EUR/JPY Price Prediction: Signs of Trend Reversal Loom Amid Bearish Momentum
The EUR/JPY pair is showing increasing signs of reversing its medium-term uptrend, threatening to enter a new downtrend phase. Key technical indicators and levels suggest that bearish momentum is gaining traction, with critical support levels in focus. Key Technical Highlights: Outlook: The EUR/JPY pair is precariously positioned, with a potential break below 163.21 likely to […]
US Dollar Softens after Hitting a Fresh High on the US Dollar Index (DXY)
The US Dollar Index (DXY) surged to a year-to-date high above 107.00 as the US Dollar strengthened for a fifth straight day, driven by what’s being called the “Trump trade rally.” This rally was fueled by Republican wins in both the House and Senate, ensuring significant Congressional support for President-elect Donald Trump’s policy agenda. The […]
Gold Holds at Key Support Level amid Mixed Market Drivers
Gold (XAU/USD) hovers above the $2,600 mark on Wednesday, finding support after a recent sell-off, as US inflation data met expectations. This pause in Gold’s decline reflects a technical hold at a long-term trendline, which is maintaining support for the precious metal despite downward pressure from factors including ETF outflows, a strong US Dollar, and […]
Pound Sterling Falls on Weakening UK Labor Market and US Dollar Strength
The British Pound (GBP) has dropped against major currencies following reports of a softening UK labor market for the three months ending in September. The Office for National Statistics (ONS) revealed that the UK unemployment rate rose to 4.3%, up from 4.0% previously, exceeding expectations of 4.1%. Although wages grew faster than forecast, with earnings […]
Gold Falls Sharply Amid Strong USD, Trump Influence
Gold (XAU/USD) continues its slide, now trading in the $2,620s, over $50 below last week’s close. A stronger US Dollar (USD) is the main factor, with the Dollar Index (DXY) up nearly 0.5%. Optimism surrounding President-elect Donald Trump’s economic policies, expected to support the USD, is driving the shift. Since Gold is priced in USD, […]
EUR/GBP Continues Downward Trend
The EUR/GBP pair has continued its downward trend, breaking below its 20-day SMA and reaching multi-week lows. The technical indicators, such as the RSI and MACD, confirm the bearish sentiment, indicating increasing selling momentum. Key Technical Levels: A break below the 0.8300 level could lead to further downside potential. Traders should monitor these key support […]
Mexican Peso Recovers After Post-Election Volatility
The Mexican Peso has staged a remarkable recovery after a sharp decline following the US presidential election. Although the initial market reaction to the election results was negative, the Peso has since stabilized and even strengthened. Key Factors Driving the Recovery: Technical Analysis: While the USD/MXN pair has shown some weakness, it remains in a […]
USD/CAD Rebounds as US Dollar Strengthens
The USD/CAD pair has rebounded above 1.3900, driven by the strengthening US Dollar. The recent US presidential election results have boosted the US Dollar, as markets anticipate policies that could lead to higher inflation and interest rates. Key Factors Influencing USD/CAD: Technical Analysis: The USD/CAD pair has broken above a key resistance level and may […]
US Dollar Weakens Ahead of Election Uncertainty
The US Dollar (USD) has softened on Tuesday, with the US Dollar Index (DXY) trading below 104.00. This decline is largely attributed to the upcoming US presidential election, as markets remain uncertain about the potential outcomes. The possibility of legal challenges and extended uncertainty could significantly impact market sentiment. While the final readings of the […]
Gold Bounces on USD Weakness as Trump Win Odds Fade
Gold (XAU/USD) has seen a modest recovery, trading around $2,740 on Monday, driven by a weakening US Dollar (USD). As a dollar-denominated asset, gold benefits from a weaker greenback. Additionally, ongoing geopolitical tensions, particularly the potential for further conflict between Iran and Israel, are bolstering safe-haven demand for gold. The recent decline in odds for […]