GBPUSD Daily Analysis – September 9, 2014
GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6091.
GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6091.
AUDUSD has been trading inside a rising channel on its 1-hour forex time frame for the past month, but it looks like a breakdown is happening.
Whilst it’s been a torrid time for gold bugs, investors in silver have fared little better, with the metal falling from the dizzy heights of $50 per ounce, to currently trade at $19 per ounce.
Brent crude oil (BNO, quote) dipped below $101 on Monday morning after last week’s jobs data disappointed. The commodity traded at $100.81 at 4:50 GMT as investors worried about demand in an oversupplied market.
GBPUSD’s downward movement from 1.6643 extended to as low as 1.6168.
AUDUSD upward movement from 0.9237 extended to as high as 0.9401.
For gold bugs, yesterday’s gold trading session was another of those which promised much but delivered little, as the precious metal attempted to rally early in the session, before the weight of selling pressure overwhelmed the beleaguered bulls once more. The pattern for gold is now becoming remorseless and repetitive, with bearish sentiment now dominating, and as each rally comes and goes, the metal moves ever lower on the longer
GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6286.
The EURUSD pair fell hard during the session on Thursday as the European Central Bank surprised that the markets with a slight rate cut.
The AUDUSD pair tried to rally significantly during the session on Thursday but failed.