Gold prices fell to a nearly two-year low amid a rise in the Dollar index to a 20-year record. Quotes for December contracts on the New York Mercantile Exchange in trading on Monday fell to $1647, which is about 0.50%. We can assume that rising government bond yields and a rising dollar index are the main bearish factors pushing the futures to continue their bearish trend … [Read more...]
GbpUsd failed to stay above the pandemic low
GbpUsd failed to stay above the 1.15 pandemic low and after it dropped under this support, the pair literally tumbled with a drop of 1k pips in just a few days. The Asian open was in 1985 low and I expect this low to offer support for the pair in the coming weeks or even months. In conclusion, for a swing trader, the 1.04-1.05 zone could be a good place for buying and 1.15 … [Read more...]
EurUsd to trade in a range for the next period
Last week I said that the next obvious support for EurUsd is the 0.95 zone and, although I didn't expect such a quick drop to that zone, the pair touched it on Asian open. In my opinion, at least for now, there is a high probability of a button and dips to that zone should be bought. I expect from EurUsd to trade in a range for the next period and 0.95- 0.99 could be the … [Read more...]
USDJPY is making new highs
The USDJPY is making new highs on the Fed Funds rate update, but on the retest we see a strong fall. The Bank of Japan will not change the key parameters of the monetary policy at the meeting on September 21-22 despite the strengthening of inflation in the country. The desire of the Japanese bank to maintain a soft monetary policy runs counter to the Federal Reserve … [Read more...]
USDCAD I see a retest of the resistance level
On the chart, from a technical perspective, we see a retest of the resistance level that was last tested in September 2020. Within the distributive movement after the breakdown of the ascending channel and the momentum of 3.5% we see the formation of a false breakdown and the consolidation of the price under the resistance zone . I assume that before the news release the … [Read more...]
GOLD Global Chart
GOLD Global Chart. On the chart I marked the global price range, which, last week, was broken through. The price has been in this range since 2020. The price is testing the global lows and is entering the critical area, the liquidity zone, and I think that in the global perspective, the reaction of the price is not immediate, the market will move the price as deep as … [Read more...]
USDJPY continues to rise
USDJPY continues to rise. The Japanese yen is struggling as the 2-year US Treasury bond yield hit a new peak of 3.901% on Friday The Bank of Japan will meet this week and it is unlikely that it will sanction a rate hike. Consequently, the Japanese currency will be hit even harder by the rising interest rate differential. Most experts believe the Federal Reserve will raise … [Read more...]
GOLD continues its fall
GOLD continues its fall We see the metal price continues to decline and this time the price breaks through the local lows and forms a consolidation in the short zone - the next target is the 1677 zone On the chart I have marked the important moments, such as the attempts of the price to test and reverse for the energy gain, the retest without the possibility to renew the … [Read more...]