WTI Oil Outlook: Weekly Close Above Key Fibo Barrier Is Needed To Signal Bullish Continuation
Oil price steadies on Friday as hurricane shut most of the US oil production in the Gulf of Mexico, but gains were limited as storm passed through the area without causing substantial damage to refineries. Near-term sentiment remains overall positive,...
Next up for the Federal Reserve: Convincing the markets it can do what it says it will do
Getty Images Now that Federal Reserve officials have sent a clear message on their desire for higher inflation, the tough part is convincing the world that they can pull it off. For the past decade, the Fed has struggled to...
EUR/USD Nears 1.20 As Dollar Extends Decline
The EUR/USD climbed above the 1.19 handle this morning after breaking above Thursday’s high, before easing back down a little. The weakness for the dollar also helped to support buck-denominated precious metals, with gold shining brightly as it tested $1955...
XAU/USD Outlook: Gold Built A Base At $1920 But Recovery Needs More Signals For Confirmation
Spot gold advanced 1.4% on Friday after dovish signals from Fed that ultra-low rates would stay for prolonged period, sent dollar lower. The yellow metal’s price was congested for more than one week, awaiting signals from Jerome Powell. After the...
USDJPY 106.00 Key
The US dollar has slipped sharply lower against the Japanese yen currency, following the resignation of the Japanese Prime Minister. USDJPY bulls now need to defend the 106.00 support level to avoid a drop towards the 105.80, and possibly the...
EURUSD Bullish Above 1.1890
The euro currency has staged a powerful breakout above the 1.1900 level against the US dollar as the pair enjoy strong buying interest. Technical analysis shows that the EURUSD pair has a strong short-term bullish bias while trading above the...
USD Index Outlook: Dollar Accelerates Lower After Markets Digested Powell’s Message
The dollar was sharply lower vs its major counterparts on Friday (down 0.8% since Asian opening), following Thursday’s bumpy ride after Powell announced new Fed’s measures, coming under increased pressure after markets digested news. New Fed’s approach to monetary policy...
EUR/JPY Analysis: Bullish Momentum To Continue
Upside risks have dominated the single European currency against the Japanese Yen since Thursday’s trading session. The currency pair has surged by 159 points or 1.27% during the past 24 hours. Bulls are likely to continue to pressure the exchange...
AUD/USD Analysis: Buying Signals
The Australian Dollar has surged by 83 points or 1.16% against the US Dollar since Thursday’s trading session. The currency pair tested the upper boundary of an ascending channel pattern on Friday morning. All things being equal, the exchange rate...
Oil Retreats, Gold Volatility Continues
Oil Stays on Summer Holidays Brent and WTI both retreated overnight, moving both contracts back into range-trading no-man’s land. A stronger US dollar and higher US yields capped price increases, with the coup de grace administered by the relatively uneventful...
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