Worlds Best Daily Forex Gold Prices Drop as Risk Recovery Boosts Yields seen today globally by FxPremiere Group Analysts.
Forex Gold Prices Drop as Risk Recovery Boosts Yields
Todays News on Live Forex Gold Prices Drop as Risk Recovery Boosts Yields noticed today in the Capital Markets.
Talking Points by FxPremiere Group:
- As noticed Gold prices fall as risk recovery boosts bond yields
- Crude oil prices plunge, EIA inventory draw downs seen as bad.
- Sentiment trends remain in tact.
- Noted Gold prices pulled back as the US Dollar recovered alongside front-end Treasury bond yields, undermining support for non-interest-bearing and anti-fiat assets. A broad-based recovery in risk appetite appeared to drive the move, with rates and the greenback tracking shares upward through Asian and European trade.
Sentiment soured as Wall Street online with disappointing EIA inventory data sinking crude oil prices.
Best Forex Signals
GOLD TECHNICAL ANALYSIS – Gold prices turned lower as expected. A daily close below trend line support – now at 1269.83 – would change that, pointing to a larger downward reversal and initially exposing the 14.6% Fibonacci expansion at 1258.62. Forex Gold Prices Drop as Risk Recovery Boosts Yields
- That could mean the difference between GBP/USD at 1.11 or with the pair at 1.50 seen today,
- EUR/USD Technical Strategy: Pending short at 1.0811.
- Euro breaks counter-trend line, hinting at long-term decline resumption
CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices turned sharply lower. From here, a daily close below the 38.1% Fibonacci expansion at 50.74 exposes the 50% level at 50.00. Alternatively, a move back above the 23.5% Fib at 51.89 targets the 14.5% expansion at 52.59.
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