David Song
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EUR/USD Struggles to Trade Back Above Former Support Zone
The opening range for December is in focus for EUR/USD as it appears to be stuck in a narrow range.
GBP/USD Recovery Vulnerable as Bear Flag Formation Takes Shape
GBP/USD may stage additional attempts to test the May low (1.2446) as a bear-flag formation appears to be taking shape.
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USD/CHF Pullback Faces Positive Slope in 50-Day SMA
USD/CHF may defend the rally following the US election should it track the positive slope in the 50-Day SMA (0.8692).
USD/CAD Defends Post-US Election Rally to Eye November High
USD/CAD may test the November high (1.4178) as it appears to be defending the rally following the US election.
AUD/USD Approaches November Low with Australia GDP on Tap
AUD/USD approaches the November low (0.6434) as it gives back a three-day rally.
US Dollar Forecast: USD/JPY Gives Back Post-US Election Rally
USD/JPY trades to a fresh monthly low (150.46) as it gives back the advance following the US election.
EUR/USD Recovery Eyes Former Support Zone Around April Low
The recovery in EUR/USD may turn out to be temporary if it struggles to trade back above the former-support zone around the April low (1.0601).
US Dollar Forecast: GBP/USD Still Vulnerable to Test of May Low
GBP/USD may attempt to test the May low (1.2446) if it fails to defend the monthly low (1.2487).
US Personal Consumption Expenditure (PCE) Report Preview (OCT 2024)
The update to the US PCE index is anticipated to show a rise in both the headline and core reading.
NZD/USD Rebounds Ahead of 2023 Low with RBNZ Expected to Cut
NZD/USD bounces back ahead of the 2023 low (0.5774) to keep the Relative Strength Index (RSI) above 30.
US Dollar Forecast: USD/CAD to Face Uptick in US PCE Index
The depreciation in USD/CAD may turn out to be temporary as the US Personal Consumption Expenditure (PCE) Price Index is anticipated to show sticky inflation.
Gold Price Stages Five-Day Rally for First Time Since March
The price of gold trades back above the 50-Day SMA ($2664) as it stages a five-day rally for the first time since March.
US Dollar Forecast: USD/CHF Rally Eyes July High
USD/CHF may further retrace the decline from the July high (0.9051) as it trades to a fresh monthly high (0.8938).
GBP/USD Selloff Pushes RSI Up Against Oversold Zone
GBP/USD falls to a fresh monthly low (1.2576) as it gives back the advance from the start of the week.