Gold’s failure to rebound from $1,850 joins bearish MACD signals to keep sellers hopeful as markets await the key US inflation numbers.
Although the weekly channel restricts EURUSD moves while other major currency pairs portray heavy selling against the USD, the bearish flag formation joins downbeat MACD and RSI signals to keep sellers hopeful.
Although a fortnight old rising channel portrays the bull’s command over Brent oil, backed by the fears of a supply crunch, the commodity prices have failed to portray a notable run-up.
Despite reversing the post-Fed rally, gold prices remain beyond a three-day-old ascending support line, around $1,870 by the press time, ahead of the US Nonfarm Payrolls (NFP) release on Friday.
GBPUSD stays near the two-year low, despite the post-Fed rebound, as cable traders brace for the Bank of England’s (BOE) 0.25% rate hike.
EURUSD holds onto the one-week-old sideways grind ahead of the key Federal Open Market Committee (FOMC).
On Friday, silver prices closed at the lowest levels last seen during early February while portraying a seven-day downtrend.
USDCAD refreshed a seven-year high on Thursday before reversing from a downward sloping trend line from December 2021.
Gold sellers cheer firmer US dollar and a sustained break of the three-month-old ascending trend line at the lowest levels in nine weeks ahead of the key US Q1 2022 GDP data.
AUDUSD rebounds from a two-month low, also snapping a four-day downtrend, by cheering a strong quarterly inflation data at home.
EURUSD prices remain above a five-month-old downward sloping support line.
GBPUSD extends pullback from 1.3090 ahead of the key UK data, as well as a speech from the BOE Governor Andrew Bailey, during early Friday.
