David Song
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EUR/USD forecast: uptick in Euro Area core CPI expected
The update to the Euro Area’s Consumer Price Index (CPI) may fuel the recent rebound in EUR/USD as the report is anticipated to show sticky inflation.
NZD/USD susceptible to negative slope in 50-Day SMA
NZD/USD may track the negative slope in the 50-Day SMA (0.6294) as it struggles to retain the advance from the yearly low (0.6085).
AUD/USD rate forecast: bear flag takes shape
AUD/USD may track the negative slope in the 200-Day SMA (0.6759) as a bear flag takes shape.
Oil price rebound pulls RSI out of oversold territory
Recent developments in the Relative Strength Index (RSI) raises the scope for a larger rebound in the price of oil as the oscillator climbs above 30 to indicate a buy signal.
Gold price forecast: RSI sell signal emerges
The price of gold may face a larger pullback as the Relative Strength Index (RSI) falls back from overbought territory.
USD/CAD faces Canada CPI ahead of Fed rate decision
The update to Canada’s Consumer Price Index (CPI) may prop up USD/CAD as the report is anticipated to show a further slowdown in inflation.
EUR/USD rate continues to defend January low
EUR/USD may stage a larger rebound as it continues to hold above the January low (1.0483).
NZD/USD fails again to test monthly high
NZD/USD approaches the weekly low (0.6137) after staging another failed attempt to test the monthly high (0.6276).
AUD/USD rate outlook mired by failure to test 200-Day SMA
AUD/USD appears to be reversing course ahead of the 200-Day SMA (0.6768) as it fails to clear the week high (0.6717).
Gold price rallies as SVB failure casts doubt for Fed rate hikes
Developments coming out of the US may keep the price of gold afloat as the update to the US Consumer Price Index (CPI) is anticipated to show slowing inflation.
USD/CAD 2022 high remains on radar as RSI holds in overbought zone
USD/CAD may stage further attempts to test the 2022 high (1.3978) as the Relative Strength Index (RSI) holds in overbought territory.