GBPUSD Price Might Dip Lower Based on Sentiment

Traders Remain Net-Long Since Apr 20 GBPUSD: Retail trader data shows 72.4% of traders are net-long with the ratio of traders long to short at 2.62 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.41803; price has moved 7.0% lower since then. The number of traders net-long is […]

AUD/USD Price Analysis: Pending Consolidation Break to Fuel Next Leg

The Australian Dollar has continued to trade within a 2% range (150pips) since the start of May trade with price setting a well-defined monthly opening-range just above weekly support. While the broader risk remains weighted to the downside, the immediate bias remains vulnerable near-term while above this week’s lows. Here are the levels that matter […]

Gold Price Range-break Increases Pressure, Silver Support Under Siege

Gold/silver technical highlights: Gold breakdown has 2016 trend-line in focus Break below trend-line has attention towards 1230s Silver price and trend-line support at risk of breaking soon For a longer-term fundamental and technical outlook on Gold or any of your favorite markets/currency pairs, check out the DailyFX 2Q Forecasts. Gold breakdown has 2016 trend-line in […]

Gold Price Drops as US Treasury Yields Push Higher

Talking Points: – A stronger US Dollar on the back of higher US Treasury yields (both nominal and real) has paved the way for lower Gold prices. – Gold’s symmetrical triangle, previously eying topside resolution, has failed and broken to the downside. – Sentiment for the US Dollarhas started to turn contrarian bullishmidway though Q2’18. […]

EUR/USD Weekly Technical Outlook: Euro Price Coiling Up, ECB Nearing

EUR/USD Technical Highlights: EUR/USD price action converging into a triangle ECB on Thursday, but not expected to be a big market mover, never know, though A breakout one way or another should be upon us relatively soon For the intermediate-term fundamental and technical outlook for EUR/USD, check out the recently released DailyFX Quarterly Forecast. The […]

AUD/JPY Price Analysis: Is the Correction Over?

The Australian Dollar has rallied nearly 2% against the Japanese Yen since the March lows with the advance taking price into near-term confluence resistance. We’re looking for a reaction at this pivot with a breach above needed to keep the immediate long-bias in play. That said, this inflection point could also prove terminal for the […]

Crude Oil Price Rise May Stall on EIA Drilling Data

Talking Points: Crude oil and gold prices rose after data showed slowing US wage growth Easing worries about steep Fed rate hikes lifted sentiment, hurt US Dollar Stock index futures hint at “risk-on” mood ahead, EIA drilling report due Crude oil prices shot higher as February’s US labor-market statistics showed wage inflation dropped back to […]