Understanding Today's News

Market Analysis

GOLD

Our reading on Gold remains unchanged as the price continues to consolidate. We will wait to see how the market reacts to the Producer Price Index (PPI) report before adjusting our view.

SILVER

Silver prices continue to move bullishly as we previously expected, but the price is still testing a higher boundary. While the upper boundary has shown some resistance, we anticipate increased buying pressure in the coming days.

DXY

The Dollar is showing an increased bearish continuation after breaking below the 97.912 support level. We now expect further selling, as both the MACD and RSI indicate growing bearish momentum and volume. We will continue to look for more selling opportunities in the coming days.

GBPUSD

The Pound is showing signs of more buying ahead. While the MACD has pulled back slightly in a retracement, the RSI indicates strong bullish momentum. We expect further buying in the coming days but will monitor the market's reaction to U.S. data.

AUDUSD

The Aussie dollar is currently trading at 0.65618, and we expect to see further buying. A brief pullback to test the EMA200 is possible before a bullish continuation. However, we will wait for a clear break of structure before making a definitive directional call. For now, our bias remains bullish.

NZDUSD

The Kiwi is currently testing the significant resistance barrier at 0.59796. While there is some short-term upward pressure, the overall trend remains bearish. Until a clear and sustained break above this structure occurs, we will maintain our bearish bias.

EURUSD

The Euro is finding increased buying opportunities as it breaks above a key price boundary. Both the MACD and RSI are reflecting the growth in bullish momentum and volume. We expect to see more buying in the coming days.

USDJPY

The Yen is strengthening, causing the USD/JPY pair to fall further. This selling pressure is confirmed by the MACD and RSI. The decline accelerated after the market priced in a higher probability of a September rate cut by the Fed, as reported by the FedWatch Tool. As this move was within our expectations, we continue to call for a continuation lower.

USDCHF

The pair is still seeing increased bearish momentum and volume, confirmed by both the MACD and the RSI. The price is currently testing the EMA200 as support. We expect more selling to come but will remain careful until we see a clear break of this structure to confirm a complete bearish shift.

USDCAD

The Canadian Dollar is finding more strength due to the U.S. Dollar's weakness, putting downward pressure on the USD/CAD pair. The market is currently in a consolidation phase following the recent drop. We are expecting a bearish continuation and will wait for a clear break of this consolidation to find selling opportunities.