In today’s TradeGATEHub Live Trading session, Coach Dale discusses the DXY as it tests a significant weekly support level at 100, highlighting the confluence of technical indicators at this crucial juncture. He anticipates a brief recovery in the dollar but ultimately expects the support level to give way. Additionally, Dale provides an update on his analysis of West Texas Intermediate (WTI) crude oil, offering insights into its current trajectory and implications for traders. This session is vital for those looking to understand and respond to pivotal movements in the forex and commodities markets.
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EUR/USD stays below 1.1200 after upbeat US data
EUR/USD stays below 1.1200 in the American session on Monday. The data from the US showed that Durable Goods orders rose at a much stronger pace than expected in July, supporting the USD and not allowing the pair to stage a decisive rebound.
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GBP/USD fluctuates near 1.3200 amid cautious market mood
GBP/USD is off multi-month highs, consolidating gains near 1.3200 on Monday. Better-than-forecast Durable Goods Orders data from the US and the cautious market stance helps the US Dollar hold its ground and limits the pair's upside.
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Gold retains gains above $2,500, higher highs at sight
Gold retreats from the daily high it set above $2,520 but manages to stay afloat above $2,500 on Monday. The 10-year US yield stabilizes near 3.8% and the US Dollar benefits from the negative shift seen in risk sentiment, making it hard for XAU/USD to stretch higher.
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