EUR/USD Bears Eye Yearly Low

EUR/USD is under pressure with price coming precariously near the 2018 low of 1.1508 reached on May 29th. Price is confined within a descending triangle pattern and bears are looking for a potential breakout to the downside. Looking at the weekly chart we can see that price is nearing the 50% retracement of the upmove that … Read more

Gold Falls to Lowest Levels Since July 2017

Gold prices fell to their lowest levels in over a year on Thursday, following the release of a report from the World Gold Council showing that the yellow metal has had the worst start to a year since 2009. Gold continued moving lower in early trading on Friday, reaching the shelf of support made by the … Read more

Gold Hovers at Major Support Ahead of NFP

Gold showed little reaction to Wednesday’s as-expected FOMC Statement, ending the day marginally lower. The Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent and upgraded its assessment of the U.S. economy to ‘strong’. The downtrend in gold began in April 2018 and price … Read more

USD/JPY Rallies to 6 Month Highs on Strong Inflation Data

The U.S. dollar continued to strengthen against the Japanese yen in early trading on Thursday, reaching fresh six month highs. On Wednesday USD/JPY rallied above the key psychological level of 112 for the first time since January 10th. USD/JPY was boosted by Wednesday’s better than expected U.S. inflation data, increasing the probability that the Federal … Read more

Gold Falls and Dollar Firms Amid Trade War Fears

Daily gold chart with US Dollar overlay On Tuesday the Trump administration announced a list of tariffs of 10 percent on $200 billion in Chinese goods, escalating the trade war between the world’s two largest economies. “For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, … Read more