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FX Empire8 hours ago
Price of Gold Fundamental Weekly Forecast – Rapidly Approaching Value Area at $1272.70 to $1253.00
Given the plethora of this week’s U.S. economic reports, it looks as if the direction of the gold market this week is going to be controlled by the U.S. Dollar. This week, the dollar should be impacted mostly by Durable goods with Advance GDP a close second.
FX Empire23 hours ago
Gold Price Futures (GC) Technical Analysis – Failure to Hold $1272.70 Could Trigger Plunge into $1253.00
Based on the close at $1276.00 and last week’s price action, the direction of the June Comex gold market on Monday is likely to be determined by trader reaction to the major 50% level at $1272.70.
FX Empireyesterday
AUD/USD Forex Technical Analysis – Strengthens Over .7153, Weakens Under .7150
Based on last week’s price action and the close at .7151, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main Fibonacci level at .7153 and the intermediate 50% level at .7150.
FX Empireyesterday
The Week Ahead – Brexit, Earnings, Stats and Monetary Policy are in Focus
A quiet start to the week will leave the focus on earnings. What little data that is due out could have a material influence, however.
FX Empireyesterday
USD/JPY Forex Technical Analysis – Minor Shift in Sentiment Could Lead to Test of 111.507 to 111.350
Since the main trend is up and based on the close at 111.936, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the nearest uptrending Gann angle at 111.718.
FX Empireyesterday
NZD/USD Forex Technical Analysis – Lower for Year, Trading on Bearish Side of Retracement Zone at .6726 to .6767
Based on the price action the last three sessions and the close at .6687, the direction of the NZD/USD is likely to be determined by trader reaction to the uptrending Gann angle at .6687.
FX Empireyesterday
U.S Mortgages – Rate Rises Hit Refinance Applications
Mortgage rates were on the rise again to pin back refinance applications and overall loan sizes. Purchasing activity hit a 9-year high.
FX Empire2 days ago
Weekly Recap – Dollar-Denominated Commodities Pressured by Strengthening Greenback
In addition to the strengthening U.S. Dollar, gold was also pushed to near its lowest level since the end of December last week as economic data from China improved enough to relax concerns over a global economic slowdown. U.S. West Texas Intermediate crude oil and international-benchmark Brent crude oil futures looked tired all week, which could be the first sign of a top-heavy market. Natural gas futures finished the week sharply lower after a government storage report showed a slightly larger than expected build.
FX Empire2 days ago
Weekly Wrap – Risk Appetite Failed to Support the AUD, the EUR, or the Kiwi…
The Greenback found support in a week where the Aussie and Kiwi Dollar hit red and economic data out of the Eurozone and China diverged.
FX Empire2 days ago
Weekly Recap – New Zealand CPI Sinks Kiwi; Better China GDP, Domestic Jobs Data Not Enough to Save Aussie
Given the new CPI data, New Zealand economists are now predicting the Reserve Bank will cut its official cash rate from its present record low at 1.75 percent to 1.5 percent in May. Although traders are pricing in an RBA rate cut for later in the year, the employment report may have bought the central bank a little time. The AUD/USD price action suggests that traders may have increased bets the RBA will not rush to ease rates even though the broader economy has seemingly lost momentum.
FX Empire2 days ago
Forex Daily Recap – Market Stood Uninterested To Poor US Housing Data Amid Good Friday Holiday
USD/JPY sustained near the 112 levels, staying apathetic over BoJ’s bond purchase cuts. The EUR/USD showed less reaction to the greenback weakness today. USD/RUB marks day’s high near 64.05 levels.
FX Empire2 days ago
Gold Weekly Price Forecast – Gold markets fall for the week
Gold markets fell rather hard during the week, crashing into what I believe is a significant support level. It will be interesting to watch what happens next, but clearly we have seen a complete change in attitude over the last several weeks.
FX Empire2 days ago
USD/JPY Weekly Price Forecast – US dollar continues to struggle to break out
The US dollar has gone back and forth against the Japanese yen, reaching at the ¥112 level, which of course has been massive resistance. That being said, it looks as if we have work to do.
FX Empire2 days ago
GBP/USD Weekly Price Forecast – British pound falls for the week
The British pound fell during the week, crashing into the 1.30 level which of course has been supportive in the past. The market has been grinding back and forth, and at this point there are several levels we should be watching.
FX Empire2 days ago
GBP/JPY Weekly Price Forecast – British pound falls against Japanese yen
The British pound fell during the week, reaching down towards the ¥145 level. At this point, the market is trying to find a bit of a springboard underneath, but we may have a little further to go.
FX Empire2 days ago
EUR/USD Weekly Price Forecast – Euro falls for the week
The Euro fell during the week, reaching down towards the 1.12 level yet again. Now having said that it’s likely that we have a big fight on our hands just below current trading.
FX Empire2 days ago
AUD/USD Weekly Price Forecast – Australian dollar pulled back during the week
The Australian dollar initially tried to rally during the week but also gave back the gains to roll over and form a bit of a shooting star. We are starting to see resistance at an area where you would expect it, so it makes sense that we get a bit of a pullback.
FX Empire2 days ago
Gold Price Forecast – Gold markets sitting on major support
Gold markets have been sitting on major support for the last couple of trading days but were closed for Good Friday. At this point, we are at a major inflection point and could be setting up for a big move.
FX Empire2 days ago
USD/JPY Price Forecast – US dollar reaching massive resistance against yen
The US dollar continues to go sideways overall against the Japanese yen, as we head into the Easter holiday. At this point, the lack of liquidity would have made the candlestick on Friday less than impressive, but quite frankly if you look at the rest of the week, it was much the same.
FX Empire2 days ago
GBP/USD Price Forecast – British pound testing major support
The British pound has bounced slightly during a very illiquid Friday session, as most people were away celebrating the holiday.
FX Empire2 days ago
GBP/JPY Price Forecast – British pound meanders on Friday
With the lack of liquidity on Friday, the British pound didn’t do much against the Japanese yen. However, we are at a very interesting level that we should be paying attention to.
FX Empire2 days ago
EUR/USD Price Forecast – Euro bounces slightly in low volume
The Euro bounced slightly during trading on Friday as low-volume would have made this an unreliable market. We are currently trading around a major support level though, so a bounce would have course made quite a bit of sense.
FX Empire2 days ago
AUD/USD Price Forecast – Aussie rolls over
The Australian dollar initially tried to rally during the day on Friday but gave back the gains to continue the negativity that we had seen on Thursday. However, there is plenty of support underneath so the question is whether or not this will be value?
MarketWatch2 days ago
Dollar steady near 2-week high in quiet Good Friday trading
The U.S. dollar is holding near a two-week high on Friday, on what has been a quiet session for currencies with most other major U.S. and global exchanges closed for the observance of Good Friday.
FX Empire3 days ago
Gold Price Prediction – Gold Consolidates Despite Uptick in Japanese Inflation
Gold ends the week in the red