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GBP/JPY Price Forecast: Sellers eye 214.00 after SMA break
USD/CHF Price Forecast: Bulls eye 0.8200 as RSI turns higher
Gold reversed off $4,283 on Wednesday after buyers recaptured broken support levels, mapping a path through $4,472 toward the 200-day moving average.
Gold rises as speculation of Yen intervention weighs on the US Dollar
USD/CHF has staged an impressive recovery from the August lows, with a break of the July downtrend accelerating the advance to a five-week high. The move has strengthened the near-term technical backdrop as bulls attempt to establish a foothold above pivotal resistance.
Gold price forecast: near-term bounce, sellers still in charge
British Pound: Break below 1.35 shifts focus lower against US Dollar – Scotiabank
A significant shift has begun to emerge around the strength of the Japanese yen in the short term. Over the last two trading sessions, USD/JPY has declined by nearly 1.00%, reflecting a notable recovery in the Japanese currency.
USD/JPY outlook: Hawkish BoJ and speculation of another intervention were likely behind today's sharp fall
We saw a bit of recovery in the stock market since the US open, with the dollar easing lower on suspected BoJ intervention in the USD/JPY helping to calm the nerves. That in turn helped to provide some support for gold, too.
Euro: Downside risks build against US Dollar as oil rises – Scotiabank
Gold continues to be a noisy place to trade, but on Wednesday morning, we have seen the important 200-day EMA act as support, perhaps lending a hand for those that are bullish.
Gold: Data risks and CTA selling – TD Securities
The Canadian dollar has weakened as dollar CAD rebounded more than 1.5% off its monthly low into a pivot zone where three time frames converge. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily and four hour structure in dollar CAD and maps the event risk sitting on top of it.
The forex markets continue to watch the ten-year yield in the United States, while the jobs data on Friday could be a big mover if we get an unexpected number.
