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US Dollar Forecast: EUR/USD Recovery Fizzles Ahead of Monthly High

EUR/USD holds below the monthly high (1.0781) as it struggles to extend the recovery carried over from last week.

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Gold Short-term Outlook: XAU/USD Bulls Pounce on 2K Test

Gold prices are attempting to mark a five-day rally with the bulls trying to build on rebound off support. Battle lines drawn on the XAU/USD short-term technical charts.

Energy

Crude oil analysis – February 21, 2024

Technical levels and factors on Brent discussed in this article, ahead of the publication of global PMIs and crude inventories data, which could provide catalyst for a potential breakout.

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FTSE analysis: Disparity between UK and European stocks grows larger

HSBC and Glencore shares drop on disappointing earnings, although the overall positive appetite for global stocks and China’s latest efforts to shore up its stock market keeps the FTSE’s downside limited, as attention turns to the upcoming earnings results from Nvidia after the close.

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GBP/USD, EUR/USD Forecast: Two trades to watch

GBP/USD holds above 1.26 ahead of the FOMC minutes. EUR/USD holds above 1.08 as it waits for Fed minutes, eurozone consumer confidence.

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If USD/CNH is the canary in the coalmine, USD/JPY might be in trouble

A bearish reversal pattern has formed on USD/CNH which implies a move down to 7.10. And if the yuan continues to strengthen, it could see the yen follow and scupper USD/JPY attempt at breaking 152.

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USD/JPY forecast: 151 seems plausible, 152 may be a stretch

USD/JPY is clinging to 150 despite the weaker US dollar on Tuesday, as there seems little reason for traders to bid the yen. And unless we receive a compelling reason to buy then yen via a surprisingly hawkish BOJ or broad risk-off environment, it becomes difficult to construct an overly bearish case for USD/JPY whilst the Fed remain quiet about rate cuts.

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Gold rises on renewed Fed-cut bets, crude oil falters at resistance

Soft inflation figures from Canada and a poll of economists backing a June Fed cut sent gold higher on Wednesday, as traders refreshed their dovish bets. Crude oil has also faltered once more at a key resistance area.

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US Dollar Forecast: AUD/USD on Cusp of Testing Monthly High

AUD/USD is on the cusp of testing the monthly high (0.6610) as it stages a five-day rally.

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By : David Song
Yesterday 02:25 PM
Bank notes of different currencies

US Dollar Majors, Gold, Oil, S&P 500, Dow Weekly Technical Outlook

Sr. Technical Strategist Michael Boutros highlights the targets & invalidation levels that matter on the technical charts into the weekly-open.

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Euro Price Outlook: EUR/USD Re-Tests 200-DMA at Two-Week-High

EUR/USD bears were stifled at fresh three-month lows last week, and now the pair has pulled back for a re-test of its 200-day moving average.

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Gold analysis: Short-term outlook remains murky despite bounce

Given that the odds of rate cuts have been trimmed by hotter inflation data last week, this is increasing the opportunity cost of holding gold over bonds. Therefore, the short-term gains could evaporate soon. Gold is more likely to hit new records closer to time of rate cuts, though.

Research

DAX outlook: German index aims to reach new highs

What has driven the German index to record highs and can the rally persist? US investors are back, with Nvidia earnings coming into focus this week. DAX technical analysis shows index is testing key support.

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USD forecast: Positioning hints at headwinds for USD, 2-year yield

Short bets against the US 2-year yield continue to diminish yet remain at a sentiment extreme. And as the yield flatlined above 5% in 2023 despite aggressive short positioning, it suggests its yield may struggle to retake 5% this time around. And that could prove to be a headwind for the USD.

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February 19, 2024 09:49 PM
Currency exchange rate board of multiple currencies

NZD, AUD take the lead in quiet trade but USD may not be done yet

NZD/USD and AUD/USD were the strongest pairs on Monday during quiet trade, but the USD shows the potential to bounce before a larger move lower, which could eventually allow AUD/USD to reach for 66c.

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February 19, 2024 05:12 PM
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GBP/USD drifts lower amid a lack of data

GBP/USD struggles around 1.26, holding onto last week's losses. The pair could continue to drift lower amid a quiet UK economic calendar. This week, US FOMC minutes and UK services PMI data will be in focus.

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February 19, 2024 10:54 AM
Currency exchange rate board of multiple currencies

USD/CAD analysis: Currency Pair of the Week – February 19, 2024

The USD/CAD will be among the busier of major currency pairs in what will likely be relatively quieter week, at least in so far as macro data is concerned. Given the closure of US markets for Presidents' Day and the majority of major data releases already published in preceding weeks, the week ahead will present few noteworthy macroeconomic highlights, aside from a select few.

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EUR/USD, FTSE 100 Forecast: Two trades to watch

EUR/USD inches higher but lacks conviction. FTSE 100 struggles as miners fall.

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February 19, 2024 04:55 AM
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DAX analysis: How long will the rally continue?

The German index hit another record high on Friday, but the risk of a potential correction in tech sector is increasing. For now, the DAX continues to point higher, which means the bears must continue to wait for the right signal.

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February 18, 2024 05:00 AM
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GBP/USD Vulnerable amid Failure to Close Above 50-Day SMA

GBP/USD may struggle to retain the advance from the December low (1.2500) amid the failed attempt to close above the 50-Day SMA (1.2671).

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By : David Song
February 17, 2024 01:00 PM
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Gold Price Forecast: XAU/USD Bulls Respond to First 2024 Test Below $2k

Gold has been resilient so far in 2024 even as USD strength re-appeared. The big question now is whether bulls can find a more favorable outcome on tests of resistance at $2,032 or $2,050.

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February 16, 2024 09:00 PM
Market trader analysing data

Nasdaq Rallies, USD Pulls Back After 'Flipped Out' Comment

Inflation remains high in the U.S. economy, but equity bulls seem undeterred, helped along by a continued dovish stance from Fed officials despite fears of inflation entrenchment.

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US Dollar Technical Forecast: USD Rally Fizzles at Resistance

US Dollar is poised to mark a fourth weekly rally with DXY now testing a key pivot zone at former support. The Levels that matter on the weekly technical chart.