Airbnb (ABNB) saw a slight uptick in its latest intraday trading, even as the stock continues to face negative pressure while trading below its 50-day simple moving average. The medium-term downtrend remains dominant, with the price moving along a descending trendline. These recent gains appear to be an attempt to recover part of its previous losses, while the stock also works on easing its clear oversold conditions on the Relative Strength Indicators, especially as early positive signals begin to appear.
Therefore, we expect the stock to decline in the upcoming sessions, as long as it remains below $117.30, targeting the support level at $105.40.
The US dollar advanced against the yen amid continued volatility, with strong interest rate differentials supporting buyers.
Multiple support zones down to 153 yen highlight persistent dip-buying potential, while a breakout above 158 yen could open the path toward 160.
The US dollar rallied against the Japanese yen during the trading session on Monday as the market continues to see a lot of significant volatility. But that being said, the market is likely to continue to see a lot of choppy behavior. But I think even if we do fall from here, it’s likely that we continue to see a lot of buying opportunities all the way down to at least the 153 yen level.
Support Zones and Rate-Differential Dynamics
That being said, the market is likely to continue to see plenty of buyers willing to get involved due to the interest rate differential favoring the United States dollar, as the Bank of Japan simply cannot do anything whatsoever to tighten monetary policy in any significant manner.
If the market does fall from here, I think the 155 yen level is an area that you have to look for some type of bounce, followed by 154.50. And then the 153 yen level, which for me is the absolute floor, the 50-day EMA sits right around there as well. And I think you have a scenario where plenty of people are willing to sit on this trade and simply collect profit at the end of every day via swap. And then, of course, eventually the nominal gains.
If we can break above the 158 yen level, then it’s likely that the market will go to the 159 yen level, which is an area that’s been important. And then naturally we’ll be watching the 160 yen level after that. I have no interest in shorting this pair. And even if we did break down below the 153 yen level, then at that point in time, I’m probably going to check out the fundamental situation before I put any real money into this market.
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
The Euro continues to struggle with holding gains as repeated rallies fade and volatility persists.
Holiday-thinned trading and overhead resistance keep the bias pointed lower, with key levels suggesting further downside unless major shifts occur.
The Euro initially tried to rally during the trading session on Monday, but as we’ve seen multiple days in a row, the Euro just can’t seem to hang on to significant gains. And I do think that the US dollar is likely to continue to be a situation of fading the rally as we go forward.
Holiday Conditions
All things being equal, this is a market that I think we continue to see a lot of choppy and volatile moves in, but mainly on short-term charts. After all, this is a week that I think is going to be difficult for a lot of traders, as we have the Thanksgiving holiday in the United States on Thursday.
So that basically takes the Americans out of the equation for Thursday and Friday. So, unless we see some type of major shift, and let’s be honest, we could do due to headlines coming out of Ukraine or trade tensions or whatever. I think this is a market that you just continue to face short-term rallies, you collect your profits, and then rinse and repeat. The 50-day EMA above offers significant resistance near the 1.16 level. And of course, we have a downtrend line that’s just above there that could come into the picture to offer resistance as well.
I think at this point in time, we are likely to see a potential move down to the 1.14 level, which is a large round, psychologically significant figure in an area that has shown extreme demand previously. If we drop below there, then not only will the break of demand be bearish, but you would also see a breakdown below the 200-day EMA as very bearish also. I think at that point, the euro goes to the 1.11 level. It’s not until we break above the 1.17 level that I start to look in the other direction. So, I remain bearish at least for the time being.
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
The international crude benchmark, Brent, could dip to the $30s per barrel handle by 2027 as oversupply could overwhelm the market, according to a JP Morgan forecast posted by users on X.
Brent Crude prices have dropped by 14% year to date, and traded relatively stable at $62.59 per barrel early on Monday, as the oil market awaits news from the renewed negotiations on peace in Ukraine.
The U.S. and Ukraine held on Sunday in Geneva what the two sides described as “highly productive” talks and agreed to continue intensive work on a “refined” peace plan, which the U.S. first proposed last week.
Despite the fears of a glut, analysts and investment banks don’t see oil prices moving down to $40 or below, even as oil is set to decline in the near term with strong supply from OPEC+ and the non-OPEC producers in the Americas.
Peace in Ukraine could also weigh on energy prices as some sanctions and restrictions on Russia could be eased, analysts say.
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Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average $53 per barrel in 2026, according to Goldman Sachs.
The investment bank’s call for next year is that oil prices are on track for further declines and investors should short oil right now, Daan Struyven, co-head of global commodities research at Goldman Sachs, told CNBC last week.
The surplus next year will be 2 million bpd on average, Goldman reckons, but notes that 2026 will be the last year of the current big supply wave hitting the market.
The oil market is set to rebalance in 2027 as 2026 will see “the last big oil supply wave the market has to work through,” Goldman’s Struyven added.
The GBPJPY pair provided mixed trading yesterday, affected by the contradiction between the main indicators, which might cause activating the bearish corrective track, so the stability below 206.90 forms main factor to confirm the negative suggestion in the near-term trading, therefore, we will keep waiting for its activation with stochastic negativity, to begin targeting corrective stations that might begin at 203.75.
Note that the price attempt to rally above 206.00 may delay the corrective trading in the current period, paving the way for retesting the mentioned barrier before reaching the suggested corrective targets.
The expected trading range for today is between 203.75 and 206.00
Copper price began forming bullish waves yesterday, attempting to face the temporary negative pressure to reinforce the dominance of the main bullish scenario, to fluctuate near $5.0500 level now.
We expect to provide mixed trading, noting that the attempt to resume the bullish attack requires breaching the initial barrier near $5.2000, while the stability below it might force it to form corrective wave to reach towards the initial support at $4.7500.
The expected trading range for today is between $4.9500 and $5.2000
The GBPJPY pair provided mixed trading yesterday, affected by the contradiction between the main indicators, which might cause activating the bearish corrective track, so the stability below 206.90 forms main factor to confirm the negative suggestion in the near-term trading, therefore, we will keep waiting for its activation with stochastic negativity, to begin targeting corrective stations that might begin at 203.75.
Note that the price attempt to rally above 206.00 may delay the corrective trading in the current period, paving the way for retesting the mentioned barrier before reaching the suggested corrective targets.
The expected trading range for today is between 203.75 and 206.00
Silver (XAG/USD) rallies sharply during the North American session, edged up more than 2.50% after bouncing off daily lows of $49.73 and trades at $51.37 at the time of writing. Expectations that the Federal Reserve might ease policy in December push US Treasury yields lower, a tailwind for the non-yielding metal.
XAG/USD Price Forecast: Technical outlook
Silver’s uptrend in the short-term resumed, but traders need to clear key resistance at $52.46, November 13 high. A breach of the latter will expose the yearly high of 54.46 reached in mid-October, ahead of the $55.00 milestone.
Momentum as measured by the Relative Strength Index (RSI) is bullish, hence the path of least resistance is upwards.
Conversely, if XAG/USD tumbles below $51.00, look for a drop towards $50.00. Once cleared, the 20-day SMA is up next at $49.67, followed by the 50-day SMA at $48.45
XAG/USD Price Chart – Daily
XAG/USD daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Gold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting. Traders await the release of the US ADP Employment Change Weekly, Retail Sales, and Producer Price reports, which are due later on Tuesday.
Several Fed officials signalled support for a December rate reduction, which underpins the yellow metal. Fed Governor Christopher Waller said on Monday that available data showed the US job market remains weak enough to warrant another quarter-point rate cut at the Fed’s December policy meeting. Meanwhile, San Francisco Fed President Mary Daly stated that the US central bank should cut the rates as the labor market has become increasingly vulnerable.
“The market is increasingly getting convinced that the U.S. Federal Reserve is on track to cut interest rates in December,” said Bart Melek, head of commodity strategies at TD Securities. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal. Markets are now pricing in nearly an 80% chance of a Fed interest rate cut of a quarter-point next month, up from 30% odds before their remarks, according to the CME FedWatch tool.
Traders brace for fresh US economic data later on Tuesday for further clues on the monetary policy. The US Producer Price Index (PPI) is expected to show an increase of 0.3% MoM in September, while the Retail Sales are projected to show a rise of 0.4% MoM during the same period. If the reports show hotter-than-expected outcomes, this could lift the US Dollar (USD) and weigh on the USD-denominated commodity price.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
The Pound to Dollar exchange rate (GBP/USD) moved little on Monday, with traders staying cautious ahead of Wednesday’s autumn budget.
At the time of writing, GBP/USD was trading at $1.3095, showing minimal movement since markets opened.
The Pound (GBP) held to a narrow range on Monday, with traders opting for caution as they awaited fresh clarity from Westminster. The absence of new UK data left sentiment largely unchanged, while all eyes turned to Wednesday’s autumn budget.
Chancellor Rachel Reeves is preparing to unveil the government’s fiscal blueprint for the year ahead — a challenging balance between supporting economic growth, maintaining fiscal credibility, and managing competing political pressures within the Labour Party.
With so much riding on Wednesday’s announcement, investors hesitated to reposition Sterling without firmer clues on the government’s direction.
The US Dollar (USD) also traded sideways on Monday, with investors uncertain about how the Federal Reserve will guide policy in the coming months.
The currency drew strong support last week as markets tilted toward a more hawkish Fed outlook. That momentum faded after policymaker John Williams struck a softer tone, prompting the Dollar to relinquish part of its recent gains.
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By Monday, the ‘Greenback’ had stabilised, with traders opting for restraint while awaiting further Fed commentary and upcoming US data releases.
GBP/USD Exchange Rate Outlook: US Jobs Data to Weigh on the Dollar?
The Confederation of British Industry’s (CBI) distributive trades survey is the sole UK release on Tuesday, and the Pound may struggle if the data disappoints. Sales volumes are expected to fall further in November — from -27 to -30 — signalling ongoing pressure on consumer demand. Any such weakness could lightly weigh on Sterling.
In the US, attention turns to the latest ADP employment change data. Following two consecutive declines, another soft print would reinforce concerns that the labour market is losing momentum. Weakening employment trends typically heighten expectations for Federal Reserve interest rate cuts, which could put pressure on the US Dollar.
However, the ‘Greenback’ may find some support from additional data due on Tuesday. Producer prices for September are forecast to rise, while retail sales are expected to remain in positive territory — both reminders that underlying demand in the US economy remains resilient.
Broader market sentiment will also play a key role. A risk-on shift would tend to support the increasingly risk-sensitive Pound, while any deterioration in confidence could steer investors back toward the safer US Dollar, limiting potential USD losses.
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