Latest financial and economic news and analysis
Gold: Hormuz optimism supports rally – ING
Gold managed to break the triangle formation above 4166 where managed to rally yesterday toward target 4200-20 while managed to add more advance 4300 As we see over the chart, market facing support zone at 4200-20 where as long as market holding trades above it another advance toward 4330 and above will be expected Below […]
The Yen gave back some of its recent advance that was triggered by US and Japanese intervention. As we see over the chart, we could see wide range of trading, first between 155.00 and the resistance of 158.05, as the market demands a rebound.
We still hold our previous projection for GBPUSD. As we see over the daily chart, a possible triangle formation could hold the market inside the 1.3140-80 support and 1.3505-55 resistance.
The Euro took advantage on the Intervention with the Yen to test the downtrend as we see from the chart, which in return pushed for a correction A trading zone between 1.1435 and 1.1560 could hold prices until one of the boundaries break. Above 1.1560 could open the door towards 1.1685 and 1.1795.
Gold steadies near seven-week high as markets await Strait of Hormuz deal
Silver Price Forecast: XAG/USD clings to gains near $62 with US NFP in focus
Gold Price Forecast: XAU/USD bulls target $4,380 buoyed by lower US yields
Silver price today: Silver broadly unchanged, according to FXStreet data
Gold rises for fourth consecutive day: Geopolitics and data lend support
Gold rose to 4,300 USD per ounce on Thursday, marking its fourth consecutive session of gains. The metal has advanced nearly 6% since the start of the week, supported by a partial agreement to reopen shipping through the Strait of Hormuz, which has weighed on oil prices and eased concerns over inflation and further rate hikes.
Bulls push Gold's price higher
EUR/GBP Price Forecast: Holding below 0.8580 with dips limited so far
US Dollar Price Forecast: DXY trades near key support ahead of Friday's U.S. Nonfarm Payrolls report, while EUR/USD tests resistance and GBP/USD consolidates after recent gains.
USDCAD hits major resistance The greenback fell further as traders continue to digest the ongoing peace negotiations in the Middle East. The pair progressed lower, breaking through the 1.4050 level, ensuring that the bear run remained intact.
