Euro Struggles on German Hard Line Morning Report: 07.00 London • This morning, the euro is struggling as Germany, or more specifically Angela Merkel maintains a hard line in relation to Greek debt negotiations. • Elsewhere, the Australian and New Zealand dollars remain rangebound, with the NZD/USD pushing against Friday’s losses and the AUD/USD continuing […]
Overview According to the shown H4 chart, Silver price declined with the end of the last week trading near the EMA50, which represents a good intraday support base that protect the positive scenario on the intraday basis, noticing that stochastic reaches the oversold levels now. It supports the chance of resuming the bullish bias in […]
Overview: Since our last analysis, gold has been trading sideways around the price of $1,117.23. As we expected, the price went to test the level of $1,112.33. According to the daily time frame, we can observe a neutral bar (doji) in a volume below the average. The price finaly broke our resistance at the level […]
Technical outlook and chart setups: Silver is seen to be trading around $15.25 levels, after having pulled lower from $15.60 levels earlier. Please note that the metal has reversed from fibonacci 0.786 resistance levels, of the drop between $15.90 and $14.40 levels respectively. Bears are expected to take back control till prices stay below $15.90 […]
Technical outlook and chart setups: The yellow metal has stalled around $1,125.00 levels in its counter trend rally till now. Please note that the metal has reached fibonacci 50% resistance of the drop between $1,175.00 to $1,077.00 levels respectively. A resumption of the bearish move is possible from current levels or from $1,130.00/35.00 levels respectively. […]
Gold price remains in a short-term bullish trend. However, the minimum conditions for a healthy bounce have been met and the downtrend can now resume. The bounce could extend even higher towards $1,140-50 area if resistance at $1,130 is broken. On the other hand, support at $1,090 is critical, because if price falls below this […]
A Quiet Summer Monday Morning Report: 07.00 London • This morning, markets are dead calm after a rare weekend of no Greek activity and no currency surprises from China. Stock markets are slightly on the back foot, while the dollar index has a positive bias. • The euro looks set to continue Friday’s negative session […]
Greek Govt Passes Vote – Markets Shrug Morning Report: 07.00 London • This morning, markets have reacted to the passing of the Greek debt vote in the Greek parliament with a broad attitude of difference. Of greater importance was German GDP coming in below expectations. The euro has dropped slightly this morning after a fairly solid […]
Goldman Sachs is to pay $272 million to settle a lawsuit claiming it defrauded investors about the safety of about $6 billion of residential mortgage-backed securities they bought in 2007 and 2008. The settlement with investors led by the NECA-IBEW Health & Welfare Fund, an electrical workers’ pension fund in Decatur, Illinois was disclosed in […]
Euro Retreats as Germany Digs In Morning Report: 07.00 London • This morning, the euro is on the back foot despite signs of Greece inching towards a deal. This is progressing despite Germany stating that the deal is insufficient. • Elsewhere, the pound is regaining ground after disappointing earnings growth yesterday. • The Aussie is reversing yesterday’s […]
China Production Hits as RMB Plunges Again Morning Report: 07.00 London • China upped the stakes in the currency wars this morning with another dramatic devaluation of the renminbi. In addition, Chinese industrial production ‘slumped’ to 6% growth, with fixed asset investment also disappointing. The dollar index is off the morning highs, while the S&P 500 […]
After the yuan devaluation, the USD spiked suddenly at yesterday’s session. But the reality comes to the limelight in the form of a currency war and delay in the US interest rates hike. The metal extended the rally towards the crucial resistance level of $1,120.00 but was rejected. Bank of Montreal analyst Jessica Fung said […]
Technical outlook and chart setups: Gold rose through the $1,120.00 levels yesterday, just above its fibonacci 0.382 resistance, of the drop between $1,167.00 and $1,070.00 levels. Please also note that the metal is stalling at an immediate resistance line at the moment, indicating a potential pullback/reversal ahead. It is hence recommended to remain flat for […]
Technical outlook and chart setups: Silver is stalling at the fibonacci 0.618 resistance levels (of the drop between $15.90 to $14.40 levels respectively), around the $15.30/40 levels as seen here. Also note that the metal is testing the immediate resistance line as well. It is recommended to stay flat for now and watch out for […]
Gold price has held above support after back testing the Ichimoku cloud and bulls have managed to break above the long-term downward sloping trend line resistance. Gold is most probably heading now towards $1,130-40 for a bigger bounce. Blue line – long-term resistance trend line Green lines – broken triangle Gold price has successfully back […]
Overview: Since our last analysis, gold has been trading upwards. As we expected, the price went to test the level of $1,119.21. According to the daily time frame, we can observe a demand in a volume below the average. I found a strong trading range between the prices of $1,077.00 (support) and $1,108.00. Selling gold […]
China Weakens Renminbi Morning Report: 07.00 London • This morning, China has spooked its trading partners by weakening the fix on its daily Renminbi reference rate. Monday saw some positive behaviour on the expectation of stimulation from China, but not this. The move has hit the Australian Dollar hardest, with the Aussie pairs generally down over […]
The yellow metal extended gains at yesterday’s session to $1,108.60 refreshing a weekly high. The metal managed to close above 3-week high after a huge consolidation in a tight range. Lockhart said that Fed tends to raise interest rates in September, but wait 1-2 meeting and you will not see any action and a decision […]
Technical outlook and chart setups: Gold has already surpassed the 50-day moving average but is stalling around initial resistance zone around $1,110.00 levels for now. Please also note that the immediate resistance line is also passing through nearby. It the metals fails to climb above $1,111.00 levels, it can be expected to dip lower back […]
Gold price has broken above the triangle pattern but has found resistance on the long-term downward sloping trend line. As I mentioned yesterday, we should not forget that this is most probably a bounce inside a bigger longer-term bearish market, so traders should treat upward moves with extreme caution. Blue line – long-term resistance trend […]
Technical outlook and chart setups: Silver has pushed higher through $15.30 levels, our minimum expectations, as seen here. Please also note that the metal is trading/stalling at the fibonacci 0.618 resistance (drop between $15.90 and $14.40 levels) and also the immediate trend line resistance. It is hence recommended to book profits on long positions taken […]
Overview: Since our last analysis, gold has been trading sideways around the price of $1,095.00. According to the daily time frame, we can observe a weak small real body. I found a strong trading range between the prices of $1,077.00 (support) and $1,108.00. Selling gold around our support looks very risky and my advice is […]
The metal lacks momentum at higher levels between $1,100.00 and $1,105.00, on a weekly basis it has been making lower closing price. Nonfarm payroll report showed 215,000 new jobs in July, and the unemployment rate was unchanged at 5.3 percent. China encourages private gold reserves. Wall Street gold expert Perth Mint Baron Suxie Ke said, […]
Gold price continues to trade inside the triangle pattern between $1,100 and $1,080 levels. Soon we will see a break out above or below this trading range that will start a new short-term move towards $1,130 or $1,040 respectively. Blue line – trend line resistance Green lines – triangle pattern Gold price remains below the […]
Monday Contained By Summer Trading Morning Report: 07.00 London • This morning, absent of any significant weekend news and with traders heading to their holiday homes, markets are understandably quiet this morning. There have been some positive noises from Europe over Greece, but nothing of real substance so far. • The dollar index is unchanged, while the […]
Gold price remains inside the triangle pattern even after the announcement of the US unemployment rate and Non-Farm Payrolls. Earlier today we saw the price bounce towards $1,098, but it pulled back down after the NFP numbers came out. Blue line – trendline resistance Green lines – triangle pattern Gold price remains inside the triangle […]
Not So Sterling Morning Report: 07.00 London • Markets are quiet as is often the case on the morning of an NFP day. The S&P 500 is up slightly after heavy selling yesterday, while the Dollar index is unchanged. • The Pound is holding on after selling off yesterday. MPC voting patterns and comments from Carney implied […]
Gold price remains inside the trading range triangle pattern. However, today we see some strength signs as Gold price moves higher towards the upper triangle boundary near the $1,100-$1,105 resistance area. With Non-Farm Payrolls announced today in the US, traders should be patient as volatility is expected to rise. Blue line – trendline resistance Green […]
Overview According to the attached H4 chart, the silver price continues to move below the bearish channel’s support as the EMA50 keeps forming negative pressure on the intraday and short-term trading, which keeps the chances to continue the bearish bias valid in the upcoming sessions reminding you that we need to break the 14.40 level […]
Overview From the attached H4 chart, silver price continues to move below the bearish channel’s support as the EMA50 keeps forming negative pressure on the intraday and short-term trading, which keeps the chances valid to continue the bearish bias in the upcoming sessions, reminding you that we need to break the 14.40 level to confirm […]
