US Dollar Rebound May Extend into Day 2 of RNC. Pompeo to Speak

The US Dollar may continue to rise heading into the second day of the Republican National Convention where Secretary of State Mike Pompeo is scheduled to speak.
Source: News FX

S&P 500 Price Outlook: Apple Leads Index to New Highs With Confidence

The S&P 500 surged to fresh record levels Monday, extending beyond pre-covid levels. While recent price action has been rather timid, Apple remains an outlier.
Source: News FX

USD Price Outlook: Dollar Pivots Higher Ahead of Fed Symposium

USD price action has gained about 1.25% since the US Dollar Index hit two-year lows earlier this month. Can the Greenback keep gaining ground or will Jackson Hole reignite Dollar selling pressure?
Source: News FX

Gold Price Forecast: XAU Sinks to Support, Will Gold Bulls React?

Gold prices shed 10% when pulling back earlier this month, but with Jackson Hole on the radar, will bulls remain quiet for long?
Source: News FX

FTSE 100 & CAC 40 Forecast: Stocks Surge to Start the Week, Resistance Eyed

Stocks jumped higher to start the week but remain locked within their broader technical patterns. Nevertheless, the FTSE 100 and CAC 40 have taken aim at resistance.
Source: News FX

Crude Oil Price Bulls Eye Resistance as VIX ‘Fear-Gauge’ Falls

Crude oil price action has edged steadily higher over the last three consecutive weeks. The commodity remains buoyed by upbeat trader sentiment amid the absence of volatility, but will it last?
Source: News FX

XAG/USD Forecast: Dollar Strength Brings Silver to its Knees

Silver slides into key area of support as USD strengthens
Source: News FX

Gold analysis for 24.08.2020

Gold is under pressure against USD.
The support rests at 1933.93 with resistance at 1968.27 which the weekly pivot point at 1962.73 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is rising towards 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 not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positons are recommended towards 1915.

gold
Source: fxglory

USDJPY analysis for 24.08.2020

Today there are no major economic reports in Japan and the US.
The support rests at 105.530 with resistance at 106.070 which the weekly pivot point at 105.860 is located in between the lines. The EMA of 10 is moving horizontally in the horizontal 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 middle ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
It seems that USDJPY is finding some consolidation within the yellow area. The price will be fluctuating within the support and resistance lines.

usdjpy
Source: fxglory

British Pound (GBP) Latest: A Subdued Start to the Week, US Dollar Drivers will Steer GBP/USD

Sterling opens the week around 1.3100 against the US dollar and may find further upside a struggle with little UK economic data this week to drive GBP-pairs.
Source: News FX