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.
Euro Price Outlook: EUR/USD Breakdown Pulls Back as USD Holds 105
Euro bears have been persistent so far this year, but they’ve also shown a degree of hesitancy on tests of fresh lows as the longer-term range remains in-play.
U.S. Dollar Price Action Webinar: DXY, Gold, Bitcoin, FX Majors
The U.S. Dollar set another fresh high yesterday, extending the bullish structure that’s priced in so far this year.
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U.S. Dollar Post-CPI: EUR/USD, GBP/USD, USD/JPY, XAU/USD (Gold)
The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.
Canadian Dollar Technical Forecast: USD/CAD, CAD/JPY
USD/CAD continues to hold a range inside of a range, but CAD/JPY is bristling at resistance after having set a fresh 16-year high last week.
Japanese Yen Technical Forecast: USD/JPY, EUR/JPY, GBP/JPY
Yen weakness has come rushing back in early-2024 trade, but U.S. and U.K. CPI could provide a jolt to FX trends in USD and GBP, which could produce some change in both USD/JPY and GBP/JPY.
Gold Price Forecast: XAU/USD Sets the Stage for 2024 at Multi-Year Resistance
Gold is holding on to a near 12% gain in 2023 but it’s the position on the chart and the backdrop of monetary policy that’s of interest for 2024.
British Pound Technical Analysis: GBP/USD Breakout After 1.2500 Test
The Bank of England seems an outlier at this point as they remain one of the more hawkish Central Banks and GBP/USD is driving to a fresh three-month high after the FOMC and BOE rate decisions.
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.
Gold Goes Deep Oversold as XAU/USD Continues Post-Fed Snapback
Spot Gold (XAU/USD) has seen RSI drive below 20 on the daily chart, which has only happened three other times in the past 20 years.
Euro Price Outlook: EUR/USD 1.0500 Support - Oversold Bounce or Bottom?
EUR/USD put in its first daily close below 1.0500 in 2023 earlier this week. And the bearish move has started to show symptoms of stalling, raising the question as to whether this is an oversold bounce or a legitimate bottoming scenario.
US Dollar Price Action: EUR/USD, USD/JPY, SPX, Gold
It’s a market of extremes with the US Dollar pushing for its 12th consecutive weekly gain and the S&P 500 testing below a key spot of confluent support.
US Dollar Technical Analysis: USD Strength Drives into Q4
US Dollar bears took a shot after the Q3 open and failed, with USD bulls running 11 consecutive weekly gains in DXY to set a very different stage for the Q4 open.
US Dollar, FX Majors, Rates and SPX into Q4
FX volatility woke up in a big way in Q3 and with the US Dollar holding a strong bullish trend the door is open for more in Q4.
US Dollar Price Action: EUR/USD, Gold, GBP/USD, USD/CAD, USD/JPY
The US Dollar has continued an aggressive bullish breakout as yields have flown higher since last week’s FOMC. The focus shifts to US data with a big morning on the calendar for Friday.
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.