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Gold Price Mixed Around $1,924 as Dollar Bulls Mount
XAU/USD could jump higher if it stays above the lower median line (LML). A new higher high activates further growth. Staying near the lower median line (LML) may announce an imminent breakdown. The gold price retreated slightly in the short term, now at $1,924. A retracement was expected after an impulsive move to $1,947 last...
USD/CAD Outlook: Dollar Firms Amid Fed’s Recent Hawks
Fed officials issued warnings on Friday regarding the likelihood of future rate hikes. Markets estimate a roughly 21% chance of a 25-basis-point Fed rate hike in November. Data indicated a 0.3% growth in Canadian retail sales in July compared to June. Today’s USD/CAD outlook is bullish as the dollar holds steady amid increased rate hike...
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EUR/USD Weekly Outlook: US NFP Reports Lesser than Expected Jobs
The Fed unanimously decided to keep interest rates unchanged at the last meeting. The US released a mixed employment report. Although the US added fewer jobs than expected, the unemployment rate fell. The EUR/USD weekly outlook is bullish as the US labor market has shown signs of easing. Therefore, the dollar might continue its decline...
Gold Price Continues Downside After Lower Canadian Inflation
The bias is bearish, so a further drop is expected. A new lower low activates more declines. The S1 is seen as a potential target. The gold price extended its sell-off, trading at $1,908 at the time of writing. The downside pressure is high and the XAU/USD could approach new lows. –Are you interested in...
