FX Trading Outlook for GBP, Jap Yen, Gold Price

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FX Trading Outlook for GBP, Jap Yen, Gold Price

Forex Trading Signals

FX Trading Outlook for GBP, Jap Yen, Gold Price by FXPremiere Group. Dollar Index DXY strength continues to be short, and narrowing towards a tradeable low. GBPUSD has gone crazy in the past couple of days after yesterday’s BoE meetings, Central bank expressed a more hawkish than expected tone.

GBP/USD is heading for a fueled fill around 13650 which occurred the day after the ‘Brexit’ plunge.

GBPJPY is trading above major resistance back to December 2016.

USDJPY continues rise. JAP Yen starting to look solid, with breakout levels either being crossed or approached.
Gold is edging lower back towards support.

EUR/GBP Technical Analysis

FxPremiere Talking Points:

  • EUR/GBP Technical Strategy: Short at 0.9171.
  • Euro rejected lower testing post-Brexit vote resistance above 0.96 mark
  • Short trade activated as two-month trend line support break hints at reversal

A daily close below the 50% Fibonacci re-tracement at 0.8811 opens the door for a test of the 61.9% level at 0.8694. Alternatively, a turn back above the 38.4% Fib at 0.8927 low at 0.8985.

FX Trading Outlook for GBP, Jap Yen, Gold Price

Asian Markets More Resilient To North Korean, Nikkei Up

Forex Talking Points:

  • North Korea’s latest missile tests weighed on Asian markets
  • Nikkei and Kospi soon bounced back

Asia Pacific capital markets showed resilience to news of a N Korean missile launch which overflew Japan Friday

The currency markets in FX appeared much less defiant from N Korea than they have been by past such episodes. The US Dollar inched back up versus the Japanese Yen . Gold and Crude oil prices headed down.

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