FX

Gold holds above the range support at 1,975 cementing Monday’s bullish case towards 1,980. Short term analysis hints to a bullish scenario upon opening the session on Monday. Gold consistently corrected higher in July to the extent of closing on the all-time highs. However, the rally has also had its fair share of losses and

After a volatile week, the S&P 500 closes 1.73% higher and 0.77% in the black on Friday. There is a key support/resistance level at 3,159.50 that the price closed above. S&P 500 line chart It has been an interesting week for equities as some traders and investors remain unhappy that the US administration cannot agree on

Sustained selling around the USD assisted gold to catch some fresh bids on the last day of the week. A positive opening in the US equity markets prompted some profit-taking amid overbought conditions. Gold reversed a major part of its early positive move to all-time highs and has now retreated to the lower end of

AUD/JPY sellers attack 75.00 after taking a U-turn from a three-day-old falling trend line. China’s July month official PMIs flashed better than forecast data, Aussie PPI weakened for Q2. A confluence of 200-HMA, 38.2% Fibonacci retracement adds to the upside barriers. AUD/JPY drops to 75.19, down 0.20% on a day, during the early Friday. The

Some banks in the European Union may face losses on leveraged loans in the pandemic-hit economy, the EU’s banking watchdog, the European Banking Authority (EBA), said on Thursday. “Banks may end up unable to offload leveraged loans,” the EBA warned, as reported by Reuters. “Boards of banks should fully assess exposures to leveraged loans.” Market

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GBP/JPY gained some positive traction for the third consecutive session on Wednesday. The momentum pushed the cross further beyond a three-day-old ascending channel. The lack of follow-through, overbought RSI on the 1-hourly chart warrant some caution. The GBP/JPY cross edged higher for the third consecutive day and jumped to near one-week tops, around the 136.45

GBPUSD eases from 1.252, the highest since early-March, towards 1.2900. Overbought RSI conditions, resistance line of a bullish chart pattern favor the Cable’s further weakness. 200-bar SMA adds to the support, 1.3000 becomes the key for the further upside. GBP/USD recedes to 1.2925 during Wednesday’s Asian session. The pair refreshed the highest since March 13

USD/JPY drifts into the negative territory for the fourth consecutive session on Tuesday. A pullback in the US bond yields, dovish Fed expectations capped the attempted USD bounce. Investors now eye second-tier US economic data for some short-term trading opportunities. The USD/JPY pair dropped to its lowest level since March 13, with bears now awaiting

GBP/USD eases from 4.5-month high flashed the previous day. Overbought RSI conditions, nearby resistance line favor sellers. A confluence of 200-day SMA, 61.8% Fibonacci retracement is the key support. GBP/USD recedes to 1.2880 during the initial hour of Tokyo open on Tuesday. The Cable refreshed the highest levels since March 11 on Monday. Though, overbought

USD/JPY remained under some heavy selling pressure for the third straight day on Monday. Concerns about rising COVID-19 cases, sliding US bond yields continued undermining the USD. Mixed US Durable Goods Orders data did little to ease the heavily offered tone around the USD. The USD/JPY pair maintained its heavily offered tone through the mid-European

 Australia Victoria state expected to report 532 new cases of coronavirus, according to the Herald Sun. Australia Victoria to take longer than current lockdown period to slow virus, Reuters reported. Key notes May take longer than six weeks to flatten curve as virus now ‘embedded’ within community. Deputy chief medical officer Coatsworth warns. AUD/USD update AUD/USD

Here is what you need to know on Monday, July 27: Dollar’s sell-off extended into the weekly close, as risk-aversion was unable to trigger flows to the American currency. Tensions between the US and China, and the coronavirus developments in the world’s largest economy, were the main reason behind the greenback’s weakness. According to weekend

USD/JPY has dipped below 106.00 to trade 0.83% lower on Friday. The recent consolidation has been very strong and there has finally been a break. USD/JPY daily chart USD/JPY has been a very boring currency pair for a while and it seems to have livened up on Friday afternoon. Interesting that this move comes when

The DXY is 1.72% lower over the week as the index continues to fall on Friday. The US continues to struggle with the COVID-19 pandemic and a multitude of issues. Dollar Index weekly chart The dollar’s spectacular demise is continuing into the end of the week. The greenback has even lost ground against the Japanese

The dollar sells off into the close as USD/CHF and USD/JPY sell-off into the close. This all makes for a very interesting lead into next week. EUR/USD weekly chart The EUR/USD weekly chart is coming up to a massive resistance zone. This is not the only FX pair moving to a major level as the

USD/CAD pair is posting modest daily gains on Friday. US Dollar Index continues to push lower below 95.00 ahead of US data. Crude oil rebounds modestly following Thursday’s sharp drop. The USD/CAD pair dropped to its lowest level since June 10th at 1.3349 on Thursday but closed the day flat above 1.3400 as falling crude

USD/CAD fails to extend U-turn from 1.3351 beyond 1.3417. Bullish MACD raises fears of the channel break and attack to 200-HMA. An eight-day-old falling trend line adds to the upside barrier. June low becomes the key support holding gates for 1.3200. USD/CAD seesaws near 1.3400 during the early Friday’s Asian session. The loonie pair bounced