose a 50 bps rate hike or a data-dependent approach. Gold price is on the edge of … [Continue reading]
USD/JPY Price Analysis: Extends bounce off 141.40 support confluence within rising wedge
Share: USD/JPY picks up bids to reverse the previous day’s retreat from the highest levels in seven months. Upside break of immediate resistance line, firmer oscillators favor intraday buyers of Yen pair. 100-HMA joins bottom-line of weekly rising … [Continue reading]
US President Biden calls Chinese counterpart Xi Jinping “a dictator”
Share: “US President Joe Biden on Tuesday called Chinese President Xi Jinping a dictator, adding that Xi was very embarrassed when a Chinese balloon was blown off course over the US recently,” said Reuters early Wednesday in Asia. The news also … [Continue reading]
Forex Today: US Dollar bulls fight back
Share: What you need to know on Wednesday, June 21: The US Dollar kept grinding higher on Tuesday as the market mood soured on fears that Chinese economic growth has lost momentum. The focus now shifts to Federal Reserve Chairman Jerome Powell's … [Continue reading]
USD is on the cusp of turning lower – TDS
Share: The USD declined last week, adding to a string of losses seen over the month of June. Economists at TD Securities analyze the greenback outlook. USD will drop later in H2 We continue to think the USD is on the cusp of turning lower but have … [Continue reading]
Dollar will come lower in the second half, but timing is everything – ING
Share: Economists at ING see the US Dollar trapped between two stories. US Dollar is trapped between inverted curves and rallying equities There has been little follow-through from the US Dollar selling we saw late last week. … [Continue reading]