Forex Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

Gold is oversold in the short term
Gold is oversold in the short term

Gold declined below its 1769 key support area yesterday and posted the lowest level since April 15 around 1755 USD/Oz, which is another support that we should keep an eye on.

Pending Orders for EUR/USD
Pending Orders for EUR/USD

EUR/USD traded within a tight range since the mid of last week with no significant action. However, the euro managed to test its major uptrend last week and hold well above that support.

Microsoft hit record high
Microsoft hit record high

These days, investors’ attention is on Microsoft ahead of the company’s Windows 11 event on June 24.

Gold: short-term trade ideas
Gold: short-term trade ideas

Everyone is interested in trading gold (XAU/USD). The meeting of the Federal Reserve at 21:00 MT time (GMT+3) will certainly drive the price.

AUD/USD  is looking badly
AUD/USD is looking badly

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.

USD/CAD is over 1.21 after BoC
USD/CAD is over 1.21 after BoC

The Bank of Canada decided to keep the current policy unchanged as widely expected. However, the bank did not mention anything about tapering again in July.

How about selling EUR/USD?
How about selling EUR/USD?

EUR/USD managed to recover some of its last week’s decline, rising for the 2nd day in a row (Friday & Monday). However, such upside momentum is unlikely to continue.

Is gold ready to shoot up?
Is gold ready to shoot up?

Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.

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