GBP/JPY Price Forecast: Breaks support trendline, eyes on 217.50
GBP/JPY Price Forecast: Breaks support trendline, eyes on 217.50
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GBP/JPY Price Forecast: Breaks support trendline, eyes on 217.50
Forex
USD/CHF Price Forecast: Reclaims 0.81 as market structure targets 0.82
Gold price breaks higher as US Dollar weakness fuels rally
Silver Price Forecast: XAG/USD struggles to build momentum above $60.00
XAU/USD Price forecast: Gold extends rally as Middle East concerns intensify
AUD/JPY has been rising steadily since mid-June but failed multiple times to break into 115 level previously. Will it succeed this time?
Rising Treasury yields and higher oil prices did not provide support to the American currency today.
The last two trading sessions have been important for gold. The precious metal has gained more than 3.5% during this period,.
Pound Sterling Price News and Forecast: GBP/USD steadies as cooler UK CPI meets Oil shock
USD/CAD is consolidating just below major resistance after a powerful multi-week rally carried the pair into fresh yearly highs. The tight range highlights a market coiling for its next directional move, with the July opening range now taking shape beneath a key technical barrier.
Gold price climbed to a two-week high after bears failed to break it, leaving FOMC guidance and oil as the next tests.
Gold broke above the target of 4100. As we see from the chart, prices are advancing which could lead to a move towards the 4200-20 resistance zone.
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 is still holding above the Intraday support at 1.1380 while managing to advance toward 1.1481 so far. Traders need to watch the support of 1.1380 as the market still has a chance to move higher.
The Dollar/Yen went over 163 for the first time since July 1986
Michael Boutros, Senior Market Analyst at FOREX.com, examines EUR/USD, the European Central Bank, and the critical technical levels that could determine the pair's next major move. With the ECB expected to leave interest rates unchanged, attention turns to Christine Lagarde's guidance, widening policy divergence with the Federal Reserve, and how rising energy prices could complicate the euro's outlook.
Gold continues to rise despite rising rates in the United States. With this, the market will need to reconcile this divergence in recent pricing one way or another.
Silver continues to struggle with $60 on Wednesday, as we are looking to see if we can break above it. At this point, there seems to be a bit of a selling block here.
Interest rates in America continue to put bearish pressure on some currencies.