GBP/USD Price Analysis: Bulls taking charge above critical long-term support structure GBP/USD setting up for a bullish continuation above monthly support. The 4-hour resistance needs to be overcome first. Bulls are now up through the monthly resistance. However, there is room for a significant retest of the new support structure, so the upside could well
WTI prices comes under pressure and loses the $53.00 mark. The API reported a 5.8 million barrel drop late on Tuesday. The EIA’s weekly report on crude supplies comes up next. The 2021 rally in crude oil prices remains well and sound for yet another session, with prices of the WTI trading at shouting distance
USD/CHF is moving sideways near 0.8900 on Tuesday. US Dollar Index stays flat on the day near 90.50. 10-year US T-bond yield is rising for the sixth straight day. The USD/CHF pair gained nearly 50 pips on Monday and climbed to a 10-day high of 0.8921. With the financial markets turning subdued in the absence
Bank of England (BoE) policymaker Silvana Tenreyro said on Monday that it’s possible more stimulus, at an appropriate pace, will be needed, as reported by Reuters. Additional takeaways “BoE work on the feasibility of negative rates still in progress, I have nothing new to add to this.” “If that is the case, having negative rates in our
EUR/CAD is on the backfoot but dynamic support could play a role in a bullish correction. Bears will target a downside extension from the daily W’s neckline resistance area.  EUR/CAD on the brink of an upside rejection according to the daily chart’s structure. The following is a top-down analysis that supports a bullish bias for
Here is what you need to know on Monday, January 11: The greenback advanced on Friday despite a disappointing Nonfarm Payroll report, as job losses spurred speculation that more fiscal stimulus is in the docket. President-elect Joe Biden called for immediate further fiscal support, including increased direct payments of $ 2,000. The dollar gains were
EUR/USD briefly dropped below 1.2200 in recent trade but has since recovered back to trade in the 1.2220s. EUR/USD has broken below a short-term upwards trend channel that had been in play since December 2020. EUR/USD briefly dropped below the 1.2200 level in recent trade, a move that coincided with the Dollar Index (DXY) rising
Gold (XAU/USD) wilted on Friday as Treasury yields surged on strengthening risk-on flows amid expectations of higher fiscal stimulus under Biden’s presidency. Prospects of a smooth transition of power in Washington eased political uncertainty, which further added to the weight on the safe-haven gold. The metal lost $70 and touched three-week lows at $1828.62 before