AUD/USD Forex Technical Analysis – Strong Upside Momentum Could Trigger Breakout Over .6236

Trader reaction to .6097 to .6236 should set the tone for the AUD/USD on Monday. We’re looking for a potential acceleration to the upside through .6236 if traders continue to dump U.S. Dollars.

The Week Ahead – Coronavirus Updates and Hectic Economic Calendar to Keep the Markets Busy

It’s a particularly busy week ahead. Economic data, Brexit negotiations, and updates on the coronavirus will continue to keep the markets on edge.

NZD/USD Forex Technical Analysis – Set-Up for Breakout Over .6074

On Friday, the NZD/USD closed in a position to challenge the upper level of the retracement zone at .6074. Given the momentum into the close, we’re likely to take out this level, perhaps triggering an acceleration to the upside.

USD/JPY Forex Technical Analysis – Major Support Cluster at 106.706 to 106.450

The USD/JPY settled at 107.977 on Friday. This puts it slightly under the Fibonacci level at 108.008. If the Forex pair continues to move lower then look for a test of the support cluster at 106.706 to 106.450. This is the area that traders should be watching.

Is Gold Mirroring 1999 to 2011 Again?

Today, we are writing about a pattern our research team is seeing in the Gold/Silver ratio which is correlated to the price movement of Gold.  What does this mean and how can we profit from this setup?

Gold Price Futures (GC) Technical Analysis – Needs to Hold $1610.50 – $1580.40 to Sustain the Rally

The upper or Fibonacci level at $1610.50 stopped the selling last Wednesday and Thursday. This is the level to watch next week. Holding above it will indicate that buyers are coming in to support the market even at elevated price levels.

EUR/USD Forex Technical Analysis – Near-Term Strength Over 1.1167, Sellers Return Under 1.1066

Over the short-run, look for the EUR/USD to strengthen on a sustained move over 1.1167, and weaken on a sustained move under 1.1066.

Gold Price Prediction – Prices Pause and are Poised to Refresh Higher

Gold Weekly Price Forecast – Gold Markets Have Strong Week But Give Back Some Of The Gains

Gold markets shot straight up in the air during the week, reaching as high as $1700 yet again, but has also pulled back a bit from that level in order to show signs of resistance still.

Gold Miners Update – Gold Miners May Be Topping

As a technical analyst, I monitor support and resistance, looking for optimum reversal levels. The gold miners are in the perfect spot for a top – are they about to turn lower? I think they are.

USD/CAD Daily Forecast – U.S. Dollar Tries To Rebound As Oil Plunges

USD/CAD tries to rebound on oil price weakness but this attempt is met by increased selling pressure at 1.4150.

Gold Price Forecast – Gold Markets Continue to Consolidate

Gold markets have plunged during the trading session on Friday, reaching down towards the $1615 level. That being said, there is a significant amount of support underneath and at this point it’s very likely we simply continue the overall consolidation.

British Prime Minister Boris Johnson has coronavirus — what happens when a world leader tests positive?

British Prime Minister Boris Johnson has tested positive for coronavirus but will continue to lead the nation’s response to the pandemic from self-isolation.

USD/JPY Weekly Price Forecast – US Dollar Pulls Back Against Japanese Yen For The Week

The US dollar initially tried to rally during the week but found the downtrend line to offer a bit too much resistance, not to mention the fact that the ¥112 level has been a scene of selling pressure previously as well.

U.K. stocks hammered as coronavirus cases spiral higher and Boris Johnson tests positive

U.K. stocks were hammered on Friday bringing a three-day rally to an abrupt end as global coronavirus cases spiralled and prime minister Boris Johnson tested positive.

GBP/USD Weekly Price Forecast – British Pound Has Strong Week

The British pound initially pulled back during the week but found enough support at the 1.15 level to cause a significant bounce. At this point, the market is trying to wipe out the losses from the previous week.

GBP/JPY Weekly Price Forecast – Reddish Pound Rallies From Extreme Lows

The British pound has rallied during the week, bouncing from the candlestick that had been so negative during the previous week. The ¥130 level seems to be holding as support so far.

EUR/USD Weekly Price Forecast – Euro Slaves Into Major Figure

The Euro slammed into the 1.10 level during the week, showing signs of exhaustion in that region. Ultimately, it looks as if the market is still going to respect to some of the same levels again.

AUD/USD Weekly Price Forecast – Australian Dollar Continues to Show Confusion

The Australian dollar initially tried to pull back during the week but then broke above the 0.60 level. During the day on Friday though, we started to see weakness creep back into this pair, showing just how tentative rallies are going to be.

Gold Forecast – The Real Bottom Should Come in May

I’m very bullish on gold long-term and believe prices are going much, much higher. But in the meantime, I think we need to be careful.

USD/JPY Price Forecast – US Dollar Crashes Into Support

The US dollar has pulled back against the Japanese yen against the overall uptrend that we have recently seen. Quite frankly, I believe at this point it’s likely that we are going to continue to see a lot of back and forth trading.

GBP/USD Price Forecast – British Pound Stalls

The British pound went back and forth during the trading session on Friday as the market seem to have run into a bit of resistance. If you’ve been following my analysis, you know that I had suggested that the 1.2250 level would cause a few headaches.