After being confined to trading within a horizontal range between 0.89525 and 0.90607 since December, the Euro is quickly losing ground against the British Pound after a rising support line was breached as anticipated. Not only has EUR/GBP fallen about 2.25% since January 11th, but also the pair achieved its longest daily losing streak since October 9th (5 days). Fundamentally, this has been due to the latest Brexit developments. ...
Last week, the Euro entered consolidation mode against the British Pound after what appeared to be a false breakout above a falling trend line from August. Since then, the range of price action has solidified as traders eagerly await a breakout. The upper boundary of resistance is a horizontal range between 0.89449 and 0.89235. Meanwhile the lower border is between 0.88384 and 0.88108. There is an early warning signal that EUR/GBP's next ...
Gold at Risk for Major Break Next Week- FOMC Policy Outlook in Focus Fundamental Forecast for Gold: Neutral USDOLLAR, Gold Setups Target Key Resistance- Breakouts Pending Gold Oscillates Around 200 Day Average Gold prices are marginally higher this week with the precious metal inching up 0.18% to trade at $1291 ahead of the New York close on Friday. Bullion has held a tight range for some time now ...
Forex Weekly Outlook May 19-23 Rate decision in Japan, inflation data in the UK and Canada, FOMC Meeting Minutes, Unemployment Claims, German Ifo Business Climate and US housing data are the main events on our list. Here is an outlook on the main market-movers for this week. Last week, major US figures came out above expectations; Annual inflation reached 2%, as expected and the monthly CPI edged up to 0.3%. Meanwhile, the annual core inflation beat forecasts ...
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