Gold Price Forecast: XAUUSD flirts with daily low, seems vulnerable near $1,830 area.

Gold once again faced rejection near 200-DMA and has now filled the weekly bullish gap.The risk-on impulse and rising US bond yields acted as a headwind for the commodity.The emergence of some USD dip-buying further contributed to the intraday selling bias. Gold continued with its struggle to make it through the very important 200-day SMAContinue reading “Gold Price Forecast: XAUUSD flirts with daily low, seems vulnerable near $1,830 area.”

EUR/USD: Failure to defend 1.0340 to open up parity .

EUR/USD has extended its downtrend after breaking below the trend line drawn since 2000. This violation has led the pair towards the lows of 2016/2017 near 1.0340. A break under here would open up additional losses towards 1.0070/1.0000, analysts at Société Générale report. Break above 1.0790/1.0810 essential to affirm a phase of rebound.“The neckline atContinue reading “EUR/USD: Failure to defend 1.0340 to open up parity .”

GBP/USD Price Analysis: Recaptures critical trendline resistance at 1.2275.

GBP/USD bulls are fighting the bearish odds, re-attempting the upside. GBP/USD is moving back and forth in a 40-pips narrow range so far this Friday, now attempting another bounce towards 1.2300. The renewed upside in the major is fuelled by a bout of weakness seen in the US dollar across its main peers, as riskContinue reading “GBP/USD Price Analysis: Recaptures critical trendline resistance at 1.2275.”

Gold Price looks to retest $1,850 as risk aversion propels USD ahead of Fed.

Gold Price eases from five-week high to consolidate the biggest daily jump in a month. Gold Price (XAUUSD) retreats from a three-week-old resistance line as risk-aversion underpins the US dollar’s safe-haven demand. That said, the yellow metal’s latest weakness could be linked to the jump in the hawkish Fed bets, as well as China’s covidContinue reading “Gold Price looks to retest $1,850 as risk aversion propels USD ahead of Fed.”