EUR/USD refreshes daily high above 1.1850 ahead of EU data

EUR/USD is trading above 1.1850, as it continues to notch higher on Thursday. Dovish Fed downs the US Treasury yields alongside the US dollar. Rebound in Chinese stocks lifts overall market mood, weighing further on the safe-haven dollar. Eurozone data and US GDP in focus.


Joseph Trevisani
Yohay Elam

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GBP/USD renews monthly top above 1.3900 on softer USD, Brexit optimism

GBP/USD picks up bids to refresh multi-day high above 1.3900. US dollar tracks Treasury yields to the south amid Fed’s dovish tilt. EU softens legal threat over NI protocol on demand of UK’s Frost. UK scraps quarantine rules for fully vaccinated EU, US travelers.


Gold remains on track to test 200-DMA, US GDP awaited

In the aftermath of the Fed decision, gold price is extending its recent run higher, looking to recapture the critical 200-Daily Moving Average (DMA) at $1821. The market mood has improved amid a rebound in the Chinese stocks.

Gold News

SafeMoon Price Prediction: SAFEMOON contemplates 34% gains

SafeMoon price is experiencing a bottom formation as SAFEMOON approaches a crucial support level twice over the past week. If a bounce from this barrier evolves, it will indicate a double bottom reversal in play. SafeMoon price crashed 20% between July 19 and July 20 to $0.00000273.

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US Q2 GDP Preview: Economy to continue to expand at strong pace

The US Bureau of Economic Analysis (BEA) will release on Thursday, July 29, its first estimate of the annualized Gross Domestic Product (GDP) growth for the second quarter. 

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Five factors moving the US dollar and not necessarily to the downside

For the dollar, that light at the end of the tunnel turned out to be a truck roaring at full throttle to run it down. The news of coronavirus vaccines sent stocks higher and the safe-haven dollar lower. Alongside decisive US elections and later some fiscal stimulus, there was no need to run for shelter, and the dollar suffered. 

The Homeworking Revolution: Change accelerates for businesses, real estate and stock markets

The pandemic-fostered explosion of working-from-home will be a permanent change. COVID-19 has reinforced trends that were remaking the business office before the pandemic. Property valuation and tax revenue will flow from cities to suburbs and high-cost to low-cost states.

Top commodities to trade amid global reflation: Silver and copper to outshine gold price

Commodities witnessed an interesting end to a decade in 2020. Traders were caught off-guard by the unprecedented coronavirus crisis last year. Likewise, a strong recovery across the commodities board came as a surprise, bringing them in vogue and kick-starting a super cycle.

FXS Signals

Technical Confluences Detector

Dhwani Mehta

The Fed once again came to the rescue of the bulls, lifting gold price from around the key support around $1792 to take on the upside beyond the $1800 mark. So far this Thursday, gold price is extending the post-Fed rally towards the critical SMA200 one-day at $1821, as Chair Jerome Powell expressed no hurry to embark upon the tapering journey. Powell also dismissed higher inflation as transitory. The dovish Fed outcome smashed the US dollar alongside the Treasury yields, reviving gold buyers.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that gold has recaptured critical resistance at $1815, which is the convergence of the Fibonacci 38.2% one-month, pivot point one-day R1 and Bollinger Band one-hour Upper.

A firm break above the latter has opened gates towards $18211, the intersection of the SMA200 one-day and pivot point one-week R1.

If the buyers seize control above that barrier, then a test of the previous week’s high of $1825 could be in the offing.

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MATIC Price Prediction: Polygon looks to double in market value

MATIC price is currently grappling with a crucial resistance level, a breakdown of which could send it flying to a demand barrier that could trigger a reversal in the short-term downtrend. A 100% upswing to $1.727 is on the cards for Polygon.

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New crypto tax measures will raise $28 billion to fund Senate bipartisan infrastructure deal

Cryptocurrency investors in the United States would be exposed to stricter rules as the Senate aims to collect more taxes. Digital asset businesses would be required to report crypto transactions of over $10,000.

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SafeMoon Price Prediction: SAFEMOON contemplates 34% gains

SafeMoon price dropped roughly 20% between July 19 and July 20, slicing through the range low at $0.00000273. Despite the crash, the recent double bottom formation suggests an upswing is likely.

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ProFund launches first Bitcoin mutual fund amid SEC delays on BTC ETF decisions

A mutual fund company has launched the first Bitcoin Strategy mutual fund. This move comes at a time when the US SEC has delayed multiple decisions on Bitcoin ETFs. ProFund aims to allow individual investors to gain ...

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EUR/USD: The ECB disappointed, will the Fed follow such a lead?

The European Central Bank failed to clarify its new forward guidance. The US Federal Reserve could hint at tapering before year-end. EUR/USD is technically bearish and could pierce the 1.1700 level.

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GBP/USD: Britain's Big Bang gamble, Fed decision critical for next moves

GBP/USD has tumbled to five-month lows as covid fears grip markets. The Fed decision, Brexit news and covid developments are set to rock cable. Late July's daily chart is showing bears gaining ground. 

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USD/JPY: Fed decision, covid in the Olympics and yields to shake the pair

USD/JPY has been trading in tandem with US yields, falling as fear grips markets. The Fed decision, US GDP and the rapid spread of the Delta variant are all eyed. Late July's daily chart is painting a mixed picture. 

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AUD/USD: No respite for the aussie ahead of Fed

Deteriorating economic conditions in Australia hurt the aussie. Eyes on the US Federal Reserve, as it may hint at tapering. AUD/USD is set to extend its decline in the upcoming days.

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Musk changes tune on BTC as adoption and miners continue to make headway

BTC continues to rise after briefly dipping below the $30,000 level. Musk reveals his opinions on the big crypto since Tesla stopped accepting BTC payments. Core Scientific mining firm announced its plans to list on the NASDAQ.

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XAU/USD bears await break below 100-day SMA at $1,796

Gold closed near the lower limit of the weekly channel. Additional losses are likely if XAU/USD breaks below the 100-day SMA. FOMC meeting and US Q2 GDP data highlight next week’s economic calendar.

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BTCUSD: Stay Calm and take advantage 

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