Page 45 - Christopher Vecchio News Today

British Pound Forecast: Sterling Crosses Prove Tired - Setups for EUR/GBP, GBP/JPY, GBP/USD Advertisement British Pound Outlook: The British Pound is finishing one of the worst times of the year per seasonality studies, and given that context, the month of May has been quite good. GBP/JPY and GBP/USD rates are hovering below key resistance levels, while EUR/GBP rates may continue to drift higher. Recent changes in retail trader positioning suggest a mostly mixed bias for the British Pound. Ster...

Silver Price Forecast: Rising Towards Ascending Triangle Resistance - Levels for XAG/USD Advertisement Silver prices have slowly but surely rallying throughout May. Ongoing erosion in US real yields has increased precious metals’ appeal amid a weak US Dollar environment. Recent changes in sentimentsuggest that silver prices have a mixed bias in the near-term. Yields Down, Silver Up The inflation narrative is changing, but the changes may be good for precious metals. As gold prices have rallie...

The Mexican Peso’s favorable fundamental and technical considerations have faded in the near-term.

Gold Price Forecast: Bull Flag Breakout in Progress - Levels for XAU/USD Advertisement Gold Price Outlook: Gold prices have held above multi-month bull flag resistance, increasing confidence that a march back to all-time highs has begun. Weakness in US Treasury yields and the US Dollar (via the DXY Index) are helping give gold prices a fundamental boost on Monday. According to the IG Client Sentiment Index, gold prices have a mixed bias in the near-term. Holding onto Gains Gold prices have cont...

Weekly Technical Euro Forecast: Upside Potential Persists Advertisement Technical Forecast for the Euro: Neutral The Euro appears to be consolidating after recent upside moves; there is plenty of room in futures positioning for speculators to drive prices higher. Net-long Euro positioning is back to its highest level since the last week of March. Euro Rates Week in Review The Euro has a mostly positive turn through the middle of May, even if the headline stats don’t appear so. Even though fou...

Gold Price Forecast: Breakout Above Multi-Month Resistance - Levels for XAU/USD Advertisement Gold Price Outlook: Gold prices have moved beyond multi-month bull flag resistance, suggesting that a march back to all-time highs has begun. However, with soft ag and industrial metal commodities pulling back and the US Dollar catching a bid post-FOMC minutes, the ‘runaway inflation’ narrative may be tempered, capping near-term price gains by gold prices. According to the IG Client Sentiment Index...

It’s not a seasonally friendly time of the year for the British Pound, a potential headwind among otherwise bullish technical considerations.

Gold Price Forecast: Progressing Towards Multi-Month Resistance - Levels for XAU/USD Advertisement Gold Price Outlook: Despite inflation fears rearing their head with rippling effects across global financial markets, gold prices have enjoyed a strong run since early-April, and have weathered ‘the storm’ around US inflation data this week. Seasonality, May has been one of the worst, if not the worst, months of the year for gold prices, which may prove to be a headwind in an environment that ...

British Pound Forecast: GBP/AUD, GBP/CAD, GBP/NZD Rates Advertisement British Pound Outlook: The British Pound’s performance against the commodity currencies has been middling. While GBP/JPY is up by over +8% year-to-date, GBP/AUD is up by just over +1.7%, GBP/NZD is up less than +0.2%, and GBP/CAD has dropped by over -1.75%. GBP/AUD remains rangebound, while GBP/CAD and GBP/NZD continue to coil ever more into their triangular consolidations. According to the IG Client Sentiment Index, the Br...

The turn through the middle of the month hasn’t been kind to the Kiwi. But that’s not really a surprise?