FX

Silver witnessed some follow-through selling for the third successive day. Slightly oversold RSI on the 1-hour chart helped limit any further losses. The technical set-up still remains tilted firmly in favour of bearish traders. Silver extended its recent pullback from the vicinity of the 50% Fibonacci level of a sharp fall from monthly swing highs

A break above 151.16, the double-top neckline could negate the chart pattern. If the pattern is confirmed, 149.00 is the target. GBP/JPY post modest gains 0.08%, eyes 151.16. The GBP/JPY trades modestly up in the session at 151.05 slightly up 0.05%. In the previous session, the pair closed at 150.82 a gain of 0.30%.  GBP/JPY

GBP/USD Forecast: Dead-cat bounce points to further falls, Fed minutes could pummel the pound No mercy in the summer – the safe-haven dollar has been gaining ground and the pound has been suffering from weak data. That has resulted in a mere “dead-cat bounce” for GBP/USD, following its sharp drop below 1.38. It is now

USD/CHF edges higher during the two-day uptrend towards weekly high. Downbeat momentum, key SMA hurdle challenges the further upside. 61.8% Fibonacci retracement offers strong support, bulls may aim for 0.9200 during further advances. USD/CHF remains on the front foot, recently easy around 0.9150 during Wednesday’s Asian session. The Swiss currency pair bounced off the 61.8%

AUD/USD fell to its lowest level since November at 0.7279. US Dollar Index clings to modest daily gains above 92.70. RBA noted that recent coronavirus outbreaks are weighing on recovery. After closing the first day of the week in the negative territory, the AUD/USD pair came under strong bearish pressure during the Asian session and

Silver edges higher following the corrective pullback from multi-day low. Firmer RSI, successful break of support-turned-resistance back the bulls. 200-SMA adds to the upside filters, weekly support line offers extra challenge for bears. Silver (XAG/USD) consolidates the last week’s slump, up for the third consecutive day around $23.88 amid Tuesday’s early Asian session. In doing

NIO stock is lower again in premarket trading. NIO breaks $40 in Monday’s premarket session. NIO has been falling since the results last week. NIO shares are down again in Monday’s premarket as some sad news hits the stock in relation to a driver fatality. The Securities Times which is a Chinese publication is reported as

Bearish risks continue to prevail in the EUR/GBP according to analysts at MUFG Bank. They hold the idea of shorting the cross with a target at 0.8320. They consider that positive developments regarding COVID reinforces the bullish outlook for the pound.   Key Quotes: “We are maintaining a short EUR/GBP trade idea to reflecting building

GBP/USD Weekly Forecast: Sterling capped by looming Federal Reserve policy change Sterling stalls near the middle of its six-month range. UK economic data improves, promising an advance in the third quarter. Covid cases climb but future direction and  impact are uncertain. FXStreet Forecast Poll is bullish but the gains are minor. Sterling declined on the

EUR/USD extends daily rebound into the American session. US Dollar Index edges lower ahead of consumer confidence data. Falling US Treasury bond yields seem to be weighing on USD. After spending the first half of the day fluctuating in a narrow band below 1.1750, the EUR/USD pair gained traction in the early American session and

Silver edges lower around multi-day low despite defending $23.00 threshold of late. Failures to rebound past previous support line, MACD conditions favor sellers. Bulls need to cross 200-SMA to regain control. Silver (XAG/USD) remains mildly bid around $23.20, up 0.10% on a day, amid Friday’s Asian session. The bright metal bounced off $23.00 the previous

Palantir (PLTR) has just released Q2 earnings on Thursday ahead of the market opening. The number for Earnings Per Share (EPS) was $0.04 just ahead of the estimate for $0.03. Revenue came in at $376 million also ahead of estimates at $353 million. Palantir also increased its guidance for Q3 revenue to $385 million which

USD/JPY pauses the gain after testing monthly highs near 110.80. US Dollar Index skids below 93.00 upon disappointing CPI data. The yen gains on its safe-haven appeal despite the concerns of the Delta variant. After testing the recent highs on Wednesday, USD/JPY retreats in the Asian session on Thursday.  A pullback correction in the US

US CPI Overview Wednesday’s US economic docket highlights the release of the critical US consumer inflation figures for July, scheduled later during the early North American session at 12:30 GMT. The headline CPI is expected to decelerate to 0.5% during the reported month from the 0.9% increase recorded in June. The yearly rate is also

USD/JPY continues to ride higher the fifth straight day on Wednesday. US Dollar Index remains in demand above 93.00 on Fed’s official’s hawkish comments, US infrastructure bill. The yen losses attractiveness as a record case of delta variant reported in Japan. USD/JPY extends gains in the initial Asian trading session on Wednesday. The strong buying

GBP/USD staged a modest bounce from two-week lows, though lacked any follow-through. Descending triangle support break and the formation of double-top favours bearish traders. Sustained weakness below the 1.3835 support area will reaffirm the near-term negative bias. The GBP/USD pair found some support near the 38.2% Fibonacci level of the 1.4249-1.3572 downfall and staged a

Gold is consolidating the huge increase in ATR since the NFP.  The Fed is expected to move more hawkish and the US dollar takes control.  At the time of writing, XAU/USD is trading around the $1,730 level in the consolidation of the opening drop this week to a low of $1,677.68 from $1,764.67.  A stronger

Tesla stock drops just over 2% on Friday to close below $700. TSLA still holding short-term bullish momentum. Electric vehicle sector leader still looks bullish but $697 needs to hold. Tesla has a rough day on Friday, putting a few doubts into the minds of bulls who felt they had done the hard work in pushing