Technical outlook on Gold, USD/JPY, BTC/USD [Video]

Gold confirms a bearish double top, but holds firm above $3,120 support.
USDJ/PY retreats from monthly highs ahead of key U.S. retail sales and Japan GDP data.
BTC/USD consolidates near $100,000, maintaining a bullish structure despite near-term pause.

Christina Parthenidou XM

Author

Christina Parthenidou

Christina joined Trading Point in May 2017. She holds a master degree in Economics and Business from the Erasmus University Rotterdam with a specialization in International economics.

GBP/USD gains as easing Fed hike bets weigh on US Dollar

GBP/USD continues its winning streak for the ninth consecutive day, trading around 1.3390 during the Asian hours on Tuesday. The currency pair rises as the US Dollar faces headwinds as market participants scale back expectations for Federal Reserve rate hikes this month and in September.

EUR/USD extends the range play above 1.1400 as Hormuz risks support USD

The EUR/USD pair extends its sideways consolidative price move during the Asian session on Tuesday, though it manages to hold comfortably above the 1.1400 mark. Moreover, spot prices remain well within striking distance of a nearly two-week high, touched last Thursday.

Gold extends pullback from $4,200 as eyes turn to Fed Minutes

Gold attracts sellers for the second straight day and drops to the $4,125-$4,124 region. Crude oil prices edge higher amid renewed tensions in the Strait of Hormuz, reviving inflationary concerns, and in turn acts as a tailwind for the US Treasury bond yields and a key factor driving flows away from the non-yielding yellow metal.

Bitcoin loses steam around $63,000 – DeFi tokens rally

Bitcoin sustains above $63,000 at press time on Tuesday, upholding a streak of six consecutive days of gains despite Strategy selling 3,588 BTC on Monday. The broader crypto market sentiment holds while DeFi tokens such as DeXe and LayerZero emerge as top gainers over the last 24 hours.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance, arguing that the current world demands more flexibility.