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After strong rallies from their mid-year lows, metals and miners corrected into September.
Gold and USD rallied together
The US dollar remained largely supported heading into the final hours of an action-packed week. The Fed was hawkish, the dollar rallied then sold off, then bounced back again.
Euro heads for weekly loss against US Dollar on hawkish Fed outlook
The gold price outlook is holding a bullish structure as crude oil falls more than 8% from monthly highs and U.S. Treasury yi.
Pound Sterling Price News and Forecast: GBP/USD attracts slight bids below trendline near 1.3360
Silver remains range-bound between $60 and $70, with a break above $70 potentially signaling a major bullish shift.
Gold managed to break through the Falling Wedge formation which could lead to another advance towards the 4510 target. As we see over the chart, the market is facing Intraday support around 4330-40, where as long as the market holds above it, more advance will be expected toward 4440-50 and 4510.
GBPUSD managed to resume the drop after the Bank of England held its official bank rate. As we see from the chart, the market is facing resistances at 1.3410 and 1.3475, where as long as prices hold below one of those resistances, more of a drop is expected towards the 1.3140-60 zone.
The Euro managed to hit the of target 1.1460-80. As we see over the previous chart, the Euro tested the support zone while still holding above it where a rebound towards 1.1570 is likely.
USDJPY managed to meet targets 156.75 and 157.40 and move higher. The pair is still showing the ability for more advance towards the 159.50-160.00 zone.
EUR/USD Price Forecast: Fresh downside likely if sustain below 1.1455
Silver Price Forecast: XAG/USD extends recovery above $67.00 as yields fall
Gold eyes weekly gain, but hawkish Fed outlook limits upside
EUR/USD is on the rise for a second day after the Fed's first interest rate increase in three years. We discuss the risk and opportunities
