The GBP/USD fell more than 7.5% from its high in Q3 to its lowest point last week. At the start of Q4, it has enjoyed a bit of a relief rally, as US bond yields, crude oil and the dollar have all taken a back seat, ahead of Friday’s jobs report. While we can’t rule out the possibility of a sharper oversold bounce in the coming weeks, we think that the upside will...
The price of gold has come up against channel support after falling for seven consecutive days.
Gold Price Outlook
The recent selloff in the price of gold has pushed the Relative Strength Index (RSI) into oversold territory for the first time in 2023, and bullion may face a further decline as long as the oscillator holds below 30.
Failure to defend the March...
The price of oil carves a series of lower highs and lows as it continues to pullback from the yearly high (95.03), but crude may attempt to track the positive slope in the 50-Day SMA ($84.74) as it holds above the moving average.
Crude Oil Outlook
The price of oil appears to have reversed ahead of the August 2022 high ($98.65) as it slips to a fresh weekly low...
BTC/USD trades back above the 50-Day SMA ($27380) to clear the September high ($$27491), and Bitcoin may attempt to retrace the decline from the August high ($30200) as the Relative Strength Index (RSI) pushes to its highest level since July.
BTC/USD Outlook
The lack of response to the negative slope in the moving average may lead to a further advance in...
AUD/JPY approaches the monthly high (96.07) as it snaps the series of lower highs and lows from the start of the week.
AUD/JPY Rate Outlook
AUD/JPY holds above the 50-Day SMA (94.44) after breaking out of the descending channel from earlier this year, with a break/close above the 95.30 (50% Fibonacci extension) to 96.10 (78.6% Fibonacci retracement) region...
The price of gold takes out the August low ($1885) as it continues to trade within the downward trending channel from earlier this year.
Gold Price Outlook
The price of gold appears to have reversed ahead of the September high ($1953) as it trades back below the 50-Day SMA ($1931), and bullion may track the negative slope in the moving average as it trades to...
The same themes weighing on risk sentiment in recent weeks, namely the rising US dollar and elevated global bond yields, were at it again today. We saw the EUR/USD get closer to the 1.05 handle, USD/JPY neared 150.00 and gold broke $1885 to reach its lowest level since March. Stock markets were coming off their earlier highs. Today we are looking at the USD/CHF as...
The price of oil consolidates after registering a fresh yearly high ($92.43) last week, but the move below 70 in the Relative Strength Index (RSI) may accompany a near-term pullback in crude to mirror the price action from earlier this year.
Crude Oil Outlook
The price of oil is little changed from the start of the week as it bounces back from a fresh weekly...
BTC/USD reversed ahead of the June low ($24763) to register a fresh monthly high ($27491) during the previous week, but Bitcoin may track the negative slope in the 50-Day SMA ($27674) as the recovery from the monthly low ($24922) stalls ahead of the moving average.
BTC/USD Outlook
BTC/USD struggles to hold its ground after failing to push back above the $27470...
GBP/JPY trades to a fresh monthly low (180.82) after failing to push back above the 50-Day SMA (183.26), with recent developments in the 50-Day SMA (183.26) warning of a potential change in trend as the moving average no longer reflects a positive slope.
GBP/JPY Outlook
Failure to retain the range-bound price action from earlier this week may lead to a further...
With all the Fed and other major central banks out of the way now, we have seen a sharp sell-off in stocks and bonds, and to a lesser degree gold, while yields and the dollar have risen.
The precious metal has shown some signs of life off late, due largely to haven demand with investors evidently starting to disliking equities amid valuation concerns and as...
The S&P500 trades to a fresh monthly low (4398) after struggling to hold above the 50-Day SMA (4485), and the index may continue to give back the advance from the August low (4335) amid the flattening slope in the moving average.
S&P500 Index Outlook
The S&P500 is under pressure following the string of failed attempts to push back above the 4510 (100%...
The price of gold threatens channel resistance as it extends the series of higher highs and lows carried over from last week.
Gold Price Outlook
The price of gold appears to be breaking out of the descending channel from earlier this year as it trades back above the 50-Day SMA ($1932), with a close above $1937 (38.2% Fibonacci extension) raising the scope for...
The price of oil continues to carve a series of higher highs and lows to register a fresh yearly high ($91.36), and crude may continue to approach the November 2022 high ($93.74) as the Relative Strength Index (RSI) holds above 70.
Crude Oil Outlook
The price of oil has cleared the range-bound price action from earlier this month to keep the RSI in overbought...
BTC/USD appears to be reversing ahead of the June low (24763) as it stages a three-day rally.
BTC/USD Outlook
BTC/USD may push towards the $27470 (23.6% Fibonacci extension) to $28220 (23.6% Fibonacci retracement) region as it trades to a fresh monthly high (26845), with a move above the 50-Day SMA (28207) bringing $29140 (38.2% Fibonacci extension) back on...
The opportunity cost of holding gold, a non-interest-bearing metal, has been rising due to the fact government bonds have been providing much better nominal yields of late. For gold to start shining again, we will need to see clear signs that the days of contractionary monetary policy are numbered. For now, we are not there. But while there is increased risk of...
The price of gold registers a fresh monthly low ($1906) after struggling to push back above the 50-Day SMA ($1932).
Gold Price Outlook
The price of gold continues to trade within the descending channel from earlier this year as it extends the decline from the start of the month, and bullion may continue to give back the rebound from the August low ($1885) as...
AUD/JPY rises for the third consecutive day after testing the monthly low (93.59).
AUD/JPY Rate Outlook
AUD/JPY may attempt to test the monthly high (94.72) as it pushes above the 50-Day SMA (94.33), and the exchange rate seems to be showing a limited response to the negative slope in the moving average as it no longer trades within a descending channel.
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