AUD/USD bears are denied more downside, risk-on into RBA

After what has been a waterfall sell-off in the commodities sphere pertaining to central bank divergences and the latest coronavirus variant seeing its way to all corners of the globe, AUD is finally putting a floor down around 0.70 the figure.

AUD/USD News

EUR/USD stays directed towards 1.1230 inside weekly falling channel

EUR/USD struggles to keep the latest rebound from 1.1266 around the support-turned-resistance line during the initial Asian session on Tuesday. The major currency pair stays inside a nearby descending trend channel formation around 1.1285.

EUR/USD News

Gold trapped between the 100 and the 200-hour SMA, as bulls prepare an attack to $1800

Gold edges lower during the New York session, trading at $1,779, down some 0.25 %, at the time of writing. The market sentiment is positive due to good news regarding the omicron variant; even though it is highly transmissible.

Gold News

Dogecoin price correction slows down as DOGE bears book profits

During a flash crash, Dogecoin price has taken out a few pivotal support elements. DOGE downtrend keeps continuing but could see a U-turn today or tomorrow. Expect investors to pick up the sharp discount in DOGE discounted price action and see a quick pop back towards $0.2630.

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Markets gain ground on encouraging Omicron report

Markets on the rise, as Tshwane Omicron report brings hope Monetary implications for mild variant brings potential for USD and GBP fight back Airlines on the rise on reports that the EU could remove restrictions on African countries

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DEEPER DIVE

When is a taper not a rate hike? Whenever the Fed says so Premium

The questions around the primary topic in world markets continue to grow. Will the Fed announce the long-awaited taper of its bond program at its September meeting? How much depends on the August payrolls report in early September, on equity levels, on the pandemic, on global political tension? 

Five most predictable currency pairs, technically and fundamentally, ranked Premium

Not all currency pairs are born equal. What makes a pair predictable? When the price approaches a significant support or resistance line, such a currency pair would either slow down and eventually turn around – or make a clear break and leave dust behind it.

Omicron: What it means for markets and two headlines to watch out for Premium

"When you have to shoot, shoot, don't talk" – that famous line from "The Good, the Bad and the Ugly" resonated with what some governments did in response to the discovery of Omicron, a new and potentially dangerous COVID-19 variant. Markets also "shot first" by selling, then sat down to think.

FXS Signals

Technical Confluences Detector

Dhwani Mehta

The mixed US employment report fails to deter the Fed’s faster tapering and tightening expectations, which could likely temper gold’s solid recovery from monthly troughs. Although the downside appears cushioned in the bright metal amid looming uncertainty over the Omicron covid variant and upcoming US Inflation data. The renewed upside in gold could pick up pace should the Treasury yields and the US dollar fade their rebound, in the face of a data-light docket.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the gold price is consolidating Friday’s rebound below the SMA10 one-day at $1,785.

Gold bulls await a sustained break above the latter to test a strong upside barrier in $1,787, which is the confluence of the Fibonacci 23.6% one-month, SMA50 four-hour and Friday’s high.

Critical resistance at $1,792 is the level to beat for gold bulls. That price zone is the intersection of the SMAs50, 100 and 200 one-day.

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CRYPTOCURRENCIES

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets set to recover after recent flash crash

Bitcoin price is currently consolidating after a minor recovery from the brutal sell-off on December 4. The recent uptick in buying pressure has pushed BTC higher, and altcoins have followed suit. Going forward, investors can expect Ethereum, Ripple and others to continue heading higher.

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Metaverse and dog-themed tokens beat Bitcoin as top performing cryptos in 2021

Bitcoin’s dominance takes a hit as metaverse, and dog-themed tokens gain popularity. Over the past two months, there has been a massive spike in active wallet addresses holding Shiba Inu. 

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Renowned crypto analysts evaluate whether a bear market has started

Bitcoin price wiped October gains in the recent crash over the weekend, leading analysts to question whether the bear market has started. Bitcoin’s two-month-long bearish streak is indicative of a bear market. 

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Decentraland's MANA token primed for another downswing before 20% rebound

Decentraland price might provide a ‘buy’ opportunity before the buyers make a comeback and trigger a minor upswing. Investors need to pay close attention to one vital support level where the reversal is likely to occur.

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WEEKLY FORECAST

EUR/USD under pressure sub-1.1300 as higher yields back the greenback Premium

The dollar recovered ground in the American session, helped by higher US government bond yields. The 10-year US Treasury bond yields 1.43% at the time being, after starting the week around 1.37%.

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GBP/USD: Another dollar surge? US inflation could outweigh Omicron, UK GDP Premium

GBP/USD has been under pressure amid Omicron and Fed fears. US inflation, UK GDP, and virus headlines are set to rock cable.  Early December's daily chart shows bears are in the lead. The FX Poll is pointing to short-term losses and gains afterward.

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USD/JPY: The Omicron identity Premium

Omicron panic on Friday November 26 set the week’s stage. Currency and Treasury markets waiting for proof the variant is dangerous. US NFP weakens Treasury yields and the dollar as payrolls miss forecast. The FXStreet Forecast Poll predicts a technical rebound.

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AUD/USD: Nose-diving and poised to challenge 0.7000 Premium

The AUD/USD pair is in free fall, trading at  0.7018 at the time of writing, its lowest since November 2020, and likely to end the week nearby. The American dollar strengthened on the back of risk aversion and chances of further tightening in the US.

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The bull and the bear case for BTC

Bitcoin price saw a recent bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. With directional bias and choppy price action, BTC is likely to experience massive volatility as the situation resolves over time. 

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Gold sellers eye $1,750 as Fed stays on tightening path Premium

Gold started the week under modest bearish pressure and closed in negative territory on Monday and Tuesday. Following an uninspiring recovery attempt toward $1,800 on Wednesday, XAU/USD struggled to hold its ground and touched its lowest level in a month @1,761. 

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THE STOCK OF THE DAY

Nio Inc keeps falling, the $34 mark tested

NYSE: NIO lost another 5.50% of its value on Thursday, as the downward spiral in the electric vehicles (EV) extended into the third straight day. The stock price tumbled to the lowest levels in three months and tested the $34 mark before reversing sharply to settle at $36.20. Shares of Chinese EV maker fell further on the growing concerns over the Omicron covid variant, although bucked the positive momentum on the Wall Street indices. 

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