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USD Slides as Moody’s Downgrade Adds to Pressure: EUR, JPY and Gold Test Key Levels
The timing of Moody’s U.S. downgrade couldn’t be worse for a dollar already looking shaky. With EUR/USD and USD/JPY testing key levels and gold extending its bounce, traders will be watching trade and tax headlines closely to kick off the new week.
Gold Short-term Outlook: XAU/USD Bulls Defend Make-or-Break Support
Gold prices rebounded off key support at the 2025 uptrend and the battle lines are drawn for the bulls. Levels that matter on the XAU/USD short-term technical charts.
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USD/JPY Forecast: Dollar faces trust test as Moody’s downgrade compounds haven doubt
Traders searching for clues in Moody’s downgrade may find little from past episodes. But in a market questioning U.S. credibility, USD/JPY could start to reflect that doubt.
Dow Jones forecast: Despite falling confidence stocks could hold up
Without a new bearish catalyst, ongoing trade optimism may keep the stock markets supported for a while yet. Our Dow Jones forecast remains mildly positive for now.
Canadian Dollar Short-term Outlook: USD/CAD Breakout Looms
USD/CAD surged nearly 2% off the yearly low with the weekly range coiled just below resistance. Battlelines drawn on the Canadian Dollar short-term technical charts.
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.
EUR/USD Forecast: Forex Friday – May 16, 2025
This US-China trade truce has only had a limited influence on the dollar, with the greenback held back by soft data. Against this backdrop, the EUR/USD forecast remains modestly positive in the near-term outlook.
USD/CHF: Rally loses steam with trendline test looming
After stalling below a key Fib retracement, USD/CHF has slipped back to familiar ground. With no clear momentum signal and limited data ahead, traders may need to watch support levels closely for clues on the next swing.
Crude Cracks, Gold Glitters, USD/JPY Drifts as Soft US Data Hammers Yields
Big downside surprises in US producer prices, retail sales, and factory output fuelled hopes the Fed could cut sooner, knocking yields and lifting equities. Gold loved it, crude didn’t—but FX markets stayed aloof, clinging to the charts over fundamentals.
Euro Short-term Outlook: EUR/USD Recovery Stalls at Trend Resistance
A V-shaped Euro recovery failed at trend resistance and shifts the focus to a breakout of the weekly range. Battlelines drawn on the EUR/USD short-term technical charts.
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).
Swiss Franc Short-term Outlook: USD/CHF Bulls Tested at Resistance
US Dollar surged more than 5.4% off the yearly low, with USD/CHF coiled just below resistance. Bulls on notice. Battle lines drawn on the short-term technical charts.
Gold forecast: XAU/USD takes technical bounce but more pain likely near-term
With the recent improvement in risk appetite causing stocks to surge higher, haven demand for gold is not the same as before. The gold forecast is thus not as strong, and we may see a dip to around $3K before dip-buyers step back in.