Gold Price Outlook: XAU/USD Steadies Above Support Amid Potential Correction
Gold prices are holding steady, trading just 5% below the record high, with the December range taking shape above key uptrend support. The XAU/USD technical outlook highlights the potential for a broader correction while the long-term trend remains intact. Gold Weekly Technical Analysis: Key Levels Gold’s price action reflects a tight trading range, staying above […]
AUD/USD Holds Ground Despite Weak GDP, Aided by Yuan Strength
The AUD/USD pair faced significant downward pressure on Wednesday following disappointing Australian GDP data for Q3, but the Australian dollar found support later in the day as the yuan strengthened. Without this lift, the Aussie could have sunk further, hitting its lowest levels in eight months. Weak GDP Data Raises RBA Rate Cut Expectations Australia’s […]
Australian Dollar Outlook: AUD/USD Poised for a Breakout Near Key Support Levels
The Australian Dollar (AUD) is positioned for a potential breakout as AUD/USD trades just above key support near its yearly lows. Following a 7.3% decline from the yearly highs, the pair has entered a contractionary phase, with traders eyeing critical levels for a decisive move. Technical Overview: AUD/USD Key Levels and Trends The AUD/USD has […]
GBP/USD Faces Bearish Pressure as Bear Flag Formation Signals Vulnerability
The GBP/USD exchange rate is showing signs of potential weakness, with a bear-flag formation emerging on the charts. While recent gains have provided a temporary reprieve, the broader outlook suggests the recovery may remain vulnerable, particularly if the pair struggles to sustain momentum above key resistance levels. Technical Outlook: GBP/USD Key Levels Bear Flag Formation […]
USD/CAD Holds Steady as Post-Election Momentum Targets November High
The USD/CAD exchange rate continues to defend its rally following the U.S. election, with the potential to test the November high of 1.4178. However, technical indicators suggest mixed signals, as the Relative Strength Index (RSI) shows divergence with price movements, failing to enter overbought territory despite the recent climb. Technical Analysis: Eyeing Key Resistance Levels […]
Yen Strength Builds Momentum: USD/JPY and EUR/JPY Under Pressure
The Japanese Yen has regained significant strength, driving sell-offs in both USD/JPY and EUR/JPY over the past week. With the Bank of Japan’s (BoJ) policy review on the horizon, scenarios favoring Yen appreciation are gaining traction across major currency pairs. USD/JPY: Yen Strength Emerges Amid Dollar Resilience USD/JPY’s post-U.S. election rally has faltered despite broader […]
Yen Reaches Six-Week High as Dollar Weakens at Month-End
The Japanese yen rose to its highest level in six weeks against the dollar on Friday after inflation data from Tokyo exceeded expectations. The core consumer price index for Tokyo, which excludes fresh food prices, increased by 2.2% year-on-year in November, higher than the forecasted 2.1% and October’s 1.8%. This fueled speculation that the Bank […]
ASX 200 Faces Potential Struggles as Wall Street Breaks Thanksgiving Rally Tradition
Wall Street bucked its usual trend of pre-Thanksgiving gains, with major indices posting losses instead of their typical holiday rally. This unexpected downturn, driven by weak earnings reports and strong inflation data, raises concerns for ASX 200 bulls, especially as the index hovers near record highs. Wall Street’s Unusual Performance Historically, the day before Thanksgiving […]
US Dollar Outlook: USD/JPY Retreats After Post-Election Rally
The USD/JPY exchange rate has fallen to a fresh monthly low of 150.46, reversing gains made following the U.S. presidential election. This decline reflects a series of lower highs and lows, with the pair potentially targeting the October low of 142.97. Bearish Momentum Builds for USD/JPY The drop from the monthly high of 156.75 kept […]
ASX Hits Record High Amid Thin Trade, but Bearish Risks Linger
The ASX 200 futures (SPI 200) closed at a fresh record high on Thursday, briefly retesting the 8500 level. However, thin trading conditions due to the U.S. Thanksgiving holiday raise doubts about the sustainability of this move. With low liquidity and subdued trading volumes, the record high seems more a result of market drift than […]
