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USD/CAD technical analysis shows the Canadian dollar stalling in a tight range after an eight of nine week rally, with a clean breakout now in focus. Michael Boutros, Senior Market Analyst at FOREX.com, walks through the USD/CAD setup across the weekly, daily, and four-hour charts and the levels that matter most.
Forex
It's been a rollercoaster of a year for the Euro so far, as the Iran war brought a bid to the currency in April, driven by inflation expectations going higher due to energy prices. The thought there was an energy-vulnerable Europe would be forced into higher prices which would then filter through into other products, and that led to a stronger Euro.
Gold managed to retreat again after Houthi militants said they attacked two Saudi Arabian tankers in the Red Sea, escalating the Middle East conflict and threatening deeper supply disruptions. As we see over the intraday chart, market closing from support 4040 zone which may give chance for rebound movement Below 4040 a risk for farther […]
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.
GBPUSD managed to pass above the resistance of 1.3430 to meet the target of 1.3510 and above. As we see from the chart, a chance for a trading zone between support 1.3320-50 and resistance 1.3555 could hold the market.
EURUSD retreat and closing again from support zone 1.1380 which still holding market above it As long as market holding trades above 1.1380 the chance for another advance still likely Below 1.1380 more of a drop could hit the market with supports at 1.1310 and 1.1210. SUPPORT RESISTANCE LEVEL1 1.1380 1.1500-25 LEVEL2 1.1310 1.1625 LEVEL3 […]
USD/CAD recently printed out green bars earlier this week but the Canadian dollar is mounting a comeback that could resume the downside.
The gold market dropped early on Thursday as the overall consolidation area continues to be a major area of importance in the market. Higher rates continue to be a massive problem, though.
The silver market has pulled back early on Thursday, as we continue to see a bit of volatility in this market. Higher rates continue to be a thorn in the side of traders.
Euro weakens as ECB stays on hold while Middle East tensions boost the US Dollar
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Analysts at UBS remain bullish on the price of gold in 2026-2027 despite recent weakness, arguing that the latest correction offers investors an opportunity to add exposure rather than abandon the precious metal. The bank forecasts the gold price rising from around $4,000 per ounce today to $5,200 by June 2027, even as higher oil prices.
The GBP/EUR forex pair has been on the downward trajectory this week and the market could be looking at eventful coming weeks.
EUR/USD rose to 1.1429 on Thursday, with the US dollar continuing its moderate decline from the previous session. The market is assessing rising inflation risks driven by elevated energy prices against a backdrop of weakening economic data, while seeking further signals on Federal Reserve policy.
EUR/USD recovers as Dollar weakens
EUR/JPY Price Forecast: Euro trims gains but holds above previous highs at 186.32
Silver price today: Silver falls, according to FXStreet data
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