{"id":120578,"date":"2025-09-22T11:56:06","date_gmt":"2025-09-22T08:56:06","guid":{"rendered":"https:\/\/ironfx-com.wp-dev.int.theitops.net\/?p=120578"},"modified":"2026-01-16T14:41:36","modified_gmt":"2026-01-16T12:41:36","slug":"easy-going-monday-with-a-twist","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/ar\/easy-going-monday-with-a-twist\/","title":{"rendered":"Easy-going Monday with a twist"},"content":{"rendered":"

In a rather easy-going Monday, the USD tended to remain relatively steady against its counterparts during the Asian session. As the calendar seems to be rather empty of US high-impact financial releases, we expect fundamentals to lead the market. Fed policymakers may be getting the lion\u2019s share of the attention and any signals intensifying the market\u2019s dovish expectations for the Fed\u2019s intentions could weigh on the USD and vice versa. We have to note, though, that despite the strengthening of the USD on Friday, Gold\u2019s price managed to continue to rise, nearing new record high levels. US stock markets seem to remain optimistic as they remain in the greens, but not crypto traders, which closed a substantial amount of Bullish positions.<\/p>\n\n\n\n

The USD index after bouncing on the 96.00 (S1) support line and three consecutive days being in the greens seems to be stabilizing somewhat. The RSI indicator has neared the reading of 50 implying a substantial easing of the bearish market sentiment of the market for the greenback. Yet the downward trendline guiding it since the 1st of August remains intact allowing us to maintain our bearish outlook. Should the bears be in charge, the USD index may break the 96.00 (S1) support line thus forming a new lower trough and start aiming for the 94.60 (S2) support level, which has not seen any price actio0n for roughly the past three years. Should the bulls take over we may see the index breaking the prementioned downward trendline in a first signal of an interruption of the downward movement continuing higher by breaking the 96.75 (R1) line with the next possible target for the bulls being set at the 100.10 (R2) resistance barrier.<\/p>\n\n\n\n

Gold\u2019s price is nearing the 3710 (R1) resistance line threatening to reach new record high levels. Gold\u2019s movement allowed us to shift the upward trendline guiding it to the right and as long as the upward trendline remains intact we intend to maintain our bullish outlook. The RSI indicator has bounced on the reading of 70, implying a strong bullish market sentiment for the precious metal, yet at the same time reminding traders that gold is at over bought levels and is ripe for a correction lower. Yet the distance between gold\u2019s price and the upper Bollinger band may imply that there is still room for the bulls to play. Should the bulls actually maintain control over the gold\u2019s price we may see it breaking the 3710 (R1) line and start aiming for the 3850 (R2) level. Should the bears take over, we may see gold\u2019s price breaking the prementioned upward trendline clearly and continuing lower to break the 3575 (S1) line and start aiming for the 3450 (S2) support level.<\/p>\n\n\n\n

Other highlights for the day:<\/strong><\/h2>\n\n\n\n

Today we note the release of Canada\u2019s PPI rates for August and Euro Zone\u2019s preliminary consumer confidence for September. On a monetary level, we note that BoE Chief Economist Pill, NY Fed President Williams, St. Louis Fed President Musalem, Richmond Fed President Barkin, Cleveland Fed President Hammack, BoC Senior Deputy Governor Rogers, BoE Governor Andrew Bailey and BoC Deputy Governor Kozicki are scheduled to speak. In tomorrow\u2019s Asian session, we get Australia\u2019s manufacturing PMI figure for September.<\/p>\n\n\n\n

As for the rest of the week:<\/strong><\/h2>\n\n\n\n

On Tuesday we get France\u2019s, Germany\u2019s, the Eurozone\u2019s, the UK and the US preliminary PMI figures for September as well as UK\u2019s CBI trends figures for the same month. On Wednesday, we get Japan\u2019s preliminary manufacturing PMI figure for September, Australia\u2019s CPI rate for August, and Germany\u2019s Ifo indicators for September. On Thursday, we get Japan\u2019s chain store sales rate for August, Germany\u2019s Ifo consumer sentiment for October, the UK\u2019s CBI distributive trades figure for September, the US durable goods rate for August, final GDP rate for Q2 and the weekly initial jobless claims figure. On Friday, we note Japan\u2019s Tokyo CPI rates for September, the US consumption rate and the US PCE rates both for August, Canada\u2019s final GDP rate for July and the US final UoM consumer sentiment figure for September. On a monetary level we would like to note the Riksbank\u2019s interest rate decision, the CNB\u2019s interest rate decision, the SNB\u2019s interest rate decision.<\/p>\n\n\n\n

USD Index Daily Chart<\/strong><\/h2>\n\n\n\n
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