EUR/USD – The remainder of the week
EUR/USD capped under 1.13 as Lagarde hints at inaction
EUR/USD is trading below 1.13, steady. ECB President Lagarde hinted she will pause in next week's decision while urging leaders to agree on fiscal stimulus. US coronavirus data and Sino-American relations are eyed.
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Breaking: Gold breaks above $1,800, new mutli-year high, next levels eyed
Gold is trading above $1,800, highest since 2012, topping its previous high of $1,797 which now serves as support. The next levels to watch are $1,810 and $1,825. Further out, investors are eyeing $1,911 – the 2011 peak – and $2,000.
GBP/USD holds up around 1.2550 ahead of Sunak's speech
GBP/USD is trading around 1.2550, holding onto its gains. UK Chancellor Sunak is set to lay out the fiscal stimulus plan. Brexit remains deadlocked as Johnson told Merkel that Britain could leave without a deal.
Forex Today: Gold eyeing $1,800, dollar mixed, as coronavirus, Hong Kong peg move markets
Markets are looking for a new direction after stocks retreated and the dollar gained some ground on Tuesday. Concerns about coronavirus cases in the US and geopolitical tensions are in play.
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CRYPTOCURRENCIES
XRP and ADA on fire, BTC lags behind
BTC/USD has barely changed since this time on Tuesday. The first digital asset is changing hands at $9,273 after a move to $9,380 on Monday.
Ripple Technical Analysis: XRP/USD bears take price below $0.185
XRP/USD bears remained in control for the second straight day as the price fell from $0.1852 to $0.1848. Despite the bearish price action, the Elliott Oscillator has had seven consecutive green sessions ...
Ethereum Price Analysis: Will bulls reach $240 in current bounce?
The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV) ...
LTC/USD retests $45 seller congestion zone, where to next?
Litecoin bulls have engaged higher gears in their quest to push the price above $50. From the highs traded in June around $50, LTC/USD embarked on an exercise of trimming gains to the extent of dropping under $40.
SPECIAL WEEKLY FORECAST
EUR/USD Weekly Forecast: The song remains the same
After the financial markets went into chaos in March, and desperately look to stabilize in April, investors began to recover their optimism throughout May and June, hoping for a soon-to-come economic comeback.
GBP/USD Weekly Forecast: Seeing dead cat bounces everywhere, time for another fall
Super Saturday – Brits can go to the pub for the first time since March and may also celebrate the pound's minor recovery. While markets cheered the Non-Farm Payrolls, America's coronavirus situation and Brexit talks will likely continue weighing on cable and could turn into another "dead cat bounce."
USD/JPY Weekly Forecast: Covid sets the pace
The risk-aversion trade to the US dollar takes its signals from the advancing number of virus case in several large American states and the potential for ever stricter economic constraints.
AUD/USD Weekly Forecast: Market´s anxiety having no effects on Aussie
The AUD/USD pair is up for a second consecutive week, and it has recovered the 0.6900 threshold, although it couldn’t run beyond it. In the previous two weeks, the pair met sellers in the 0.6970 price zone.
Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive
The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.
Gold Weekly Forecast: What happened the last time gold broke out of its highs after such a long pullback
Despite some positive data this week there still seems to be lots of reasons for investors/traders to look for some safety. The COVID-19 pandemic is showing no signs of slowing down in the US as a record number of cases is being printed almost every day.
FOREX INDICATOR: CONFLUENCES
The flight to safety theme, in the face of rising coronavirus cases and regional lockdowns globally, drove Gold drove to its highest level since November 2011. The price, however, fell an arm’s distance short of the $1800 mark. Let’s see how it is positioned for the day ahead.
The Technical Confluences Indicator shows that the yellow metal is likely to face a small hurdle near $1798 (eight-year high) before the bulls resume its quest for the 1800 handle.
On a break above the latter, the next resistance is seen at $1806, the pivot point one-week R2.
Alternatively, the immediate downside could be cushioned at the pivot point one-week R2 near $1791.50.
The buyers will likely remain hopeful as long as the bright metal holds above the critical $1789 support, where the Bollinger Band one-hour Middle, SMA5 4H and previous week high.
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