Euro revisits monthly low against US Dollar in countdown to Fed's policy
Euro revisits monthly low against US Dollar in countdown to Fed's policy
Market narrative
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Euro revisits monthly low against US Dollar in countdown to Fed's policy
Forex
Pound-Dollar could recover if the Bank of England strikes a hawkish tone, although Fed guidance remains a key risk. The Pound to US Dollar (GBP/USD) exchange rate gave back early gains on Monday as renewed hopes for a Middle East ceasefire reduced demand for the safe-haven US Dollar, although Sterling also struggled to find support ahead.
AUD/USD Price Forecast: Slides to 0.6970 after failing to clear 38.2% Fibo. hurdle
EUR/JPY Price Forecast: Holds position above nine-day EMA near 186.00
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold weakens as geopolitics support USD ahead of FOMC meeting
Silver Price Forecast: XAG/USD falls to near $57.50 despite easing Fed hike bets
If price continues higher and breaks above the July 27 2026 high then trade setup is cancelled and if price breaks below the July 27 2026 low without tapping the 4H FVG then trade setup is cancelled.
Looking at the 4-hour chart, the pair settled below 1.3400, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a drop below the 50% Fib retracement level of the upward move from the 1.3140 swing low to the 1.3555 high.
Pound Sterling Price News & Forecast: GBP/USD declines as the US Dollar holds firm
Gold Price Forecast: XAU/USD looks vulnerable as focus shifts to the Fed meeting
PBOC sets USD/CNY reference rate at 6.7928 vs. 6.7911 previous
Gold declines despite easing concerns over inflation, interest rate hikes
The US dollar shrugged off crude oil's sharp decline following reports of renewed US-Iran negotiations, highlighting underlying demand for the greenback ahead of this week's FOMC meeting. With markets pricing a growing chance of further Fed tightening, attention now turns to Chair Kevin Warsh's guidance and whether DXY and USD/JPY can extend their bullish trends.
Silver shows early signs of a short-term bounce, but the broader downtrend remains intact as price approaches key resistance and faces confirmation hurdles.