Page 57 - Christopher Vecchio News Today

Gold Price Forecast: Downtrend Remains, but Looks like a Bull Flag - Levels for XAU/USD Advertisement Gold prices remain in their multi-month downtrend, but budding bullish momentum on the daily timeframe necessitates other considerations, like a breakout to all-time highs in 2021. Gold prices are trading between the 23.6% and 38.2% Fibonacci retracements of the 2020 low/high range at between 1836.97 and 1928.05. According to theIG Client Sentiment Index, gold prices have a ...

Canadian Dollar Forecast: Reversals Cause for Concern in CAD/JPY, USD/CAD Rates? Advertisement The Canadian Dollar has been a top performing major currency since the end of March. Do recent losses mean the bull run is over? Probably not. USD/CAD rates have sustained significant technical damage this year, while CAD/JPY rates remain on the precipice of a bullish breakout. Canadian Dollar Rally Pauses, But Data Improves The Canadian Dollar, one of the best performing major cur...

Silver Price Forecast: Bulls in Control, Even amid a Pullback - Levels for XAG/USD Advertisement Silver Price Forecast Overview: But long-term technical studies still suggest that a bottoming process has commenced, suggesting that year-end profit taking won’t disrupt the overarching bullish narrative for silver prices. Recent changes in sentimentsuggest that silver prices have a bearish outlook in the short-term. Silver Prices Dim as Christmas Star Shines Silver prices are...

Euro Forecast: Breakouts Constrained, Further Gains May Have to Wait for EUR/JPY, EUR/USD Rates Advertisement EUR/USD has fallen back into its bull flag, while EUR/JPY never left its flag in the first place. Emerging strength in the DXY Index may prove to be another headwind for EUR/USD, which itself is 57.6% of the DXY Index. Per the IG Client Sentiment Index, the Euro has a bearish bias in the short-term. Euro Plagued by Brexit, Year-End Profit Taking The Euro has been amo...

Crude Oil Price Forecast: Drops from Resistance to Trend Support - Levels for Crude Futures Advertisement Crude Oil Price Forecast Overview: After a strong run through the first three weeks of the month, crude oil prices have pulled back sharply ahead of the holidays. Concerns that the new strain of coronavirus emerging from the UK has introduced a new bout of uncertainty into markets, boosting volatility and sinking crude oil prices. Recent changes in retail trader position...

Brexit Latest: UK Deal Concession Sparks Rally in GBP/JPY, GBP/USD Rates Advertisement Brexit Deal Overview: UK Prime Minister Boris Johnson is said to have conceded demands on fisheries in order to help get a Brexit deal across the finish line. GBP/JPY and GBP/USD have reversed their daily losses – which exceeded -1% at times – and are now positive on the day. Avoiding a ‘No Deal, Hard Brexit’ The British Pound is rallying as UK Prime Minister Boris Johnson is said ...

Gold 1Q 2021 Forecast: Gold Outlook Bullish Headed into First Quarter, with Caveats Advertisement Gold Price 1Q’20 Forecast Overview: While the 1Q’21 gold price outlook is bullish, there are some caveats – mainly, that gold may not be the best performing metal, precious or otherwise. Silver prices have a recent historical precedent to suggest that they are likely to lead gold prices for the foreseeable future. Technical outlook is bullish as well. Coming Soon! Downlo...

Silver Prices Break Key Downtrend - Bullish Breakout Confirmed for XAG/USD? Advertisement US Dollar weakness against the backdrop of heightened US fiscal stimulus expectations has reinvigorated the bullish fundamental backdrop for silver prices. A break of the downtrend from the August, September, and November swing highs suggests that the bull flag/triangle that formed in silver prices has yielded a bullish breakout. Recent changes in sentimentsuggest that silver prices hav...

SNB Warns of FX Intervention, EUR/CHF, GBP/CHF Rates Ward Off Breakdowns Advertisement Swiss Franc Forecast Overview: The US Treasury has added Switzerland to its list of currency manipulators. Will this prevent the Swiss National Bank from intervening? It doesn’t sound like it, as the SNB immediately responded by saying it was “willing to intervene more strongly in [the] FX market.” After briefly dipping below trendline support dating back to the yearly low, GBP/CHF r...

Euro Forecast: Bull Flags Take Shape in EUR/JPY, EUR/USD Rates Advertisement Euro Forecast Overview: The Euro has lagged some of its major peers as global risk appetite improves around Brexit and US fiscal stimulus headlines. Both EUR/JPY and EUR/USD rates have retained their bullish posture, however, and bull flags that have been carved out thus far through December suggest more gains may be around the corner. Per the IG Client Sentiment Index, the Euro has a bullish bias i...