Australian Dollar May Rise on RBA, Economic Outlook, Strong Risk Appetite

The Australian Dollar may rise following the RBA rate decision amid signs of economic stabilization and resilient risk appetite despite still-precarious fundamentals.
Source: News FX

Gold Price Forecast: Precious Metals Primed for Next Breakout?

Gold price action has pulled back over 5% from its all-time high recorded earlier this month, but precious metals could be geared up for another advance following a healthy consolidation lower.
Source: News FX

Japanese Yen Price Forecast: JPY Jumps as Abe Resigns – USDJPY

While it may not have come as a surprise, Japanese PM Shinzo Abe stepping down is a really big deal, and that's been reflected in the Yen overnight.
Source: News FX

Canadian Dollar Forecast: USD/CAD Path of Least Resistance is Lower

USD/CAD eyes 1.3000 as dollar selling gathers pace, raising the risks for CAD shorts.
Source: News FX

EUR/USD Presses Higher, Eyes New 27-Month High as Euro Area Confidence Continues to Pick-Up

EUR/USD continues to climb higher, despite a surge of new COVID-19 cases in parts of Europe, and may look to print a new 27-month high.
Source: News FX

Japanese PM Abe Resigns – JPY and Nikkei 225 Rattled

Prime Minister Abe’s resignation has unsettled the Japanese Yen and Nikkei 225. Will this short-term change in momentum persist?
Source: News FX

British Pound (GBP) Latest: GBP/USD Touches a Fresh 8-Month High as the Dollar Sell-Off Resumes

Sterling remains slightly better bid across a range of currencies with the most notable move against a weak US dollar.
Source: News FX

USDCHF analysis for 28.08.2020

Switzerland released KOF Economic Barometer and the US will publish Goods Trade Balance and PCE Core.
The support rests at 0.90440 with resistance at 0.91080 which the weekly pivot point at 0.90960 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving below level 50, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. 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 horizontal trend.
Short positions are recommended towards 0.90000 but bulls will return to the market afterwards.

Source: fxglory

EU Stoxx 50, DAX 30 Index Staggering at Resistance as Coronavirus Cases Rise

EU Stoxx 50, DAX 30 index staggering at chart resistance as the number of European Covid-19 cases continues to rise.
Source: News FX

USDJPY analysis for 28.08.2020

National CPI, National CPI ex Fresh Food and Tokyo CPI ex Fresh Food & Energy were released in Japan and the US will publish PCE Core, Personal Spending and Goods Trade Balance.
The support rests at 106.020 with resistance at 106.620 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 above the EMA of 200 and 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.
Considering the correction pattern, sellers can target level 61.8 of Fibonacci at 105.800.

Source: fxglory