On Monday, EURUSD rose past 200-SMA for the first time in a month and formed a bullish channel. However, the following pullback from 1.0197 flirts with the stated channel’s lower line near 1.0130. Following that, the 1.0100 threshold comprising the 200-SMA, could test the pair bears ahead of the key US Consumer Price Index (CPI) data for August. Hence, a recovery...
US inflation allowed EURUSD to extend the three-day uptrend towards refreshing the monthly peak, by also piercing a downward sloping resistance line from late March. However, a horizontal area comprising the 50-DMA and lows marked during May and June, around 1.0345-60, appeared a tough nut to crack for the bulls. Hence, a daily closing beyond 1.0360 becomes...
Gold remains firmer around one-month high, staying successfully above the $1,787-88 confluence comprising the 50-DMA and a five-month-old descending trend line. The same joined firmer RSI and bullish MACD signals to keep buyers hopeful of further upside. However, the $1,800 threshold could challenge the upside momentum before directing the bulls towards the...
With the major data in line that is US - CPI data which is expected to come positive the Gold is set for another bullish run .
With the falling wedge formation the support will be 1718-1720
Target 1 : 1775
Target 2 : 1805
Stop loss : 1710
Not only a downside break of the monthly bullish channel but sustained trading beneath the 100-SMA also keeps USDCAD sellers hopeful ahead of Canada’s Consumer Price Index (CPI) data on Wednesday. Adding strength to the bearish bias is the downward sloping RSI (14) since the last week. That said, the 1.2800 appears immediate support for the quote ahead of...
Gold’s failure to rebound from $1,850 joins bearish MACD signals to keep sellers hopeful as markets await the key US inflation numbers. However, a convergence of an ascending support line from August 2021 and 200-DMA appears a tough nut to crack for bearish as RSI nears the oversold territory. It should be noted, however, that a clear downside past $1,835 will...
AUDUSD rebounds from a two-month low, also snapping a four-day downtrend, by cheering a strong quarterly inflation data at home. The recovery moves could also be linked to the oversold RSI and a U-turn from 78.6% Fibonacci retracement of the January-April upside. However, the Aussie remains below the key moving averages and the Fibo levels and the MACD signals are...
EURUSD fades Friday’s rebound ahead of the key US Consumer Price Index (CPI) data for March. Steady RSI and bearish MACD signals also support the bearish bias. That said, the 1.0845-35 region offers immediate support to the currency major ahead of directing it to the latest multi-month low surrounding the 1.0800 threshold. In a case where EURUSD bears remain...
GBPUSD’s sustained break of the one-month-old horizontal resistance, near 1.3265-70, keeps buyers hopeful ahead of the UK CPI data for February. That said, a run-up towards the 200-SMA level surrounding 1.3370 becomes imminent due to the breakout and firmer MACD signals even as RSI tests the bulls. Following that, the monthly peak of 1.3436 will challenge the...
EURUSD defies a three-day recovery ahead of the key US Consumer Price Index (CPI) data on early Wednesday. The major currency pair’s weakness could also be linked to the failures to cross the 200-SMA, bearish MACD signals and RSI retreat. Hence, the quote is likely to decline further towards monthly horizontal support near 1.1525-32. However, the yearly low around...
With downbeat UK inflation figures pouring cold water on the face of BOE hawks, GBPUSD eases from 100-DMA, consolidating the previous day’s gains below 1.3800. For now, the 1.3700 mark, comprising multiple levels marked since late September, question the pair’s further weakness. Also acting as a downside filter is the ascending support line from September 30, near...
EURUSD struggles to keep rebound from monthly low ahead of the key US Consumer Price Index (CPI) data for August. Given the latest chatters over Fed tapering before the next week’s FOMC, today’s US inflation data becomes crucial for the markets. Ahead of the data, the US dollar slips and prints mild gains on the face of the EURUSD. However, failures to cross the...
Gold prices remain on the back foot amid anxious hours of early Thursday as markets wait for the ECB and the US Consumer Price Index (CPI) data. Although the ECB is less likely to become a major catalyst, the anticipated optimism of the bloc’s policymakers could offer intermediate bounce to gold prices. However, a stronger-than-expected beat of the US inflation...
The British pound touched a 3-month high earlier on Tuesday, when GBP/USD reached a high of 1.4220. In North American trade, the pair is trading at 1.4200, up 0.49% on the day.
The pound received a lift from positive UK employment numbers, which were released earlier in the day. The unemployment rate for March dipped to 4.8%, down from 4.9% and a 6-month low. The...
The Australian dollar is down slightly in the Wednesday session. In the North American session, AUD/USD is trading at 0.7747, down 0.27% on the day.
Australian CPI posted a gain of 0.6% in the first quarter of the year, down from 0.9% in Q4 of 2020. The read was certainly respectable, but underperformed, as the estimate stood at 0.9%. Trimmed CPI, which excludes...
The Australian dollar has reversed directions on Tuesday and recorded slight gains. In the European session, AUD/USD is trading at 0.7781, down 0.22% on the day.
Australian CPI showed a strong gain of 0.9% in the fourth quarter, and an identical gain is projected for the first quarter of the year. The economy is performing well, boosted by stronger demand for...
