EUR/GBP Price Forecast: Breakdown from channel could follow-through lower
Source Fxstreet
- AUD/USD has broken above a trendline and established a new short-term uptrend.
- It will probably extend to the August highs.
AUD/USD has begun a new leg higher after bottoming out on September 11. This new leg has broken above a key trendline for the correction of the August rally – a bullish sign – which, amongst other things, suggests it is now in a short-term uptrend.
AUD/USD Daily Chart
It is a principle of technical analysis that “the trend is your friend” which suggests the Aussie is likely to continue higher. It will probably match or almost match the 0.6824 August 29 high. The resistance level at 0.6799 ( July high) might, however, slow it down along the way.
Momentum, as measured by the Relative Strength Index (RSI) is mirroring price, a fact that is supportive of the current mini-rally.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
TradingKey Daily Market Brief: Nasdaq Falls Over 5%, AI Stocks Plunge as Nvidia Drops Over 9%, Micron Falls Over 17%, SanDisk Drops Over 22% During the Asian trading session on November 6, the three major U.S. stock indices tumbled across the board overnight as the sell-off across the AI data center suppl
During the Asian trading session on November 6, the three major U.S. stock indices tumbled across the board overnight as the sell-off across the AI data center suppl
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 6, 2026. Read on for the details.
Gold's $250 week runs into the last payrolls before DecemberSpot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
Spot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
Micron's $4.5 billion Taiwan fab won't make a chip until 2028 — the market sold it as a 2026 problemMicron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.
Micron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.
Related Instrument
