S&P 500 at Risk Before Jackson Hole As Trump-Biden Poll Spread Narrows?

The S&P 500 has recorded another new high, but is there a risk of a reversal ahead of the Jackson Hole symposium and political volatility from a narrowing Trump-Biden poll spread?
Source: News FX

USD Price Outlook: US Dollar Awaits Powell Speech at Jackson Hole

US Dollar bulls have struggled to sustain a bid over the last two trading sessions as USD price action searches for direction while traders await Fed Chair Powell at the Jackson Hole Symposium.
Source: News FX

Silver Forecast: XAG Stages Breakout, but Can Bulls Drive the Trend?

It had been a big summer for precious metals – until August rolled around. But as the month nears end, Silver bulls are showing a stronger hand.
Source: News FX

DAX 30 Price Outlook: German Index Ponders Technical Break Out

The DAX 30 is testing the limits of its current technical pattern but summer conditions may make it hard for the German equity index to post a move with significant follow-through.
Source: News FX

USD/CAD Update: Loonie Consolidation Ahead of BoC Wilkins Speech

The Canadian Loonie has consolidated over the short term. Is this reflective of the early stages of a trend reversal or a simple pause before trend continuation?
Source: News FX

NZDUSD analysis for 26.08.2020

Trade Balance data was released in New Zealand and the US will publish Durable Goods Orders and Crude Oil Inventories.
The support rests at 0.65310 with resistance at 0.65730 which the weekly pivot point at 0.65610 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is falling towards level 50, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
The price may fall towards the support line but it is not going to break it. NZDUSD will be fluctuating within the support and resistance lines.

nzdusd
Source: fxglory

Japanese Yen Volatility Rises on Jackson Hole and Abe Speculation

The main focus is on tomorrow’s Jackson Hole summit, however, JPY markets have been eying Abe exit speculation.
Source: News FX

USDJPY analysis for 26.08.2020

Japan published Corporate Service Price Index and Leading Indicators.
The support rests at 105.990 with resistance at 106.790 which both lines are above the weekly pivot point at 105.860. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is falling towards level 50, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
While considering pullbacks, USDJPY will continue its bullish trend towards 106.850.

usdjpy
Source: fxglory

EURUSD analysis for 26.08.2020

There are no major economic reports in Eurozone today, the US will release Durable Goods Orders data.
The support rests at 1.17980 with resistance at 1.18570 which the weekly pivot point at 1.18390 is located in between the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving on level 50, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
EURUSD is trying to consolidate within the Bollinger bands however the bullish pressure may push the price up towards 1.19000.

eurusd
Source: fxglory

British Pound (GBP) Latest: Sterling Retains a Bid as Jackson Hole Symposium Comes Into View

Sterling is stuck in a holding pattern and with little data of note today Fed chair Jerome Powell’s speech at the Jackson Hole Symposium tomorrow is the next potential trigger point.
Source: News FX