Although a fortnight old rising channel portrays the bull’s command over Brent oil, backed by the fears of a supply crunch, the commodity prices have failed to portray a notable run-up.
Despite reversing the post-Fed rally, gold prices remain beyond a three-day-old ascending support line, around $1,870 by the press time, ahead of the US Nonfarm Payrolls (NFP) release on Friday.
GBPUSD stays near the two-year low, despite the post-Fed rebound, as cable traders brace for the Bank of England’s (BOE) 0.25% rate hike.
EURUSD holds onto the one-week-old sideways grind ahead of the key Federal Open Market Committee (FOMC).
On Friday, silver prices closed at the lowest levels last seen during early February while portraying a seven-day downtrend.
USDCAD refreshed a seven-year high on Thursday before reversing from a downward sloping trend line from December 2021.
Gold sellers cheer firmer US dollar and a sustained break of the three-month-old ascending trend line at the lowest levels in nine weeks ahead of the key US Q1 2022 GDP data.
AUDUSD rebounds from a two-month low, also snapping a four-day downtrend, by cheering a strong quarterly inflation data at home.
EURUSD prices remain above a five-month-old downward sloping support line.
GBPUSD extends pullback from 1.3090 ahead of the key UK data, as well as a speech from the BOE Governor Andrew Bailey, during early Friday.
Gold prices fail to reject the rising wedge bearish chart pattern confirmation portrayed on Tuesday.
EURUSD licks its wounds around a two-year low during a cautiously optimistic Asian session on Wednesday.
