USD/ILS to Seven-Year High; Gold, Oil Rally as Geopolitical Tension Jumps
Markets started the week on edge as geopolitical tensions have increased, leading to a bounce in both gold and oil prices.
US Dollar Fresh 2023 Highs as Yields Drive the DXY Trade
US Treasury yields have shot to fresh highs after last week’s FOMC meeting and this has helped the US Dollar to continue it’s bullish trend after ten consecutive weeks of gains to set a fresh 2023 high. US Dollar bulls have awoken in Q3 as 10-year yields drive to fresh 15-year highs.
USD/JPY, EUR/JPY, GBP/JPY: Pullbacks Ahead of the BoJ
It’s been a big week for global markets and it’s not over yet, with the Bank of Japan rate decision scheduled for later today.
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Euro Price Outlook: EUR/USD Support Bounce Ahead of Inflation, FOMC
EUR/USD has been selling off since setting its current high two months ago and it’s a big week for the pair as European inflation data leads into the FOMC rate decision on Wednesday.
US Dollar Technical Forecast: EUR/USD, GBP/USD, Gold, USD/JPY
The focus shifts to the Fed next week, with the big question as what the bank sees on the horizon for the rest of the year. US data has remained hot but there are minimal expectations for any actual moves next week.
Gold Prices Test Key Support as USD Strength Drives to Fresh Highs
Gold prices are testing a massive spot of support above the 1900 handle, even as the US Dollar jumps to fresh highs. Can gold bulls turn a support test into a swing?
USD/JPY: Resistance Holds at 147.69 as Intervention Threat Remains
USD/JPY bulls have remained persistent even with a rising risk of intervention out of Japan, but a line in the sand has appeared.
Pre-CPI US Dollar Price Action Setups: EUR/USD, Gold, USD/JPY
The US Dollar is holding near resistance ahead of high-impact data, with tomorrow’s CPI release followed by the Thursday ECB rate decision, and then next week’s FOMC meeting.
Canadian Dollar Technical Analysis: USD/CAD Pulls Back from Key Resistance
The bullish move in USD/CAD has been pronounced after the pair bottomed in July, but now the question of topping starts to come in as a major resistance level has come back into the picture.
Euro Technical Analysis: EUR/USD, EUR/JPY Primed for ECB Day
EUR/USD has sold off for eight consecutive weeks and even EUR/JPY looks like it has potential to put in a turn. Will the European Central Bank rescue bulls with another rate hike this Thursday?
USD/JPY Breakout Continues as EUR/JPY, GBP/JPY Stall
The USD/JPY breakout has continued even after an intervention threat, but both EUR/JPY and GBP/JPY have shown stall in those bullish trends over the past month, raising questions of reversal potential.
Mexican Peso Technical Analysis: Is the Tide Turning in USD/MXN?
While USD strength has been the rage in many FX markets, the same can’t be said in USD/MXN where Banxico rates have kept the carry driving the short side of the pair for much of the past two years. But now there’s the threat of reversal.
Brazilian Real Technical Analysis: USD/BRL, EUR/BRL
EUR/BRL hit a Fibonacci support level on Wednesday that led to a bounce, but USD/BRL bears have driven to a fresh yearly low and deeper into a longer-term support zone.
Pre-FOMC US Dollar Technical Outlook: EUR/USD, GBP/USD
The next few days are loaded with headline drivers and the USD is in the spotlight for the June rate decision, with the Fed expected to skip rate hikes at this meeting.
Euro Price Outlook: EUR/USD Snaps Back Ahead of NFP
EUR/USD fell hard and fast, but a reversal starting on the final day of May has so far held through June. Can EUR/USD bulls make this into anything more than a pullback?
Japanese Yen Technical Analysis: USD/JPY Recoils Back Below 140
The trend in USD/JPY has started to bend and the dip in US Treasury Yields has been notable, but is there also anticipation of change around the Bank of Japan?
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY, USD/CAD, Gold
The US Dollar has put in a big move over the past three weeks – but can it continue?
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Euro Price Outlook: EUR/USD Plunge Prods for Support
EUR/USD sellers have started to take control, but the move has priced in very quickly with a fresh low showing ahead of a long holiday weekend in the United States.
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
The US Dollar has continued to show strength and EUR/USD is testing a key spot of support at 1.0750. Can Dollar bulls continue to drive FX trends?
Euro Price Outlook: EUR/USD Support Test, Prior Resistance
EUR/USD had started to trend lower over the past couple of weeks but has since run into a key spot of support. Can sellers continue to push for a fresh trend?
Euro Price Outlook: EUR/USD indecision at resistance, US CPI on the way
EUR/USD has held at resistance through April and into May and last week’s loaded calendar led to a doji on the weekly bar for the pair. US CPI is on deck as the next major USD driver.
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, AUD/USD
It was a busy week in the headlines, but the US Dollar has stuck to its recent range, as did EUR/USD, even as GBP/USD tests a fresh breakout.
US Dollar Price Action Setups into NFP: EUR/USD, GBP/USD, USD/CAD
The US Dollar has continued in a range-bound fashion this week but notably, hasn’t yet taken-out double bottom support. But there remains some heavy headline risk on the docket for Friday trade.