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Gold should be getting hammered but isn’t - that’s interesting

If gold can’t weaken substantially in these conditions, when will it? And what happens when the tide eventually turns, with the US dollar and bond yields turning lower?

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September 21, 2023 06:01 AM
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Dollar analysis: EUR/USD, DXY and Gold in focus - Technical Tuesday

Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this edition of Technical Tuesday, we will analyse the EUR/USD, Gold and the Dollar Index.

Gold bulls reclaim key levels, ASX 200 pulls back to support: Asian Open

Gold provided a false break and recovery bac above its 200-day EMA last week, and Monday's trade saw gold find support back above its 200-day MA. The ASX 200 handed back around half of Friday's gains, although there's a reasonable chance it might be able to find support around 7200 given the 200-day EMA resides in the area.

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September 18, 2023 11:36 PM

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Gold nuggets

Gold outlook: Metal not out of woods yet as FOMC decision looms

Gold was able to climb in the last two days of last week despite the US dollar and bond yields pushing higher. The precious metal gained ground on Friday as stocks reversed their earlier gains to close lower before falling further today. In other words, the metal has been supported by haven flows in the last few sessions. Gold was attempting to gain further ground today, but unsurprisingly was struggling to do so.

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September 18, 2023 04:00 PM
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US Dollar Technical Forecast: EUR/USD, GBP/USD, Gold, USD/JPY

The focus shifts to the Fed next week, with the big question as what the bank sees on the horizon for the rest of the year. US data has remained hot but there are minimal expectations for any actual moves next week.


Gold Prices Test Key Support as USD Strength Drives to Fresh Highs

Gold prices are testing a massive spot of support above the 1900 handle, even as the US Dollar jumps to fresh highs. Can gold bulls turn a support test into a swing?

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September 14, 2023 08:37 PM

Gold outlook: Metal turns positive after ECB’s dovish hike

Gold was lower earlier, but after nearing the key $1900 level it has bounced back to turn positive. The gains are probably driven in part by short-side profit taking and after the ECB signalled it is done with rate hikes, earlier. XAUUSD was still below its 200-day average, which means it is at risk of suffering renewed falls should the US dollar extend its gains further, after rising for 8 consecutive weeks against a basket of foreign currencies.

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September 14, 2023 05:43 PM

Gold outlook dims as US inflation heats up again

So, the inflation battle continues for the Fed as we the latest CPI data come in stronger. This should keep the dollar supported against currencies where the central bank is expected to turn dovish. The likes of the euro and pound come to mind. Gold and possibly stocks may also struggle as the renewed surge in inflation may force the Fed to hike interest rates perhaps one more time before the end of the year.

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September 13, 2023 05:03 PM

Gold probes the 200-day EMA ahead of US CPI: Asian Open – 13/09/2023

A stronger US dollar weighed on gold prices on Tuesday, but the 200-day EMA came to the rescue. We suspect we could be in for some quiet or choppy trade heading into today's key CPI report, but if gold can drop some clues around a key resistance zone, perhaps it can provide an opportunity before the event.

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September 12, 2023 11:09 PM

Pre-CPI US Dollar Price Action Setups: EUR/USD, Gold, USD/JPY

The US Dollar is holding near resistance ahead of high-impact data, with tomorrow’s CPI release followed by the Thursday ECB rate decision, and then next week’s FOMC meeting.

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Dollar analysis: EUR/USD, USD/CAD and Gold outlook - Technical Tuesday

Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this edition of Technical Tuesday, we will analyse the EUR/USD, USD/CAD and gold. The EUR/USD was clinging onto the 1.07 handle at the time of writing. The lower highs and lower lows on the EUR/USD mean that the technical outlook remains bearish until the charts tell us otherwise.

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September 12, 2023 03:20 PM

Gold analysis: Metal off highs as outlook remains bearish

Earlier, gold managed to recoup some of its weekly losses as it found support on the back of slight weakness for the dollar and bond yields. However, at the time of writing, it was coming noticeably off its earlier highs and threatening to turn red. It looks like the earlier recovery was driven by short-covering. Overall, the current market environment is not too supportive for gold, and not a lot has changed today.

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September 8, 2023 04:46 PM
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Dollar analysis: DXY, EUR/USD, Gold and USD/CAD in focus – Forex Friday

Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will focus the US dollar, gold, USD/CAD and EUR/USD, ahead of next week’s key events: US CPI and ECB policy decision.


Gold stabilises around support, USD/CNH hints at breakout: Asian Open

Gold has pulled back to an important support zone between the 200-day averages, and with yields pulling back perhaps it can muster up the strength for a burst higher. USD/CNH is also on the cusp of a breakout despite earlier reports that China's state banks are actively selling the pair.

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September 7, 2023 11:37 PM

Gold has looked healthier on the charts

Gold's outlook has turned nasty, at least when priced in US dollars, breaking its uptrend along with the 50-day moving average.

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September 7, 2023 03:10 AM

Gold may be lower against the dollar, but it’s holding up elsewhere

Despite competing with the strength of the dollar, gold has been trading higher against all other major currencies since its low in August. This could suggest that gold is acting as a safe haven, even if it is not immediately obvious from the XAU/USD chart.


Gold outlook: Metal could drop as dollar and yields remain supported

With bond yields still very high, the opportunity cost of holding gold, an asset that doesn’t pay any interest or dividends, is the interest you would forgo by not holding government debt. For large institutional investors, investing in government bonds has been a more attractive proposition than gold. In these onditions, it is difficult to be too bullish on gold.

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September 5, 2023 12:00 PM

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Gold, EUR/AUD analysis: Asian Open – 05/09/2023

Outside of China's equity markets, ranges were limited on Monday due to the long Labor Day weekend in the US. But with economic data picking up and volumes likely to be replenished, hopefully volatility will follow. We take a look at a couple of potential setups on the gold and EUR/AUD daily charts.

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September 4, 2023 11:50 PM
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Gold gains as major market risks subside

With the US dollar and bond yields soaring until just over a week ago, it’s remarkable the gold price didn’t fall further during August.

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September 4, 2023 07:09 AM

Gold, DAX: Forecast Two Trades to Watch

Gold looks to US non-farm payroll data. DAX struggles ahead of manufacturing PMIs & US NFP.

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September 1, 2023 07:30 AM
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Gold grinds higher ahead of key inflation reports

Gold facing significant two-way price risk as major inflation reports loom on the horizon.

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August 31, 2023 03:19 AM

EUR/USD, DAX, gold analysis: European open – 30/08/2023

With hopes that the Fed have reached their terminal rate reignited, we now need to see incoming US data continue to soften to justify the larger moves south for the US dollar and yields on Tuesday. And if data such as GDP and NFP disappoint, it could be beneficial for markets such as EUR/USD, gold and the DAX - all of which we look at today.

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August 30, 2023 05:43 AM

Gold: make-or-break week for USD as short-dated yields test fresh highs

A pivotal week for interest rates and the sustainability of the US dollar rally.

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August 29, 2023 01:16 AM