XAU/USD: Long-Term Price Action Favouring Further Downside
- Daily Analysis, Daily Report, Recent Posts, Technical Analysis, Trending Now
- September 28, 2023
Primarily attributed to strength in the buck and a rally in US yields, WTD, the price of spot gold in $ terms is down -3.5% and has cemented position south of $1,900 per ounce in recent trading. This is a dominant one-sided weekly bearish candle! The precious metal, technically speaking, exhibits scope to continue exploring
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/USD Testing Lower Perimeter of Descending Triangle Daily Timeframe – The daily chart of AUD/USD is seen testing the grit of the lower boundary of a descending triangle at $0.6364 after
READ MOREThe FP Markets Research Team produces First Light News during the early hours of the European session, a daily Market Briefing that helps ensure traders and investors are up to date in the macro space for the day ahead. Good morning. It was a quiet one for the economic calendar on Wednesday. US durable goods
READ MOREMajor US equity indices have well and truly been on the ropes in September, with the S&P 500 set to end the month down more than -5.0%. Let’s start by saying, however, that the trend remains north on the bigger picture: the monthly timeframe. This is clear to everyone, and we were on track to
READ MOREThe FP Markets Research Team produces First Light News during the early hours of the European session, a daily Market Briefing that helps ensure traders and investors are up to date in the macro space for the day ahead. Good morning. The major risk event yesterday was consumer confidence data from the US for September,
READ MOREMany desks have described the FOMC rate decision as a ‘hawkish hold’ and the higher-for-longer theme in 2024 is starting to affect risk assets, sending equities lower and yields higher and thus further reinforcing the buck. What’s technically interesting is the longer-term technical picture also reveals that there is room for the US dollar to
READ MOREXJO WEEKLY Price structure: Overall, the view remains Bullish An expanding range to the downside with the test below the 7000 level finding buyers willing to lift the index back towards the 7070 midpoint level. Consolidation continues with the sellers unable to take the market lower and buyers not willing to take the market higher.
READ MOREYour weekly outlook of technical patterns and structure delivered directly to your inbox. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/USD Vulnerable to the Downside Daily Timeframe – The AUD/USD currency pair has been trending lower since pencilling in a top at $0.7158 at the beginning
READ MOREThe FP Markets Research Team produces First Light News during the early hours of the European session, a daily Market Briefing that helps ensure traders and investors are up to date in the macro space for the day ahead. Good morning. It was all about the FOMC rate decision on Wednesday, which left the Fed
READ MOREThe FP Markets Research Team produces First Light News during the early hours of the European session, a daily Market Briefing that helps ensure traders and investors are up to date in the macro space for the day ahead. Good morning. Following the release of the Reserve Bank of Australia (RBA) meeting minutes in early
READ MOREHeadline and Core Inflation Jumps Underpinned on higher gasoline prices, headline inflation jumped to 4.0% in the twelve months to August, up from 3.3% in July and a touch north of economists estimates at 3.8%. From July to August, inflation climbed 0.4%, versus 0.3% expected but lower than July’s 0.6% print. Core inflation rose 3.3%
READ MOREThe FP Markets Research Team produces First Light News during the early hours of the European session, a daily Market Briefing that helps ensure traders and investors are up to date in the macro space for the day ahead. Good morning. Overnight, markets welcomed the latest minutes from the Reserve Bank of Australia (RBA). The
READ MORE