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The GBP/JPY cross dropped to near three-week lows, around the 150.85-80 region in the last hour, albeit quickly recovered few pips thereafter. The cross extended the previous day's dramatic pullback from the 152.85 area, or one-month tops and witnessed heavy selling for the second consecutive session on Wednesday. The downfall was exclusively sponsored by a...

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EUR/USD: Focus on two-month-old support near 1.1750 EUR/USD remains pressured around three-week lows, consolidate the biggest daily fall in a month. Firmer Momentum back-up to the south-run, 50-DMA break favor sellers. Bulls remain unconvinced before witnessing a break of 1.1910.

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GBP/USD is edging lower in early European trade Thursday but remains within the range between just over 1.39 and just under 1.38 that has contained price action for the past week. News of an extensive Cabinet reshuffle by UK Prime Minister Boris Johnson has had little impact on

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US equities have come under a bit of pressure recently which has played in nicely with the recent trend in the S&P 500, which has been bouncing off a key trendline support for the past year. The pullbacks towards the trendline have been narrowing as the trend has progressed, from almost 9% back in October 2020 to under 2% this past week, playing into a neat...

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PLATINUM TECHNICAL ANALYSIS Meanwhile Platinum, the major commodity commonly used in the auto motor industry to reduce emissions, has been at the discretion of supply as Emerging markets continue to experience decreases in short-term supply, hindering the progression of bullish continuation, with prices stalling at Fibonacci support while the CCI falls into...

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SILVER PRICES AND SILVER VOLATILITY RELATIONSHIP ATYPICAL Both gold and silver are precious metals that typically enjoy a safe haven appeal during times of uncertainty in financial markets. While other asset classes don’t like increased volatility (signaling greater uncertainty around cash flows, dividends, coupon payments, etc.), precious metals tend to benefit...

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US Dollar Index looks to 93.00 as Fed taper tantrums back the bulls US Dollar Index (DXY) consolidate the heaviest daily jump in a month around 92.87 during Friday’s Asian session. The greenback gauge cheered increasing odds of the US Federal Reserve’s (Fed) tapering announcement during the next week’s Federal Open Market Committee (FOMC) meeting the previous...

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Anti-fiat gold prices weakened during Thursday’s North American trading session, extending the near-term downtrend since the beginning of this month. XAU/USD was likely pressured by a combination of a stronger US Dollar and rising longer-term Treasury yields. The 10-year rate closed at its highest since the beginning of this week. Stronger-than-expected US retail...

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Gold Analysis Gold has rebounded harder from the major support 1690. Now the gold price is near to the lower high level of a descending channel in the daily timeframe. The major support level for gold is 1690 to 1680 level which is really very hard to break at this time. However, trend reversal will happen if gold breaks this major support 1680, until that you...