Gold Price Analysis: XAU/USD remains supported near $1860 as data shows US price pressures easing.

Gold is around 0.5% higher in the $1860 area in wake of US Core PCE data.The data lent support to the idea that inflation is easing, which may remove pressure on the Fed to tighten. Spot gold (XAU/USD) prices saw a mixed, fairly subdued reaction to the latest US inflation data for April that supportedContinue reading “Gold Price Analysis: XAU/USD remains supported near $1860 as data shows US price pressures easing.”

GBP/USD Price Analysis: Exceeds 38.2% Fibo retracement and 200-EMA, 1.2700 eyed.

A bullish reversal has been triggered as the asset has overstepped 38.2% Fibo retracement.The asset is comfortably balancing above the 200-EMA.The RSI (14) has shifted into a 60.00-80.00 range, which adds to the upside filters. The GBP/USD pair is sensing a mild selling pressure near 1.2660 after a vertical upside move in the Asian session.Continue reading “GBP/USD Price Analysis: Exceeds 38.2% Fibo retracement and 200-EMA, 1.2700 eyed.”

EUR/USD hits fresh daily highs above 1.0720 on risk appetite.

US dollar remains weak, but losses are limited.Wall Street rises sharply, US yields at fresh 2-day highs. EUR/USD short-term outlook is bullish, and faces resistance at 1.0730 and 1.0750. The EUR/USD rose further during the American session and printed a fresh daily high at 1.0729. It then pulled back, staying above 1.0700. The euro isContinue reading “EUR/USD hits fresh daily highs above 1.0720 on risk appetite.”

Gold Price Analysis: XAU/USD slides back to mid-$1850s, eyes 200DMA pre-Fed minutes.

Weak US Durable Goods Orders data has failed to spur a gold rebound as traders await Fed speak/minutes.XAU/USD was last trading lower by over 0.5% in the mid-$1850s, with the bears eyeing a retest of the 200DMA. Though weaker than expected just-released US Durable Goods Orders data for April saw long-term US yields hit freshContinue reading “Gold Price Analysis: XAU/USD slides back to mid-$1850s, eyes 200DMA pre-Fed minutes.”