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Pound Sterling Price News and Forecast: GBP/USD rises as Oil slide softens USD, Fed hike bets increase
Forex
Euro: Choppy range view holds against US Dollar – Rabobank
British Pound: Strong UK data fail to lift GBP against US Dollar – Scotiabank
USD/CHF is attempting to register a fifth consecutive daily advance after rebounding sharply from the July opening-range low, carrying the pair towards a major technical inflection zone. The rally is pressing the upper bounds of the yearly uptrend, where multiple resistance studies converge and the risk of a larger reaction increase.
Silver holds inside Thursday's range as softer oil and yields ease pressure, but FOMC risk keeps the silver market on edge.
Silver has had a strong week, but still faces headwinds above, as interest rates in America are still extremely high. At this point, the $60 level seems to be a point of interest, as has been the case for some time.
The gold market has rallied a bit during the course of the week, initially showing signs of strength. However, we have seen the same resistance play out again.
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The $4,000 level continues to act as support and an area that has attracted a lot of attention from gold traders and has shown itself to be important yet again.
The silver market has been somewhat choppy in premarket trading but has shown more bullish than bearish behavior so far.
GBPCAD currency pair recently reversed from the support area between the support level 1.8720 (which reversed the price multiple times at the end of June), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from May.
The US dollar has been very noisy in early trading, as we are trying to follow the overall interest rate picture in these pairs.
Gold managed to print below support 4040 which may lead ofr farther drop movement as we see over the chart, Intraday resistance at 4068 while as long as market holding below it more drop to test 3960-70 support zone may hit the market Above 4070 a chance for farther advance may hit the market while […]
As we see from our previous chart, USDJPY managed to pass above the short-term resistance zone of 161.95 which shows a strong advance still ongoing. Prices fell toward 160.50-70 on the suspected intervention before bouncing back toward target 163.80 Market managed to print above 163.80 which may lead for farther advance later Traders should take […]
GBPUSD also managed to retreat below 1.3320 which may add more drop pressure over market As we see over the Daily chart a possible triangle formation may hold market inside 1.3140-80 support and 1.3480 resistance Below 1.3140 more drops is likely SUPPORT RESISTANCE LEVEL1 1.3300 1.3400-30 LEVEL2 1.3160 1.3555 LEVEL3 1.3010 1.3655
Euro managed to print below support 1.1380 which may add more drop pressure over market As we see over the chart Daily resistance laying at 1.1480 while targets toward 1.1210 and 1.1065 Above 1.1480 more advance toward 1.1620 and above is likely SUPPORT RESISTANCE LEVEL1 1.1310 1.1480 LEVEL2 1.1210 1.1620 LEVEL3 1.1065 1.1685
Silver Price Forecast: XAG/USD recovers as the US Dollar eases
Euro: ECB hawkish but EUR still disadvantaged against US Dollar – OCBC
Can Silver reclaim $60 after its latest rebound?
