The rally on Gold has, at least, paused and the metal pulled back to the key $1,900 level that has been our focus and this was despite the US$ remaining range-bound. This trend line breakout came with a great short term trade signal as well.
The US$ remains range-bound and this has kept many FX pairs similarly affected. US stocks edged a bit higher but on low momentum.
There has been little change ahead of today’s NFP announcement. I had suspected the US$ might chop sideways in the lead up to the July jobs report and that is what this week has pretty much delivered. Keep an eye on the DXY for any new breakout: up or down!
US$ weakness has continued and so has stock strength so much so that the S&P500 is closing in on its all time higher, circa 3,400, that was set back in February this year. USD-based FX pairs have been buoyed on this US$ weakness and the Cable remains near the weekly 200 EMA ahead of today’s […]
Gold was the main groover last session with a great trend line and range breakout move. The US$ is a bit lower again but caution is needed here as momentum continues to decline ahead of Friday’s NFP.