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 invades 1.0760 ahead of US PCE, DXY renews monthly lows.

EUR/USD has renewed its monthly highs at 1.0765 on the soaring market mood. Rising odds of a rate hike by the ECB have supported the euro bulls.The DXY has extended its losses after slipping to the weekly low at 101.65. The EUR/USD pair is advancing sharply higher on broader weakness in the greenback. The pairContinue reading “EUR/USD invades 1.0760 ahead of US PCE, DXY renews monthly lows.”

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.”