US Dollar May Extend Losses as Gold Prices Surge With Stock Markets

The US Dollar may continue to decline versus gold and growth-linked assets in an environment of high risk tolerance and buoyancy in equity markets.
Source: News FX

GBP/USD Price Outlook: Pound Sterling Eyes BoE Update on Tap

The Pound-Dollar looks primed for currency volatility judging by implied GBP/USD price action headed into Thursday’s scheduled Bank of England (BoE) monetary policy update.
Source: News FX

Bank of England (BoE) Rate Decision Preview: So Far, So V

The BoE is not expected to make any major changes to the current monetary policy. But surprise negative rate talk is a risk.
Source: News FX

US Dollar Price Action: USD Bears are Back – EUR/USD, AUD/USD

USD bears didn't wait around for long: After a resistance test at a significant swing-low from 2018, sellers have returned with a vengeance.
Source: News FX

Global Risk Events for August – BoE, RBNZ, Fed Jackson Hole Symposium in Focus

Throughout August, key risk events will come in the form of the BoE, RBNZ rate decision. Alongside the Fed’s Jackson Hole Symposium.
Source: News FX

Gold Soars to a Fresh All-Time High, Silver at its Best Level in Seven-Years

Gold and silver continue to rally hard, fueled by persistent US dollar weakness, negative real yields and the haven-status of the precious metals space.
Source: News FX

USDCAD analysis for 05.08.2020

Trade Balance will be published in Canada and the US will release Trade Balance and Final Services PMI.
The pair is finding support at 1.32730 with resistance at 1.33580 which both lines are below the weekly pivot point at 1.34030. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Short positions are recommended towards 1.31950.

usdcad
Source: fxglory

British Pound (GBP) Latest: FTSE 100 Heading Higher, GBP/USD Flat

The FTSE 100 index of the major London-listed stocks is gaining some upward momentum and could rise further as traders shrug off concerns about the cost of pandemic relief programs.
Source: News FX

USDJPY analysis for 05.08.2020

Tertiary Industry Index and PMI Composite were released in Japan and the US will publish Trade Balance and ISM Non-Manf.
The support rests at 105.250 with resistance at 105.900 which the weekly pivot point at 105.410 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on level 50, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The support level breakthrough will confirm the correction pattern towards 61.8 level of Fibonacci at 105.050; otherwise USDJPY will be fluctuating within the support and resistance lines.

usdjpy
Source: fxglory

EURUSD analysis for 05.08.2020

Euro-zone’s producer price index grew more than expected and supported EUR. The US factory orders and final durable goods orders increased as well.
The support rests at 1.17930 with resistance at 1.18400 which both lines are above the weekly pivot point at 1.17740. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving above the level 50, the Stochastic is moving in high ranges and the MACD line is on the signal line in the neutral territory. The ADX is showing buy signal.
EURUSD is targeting the upper Bollinger band at 1.18800.

eurusd
Source: fxglory