XAU/USD: Rises on Growing Uncertainty But Bulls Look for More Evidence to be Validated
Spot gold edged higher on Wednesday after three days in red, boosted by risk aversion on lower stocks, political uncertainty and fears of recession, as raging inflation hurts economies while major central banks raise interest rates to curb rising prices...
USD/JPY: Bulls Pausing Under New Multi-Year High Before Fresh Push Higher
The USDJPY is taking a breather under new 24-year high on Wednesday, as overbought conditions prompt some profit-taking after the pair advanced 3.3% in past three days and traded at levels last seen in 1998. Overall picture shows bulls fully...
NZDUSD Eyes June’s Lows as Bears Regain Control
NZDUSD resumed its slide on Wednesday, bringing the key 0.6335 – 0.6195 bottom area back under the spotlight after a four-day-long unsuccessful battle with the red Tenkan-sen line. The RSI and the MACD remain negatively charged within the bearish zone,...
GBPUSD Rebounds Off 27-Month Low But SMAs Act as Strong Resistance
GBPUSD has reversed back up again after finding support at the 27-month low of 1.2070, achieved last week, but the current momentum is still weak. The technical indicators are pointing to a neutral to negative bias in the short term...
US Dollar Index Outlook: Dollar is Set for Further Advance
Bulls are consolidating under new two-decade high but remain in play and position for further advance. The dollar is supported by strong Fed rate hikes and hawkish stance that signals further action, as well as safe-haven demand on economic and...
WTI Oil Outlook: Worries of Economic Slowdown Weigh on Oil Prices
WTI oil edged higher on Friday following strong downside rejection on Thursday, but the structure remains fragile, due to demand concerns, fueled by worries that recent rate hikes by major central banks and particularly aggressive Fed, would lead to economic...
EUR/USD Technical Analysis 17th June 2022
The Euro started a decent increase from the 1.0380 support zone against the US Dollar. The EUR/USD pair traded above the 1.0420 resistance to start an upward move. There was a clear move above a key bearish trend line with...
USD/JPY Outlook: Returns to Strength after Shallow Pullback
The dollar regained traction and bounced on Friday, after two-day pullback from new highest since 1998 was contained by Fibo support at 132.05 (38.2% of 126.36/135.57 upleg. The sentiment for yen was soured by today’s Bank of Japan’s decision to...
EUR/USD Outlook: Near-Term Risk Shifts Lower after Thick Daily Cloud Capped Recovery
The Euro turned to red on Friday after recovery on Wed/Thu was capped by the base of thick daily cloud (spanned between 1.0566 and 1.0767)) and dollar returns to strength after hawkish Fed and BoJ remaining on hold. The action...
GBP/USD Outlook: Cable Remains Volatile and Looks for Clearer Direction Signals
Cable eases in early Friday, following strong rebound in past two days which lost traction at the first strong obstacle at Fibo 38.2% of 1.3147/1.1933 descend, denting initial signal of reversal. Sterling was boosted by BOE’s rate hike by 25...