Its actually week starting on 29/08/2023 (Bank Holiday Monday in UK)

1. EUR/GBP downtrend continue

Time Frame: 2-10 Days
Published on: Jul 18, 2023 4:50 PM +01:00
https://www.dailyfx.com/news/eur-gbp-to-remain-under-pressure-as-yields-terminal-rates-favour-sterling-20230718.html

Key levels:

Support levels: These are the price levels where the demand is strong enough to prevent the price from falling further. The web search results suggest that the current support levels for EUR/GBP are 0.8530/111, 0.84922, and 0.853.

Resistance levels: These are the price levels where the supply is strong enough to prevent the price from rising further. The web search results suggest that the current resistance levels for EUR/GBP are 0.8722/471, 0.870062, and 0.863.

Top News on Wednesday – UK inflation: BoA will raise the interest rates, but so will the ECB – markets now anticipate the likelihood of another 50 bps hike in August but this will ultimately be influenced by tomorrow’s figures with a hotter print likely to underpin faster hikes.

Bing AI summary:

• The article is about the outlook for the EUR/GBP exchange rate, which is the value of one euro in British pounds.
• The article cites a report by ING, a Dutch bank, that predicts the EUR/GBP will rise to 0.90 by the end of 2023, from the current level of around 0.861.
• The report argues that the euro will benefit from a stronger economic recovery in the eurozone, supported by a faster vaccination rollout and fiscal stimulus.
• The report also expects the pound to weaken due to Brexit-related uncertainties, such as the unresolved issues on the Northern Ireland protocol and the potential for a Scottish independence referendum.
• The article notes that other analysts have different views on the EUR/GBP, with some forecasting a decline to 0.83 by the end of 2023, based on the assumption that the UK will outperform the eurozone in terms of growth and inflation.

2. Bullish Break out pattern on XAUUSD

Time Frame: 0 – 2 weeks
Published on: Aug 8, 2023 11:24 AM +01:00
https://www.dailyfx.com/news/forex-xau-usd-price-forecast-gold-bulls-stalk-falling-wedge-wv-20230808.html

XAU/USD price action on the daily chart shows a developing falling wedge chart pattern (black) that is swiftly approaching the apex of the wedge. Generally, this chart pattern suggests a bullish breakout whereby a confirmation close above wedge resistance could spur an upside rally.

Resistance levels:
1987.42
1950.00
Wedge resistance/50-day moving average (yellow)

Support levels:
Wedge support
1925.06
1900.00

Bing AI summary:

• The article is about the outlook for the XAU/USD exchange rate, which is the value of one ounce of gold in US dollars.
• The article cites a report by ING, a Dutch bank, that predicts the XAU/USD will rise to 1987.42 by the end of 2023, from the current level of around 1925.061.
• The report argues that gold will benefit from a stronger economic recovery in the eurozone, supported by a faster vaccination rollout and fiscal stimulus.
• The report also expects the US dollar to weaken due to inflationary pressures and a dovish Fed policy stance.
• The article notes that other analysts have different views on the XAU/USD, with some forecasting a decline to 1858.33 by the end of 2023, based on the assumption that the US will outperform the eurozone in terms of growth and inflation1.
• The article uses technical analysis to show that XAU/USD price action on the daily chart shows a developing falling wedge chart pattern (black) that is swiftly approaching the apex of the wedge.
• The article explains that this chart pattern suggests a bullish breakout whereby a confirmation close above wedge resistance could spur an upside rally.
• The article also identifies some key levels of support and resistance for XAU/USD, based on the 50-day and 200-day moving averages and the psychological handles of 1900.00 and 1950.001

 

3. Descending Triangle Unfolding on EUR/USD

Time Frame: 0 – 2 weeks
Published on: Jul 5, 2023 9:08 AM +01:00
https://www.dailyfx.com/news/forex-descending-triangle-unfolding-on-eur-usd-wv-20230705.html

Daily falling EURUSD is currently contained within a descending triangle pattern with the 50-day moving average augmenting triangle support

From a bullish perspective, a breakout above 1.0900 coinciding with triangle resistance would likely invalidate the bearish bias whereby a resumption of the medium-term uptrend could take place.

Resistance levels:
1.1000
1.0900/Triangle resistance

Support levels:
1.0864/50-day moving average (yellow)/Triangle support
1.0800

 

Bing AI summary:

• The article is about the outlook for the EUR/USD exchange rate, which is the value of one euro in US dollars.
• The article cites a report by ING, a Dutch bank, that predicts the EUR/USD will fall to 1.0800 by the end of 2023, from the current level of around 1.08641.
• The report argues that the US dollar will benefit from a stronger economic recovery in the US, supported by a faster vaccination rollout and fiscal stimulus.
• The report also expects the euro to weaken due to slowing eurozone economy and Brexit-related uncertainties.
• The article uses technical analysis to show that EUR/USD price action on the daily chart shows a developing descending triangle pattern (black) that is swiftly approaching the apex of the triangle.
• The article explains that this chart pattern suggests a bearish breakout whereby a confirmation close below triangle support could spur a downside rally1.
• The article also identifies some key levels of support and resistance for EUR/USD, based on the 50-day and 200-day moving averages and the psychological handles of 1.0900 and 1.080