There is quite a bit of data yet for publication over the course of the week. As liquidity is likely to be thin, the fluctuation in USD could be quite pronounced, Antje Praefcke, FX Analyst at Commerzbank, reports. Do not ignore the screens … [Continue reading]
AUD/USD Price Analysis: Retreats from 200-SMA as bears brace for 0.6580
AUD/USD takes a U-turn from intraday high as the key SMA probes recovery. Failure to cross key hurdles, downbeat oscillators favor sellers. Bears eye late November swing low, 50% Fibonacci retracement level. One-month-old previous support line adds … [Continue reading]
Gold Price Forecast: XAU/USD grinds higher, United States Consumer Confidence, Treasury bond yields eyed
Gold price seesaws around weekly top after rising the most in three weeks. United States Treasury bond yields underpinned US Dollar’s biggest daily fall in a week and propelled XAU/USD. Gold buyers also cheered receding fears of recession, hopes for … [Continue reading]
GBP/USD Price Analysis: On track for strongest quarterly gain against USD since 2009
GBP/USD is coming to a peak in a coil which puts to an imminent breakout. The emphasis is currently on a test of 1.2080 for the coming sessions. If the bears fail to break this level of support, then a meaningful correction to the upside will be on … [Continue reading]
Tron price steady as early 10% pennant breakout could be underway
Tron price printed a new high for the week. TRX gets tailwinds after the Bank of Japan tweaked its yield curve. In a strange move, cryptocurrencies are outpacing equities on Tuesday. Tron (TRX) price jumped higher on Tuesday in the ASIA PAC session … [Continue reading]
GBP/USD Forecast: Pound Sterling needs to reclaim 1.2200 to turn bullish
GBP/USD has been fluctuating in a tight range above 1.2100. Pound Sterling could attract buyers if it manages to clear 1.2200. US Dollar stays under bearish pressure following BOJ event. GBP/USD has extended its sideways grind above 1.2100 into the … [Continue reading]
GBP/USD Price Analysis: Pierces through monthly key support with eyes on 200-SMA
GBP/USD takes offers to refresh intraday low, pokes short-term key support line. Sustained trading below 100-SMA keeps sellers hopeful of visiting 200-SMA. Two-week-old horizontal area restricts immediate upside before the monthly high. GBP/USD … [Continue reading]
AUD/JPY Price Analysis: Grinds near 92.00 post-RBA Minutes, inverse H&S teases bulls ahead of BOJ
AUD/JPY grinds higher even as RBA Minutes fail to impress traders. RBA Minutes stated that policymakers discussed all options, eyed further rate hikes. Inverse Head-and-Shoulders pattern, impending bull cross on MACD lure buyers. 200-SMA, weekly … [Continue reading]
AUD/USD Price Analysis: Bulls are moving in with eyes on a 61.8% Fibonacci retracement towards 0.6800
AUD/USD bulls are waiting patiently for a change of character in the market structure. Bulls eye a test of 0.6800 for the days ahead while bears await confirmation of a downside opportunity. As per a prior analysis, AUD/USD drops … [Continue reading]
EUR/USD to enjoy further toward the 1.0788 May high, then 1.0892/1.0944 – Credit Suisse
EUR/USD’s strength has stalled near-term. Nevertheless, economists at Credit Suisse stay bullish for the 1.0788 May high, then the 50% retracement of the 2021/2022 downtrend at 1.0944 EUR/USD weakness stays seen as corrective “Resistance is seen … [Continue reading]