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Gold Price Outlook: Breakout Trade Levels – XAU/USD Weekly Chart

Posted: 16 Jul 2019 09:00 AM PDT

Gold is virtually flat for the month with price holding within a well-defined consolidate pattern. Here are the breakout levels that matter on the XAU/USD weekly chart.

GBP/USD: Traders Remain Net-Long Since May

Posted: 16 Jul 2019 08:40 AM PDT

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.

US Dollar Rebound Hinges on Reduction in Fed Rate Cut Odds

Posted: 16 Jul 2019 07:53 AM PDT

After the June US retail sales report, Fed funds have backed away from pricing in three rate cuts in 2019. The US Dollar is testing downtrend resistance dating back to the late-May highs.

Platinum Price Outlook: Buyers Push Towards Two-Month High

Posted: 16 Jul 2019 07:30 AM PDT

Last week Platinum rallied moving the price to the next trading zone nonetheless, buyers need to consider those chart points to dominate.

US Dollar Pushes Higher, EURUSD and GBPUSD Suffers - US Market Open

Posted: 16 Jul 2019 06:10 AM PDT

Bad to worse for the Pound, which printed a fresh 27-month low. EURUSD eyes support, while USD pushes higher as firmer retail sales underpins.

Oil Price Outlook: WTI Crude Oil Price Action Builds Bear Flag

Posted: 16 Jul 2019 05:30 AM PDT

Crude oil prices have crossed back-below the 60-handle, and a short-term bear flag formation has built. Are oil markets on the cusp of another bearish run?

Market Sentiment Neutral Ahead of US Earnings, Rate Decision | Webinar

Posted: 16 Jul 2019 04:35 AM PDT

Traders are largely staying on the sidelines, waiting for economic data, US corporate earnings and the US interest rate decision at the end of the month.

European Commission President Vote to be Held Today

Posted: 16 Jul 2019 04:15 AM PDT

Ursula von der Leyen will face a critical round of voting on Tuesday evening where she might fail to gain the support needed to become the next President of the European Commission.

GBPUSD Price Slumps to Fresh 27-Month Low, No Respite in Sight

Posted: 16 Jul 2019 04:04 AM PDT

GBPUSD fell sharply Tuesday, hitting levels last seen in April 2017, despite slightly better-than-expected UK jobs and wages data. And the charts provide no support as yet.

USD/CAD Price Forecast: US Dollar Fall Against Canadian Slows Down

Posted: 16 Jul 2019 03:00 AM PDT

On Friday USD/CAD downtrend resumed leading the price, however with less momentum. Here are the most significant levels the pair may encounter in the few coming days.

Euro Technical Analysis Overview: EURUSD, EURGBP Levels to Watch

Posted: 16 Jul 2019 02:30 AM PDT

EURUSD, EURGBP key levels to watch. EURUSD holding support, while EURGBP bulls push towards critical resistance.

UK Jobs Data Fails to Cheer Up GBP Pairs, Focus on Carney Speech

Posted: 16 Jul 2019 02:00 AM PDT

Sterling (GBP) continued to sell off on Tuesday as UK jobs data provided a mixed sentiment, pushing GBPUSD and EURGBP towards year-lows and highs respectively.

Gold Price Nears Sharp Breakout, Silver Price Needs a Driver

Posted: 16 Jul 2019 01:00 AM PDT

The price of gold and silver continue to diverge with the spread between the two nearing a 26-year wide as gold continues to outperform. And the gold chart is looking increasingly bullish.

GBPUSD Rate to Stage Larger Rebound on Upbeat UK Employment Report

Posted: 15 Jul 2019 11:30 PM PDT

Fresh data prints coming out of the UK may fuel a larger rebound in GBPUSD should the developments instill an improved outlook for growth and inflation.

EURUSD May Fall if German ZEW Survey Spurs Risk Aversion

Posted: 15 Jul 2019 11:30 PM PDT

EURUSD may suffer if German ZEW survey data shows a deteriorated outlook for growth and induces capital flight from European assets into the US Dollar and Treasuries.

ASX 200 Looks Consolidative But Record Highs Remain Within Reach

Posted: 15 Jul 2019 10:00 PM PDT

The ASX 200 still looks comfortable close to its record peaks. Momentum appears to be waning a little though and the extent of this bears close watching now

Gold Prices Struggle Despite Dovish Fed, US Retail Sales Data Due

Posted: 15 Jul 2019 10:00 PM PDT

Gold prices are struggling despite dovish guidance from the Fed. This warns they are vulnerable if soft US retail sales data triggers haven-seeking USD demand.

Dow Hits Record High on Most Reserved Activity Since December 2017

Posted: 15 Jul 2019 08:42 PM PDT

The Dow has posted yet another record high and yet it still manages to offer up no enthusiasm in the anticipation of its higher probability course. Quiet in its climb seems to draw far more concern than assurance.

EURSEK Approaching 2-Year Rising Support Channel: Will it Break?

Posted: 15 Jul 2019 08:30 PM PDT

EURSEK appears to be gearing up for another round to retest the 2-year rising support channel after the pair flirted with the lower bound in December 2018.

S&P 500 Record High and Gold Builds Breakout Pressure Under Growth, Trade Wars

Posted: 15 Jul 2019 07:19 PM PDT

The S&P 500 notched yet another record high to start this new trading week, but the volume and progress on the day did little to alleviate doubts. With growth and trade fears rising, my focus on a true break shifts to gold.

AUD Steady, RBA Minutes Show Labor Market Still Key Policy Metric

Posted: 15 Jul 2019 07:00 PM PDT

The Australian Dollar market didn’t find much to love or hate in the latest RBA policy meeting account. The jobs market remains crucial to further action.

AUDUSD Rate to Target May High on Less Dovish RBA Minutes

Posted: 15 Jul 2019 05:30 PM PDT

The Reserve Bank of Australia (RBA) Minutes may fuel the recent rebound in AUDUSD should the central bank tame speculation for another rate cut in 2019.

NZD Edged Higher After CPI Came in as Expected - Will it Last?

Posted: 15 Jul 2019 03:45 PM PDT

The New Zealand Dollar edged modestly higher after CPI data in came in as expected, though underlying fundamental themes may curtail significant upward moves in the Kiwi.

CAD Sank With Crude Oil, Citigroup Earnings Underpin Growth Fears

Posted: 15 Jul 2019 03:30 PM PDT

The Canadian Dollar fell with crude oil prices as Citigroup earnings foreshadowed a disappointing season for banks, underpinning global growth concerns. NZD eyes New Zealand CPI data.

Stock Market Outlook: Earnings Season Begins with a Beat

Posted: 15 Jul 2019 02:40 PM PDT

Earnings from Citigroup (C) on Monday morning marked the start of earnings season and beat expectations. As the week progresses, the market is due for a string of heavy hitters which could stoke volatility.
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