USD, Platinum and Palladium Forecasts: Resistance Still Holds the Cards
Markets continue to follow the roadmap we've been discussing over the past few sessions.
Market narrative
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Markets continue to follow the roadmap we've been discussing over the past few sessions.
Forex
Precious metals markets are under strong pressure as traders focus on inflation risks.
The latest trading sessions continue to show weakness in the Japanese yen. This dynamic is reflected in USD/JPY, which has ga.
EUR/USD Price Forecast: Bears target a break below 1.1350 support
The American currency is moving higher as oil prices soar amid rising tensions in the Middle East.
Pound Sterling Price News and Forecast: GBP/USD slides as Gulf War risk fuels US Dollar rally
XAU/USD Price forecast: Gold trims gains, dips to $4,050
Gold price falls as $100 Brent, a 4.70% 10-year yield and 80% September hike odds put $4,000 in play.
USD/CAD technical analysis shows the Canadian dollar stalling in a tight range after an eight of nine week rally, with a clean breakout now in focus. Michael Boutros, Senior Market Analyst at FOREX.com, walks through the USD/CAD setup across the weekly, daily, and four-hour charts and the levels that matter most.
It's been a rollercoaster of a year for the Euro so far, as the Iran war brought a bid to the currency in April, driven by inflation expectations going higher due to energy prices. The thought there was an energy-vulnerable Europe would be forced into higher prices which would then filter through into other products, and that led to a stronger Euro.
Gold managed to retreat again after Houthi militants said they attacked two Saudi Arabian tankers in the Red Sea, escalating the Middle East conflict and threatening deeper supply disruptions. As we see over the intraday chart, market closing from support 4040 zone which may give chance for rebound movement Below 4040 a risk for farther […]
As we see from our previous chart, USDJPY managed to pass above the short-term resistance zone of 161.95 which shows a strong advance still ongoing. Prices fell toward 160.50-70 on the suspected intervention before bouncing back.
GBPUSD managed to pass above the resistance of 1.3430 to meet the target of 1.3510 and above. As we see from the chart, a chance for a trading zone between support 1.3320-50 and resistance 1.3555 could hold the market.
EURUSD retreat and closing again from support zone 1.1380 which still holding market above it As long as market holding trades above 1.1380 the chance for another advance still likely Below 1.1380 more of a drop could hit the market with supports at 1.1310 and 1.1210. SUPPORT RESISTANCE LEVEL1 1.1380 1.1500-25 LEVEL2 1.1310 1.1625 LEVEL3 […]
USD/CAD recently printed out green bars earlier this week but the Canadian dollar is mounting a comeback that could resume the downside.
The gold market dropped early on Thursday as the overall consolidation area continues to be a major area of importance in the market. Higher rates continue to be a massive problem, though.
The silver market has pulled back early on Thursday, as we continue to see a bit of volatility in this market. Higher rates continue to be a thorn in the side of traders.
Euro weakens as ECB stays on hold while Middle East tensions boost the US Dollar
Gold Price Forecast: XAU/USD pulls back below $4,100 weighed by higher US yields
Gold falls as Middle East tensions lift Oil prices, Fed rate hike bets