Market Analysis ahead of FOMC – what next for Dollar and Gold?
The market risk tone is moderately off on Wednesday as the dollar index recovers close to 90. Meanwhile, the stock market bled ahead of tonight’s FOMC minutes. China’s ban on crypto weigh on Bitcoin which further plummets below $40,000. Market Wrap The dollar is finding support at 89.7 early on Wednesday. DXY is on course […]
GBPUSD hits 1.42 amid better Job Data and a Plunging Dollar – what next?
GBPUSD hits 1.42 on Tuesday as the dollar continues to wear out. The cable is close to breaking the year’s high at 1.4245. How further high can it go? The support at 1.4 is strong enough to propel the Sterling above 1.42 for the first time in nearly three months. That means GBPUSD has gained […]
Market Forecast: Gold faces a critical resistance ahead of fresh retracement
Gold is all up as the bulls are finally set on a journey to another record high. However, with the treasury yield bound to have one more rally, the yellow metal might start a retracement as it approaches a key resistance level. Isn’t it clear now that the long-term bullish trend has resumed? It will […]
Market Forecast – Will USD, S&P 500 and Bitcoin rise together in May?
The dollar is back on the front foot after Yellen’s rate comments. Also, equities are staging significant recovery despite rallying treasury yield. Oil rally pauses while Gold struggles further. Light macros ahead today but the dollar should surge further. Asian Wrap ahead of London Despite very robust earnings reports in the US, last week’s gains […]
Gold Forecast: when will the yellow metal resume the long-term rally?
The yellow metal will complete the first bullish month in 2021 after it bottomed at 1677 in March as a result of a falling treasury yield. Will the long-term bullish trend continue from here? Gold is up by over 3.5% in April. The last bullish month prior was in December when the commodity gained nearly […]
Market Forecast: GBPCHF squeezed in a bearish triangle at 1.27
The bears will likely drag GBPCHF further downside as post-brexit deal uncertainty pressure the Sterling. Also, bid for safe havens might intensify in the coming days. GBPCHF was dragged to the 1.27 psychological level on Wednesday after staying around it since the start of the week. A recovering sterling and the recent strength in the […]
GBPUSD Forecast – Will the Bank of England hike the Pound or unsettle it?
The Cable is approaching the 1.4 psychological level ahead of the BoE monetary policy statements. Will there be a flash dip below the critical level or the pair will be supported enough to fly above it? A dovish/less-hawkish-than-expected Fed on Wednesday opened the ground for the dollar bears. the index slumped to 91.3 before a […]
Analysis and Forecast of Major Instruments – March 2 Update
The bid for safe-havens was firm in the early hours of the London session on Tuesday as market mood worsens. The dollar has rallied to its highest price in a month. Meanwhile, the RBA has maintained 10 basis point rate decisions ahead of Wednesday’s GDP data. The market sentiment support risk-off in the early days […]
Daily Analysis: EURUSD retreats ahead of Powell testimony
EURUSD bullish trend remains intact ahead of Fed Chair Powell’s testimony before the US Congress later today. Currently, EURUSD is shedding profit as it’s currently finding minor support at 1.2150. The euro-dollar is primarily being driven by the dollar more than anything else. The inverse correlation between the Dollar Index and EURUSD remains firm. Thus, […]
Dollar Index Technical Forecast – who is leading the dollar race?
After a two-day resurgence, the dollar is retreating on Thursday ahead of the New York session. The market mood this week is back in support of the safe-havens as the stock markets stay on the back foot. Earlier in the week, concerns about a new strain of the virus disrupted the bullish risk tone the […]