GBPUSD’s gradual rebound from the yearly low is at test ahead of the UK Retail Sales as the pair portrays a bearish chart pattern on the four-hour timeframe. It should be noted, however, that the bullish MACD signals and firmer RSI conditions also keep the buyers hopeful. Hence, the pair traders should wait for a clear break of the wedge, currently between 1.3515...
With the risk-on mood weighing on the US dollar and Treasury yields, gold buyers battle the yearly resistance line heading into the US Retail Sales release for October. Given the overbought RSI conditions and likely negative impact of the price pressure on US consumer spending, gold prices should step back from the key hurdle around $1,870. However, a positive...
Gold keeps losses rolling for the second consecutive day, extending Tuesday’s U-turn from 200-DMA amid the initial European session on Thursday. While the descending RSI and bearish MACD favors sellers, a monthly rising support line near $1,785 challenges the commodity’s further downside. A clear break of the same will direct the quote towards the late-August...
GBPUSD takes offers around 1.3620, refreshing one-month low after UK Retail Sales for July disappointed the cable traders during early Friday. Also weighing on the quote could be the US dollar’s safe-haven demand, backed by the covid and taper tantrums. It’s worth noting that the quote’s sustained trading below 200-DMA and bearish MACD adds to the downside...
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...
Although oversold RSI conditions placate gold bears around $1,790, a sustained trading below the $1,800 threshold joins expected further recovery in the US dollar to challenge the upside momentum. However, the quote’s further declines will have to break a descending trend line from mid-January, at $1,772 now, to revisit the November 2020 low near $1,765. On a...
