
Oil and Gold: Price review for the week ahead
Oil and Gold: Price review for the week ahead
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Oil and Gold: Price review for the week ahead

EUR/USD outlook: bulls hold grip but continue to face strong headwinds at 100DMA/daily cloud top

The US dollar is trying to turn things around early on Monday.

Euro: Softer CPI may unlock 1.1600 against US Dollar – ING

The silver market is slightly positive on Monday in early trading, as we are looking to possibly continue the bullish momentum. A bit of hesitation has been seen though.

EURUSD probed again through strong barriers at 1.1560/66 (100DMA / daily cloud top) on Monday, following Friday's false break higher, but continues to face headwinds at this zone.

Gold is rather quiet on Monday morning with traders looking to determine whether or not there is going to be follow-through on the bullish momentum.

CPI will determine whether silver clears its 52-week moving average and targets $74.63 or loses momentum and retests $60.83.

Gold: CTA selling limits upside below $4,400 - TD Securities

Friday's US employment report was the first of four major pieces of economic data due before the Federal Reserve's September meeting. The figures delivered a significant downside surprise, prompting markets to scale back expectations of a September rate hike to around 44%, from above 55% ahead of the release.

Following a steep risk-on rally across US equity indices and precious metals, several major markets are approaching critical technical levels as momentum becomes increasingly stretched:

Euro: Modest upside bias against US Dollar as Fed repricing – Rabobank

Silver tests $65: Why are buyers struggling to extend the rally?

Gold: Central bank demand underpins rally – ING

Gold holds firm as Fed rate outlook, Middle East developments remain in focus