AUD/USD: Key Supports Under Pressure as Aussie Remains Weighed by Soured Risk Sentiment
The AUDUSD remains in red and pressuring key supports at 0.6761/58 (new two-year low, posted yesterday / 50% retracement of 0.5509/0.8007 rally). Soured risk sentiment on growing recession fears that boosted demand for safe-haven dollar, keep the Aussie dollar in...
GBPUSD Adopts Neutral Status above 2-year Low
GBPUSD formed a tiny neutral candlestick on Monday above Friday’s closing price of 1.2087 and below the nearby 1.2170 resistance territory. The refusal to return to the two-year low of 1.1932 could be a rosy sign that buyers are absorbing...
Gold Price Analysis: Too Much Pressure
The Gold prices reached stability on Monday not far from $1,812 per troy ounce. The strong American currency still puts much pressure on the precious metal. Despite the significant market turbulence, demand for Gold as a “safe haven” asset is...
XAU/USD Outlook: Gold Dips Below $1800, on Track for the Third Consecutive Weekly Drop
Spot gold price fell below $1800 level on Friday, on fresh bearish acceleration that extends into fifth straight day. The yellow metal came under pressure from higher dollar, as well as prospects of higher interest rates in the US and...
XAG/USD Outlook: Silver Drops Below $20 for the First Time in Two Years
Spot silver broke through psychological $20 support for the first time in two years and hit the lowest since July 2020 on Friday. The metal remains under increased pressure for three months on global economic and geopolitical turmoil which threatens...
GBPJPY Bears Take Charge; Eyes on 50-SMA
GBPJPY sharpened its downturn below the 20-day simple moving average (SMA) and a key support trendline on Friday, tumbling to a two-week low of 163.24. The price is also set for a close below the 23.6% Fibonacci retracement of the...
WTI Oil Futures Falter But Still Supported
WTI oil futures (August delivery) turned red after failing to close above the 20-day simple moving average (SMA) and the 50% Fibonacci retracement of the $130.50 – $92.19 downfall at $111.35/barrel on Wednesday. The latest pullback could gain new legs...
USD/JPY: Dollar Takes a Breather after Hitting New 24-Year High vs Yen
The USDJPY eases from new highest (137.00) since 1998, posted on Wednesday, as dollar loses traction on concerns that economic growth slowdown and possible recession may shorten Fed’s tightening cycle, that signaled traders to take profits. Larger uptrend remains intact...
USDJPY Aims for an Uptrend Resumption; Caution Detected
USDJPY managed to gain fresh buying traction around the resistance-turned-support area of 134.42 last week, with the price currently looking to extend its broad uptrend above the 20-year high of 136.70. Although the clear positive slope in the simple moving...
Gold Storms to Fresh Lows as Negative Momentum Strengthens
Gold has been in a sustained downtrend after it failed to cross beyond the 1,857 region. Moreover, in the past few four-hour sessions, the price has dived beneath both 50- and 200-period simple moving averages (SMAs) and is currently battling...