Gold price has rallied over 10% in the past two weeks.Trust issues in banking sector continue despite the UBS takeover of Credit Suisse. Gold price bulls have been the biggest beneficiaries of the international banking crisis that has taken over the financial markets in the past week. The bright metal has rallied more than 10%Continue reading “Gold price retreats after hitting $2,000, banking issues continue.”
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GBP/USD: Weekly close below the 1.1841 January low to signal a much deeper sell-off.
GBP/USD has broken support from its recent low and 200-DMA at 1.1914/12 to turn the spotlight on the key 1.1841 January low. A weekly close below here would warn of an important bearish “double top”, economists at Credit Suisse report. Move above resistance at 1.2144/48 needed to ease immediate fears of a top “A sustainedContinue reading “GBP/USD: Weekly close below the 1.1841 January low to signal a much deeper sell-off.”
EUR/USD needs to hold key support at 1.0483/63 to avoid a top.
EUR/USD stays on course for a test of key price & 38.2% retracement support at 1.0483/63 which needs to hold to avoid a top, analysts at Credit Suisse report.Break above 1.0806 remains needed to reassert an upward bias “EUR/USD is seen on course to break its 1.0532 recent low for a test of key supportContinue reading “EUR/USD needs to hold key support at 1.0483/63 to avoid a top.”
Gold Price Forecast: XAU/USD tumbles below $1850 on elevated US bond yields.
Gold price stumbles 0.37% on Monday courtesy of higher US Treasury bond yields. US Factory Orders dropped less than estimates though market players ignored it. Traders are eyeing the appearance of the US Federal Reserve Chair Jerome Powell at the US Congress. Gold Price Analysis: Downward biased in the near term.Gold price slides 0.26% orContinue reading “Gold Price Forecast: XAU/USD tumbles below $1850 on elevated US bond yields.”
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