EUR/USD bounces toward 1.1750 amid low US yields

EUR/USD is trading closer to 1.1750, off the lows, as weak American ten-year yields weigh on the dollar. US factory orders beat estimates and coronavirus statistics are awaited. 



GBP/USD bounces off 1.30 as the dollar takes a breather

GBP/USD has bounced off 1.30 as the dollar pares some of its gains and as concerns around the UK coronavirus situation mount. A lockdown in London is a remote possibility but still on the cards.


Gold advances toward $2,000 as the dollar retreats

XAU/USD is trading above $1,980, close to the all-time highs, and with $2,000 in sight. The retreat of the US dollar goes hand in hand with the precious metal's advance. 

Gold News

What you need to know about trading in August

The generally received wisdom is that summer is a quiet month for trading. Traders are on holiday and markets quieten down. That’s the expectation among many. However, the reality is that August can be one of the most volatile trading months of the year.

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Dhwani Mehta

Gold has been edging higher but seems shy of staging a major breakout. The precious metal is pushed higher by the failure of American politicians to reach an agreement on extending federal unemployment benefits and other emergency programs. That implies a bigger package down the road – and more importantly for XAU/USD more monetary stimulus.

On the other hand, hopes for a coronavirus vaccine remain robust as Novavax and other companies are moving forward to provide immunization. Stocks, bonds, and precious metals are looking for a new direction.

How is gold positioned on the charts? Significant hurdles loom over XAU/USD, implying another attempt to push the precious metal to the upside seems futile. However, after extending the downward correction, gold may be ready for the next bullish move – as fundamentals continue pointing higher.

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Chainlink shines, ETH/BTC unstoppable

The global markets are under pressure again as investors are waiting to see of the new fiscal stimulus is approved. The European stocks are sliding down, while the US index futures also edge down. 

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All phases of Ethereum 2.0 will positively impact the network – Analyst

The anticipation of Ethereum 2.0 is continuing to rise as the activity on the network is surging. Kelvin Koh, the co-founder of venture capital firm Spartan Group, has recently said that ETH 2.0 will have play a key role in the growth of the network.

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ETC/USD faces stiff resistance at $7.35

Ethereum Classic (ETC) settled in a range above $7.00 after wild price swings on the weekend. At the time of writing, ETC/USD is changing hands at $7.20, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. 

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ADA/USD bulls remain in control as price goes up

Cardano successfully launched the Shelley hard fork a few days back and it currently has >620 active stake pools. These pools have a total of 2.74 billion ADA committed to staking. According to ...

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EUR/USD Weekly Forecast: Non-Farm Payrolls may trigger much-needed (temporary) correction

Europe's coronavirus advantage over the US has been one of the prominent reasons for EUR/USD's advance. Can the rally continue? The next moves mostly depend on the dollar side of the equation – with Non-Farm Payrolls standing out. Summer is proving volatile for the world's most popular currency pair. 

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GBP/USD Weekly Forecast: Will Bailey bail out the bears? BOE, buildup to NFP set to rock rising cable

Benefiting from the misery of others – there was nothing to support the pound, but the dollar's weakness proved more influential. Will this trend extend or reverse? An updated view on the US labor market via the all-important Non-Farm Payrolls, the Bank of England's rate decision, and coronavirus-related news is all of the interest. 

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USD/JPY Weekly Forecast: Friday’s are for profit taking

Dollar/yen breaks 106.00 support on Monday and 105.00 on Wednesday. General dollar weakness infects USD/JPY down 2.5% in six sessions to Friday’s low. US statistics, Covid, stimulus paralysis in Washington played a part in drop. Ministry of Finance comments, profit taking, better US statistics, Treasury rates and month-end positioning prompted sharp dollar recovery on Friday.

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AUD/USD Weekly Forecast: RBA in tough spot as AUD/USD surges to 18-month highs

The AUD/USD pair closed the first four days of the week in the positive territory and touched its highest level since February 2019 at 0.7228 during the Asian trading hours on Friday. Although the pair staged a technical correction and pulled away from its highs, it finished the sixth straight week in the positive territory and gained more than 4% in July.

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Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

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Gold Weekly Forecast: There are some very interesting Fibonacci extensions from the 1980's

There has been lots of data to digest this week and maybe the Fed's, non-committal tone was enough to put the breaks on gold for now. The Federal Reserve has stated they keep the rate of QE at the current levels. There could have been a small chance that they would have committed to a more aggressive stance.

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