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Gold extends rally as markets await US PCE and Warsh's Jackson Hole speech
Euro: Positioning supports gradual gains against US Dollar – ING
Gold: Breakout sustains upward momentum – Societe Generale
Gold Price Forecast: XAU/USD pushes higher, but overbought RSI warns bulls
AUD/USD Price Forecast: Aussie eases from 12-week highs with bulls still in command
EUR/USD at highest level since may: What comes next?
The euro is being supported by improving European economic data and dollar weakness following the US Treasury's decision to expand its bond buyback program.
Gold bulls lead the markets
EUR/USD has regained ground in recent sessions, with the pair trading near 1.17 as broad-based weakness in the US dollar continues to dominate the foreign-exchange market. The main driver remains the changing monetary-policy outlook, with investors focused on whether the Federal Reserve can maintain a restrictive stance while the US economy shows signs of slowing.
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecast: XAG/USD steadies around $69.00 amid US bond buybacks
Intraday levels show some weakness over the indicators that could lead to a correction before rebounding. As we see from the chart, the market is facing resistance around 1.1710 and if prices remain below it, a chance for a correction towards 1.1570 is likely.
GBPUSD also shows the chance for a correction before rebounding. As we see from the chart, the market is facing resistance around 1.3675 which could give space for a trading zone toward 1.3560.
The Yen gave back some of its recent advance that was triggered by US and Japanese intervention. USDJPY managed to print above the 158.05 resistance which indicates a wider range for rebound towards the 160.85 resistance.
Gold resumed the rally after the US Treasury announced last week of doubling the amount of purchasing long-term bonds. As we see over the Intraday chart, the market is facing several supports that can send the metal towards the 4775 level.
