Dollar’s Best Rally in 18 Months Will Stall Without Catalyst Looking into the dollar’s backdrop, there is little of the fundamental motivation we would normally expect the currency to advance on. Without a turn in speculative appetites, groundswell in the market’s rate forecasts or material drop in other majors; the dollar’s rally is ...
Talking Points GBP/USD breaks key long-term support levelUSD/JPY nearing critical resistance areaGold meanders Price & Time Analysis: USD/JPY USD/JPY continues to edge higher off the 101.50 78.6% retracement of the July rangeOur near-term trend bias is higher in the exchange rate while above 101.50The 61.8% retracement ...
Gold has been consolidating in a descending triangle this week after it found resistance at about 1322. Note the bullish bias in the 1H chart. 1) Price was bullish at the end of last week, so the prevailing trend in the 1H chart is bullish before it consolidated this week. 2) Price is for the most part trying to stay above the 200-, 100-, and 50-hour simple moving averages, which would reflect a bullish market. 3) Price broke above the descending triangle resistance today. ...
Gold Monthly Technical Analysis for August 2014 Nearby Comex Gold futures closed lower for July and near the low of the month, suggesting more selling pressure may be coming in August. The short-term view shows a market that is very sensitive to U.S. economic data and not too much to geopolitical events. With the improving U.S. economy slowly moving the Fed towards an interest rate hike in 2015, some of the uncertainty that has been supportive for gold has been lifted. ...
US Dollar Rally at the Mercy of Volatility, Interest Rate Trends The Dow Jones FXCM Dollar Index (ticker = USDollar) mounted its biggest rally in six months this past week. That is a serious reversal of fortune from the technical collapse the currency was facing in the first half of July. Yet, the transition from rebound to full-blown ...
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