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Gold Weekly Forecast: XAU/USD bears await break below 100-day SMA at $1,796


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7/23/2021 8:02:37 PM GMT
Gold closed near the lower limit of the weekly channel.
Additional losses are likely if XAU/USD breaks below the 100-day SMA.
FOMC meeting and US Q2 GDP data highlight next week’s economic calendar.
Following a four-week winning streak, the XAU/USD pair struggled to make a decisive move in either direction and fluctuated between key technical levels. After rising above $1,820 on Tuesday, gold turned south in the second half of the week but managed to close the week a little above the key 100-day SMA, which is currently located at $1,796.
What happened last week
In the absence of high-tier macroeconomic data releases and fundamental developments, risk perception remained the primary market driver earlier in the week. The sharp decline witnessed in Wall Street’s main indexes on Monday and Tuesday allowed the greenback to find demand. However, gold also capitalized on risk-off flows, sugge ....

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USD/JPY Weekly Forecast: Fed decision, covid in the Olympics and yields to shake the pair


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USD/JPY Weekly Forecast: Fed decision, covid in the Olympics and yields to shake the pairANALYSIS
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7/23/2021 3:09:08 PM GMT
USD/JPY has been trading in tandem with US yields, falling as fear grips markets. 
The Fed decision, US GDP and the rapid spread of the Delta variant are all eyed. 
Late July s daily chart is painting a mixed picture. 
The FX Poll is pointing to short-term strength but falls below 110 afterward. 
A barometer of fear – USD/JPY has proved to gauge covid concerns, rising and falling with worries and US yields. Traders will eye Tokyo s covid-clouded Olympics, the Federal Reserve s decision, the first look at America s second-quarter growth – and the Delta variant as well.  ....

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