Gold Price Forecast: XAU/USD needs to hold above $1,935 to avoid further losses.

XAU/USD faces stiff resistance at 38.2% Fibo level while 23.6% Fibo support could cap the losses “The next crucial support is seen at the 23.6% Fibo level at $1,935. A firm break below the latter will open floors towards the previous week’s low of $1,910. Further south, powerful support near $1,895 will challenge the bullishContinue reading “Gold Price Forecast: XAU/USD needs to hold above $1,935 to avoid further losses.”

The EURUSD runs higher but stalls near January/ February old swing lows.

Seller lean against old lows from January and February so far on the run higher. EURUSD moves up to test upside targets The ECB decision has pushed the EURUSD higher by about 80 or so pips (from low to high). In doing so the price moved to the highest level in a week. The priceContinue reading “The EURUSD runs higher but stalls near January/ February old swing lows.”

GBP/USD bears flirt with 1.3300 mark amid escalating geopolitical tensions.

GBP/USD witnessed some selling for the second successive day amid sustained USD strength.The worsening Ukraine crisis weighed on the sentiment and benefitted the safe-haven USD.The GBP/USD pair dropped to a fresh daily low during the first half of the European session, with bears now awaiting sustained weakness below the 1.3300 round-figure mark. The pair extendedContinue reading “GBP/USD bears flirt with 1.3300 mark amid escalating geopolitical tensions.”

EUR/USD: Bulls firming, eyes on M-formtion neckline before 1.1410 break.

EUR/USD is pressured in the opening session as the US dollar remains firm, with eye son US CPI.A risk-off environment could be a weight for the euro at the start of the week. EUR/USD is under pressure in the opening session this week, with China returning from holiday’s and digesting another bumpy ride on WallContinue reading “EUR/USD: Bulls firming, eyes on M-formtion neckline before 1.1410 break.”