Gold price gaped up early on Monday after the NO vote in the Greek referendum and a sharp decline in EUR/USD. Prices however came back to Friday’s levels as the price tested the break-down area again and got rejected, as we had expected. Blue lines – triangle pattern Last week, we saw Gold price breaking […]
Greece Votes No. Armageddon Doesn’t Happen Morning Report: 07.00 London • This morning, markets are reacting to the ‘no’ vote issued by the Greek public on Sunday. Despite warnings from European officials of dire consequences, the world has not yet come to an end as a result. The reaction is less than we might expect given […]
Overview: Gold has been trading sideways around the price of $1,168.00. According to the H4 time frame, our support cluster around the price of $1,162.00 got broken but we can observe pin bar, which is a sign for a weak breakout and potential fake breakout. Selling looks risky at this stage, because support at the […]
Chinese Markets Lead Decline Morning Report: 07.30 London • This morning, Chinese markets were under pressure after HSBC services PMI came in well below expectations. The Australian dollar has been hit due to its close Chinese links, with poor retail sales data not helping. […]
Gold price has broken below the lower triangle boundary and has given an important sell signal. Today, we can see a back test of this break-down area. A trend remains bearish and so is my longer-term view. Support at $1,130 is the last defense for bulls. If we break below that level, $1,000 will be […]
Technical outlook and chart setups: Gold dropped lower towards $1,156.00 before pulling sharply back into $1,170.00. As we can see here, the metal is trading around $1,166.00/67.00, which is also converging with the past support turned resistance and a fibonacci 0.382 resistance of the drop from $1,188.00 to $1,156.00 levels respectively. A bearish reversal would […]
Technical outlook and chart setups: Silver tested the level of $15.50 for the third time yesterday before bouncing back towards $15.80. The metal has been forming decreasing resistance making support wedge formation as depicted here, with $15.50 as support. A break below $15.50 would be extremely bearish and push the price lower towards at least […]
Overview: Gold has been trading downwards. As we expected, the price tested the level of $1,159.05 in an average volume. Our support cluster around the price of $1,162.00 was finally broken. Buying looks risky at this stage, because major support at the price of $1,162.00 was broken. We may expect potential testing of the levels […]
Gold price brake out below the triangle pattern. This is not a good sign for bulls. Inability to produce a bounce even towards $1,200 and the break of short-term support are signs of weakness. However, the most important support is seen at $1,130-50. Losing that level will push the precious metal below $1,000. Blue lines- […]
Technical outlook and chart setups: Gold is testing recent lows of $1,165.00/66.00 at the moment. Please note that a break below $1,165.00 would warrant a test of $1,160 and subsequently $1,143.00 threatening the bullish scenario here. It is recommended to remain long with risk at $1,150.00 but restrain yourself from taking fresh long positions now. […]
Technical outlook and chart setups: Silver tested the recent low of $15.50 again before pulling back towards $15.90. The metal is seen to be trading around $15.55/60 now looking to reverse ahead of $15.50. A drop below $15.50 would provide the pair with room for a test of $15.30. On the other hand, the potential […]
Euro Higher Despite Greek Confusion Morning Report: 07.30 London • Confusion reigns in Greece over whether Tsipras has capitulated to creditor demands and whether the weekend’s referendum will go ahead or not. There were conflicting signals yesterday, but markets seem a little more steady this morning, with the euro trading higher across the board. […]
Overview: Gold has been trading sideways around $1,171.00. We can observe a gap zone between the levels of $1,175.00 and $1,181.00. Our gap zone is broken since the price has tested the level of $1,171.00. I am waiting for stronger price actions and a larger volume. In the daily time frame, we can observe a […]
Gold price continued to trade sideways inside the bigger triangle pattern and above support of $1,160. The short-term trend is unclear while the longer-term trend remains bearish. My longer-term view remains bearish targeting $1,000. Blue lines – triangle pattern Gold price remains inside the triangle pattern and it shows some signs of weakness as it […]
Aussie Rallies as Euro Stews Morning Report: 07.30 London • This morning, the euro remains on simmer as the latest moves and counter moves play out between Greece and creditors. • The big mover this morning is the Australian dollar after ‘good […]
Overview: Gold has been trading sideways around $1,175.00. We can observe a gap zone between the levels of $1,175.00 and $1,181.00. Our gap zone is broken since the price has tested the level of $1,171.00. I am waiting for stronger price actions and a larger volume. In the daily time frame, we can observe a […]
Gold is trading around $1,175. The overall trend is neutral. Medium- and longer-term trends remain bearish. Critical support is at $1,160 while important resistance is at $1,230. Gold remains below the Ichimoku cloud and is still inside the triangle pattern. The price is trading near the lower triangle pattern boundaries. Critical support is at $1,160-$1,150. […]
Technical outlook and chart setups: Gold has retraced lower from recent highs and is trading around the level of $1,177.00 at the moment. Please note that the metal has bounced off the fibonacci 0.786 support off the rally between $1,160 and $1,205 earlier and bulls should be poised to push it higher towards the level […]
Technical outlook and chart setups: Silver is trading around $15.70 levels now after bouncing off from intraday lows at $15.60. The metal has retraced from yesterday’s highs and seems to be ready to resume its rally towards $16.40 and $16.90. Bulls should be poised to remain in control until prices stay above yesterday’s lows ($15.50). […]
Euro Rebounds – Markets Remain Cautious Morning Report: 07.30 London • The euro is holding steady, with a negative bias after a spectacular rebound yesterday. Markets remain cautious however as they respond to the wider risk-off implications of the weekend terror attacks in addition to the risk posed by a Greek default/euro exit. […]
Greece on the Brink – Euro Plunges 1% Morning Report: 07.30 London • Equity futures and risk markets have sold off heavily after a weekend of turmoil in Europe. While the Greek decision to extend capital controls and plan a referendum have hit markets hard, the terrorist attacks across Europe are also weighing heavily on sentiment. […]
Overview: Gold has been trading sideways around $1,174.00. We are facing low liquidity on the market. I am waiting for stronger price actions and larger volume. In the daily time frame, we can observe a neutral bar (doji) in a volume below the average. Selling looks risky at this stage, because we got major support […]
Gold continues to trade within the larger triangle pattern. The trend is bearish. We could see a short-term bounce towards $1,180 or even $1,190 if support at $1,170 holds. My longer-term view remains bearish. Blue lines – triangle boundaries Gold is below the Ichimoku cloud and above the triangle lower boundary. There are increased chances […]
Technical outlook and chart setups: Gold is trading around $1,174.00 now. Ir calls for a push above at least $1,180.00 to confirm that a meaningful low is in place at $1,170.00. The metal has taken support of fibonacci 0.786 level of the rally between $1,160.00 and $1,205.00 respectively and there is still a high probability […]
Technical outlook and chart setups: Silver is trading around $15.85 at the moment, looking for an opportunity to break higher. A push through $16.25/30 would confirm that the metal has hit a higher low at $15.75 and that it would continue moving towards higher highs and higher lows. It is still recommended to hold long […]
Euro Holds Firm, Traders Hold Breath Morning Report: 07.30 London • Greece supposedly enters its last chance saloon on Saturday, but we’ve heard this before and markets are currently confident of a deal being done. The euro is on the back foot, but remains relatively steady given the circumstances. […]
Overview: Gold has been trading sideways around $1,174.00. In the daily time frame, we can observe a neutral bar (doji) in a volume below the average. Selling looks risky at this stage, because we got major support around $1,168.88 – $1,162.00. We can observe an ultra-high effort from sellers in the M30 time frame, but […]
Euro Stable As Negotiations Crawl Morning Report: 07.30 London • This morning, the dollar is nipping back slightly after three days of gains this week. By contrast, the S&P 500 is on the rise after heavy selling yesterday. • The euro is […]
Gold price has stopped its decline above $1,170 and the trend remains mostly sideways as it has been for the last four months. There are increased chances of a push higher towards $1,190 as long as the price holds above $1,170. My longer-term view remains bearish. Blue lines = triangle pattern Gold price has moved […]
Technical outlook and chart setups: Gold is trading around the level of $1,177.00 now after dropping lower to $1,170.00 on Tuesday. The metal has formed a bullish morning star pattern as seen on the H4 chart. Bulls should remain poised to resume rally from current levels to fresh swing highs at $1,225.00 and higher respectively. […]
