Author: FX
In this video technical analysis, Greg Michalowski explains why the market does what it does by looking at the price action in the AUDUSD. The video outlines the bias and risk and gives his technical views – supported by the price action. Watch and learn. Source link
Silver prices have risen by 27% since mid-October 2022. Economists at ANZ Bank expect XAG/USD to perform well in 2023. Silver should not be ignored “We expect prices to correct in the short-term, but fundamentals are likely to be supportive over the next 12 months.” “The supply-demand balance looks strong. The growing adoption of green energy sources continues to favour fabrication demand for Silver. Silver stocks are falling at exchanges, suggesting a tighter market. Bar and coin demand continued to be high, and the premium for coins remains elevated.” “We expect Silver to perform well, in tandem with Gold, as…
Swiss Franc among worst performers on Friday. USD/CHF heads for weekly loss, but off lows. EUR/CHF extends rebound, approaches parity. The USD/CHF is up on Friday, but still down for the week. The pair surged to 0.9234, hitting the highest level in two days and then pulled back toward 0.9200, amid a weaker US Dollar. On a weekly basis the pair is down by less than 50 pips, after recovering from 0.9080. The weekly close far from the bottom shows some difficulties for the Swiss franc extending the rally. Dollar lows The greenback lost momentum following the London fix and…
Gold price booked a fifth straight weekly gain. XAU/USD could extend the uptrend to $1,950, as FXStreet’s Dhwani Mehta notes. Daily technical setup favors Gold bulls “Gold price rebound from the horizontal trendline support around $1,897 levels has revived the uptrend, with buyers positioned for a test of the $1,950 psychological level. The next stop is envisioned at the April 20 and April 22 highs around $1,958. A sustained break above the latter will trigger a fresh rally toward the critical $2,000 threshold.” “Gold sellers will once again challenge support just beneath $1,900 should investors resort to profit-taking on their…
The Yen saw a boost from the BoJ initiating the beginning of the end to its Yield-Curve-Control. Economists at Danske Bank expect the USD/JPY pair to edge lower towards the 125 over the coming months. Tightening cycle commencing “Japanese monetary policy has taken over as a key driver of USD/JPY, while global inflation, bond yields and commodity prices are still important to watch.” “We look for a stronger JPY to come as Bank of Japan tightens monetary policy and the tightening cycle concludes in the US and Europe.” “We now forecast USD/JPY at 128 (1M), 125 (3M), 125 (6M) and…
Mullen Automotive stock is losing value on Friday. MULN stock has lost more than -16% YTD. To continue its production ramp up goals, Mullen will probably need to keep diluting shareholders. Mullen management could boost oustanding shares from 1.7 billion to 5 billion. Mullen Automotive (MULN) has experienced an awful slide this week. Early January’s rally has now dissipated, and MULN stock is down -16.5% this week alone and -15% for the year. This is despite rising as much as 66.6% year to date early in the month. Equity markets have risen on Friday, and NASDAQ futures are well of ahead of other…
Gold price is set to finish the week around $1920s after hitting a multi-month high of nearly $1938. Thursday’s US economic data was mixed, showing that the labor market is far from portraying an upcoming recession. Gold Price Analysis: The 100-DMA crossed above the 200-DMA, further cementing the upward bias. Gold price retreats from multi-month highs ahead of the weekend due to the US Dollar (USD) recovering some ground and elevated US Treasury bond yields, despite recessionary fears around the US economy. Hence, the XAU/USD is retracing from daily highs of $1937.91, exchanging hands at $1926.42, down 0.28%. Gold’s reman…
Near-term ECB policy outlook has been the driver of EUR volatility this week. A diverging monetary plicy between Fed and ECB is set to boost the Euro, according to economists at MUFG Bank. ECB policy rate to reach 3.00% by the end of this quarter “We are sticking with our forecast for the policy rate to reach 3.00% by the end of this quarter. A scenario that is not fully priced into the eurozone rate market which is currently expecting a total of 93 bps of hikes to be delivered at the February and March policy meetings.” “We expect ECB…
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The Loonie continues to find it difficult to hold its ground. Economists at Commerzbank see limited CAD recovery potential in the medium term. CAD is likely to have a hard time for the time being against the EUR “In view of the robust economy and active BoC, we see further limited CAD recovery potential against the USD in the medium term, supported by weakening USD strength. The interest rate differential could temprarily narrow somewhat if the Fed lowers its key rate from the end of 2023, as we expect, and the BoC does not follow suit (to the same extent).”…