David Song
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Canadian Dollar Forecast: USD/CAD Defends Weekly Low Ahead of Canada CPI
USD/CAD seems to be defending the advance from the weekly low (1.3900) as it continues to coil within a narrow range.
Gold Price Struggles to Close Below 50-Day SMA
The price of gold may continue to track the positive slope in the 50-Day SMA ($3162) as it struggles to close above the moving average.
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GBP/USD Defends Rebound from Weekly Low to Hold Above 50-Day SMA
GBP/USD holds above the 50-Day SMA (1.3109) as it appears to be defending the advance from the weekly low (1.3140).
Canadian Dollar Forecast: USD/CAD Coils Above of Weekly Low
USD/CAD seems to be coiling within a narrow range as it holds above the weekly low (1.3900).
US Dollar Forecast: USD/JPY Reverses Ahead of April High
USD/JPY seems to be reversing ahead of the April high (150.49) as it gives back the advance from the start of the week.
Australian Dollar Forecast: AUD/USD Defends V-Shape Recovery
AUD/USD seems to be defending the V-shape recovery from April as it attempts to retrace the decline from the monthly high (0.6515).
EUR/USD Rebounds Following Failed Attempt to Close Below 50-Day SMA
EUR/USD may continue to track the positive slope in the 50-Day SMA (1.1085) following the failed attempt to close below the moving average.
USD/CHF Rallies as US & China Pause Reciprocal Tariffs
USD/CHF trades back above the former support zone around the 2023 low (0.8333) as it rallies to a fresh monthly high (0.8476).
GBP/USD on Track to Test Positive Slope in 50-Day SMA
GBP/USD may struggle to retain the advance from the April low (1.2709) should it no longer respond to the positive slope in the 50-Day SMA (1.3084).
Canadian Dollar Forecast: USD/CAD Breaks Out of Descending Channel
USD/CAD may further retrace the decline from the April high (1.4415) as it breaks out of the descending channel carried over from last month.
USD/JPY Falls from Fresh Monthly High to Hold Below 50-Day SMA
USD/JPY appears to be pulling back ahead of the 50-Day SMA (146.34) as it falls from a fresh monthly high (146.19).
Gold Price Weakness Keeps RSI Out of Overbought Territory
The price of gold pulls back ahead of the record high ($3500) to keep the Relative Strength Index (RSI) out of overbought territory.
GBP/USD Post-BoE Rebound Unravels amid US-UK Trade Deal
GBP/USD gives back the advance following the Bank of England (BoE) rate decision as US President Donald Trump announces that 'we have reached the first, historic trade deal since Liberation Day.’
US Dollar Forecast: USD/CHF Rebounds on Wait-and-See Fed
USD/CHF bounces back from a fresh monthly low (0.8186) as the Federal Reserve insists that ‘we are well positioned to wait for greater clarity before considering any adjustments to our policy stance.’