David Song

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US Dollar Forecast: USD/JPY Bull Flag Under Threat with Fed on Tap

USD/JPY appears to be negating a bull-flag formation as it tumbles to a fresh weekly low (146.07).

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By : David Song
January 31, 2024 12:35 PM
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US Dollar Forecast: EUR/USD Halts Six-Day Selloff Ahead of US NFP

EUR/USD bounces back from a fresh monthly low (1.0755) to halt a six-day selloff.

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By : David Song
December 7, 2023 02:05 PM
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USD/CAD Fails to Defend April Low Ahead of Fed Rate Decision

Developments coming out of the Federal Reserve may sway the near-term outlook for USD/CAD as it fails to defend the April low (1.3301).

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By : David Song
June 13, 2023 12:38 PM

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AUD/USD Forecast: Post-RBA Rally Eyes May High

AUD/USD may attempt to test the May high (0.6818) as it carves a series of higher highs and lows.

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By : David Song
June 12, 2023 03:22 PM
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Gold Price Outlook Hinges on Fed Rate Decision

The price of gold may track the monthly range ahead of the Fed rate decision on June 14 as it pulls back from a fresh weekly high ($1973).

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By : David Song
June 9, 2023 02:04 PM
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USD/JPY Ranges in Ascending Channel After Failing to Test May High

USD/JPY may consolidate ahead of the Fed rate decision on June 14 amid the failed attempt to test the May high (140.93).

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By : David Song
June 8, 2023 03:16 PM
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EUR/USD Outlook: June Opening Range Intact For Now

EUR/USD may struggle to retain the rebound from the May low (1.0635) if it fails to defend the monthly opening range.

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By : David Song
June 7, 2023 12:02 PM

USD/CAD Forecast: BoC Interest Rate Decision Takes Spotlight

The Bank of Canada (BoC) interest rate decision may prop up USD/CAD as the central bank is anticipated to keep the benchmark interest rate on hold.

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By : David Song
June 6, 2023 01:15 PM

AUD/USD Susceptible to Failed Test of 50-Day SMA

The recent rebound in AUD/USD appears to be stalling ahead of the 50-Day SMA (0.6663) as it struggles to extend the series of higher highs and lows from last week.

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By : David Song
June 5, 2023 02:50 PM
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USD/JPY Post-NFP Rebound Puts June Opening Range in Focus

The post-NFP rebound puts the opening range for June in focus as USD/JPY snaps the series of lower highs and lows from earlier this week.

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By : David Song
June 2, 2023 02:25 PM
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Gold Price Rebound Brings Test of 50-Day SMA

Failure to trade back above the 50-Day SMA ($1992) may undermine the recent rebound in the price of gold as the moving average no longer reflects a positive slope.

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By : David Song
June 1, 2023 01:07 PM

USD/CAD Rate Outlook Rests on Test of April High

USD/CAD may stage further attempts to test the April high (1.3668) as it snaps the series of lower highs and lows from last week.

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By : David Song
May 31, 2023 12:46 PM
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EUR/USD Forecast: All Eyes on Euro Area CPI, US Jobs Report

Key data prints coming out later this week may sway EUR/USD as both the ECB and FOMC continue to combat inflation.

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By : David Song
May 30, 2023 01:28 PM

USD/JPY Forecast: RSI Flashes Overbought Signal for First Time in 2023

The move above 70 in the Relative Strength Index (RSI) is likely to be accompanied by a further advance in USD/JPY like the price action from last year.

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By : David Song
May 26, 2023 04:02 PM
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AUD/USD Breaches March Low to Bring November Low on Radar

AUD/USD may continue to pare the advance from the November 2022 low (0.6272) as it clears the March low (0.6565).

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By : David Song
May 25, 2023 01:30 PM
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USD/CAD Rate Climbs Above 50-Day SMA to Eye Monthly High

USD/CAD may continue to retrace the decline from the monthly high (1.3640) as it climbs back above the 50-Day SMA (1.3529).

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By : David Song
May 24, 2023 12:00 PM
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Gold Price Forecast: Bullion Susceptible to Test of April Low

The price of gold may attempt to test the April low ($1950) amid the failed attempt to trade back above the 50-Day SMA ($1991).

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By : David Song
May 23, 2023 02:00 PM

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NZD/USD Rate Outlook Hinges on RBNZ Rate Decision

The RBNZ interest rate decision may keep NZD/USD afloat as the central bank is expected to further embark on its hiking-cycle.

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By : David Song
May 22, 2023 02:00 PM
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USD/JPY Rally Fizzles with RSI Reversing Ahead of Overbought Zone

Developments in the RSI raises the scope for a larger pullback in USD/JPY as the oscillator reverses ahead of overbought territory.

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EUR/USD Outlook: Break of April Low Pushes RSI Toward Oversold Zone

EUR/USD extends the series of lower highs and lows from the start of the week to take out the April low (1.0788).

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By : David Song
May 18, 2023 02:16 PM
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Gold Price Vulnerable After Failing to Defend Monthly Opening Range

The price of gold registers a fresh monthly low ($1975) as it carves a series of lower highs and lows.

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By : David Song
May 17, 2023 12:24 PM
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USD/JPY Reverses Ahead of Monthly Low to Eye 200-Day SMA

USD/JPY approaches the 200-Day SMA (137.04) after bouncing back ahead of the monthly low (133.50).

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By : David Song
May 15, 2023 01:48 PM
Energy

Oil price outlook mired by failure to test 50-Day SMA

The price of oil appears to be reversing course ahead of the May high ($76.69) amid the failed attempt to test the 50-Day SMA ($75.14).

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By : David Song
May 12, 2023 12:10 PM