Gold prices are rebounding, as the US Dollar declines on NFP data. Expectations for today’s NFP (Non-Farm Payrolls) event were set at 200k, and released better than expected at 235k. Also, January’s high was revised upwards from 227k to 238k. Technically, gold prices have found support after declining to a 76.4% Fibonacci retracement level found near $1,200.00. This line has been calculated by measuring the distance between the January ...
US Dollar Forecast: US Dollar Still in Trump Watch Mode as FOMC, Key Data Loom The US Dollar might have been encouraged to rise by supportive data flow and an optimistic Fed but lingering fiscal policy uncertainty severely complicates things. British Pound Forecast:GBP/USD to Take Cues From FOMC/BoE Interest Rate Outlook The Bank of England’s (BoE) ‘Super Thursday’ event may shake up the near-term outlook for GBP/USD should ...
Gold prices have been consolidating in sideways fashion for the past month. With limited new information from the Fed regarding the status of the next rate hike, gold prices have found a comfortable range to trade in. Technically speaking, this range could be taking the shape of a triangle. This pattern suggests we’ll look for lower levels to buy into. It is not uncommon for prices to briefly penetrate the triangle’s trend lines. Therefore, ...
US Dollar Forecast – A Late Push for the Dollar from Yellen Puts Bulls on Notice The Dollar spent much of the past week consolidating following a three-week advance, but Yellen’s remarks Friday spurred a rally that put the bulls back on the front foot. We will open the new trading week with the USDollar at a two months high but liquidity curtailed by Monday’s Memorial Day holiday. British Pound Forecast – Sterling Continues to Strengthen With Brexit Vote a Month Away ...
US Dollar Forecast – Dollar Forges Bullish Reversal but May Struggle to Maintain Lift The Greenback advanced against all of its major counterparts this past week, and the USDollar secured its strongest two-week rally since the May 2015 climb forestalled a bearish reversal. British Pound Forecast - Mixed U.K./U.S. Data to Foster Range-Bound Conditions for GBP/USD Mixed data prints coming out of the U.S. & U.K. may foster range-bound ...