Gold has pulled back by $10 from session highs.  The 4-hour chart is beginning to lean bearish. Gold is trading near $1,993 at press time, representing a 0.4% decline on the day. The yellow metal faced rejection at $2,015 on Tuesday.  The 4-hour chart relative strength index has dived out of an ascending/bullish trendline. As such, the […]

Analysts at MUFG Bank, point out the South African rand (ZAR) has become more closely linked to the performance of the Turkish lira (TRY) providing in a proxy. They maintain a long USD/ZAR trade idea with a target at 18.400. Key Quotes: “The ZAR has become more tightly linked to negative developments in Turkey, and

S&P 500 Futures defy Friday’s losses to stay near six month’s high. US House Speaker Nancy Pelosi recall the session, hopes of stimulus discussion pick-up without saying. Sino-American trade review meeting gets delayed, coronavirus tightens the grip. Japan marks the worst GDP reading since 1980 before a policymaker signals measures to combat the pandemic. S&P

The US fiscal gap or budget deficit as a percentage of gross domestic product is expected to hit 18% in 2020, a level not seen in the past 75 years, as noted by Jeroen Blokland, Portfolio Manager at the Robeco Multi-Asset funds.  The budget deficit is expected to balloon due to the passage of the record setting CARES Act,

GBP/JPY defies the previous day’s U-turn from 139.50 while bouncing off 138.85. Sustained trading beyond 61.8% Fibonacci retracement keeps bulls hopeful. Sellers will wait for a clear break below 200-day SMA, an eight-month-old falling trend line. GBP/JPY picks up the bids near 139.10, up 0.10% on a day, during Wednesday’s Asian session. The pair surged

USD/CAD’s key SMA studies have produced a death cross.  SMA crosses are lagging indicators and often trap traders on the wrong side of the market. USD/CAD is trading near 1.3330 at press time, representing a 0.15% decline on the day. The bulls failed to clear the psychological hurdle of 1.34 on Monday.  The daily chart shows

Gold’s daily chart shows early signs of bearish reversal.  A move below Friday’s low of $2,015 would confirm the trend change. Gold is trading near $2,031 per ounce at press time, having put in a session low of $2,019 early Monday.  The yellow metal created a bearish outside day candle on Friday, as prices clocked a

USD/JPY struggles for a clear direction after flashing three days of losses. US Senators fall apart in stimulus talks, pushed to ignore August vacation. Washington-Ottawa trade tussle, virus woes add to the risk-off mood. American jobs report, talks over the aid package will be the key catalysts. USD/JPY makes rounds to 105.50 during the initial

EUR/USD seesaws around the week’s top inside short-term bullish chart pattern. A sustained run-up beyond 200-HMA, bullish MACD favor the buyers. Sellers will wait for a clear break below 50% Fibonacci retracement for fresh entries. EUR/USD picks up the bids near 1.1810, up 0.06% on a day, during Wednesday’s Asian session. The major pair cheers

The prior head’s up, Australian new coronavirus cases, Victoria said to have 439 cases added today, has been confirmed with Victoria reporting 439 new coronavirus cases. As the Guardian writes,  Daniel Andrews confirms the 439 new cases of covid and says 11 people who had been diagnosed with virus died in the last 24 hours.  One man in