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EURGBP Price Analysis: Bears eye range support around 0.8700

Renewing selling pressure causes EURGBP to see a decline to almost two-week lows. On short-term charts, the rectangle pattern that forms suggests that traders are still determining their next move. Before making substantial directional wagers, neutral technical indications also call for prudence. During the first part of the European session on Friday, the EURGBP cross …

EURGBP Price Analysis: Bears eye range support around 0.8700 Read More »

idr

USD/IDR Price Analysis: Nears $15,700 before Bank Indonesia Rate Decision

USDIDR has a four-day rise and recently oscillated around an intraday high. The benchmark rate will likely rise by 50 basis points by Bank Indonesia. A breach to the upside of a two-week-old resistance line might reaffirm a multi-month high. The short-term downside is constrained by the 21-DMA and an ascending trend line from late …

USD/IDR Price Analysis: Nears $15,700 before Bank Indonesia Rate Decision Read More »

GOLD

Gold Price hovers above $1,780, its highest since mid-August.

Despite a weaker US Dollar, Gold maintains stability at its highest level since mid-August. The dollar is affected by bets on the Federal Reserve raising rates less aggressively. The USD is further devalued by falling US bond rates, which is advantageous for commodities. Any additional advances for the XAUUSD seem to be limited by a …

Gold Price hovers above $1,780, its highest since mid-August. Read More »

copper

Copper slides from 5-month high as Fedspeak, cautious attitude boost US Dollar.

Since June, copper breaks a four-day uptrend to lower its best levels. Negative market sentiment To encourage policy doves, Fed’s Waller underlined the need for additional data. The worry in advance of the meeting between Biden and Xi strengthens the risk aversion. Downward movements are limited by China’s relaxation of COVID rules and assistance for …

Copper slides from 5-month high as Fedspeak, cautious attitude boost US Dollar. Read More »

dollar

Australian Dollar Forecast: US Dollar Crunch Strengthens the Aussie

FORECAST OF THE AUSTRALIAN DOLLAR: NEUTRAL Due to a weaker US Dollar last week due to US CPI printing lower than expected, the Australian Dollar rose to its highest level over two months. Instead of the forecasted 7.9% and the prior 8.2%, the headline CPI was 7.7% year-over-year. The Federal Reserve‘s aggressive rate increases this …

Australian Dollar Forecast: US Dollar Crunch Strengthens the Aussie Read More »

nzd

NZDUSD reaches weekly low, falls below mid-0.5800s before US CPI.

For the second consecutive day, NZDUSD is falling amid persistent USD purchasing. A rising risk tone and declining US bond rates do nothing to help the pair. Investors are now anticipating the critical US CPI data for a new change in direction. The NZDUSD pair is still under some selling pressure on Thursday for the …

NZDUSD reaches weekly low, falls below mid-0.5800s before US CPI. Read More »

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