Crude Oil to Rise? Biden-Trump Spread Widens, WTO Issues US Tariff Ruling

Crude oil prices rose despite a key ruling by the WTO that may complicate future US-China trade relations under another four years of President DonaldTrump.
Source: News FX

Dow Jones Forecast: Upbeat FOMC Projections Might Broaden Stock Rally

Raised economic projections from the Federal Open Market Committee may allow the US stock market rally to extend into other areas outside of technology. As a result, the Dow Jones might benefit.
Source: News FX

USD Price Outlook: US Dollar & VIX Advance Following the Fed

US Dollar aims higher with the VIX ‘fear-gauge’ in the wake of Fed Chair Powell and FOMC officials staying sidelined on monetary policy decisions as the central bank monitors a fragile economic bac…
Source: News FX

Gold, Dollar & Nasdaq React to FOMC Decision, Fresh Projections

The September 2020 FOMC press statement just crossed the wires and shows that the Fed decided to leave rates on hold as expected, but updated economic projections are weighing on markets.
Source: News FX

US Dollar Price Forecast: USD Descending Triangle for FOMC

The US Dollar has built into a descending triangle ahead of today's FOMC rate decision – will USD bears get another run at the lows?
Source: News FX

South African Rand Forecast: USD/ZAR, GBP/ZAR, EUR/ZAR Setups

South African Rand strengthens testing key Fibonacci levels
Source: News FX

Gold Price Latest – Clinging on toTrend Support as FOMC Looms Into View

The price of gold continues to nudge higher and holds onto a strong multi-month trend support line. Fed chair Jerome Powell’s commentary, post-FOMC decision, will guide the next move in the preciou…
Source: News FX

USDCAD analysis for 16.09.2020

Consumer Price Index and Core CPI data will be released in Canada and the US will publish Retail Sales, FOMC Statement and Crude Oil Inventories.
The pair is finding support at 1.31320 with resistance at 1.32220 which the weekly pivot point at 1.31640 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is located below the EMA of 200 and above the EMA of 100. The RSI is moving on 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 in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1.31290.

Source: fxglory

GBPUSD analysis for 16.09.2020

GBP went under pressure due to the high unemployment data.
The support rests at 1.28580 with resistance at 1.29090 which both lines are below weekly pivot point at 1.29430. The EMA of 10 is moving with bullish bias in the ascendant 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 high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
Considering the correction pattern, GBPUSD may break the resistance line and target level 38.2 of Fibonacci at 1.30400.

Source: fxglory

US Dollar Drifting Lower, What to Watch Out for the FOMC Meeting

Market participants appear to be gearing for a dovish FOMC as the US Dollar is pushed lower.
Source: News FX