EUR/USD Targets Fresh Lows, Dollar Recovers
Key Highlights EUR/USD failed to surpass 1.1900 and declined heavily. It broke a major bullish trend line at 1.1800 on the 4-hours chart. GBP/USD also declined below the 1.3900 support zone. The US nonfarm payrolls increased 943K in July 2021,...
Gold – Can it Recover from NFP Blow?
Jobs report a severe blow for gold It feels a long time ago since gold was rallying on the back of a poor ADP number and expectations that it may signal a weaker jobs report and nudge the Fed in...
GBPJPY Edges Sideways As Advances Curbed By 50-MA
GBPJPY is presently stuck between the 50- and 100-day simple moving averages and directional momentum appears to have become feeble. The 200-day SMA is backing the positive structure, while the 50- and 100-day SMAs are endorsing a more neutral trajectory...
GBPUSD Bearish Bias
Technical analysis The four-hour time frame shows that the GBPUSD pair has formed a large inverted head and shoulders pattern, although a final drop may need to happen to complete the structure of the pattern. The MACD indicator on the...
EURUSD Bullish Bias
Technical analysis The EURUSD pair has formed a notable inverted head and shoulders price pattern on the four-hour time frame, with an upside target of nearly 150 points. The Stochastic indicator on the four-hour time frame is approaching overbought territory...
Gold Supported Prior To NFP
Gold made a small breakout yesterday, but it is supported prior to the NFP. We might see a move up before the NFP. The main even the Nonfarm Payrolls will determine the move in gold. However, we might expect a...
XAG/USD Tests Psychological Support
Silver falls as US treasury yields inch higher ahead of the jobs report. The rally above 25.40 had prompted sellers to cover, but the bulls have met stiff selling pressure at 26.00, a former support that has turned into a...
US 30 Consolidates Gains
The Dow Jones 30 consolidates as traders await today’s NFP. A new high above 35100 indicates that the bulls are still in control. Though profit- taking ahead of this catalyst has driven the index to the support at 34700. Sideways...
GBP/USD Seeks Further Support
The pound bounces higher on BOE’s upbeat inflation forecast for later this year. The rally above the daily resistance level at 1.3900 is a strong sign that buyers are willing to commit. A bullish MA cross on the daily chart...
BOE Slightly More Hawkish than Expected; GBP/USD
Although the BOE didn’t change monetary policy today, they did hint how they will proceed moving forward in terms of removing QE. The Bank of England left rates unchanged at 0.1%, as expected, and voted 7-1 to leave the bond...