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Gold Fends Off Attack on $2000, USD/CAD Sinks, GBP/USD on Cusp of Epic Breakout

Posted by By 08/05/2023Posted inForex
Gold prices resume advance after Friday’s selloff. Elsewhere, USD/CAD extends drop and challenge its 2023 lows, while GBP/USD makes a move on a major trendline resistance.
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NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Mar 17, 2023 when NZD/USD traded near 0.63.

Posted by By 08/05/2023Posted inForex
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
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US Dollar Slips Ahead of US CPI Data, Nasdaq 100 Stalls at Resistance as Bulls Bail

Posted by By 08/05/2023Posted inForex
The U.S. dollar and Nasdaq 100 were subdued on Monday ahead of high-impact events later in the week, with traders focused on debt ceiling negotiations and the April U.S. inflation…
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Japanese Yen Price Action Setups: EUR/JPY, USD/JPY, AUD/JPY

Posted by By 08/05/2023Posted inForex
Yen retreats as safe haven appeal dissipates at the start of the week. The Yen to come under renewed selling pressure?
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AUD/USD IG Client Sentiment: Our data shows traders are now net-short AUD/USD for the first time since Feb 15, 2023 when AUD/USD traded near 0.69.

Posted by By 08/05/2023Posted inForex
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/USD-bullish contrarian trading bias.
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EUR/USD Price Forecast: Euro Bulls Fight Exhaustion Below the 1.1100 Level

Posted by By 08/05/2023Posted inForex
EURUSD holds above the psychological 1.1000 mark as bulls appear exhausted. Will 1.1100 remain out of reach as US CPI lies Ahead?
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AUD/USD Price Forecast: Commodity Prices Reinforce Aussie While USD Slips

Posted by By 08/05/2023Posted inForex
AUD/USD prices are up roughly 0.5% looking for its 6th consecutive green close as the pair prepares for a stacked economic data filled week.
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XAU/USD Forecast: Gold Prices Delay Ahead of US CPI

Posted by By 08/05/2023Posted inForex
Gold prices trade marginally stronger this morning but with high impact data scheduled later in the week, XAU/USD is likely to remain subdued until then.
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Bitcoin & Ethereum Price Action: Is the Rally Over?

Posted by By 08/05/2023Posted inForex
Bitcoin and Ethereum’s rise may have stalled recently, but the uptrend is far from over. How much more downside in cryptocurrencies?
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US Dollar Treads Water Post Jobs and Ahead of CPI. Where to for the DXY Index?

Posted by By 08/05/2023Posted inForex
The US Dollar dipped today as markets reassess risk appetite after strong US jobs data on Friday might indicate a more robust economy than previously thought. Will USD recover?
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