Gold Price Analysis: XAU/USD’s potential short-term reprieve if USD pulls back
on 24 September 2020, in News
Gold is on the verge of a correction to give rise to further bearish prospects. Bears will be seeking resistance to hold in a weekly bearish close. Gold prices have deteriorated in the US dollar’s relentless comeback as investors move away from stocks. The price of the dollar is correlated to gold, so it stands
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AUD/USD stalls at key support juncture, eyes on 38.2 % correction
on 24 September 2020, in News
AUD/USD is held up on the downside at a critical support structure. The focus is now on whether the US dollar gives back some ground before completing a 5-wave technical move to the upside. AUD/USD has been in the hands of the bears all the way to a critical support area and the focus now
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Wall Street Close: Pessimism mounts and stocks don’t like it
on 24 September 2020, in News
The Dow Jones Industrial Average lost 525.05 points, or 1.92%. The S&P500 dropped 78.65 points, or 2.37%. The Nasdaq Composite also fell 330.65 points, or 3.02%. US stocks ended up in the red again on Wednesday and the dollar hit its strongest level in two months.; Invrstors are increasingly concerned by the prospects of the lack of
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EUR/GBP Price Analysis: Bears may wish to sit this one out, or reduce risk
on 24 September 2020, in News
EUR/GBP is bearish below monthly resistance and offers a number of possible trading opportunities. There has to be a tossup between sitting on the sidelines or being the contrarian at reduced risk. The pound is vulnerable to Brexit risks, COVID-19 and negative interest rate sentiment. However, the technical outlook is bearish while the monthly resistance
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Fed Rosengren: Likely to face a credit crunch toward the end of this year if banks come under stress
on 24 September 2020, in News
Boston Federal Reserve Presedent Eric Rosengren says his baseline is for the pandemic to get worse this fall and winter, decreasing economic activity. Key comments Rosengren says he expects some parts of the country will lock down and consumers will pull back if infections rise. Rosengren says weaker growth could extend the time it takes
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EUR/USD Price Analysis: A big level has been broken and the Fib extension puts the next support at 1.16
on 24 September 2020, in News
EUR/USD is trading 0.38% lower and now the consolidation has been broken. The next support is some way away but the Fib expansions show 1.16 could be important. EUR/USD 4-hour chart EUR/USD has broken down over the last few session as the US dollar strength persists. After the Fed disappointed markets at the last FOMC meeting,
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Forex Today: Fear fuels dollar’s demand
on 24 September 2020, in News
Here is what you need to know on Thursday, September 24: The dollar’s rally continued, with the American currency reaching two-month highs against multiple high-yielding rivals. US data was mixed, although business activity remained in expansion territory in September, according to Markit. Nevertheless, concerns about global growth fueled demand for the safe-haven greenback. US Federal
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US election polls: Biden at 50%, Trump 40% – Marquette University
on 24 September 2020, in News
The latest Marquette University survey finds Biden at 50%, compared with 40% for Trump. The president’s job approval rating sits at 41% positive and 58% negative. 51% approve of Trump’s handling of the economy. 38% approve of his handling of the coronavirus. Market implications USD/JPY and US equities will soon be showing their correlation to the
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News
Gold Price Analysis: XAU/USD’s potential short-term reprieve if USD pulls back
on 24 September 2020, in News
Gold is on the verge of a correction to give rise to further bearish prospects. Bears will be seeking resistance to hold in a weekly bearish close. Gold prices have deteriorated in the US dollar’s relentless comeback as investors move away from stocks. The price of the dollar is correlated to gold, so it stands
Read more
AUD/USD stalls at key support juncture, eyes on 38.2 % correction
on 24 September 2020, in News
AUD/USD is held up on the downside at a critical support structure. The focus is now on whether the US dollar gives back some ground before completing a 5-wave technical move to the upside. AUD/USD has been in the hands of the bears all the way to a critical support area and the focus now
Read more
Education
Technical analysis
USD/CAD Intraday: intraday support around 1.3290.
Pivot: 1.3290 Our preference: long positions above 1.3290 with targets at 1.3340 & 1.3370 in extension. Alternative scenario: below 1.3290 look for further downside with 1.3270 & 1.3245 as targets. Comment: a support base at 1.3290 has formed and has allowed for a temporary stabilisation. Supports and resistances:1.3400 1.3370 1.3340 1.3339 Last1.3290 1.3270 1.3245
USD/JPY Intraday: intraday support around 104.85.
Pivot: 104.85 Our preference: long positions above 104.85 with targets at 105.40 & 105.60 in extension. Alternative scenario: below 104.85 look for further downside with 104.60 & 104.40 as targets. Comment: a support base at 104.85 has formed and has allowed for a temporary stabilisation. Supports and resistances:105.80 105.60 105.40 105.00 Last104.85 104.60 104.40
EUR/USD Intraday: capped by a negative trend line.
Pivot: 1.1700 Our preference: short positions below 1.1700 with targets at 1.1660 & 1.1620 in extension. Alternative scenario: above 1.1700 look for further upside with 1.1720 & 1.1750 as targets. Comment: as long as 1.1700 is resistance, look for choppy price action with a bearish bias. Supports and resistances:1.1750 1.1720 1.1700 1.1684 Last1.1660 1.1620 1.1600
AUD/USD Intraday: key resistance at 0.7150.
Pivot: 0.7150 Our preference: short positions below 0.7150 with targets at 0.7110 & 0.7080 in extension. Alternative scenario: above 0.7150 look for further upside with 0.7175 & 0.7200 as targets. Comment: as long as 0.7150 is resistance, look for choppy price action with a bearish bias. Supports and resistances:0.7200 0.7175 0.7150 0.7124 Last0.7110 0.7080 0.7060
USD/CHF Intraday: bullish bias above 0.9180.
Pivot: 0.9180 Our preference: long positions above 0.9180 with targets at 0.9230 & 0.9250 in extension. Alternative scenario: below 0.9180 look for further downside with 0.9155 & 0.9135 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances:0.9265 0.9250 0.9230 0.9211 Last0.9180 0.9155 0.9135
GBP/USD Intraday: the downside prevails.
Pivot: 1.2745 Our preference: short positions below 1.2745 with targets at 1.2645 & 1.2620 in extension. Alternative scenario: above 1.2745 look for further upside with 1.2790 & 1.2825 as targets. Comment: the RSI is bearish and calls for further downside. Supports and resistances:1.2825 1.2790 1.2745 1.2686 Last1.2645 1.2620 1.2600
Daily Market Comment
CIX 3003 en DMB 2020-09-23
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief September 23, 2020 Here are today’s directional
CIX 2995 en DMB 2020-09-22
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief September 22, 2020 Here are today’s directional
CIX 2987 en DMB 2020-09-21
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief September 21, 2020 Here are today’s directional
CIX 2987 en DMB 2020-09-21
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief September 21, 2020 Here are today’s directional
CIX 2979 en DMB 2020-09-18
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief September 18, 2020 Here are today’s directional
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