Gold Fell to Support But Unlikely to Turn Higher Soon
The price of gold fell to a new nine-month low on Tuesday, at one point falling below $1725. In the region of $1720-1740, gold has been finding support in the declines of the last 15 months, and the daily charts...
AUD/USD: Aussie Hits New 2-Year Low on Fresh Risk Aversion
Australian dollar accelerated lower on Monday, driven by fresh risk aversion that inflated its US counterpart. The Aussie hit new two-year low and generate strong bearish signal on break through important Fibo support at 0.6758 (50% retracement of 0.5509/0.8007, 2020/2021...
WTI Oil Price Dips on Renewed Demand Worries
WTI oil price eases on Monday, after last Thu/Fri strong recovery stalled on attempts through daily Tenkan-sen (104.55). Oil came under pressure on renewed demand concerns after China had discovered first cases of Omicron variant and ordered mass testing for...
Euro Oversold, But Far from a Final Sell-off
The single currency fell to 1.0071 in the early European session on Friday. For EURUSD, it is a new low since December 2002 and a continuation of the massive sell-off that started last Tuesday. Looking solely at the technical picture,...
Dollar Index: Dollar Accelerates Higher, Eyes Fresh Support from US Job Report
The dollar index resumes a steep ascend after a brief pause on Thursday, boosted by strong safe-haven demand on economic and political uncertainty. The index hit new highest since Oct 2002 and eyes pivotal Fibo barrier at 109.14 (76.4% of...
XAU/USD: Bears Taking a Breather but Gold On Track for the Fourth Straight Weekly Drop
Spot gold stands at the back foot on Friday and holding in extended consolidation above new multi-month low ($1732) but holding bearish bias. The metal is on track for the fourth consecutive weekly drop, with this week’s fall being the...
GBPJPY Seeks an Upside Reversal, But Bears Still Present
GBPJPY finished Thursday’s session comfortably in the green zone after refusing to close below the 162.00 round level once again. Simultaneously, the bullish action seems to have confirmed Wednesday’s hammer candlestick pattern – an encouraging sign that the balance may change in...
EURGBP Wave Analysis
EURGBP broke key support level 0.8500 50 Likely to fall to support level 0.8430 EURGBP currency pair recently broke the key support level 0.8500 (which stopped the previous waves a and (4), as can be seen below). The breakout of...
EURGBP: Bears Need Penetration of Daily Cloud to Resume
The cross extends a steep fall into third consecutive day and cracks significant support at 0.8501 (top of thick ascending daily Ichimoku cloud). Bears accelerated on Wednesday after a bullish signal was generated on break of trendline support at 0.8584...
EURCHF Exposed to Further Selloffs as it Hits 7½-Year Low
EURCHF tumbled to a fresh seven-and-a-half year low of 0.9875 on Wednesday, extending the sharp selloff that began on June 9. The momentum indicators are deep in negative territory so further losses are likely in the near term. However, there...