NZD/USD Price Outlook: Buyers maintain control close to one-month peaks
The NZD/USD currency pair experienced some ups and downs on Thursday. The Reserve Bank of New Zealand’s (RBNZ) aggressive approach helped boost the Kiwi, yet US dollar strength limited any significant gains. At the moment, it’s trading around 0.5842 after reaching a one-month peak earlier this week. After two days of decline due to disappointing […]
Gold Price Outlook: XAU/USD remains under 20-day EMA, likely to decline further below $3,940
Gold prices (XAU/USD) dropped by 0.7%, hovering around $4,030 during Thursday’s European trading session. Precious metals are under pressure from selling as inflation worries persist worldwide, especially with rising energy prices linked to heightened military tensions between the U.S. and Iran. On the same day, a drone struck an oil tanker at Iraq’s Basra terminal, […]
Silver Price Outlook: XAG/USD declines towards $56.50 after retreating from nine-day EMA
The XAG/USD has seen a continued decrease for the second consecutive day, hovering around $56.80 per troy ounce during European trading hours on Thursday. Analyzing the daily chart indicates that the asset’s current price is slightly under the upper limit of a descending channel, hinting at a persistent bearish trend. This suggests that sellers are […]
EUR/USD Price Outlook: Approaching the upper range at 1.1485 with increased momentum
The euro (EUR) gained some ground, while the U.S. dollar (USD) saw a rebound on Thursday. This shift followed recent U.S. inflation figures that led to a significant reevaluation of expected rate hikes from the Federal Reserve. The EUR/USD pair climbed to the higher end of the 1.1400 range and is now testing the upper […]
GBP/USD Price Outlook: Continues positive upward trend above 1.3500 despite small declines
The GBP/USD pair is experiencing a slight decline, hovering around 1.3535 in early trading on Thursday. Traders seem to be adopting a cautious stance ahead of key economic reports, including the UK’s gross domestic product (GDP) and US retail sales, both set to be released later today. There’s been a notable increase in speculation regarding […]
EUR/JPY Price Outlook: Approaching the upper edge of the rising triangle around 186.00
EUR/JPY Currency Update After a three-day upswing, the EUR/JPY has dipped, hovering around 185.90 during Thursday’s Asian trading session. Despite this recent decline, it still sits comfortably above both the 9-period and 50-period exponential moving averages (EMAs), which maintains a somewhat positive outlook. The 14-day Relative Strength Index (RSI) is near 56, indicating that while […]
USD/CHF Price Outlook: Breaks rising wedge, bears target 0.8000
The USD/CHF currency pair dropped below the rising wedge, declining over 0.62% and reaching near three-day lows on Wednesday. It has fallen past the swing low from July 14, which was at 0.8067. Currently, the pair is trading at around 0.8041. USD/CHF Price Forecast: Technical Overview Even though the USD/CHF trend remains upward, the breach […]
USD/CHF Price Outlook: Resurfaces at 0.8100; targets year-to-date high reached on Tuesday in a positive trend
The USD/CHF pair saw a boost in buying on Wednesday, pulling away from the weekly low around 0.8060 that was recorded the previous day. During early European trading, the price climbed to a daily peak, with bulls aiming to push above the 0.8100 threshold. As market participants reacted to the weak US Consumer Price Index […]
Euro rises slightly against British Pound as oil increase boosts ECB rate outlook
Market Update: EUR/GBP Movement and Central Bank Actions In the early trading sessions across Europe on Wednesday, the EUR/GBP exchange rate rose to around 0.8535. This uptick comes as traders ramp up their expectations for interest rate increases from both the Bank of England (BOE) and the European Central Bank (ECB), largely driven by concerns […]
EUR/USD Price Outlook: Bulls stay wary beneath the 23.6% Fibo and 1.1470 barrier.
The EUR/USD pair is seeing some bullish interest after bouncing back from a horizontal resistance level that was established at 1.1460-1.1470 the previous day. Still, it hasn’t really broken free from the range observed a few weeks back. During the Asian session on Wednesday, prices remained between 1.1435 and 1.1440, marking a second consecutive day […]