The Dollar Future Index The dollar future index surged from the intra-day low of 95.48 to 96.49, increasing by 1.06%, returning to the uptrend line and breaking out the resistance at 96. On the 4 hourly chart, the price is above all the EMAs (exponential moving averages). The short term EMAs crossed over long term […]
The Dollar was boosted on Friday as a result of a much better than expected NFP report which showed 255.000 jobs added in August compared to 180.000 forecasted. Besides, the core data of NFP, other indicators such as wage growth and the unemployment rate were also on the good side, easing fears that the US […]
Gold price got rejected at resistance last Friday and made a sharp pull back towards $1.330 after the announcement of the US NFP numbers. Medium-term bullish trend remains intact only as long as price is above $1,300. Bulls need to see a reversal to the upside from current levels but not a break of the […]
Overview The gold price showed positive trading after leaning on the EMA50 yesterday. Positive support by stochastic on the intraday time frames keeps the chances of trading positively valid in the upcoming sessions. The price is likely to breach 1,375.00 levels to reinforce the expectations of targeting the 1,400.00 followed by 1,440.00 areas. Therefore, we […]
Overview The silver price broke 20.05 levels and settled below it now, which puts the price under potential negative pressure during the current session. The target is testing the key support 19.38 before turning back to resume the main bullish trend. Note that the overall trend is still bullish as long as the 19.38 level […]
Since our previous analysis, gold has been trading downwards. The price tested the $1,343.53 level in an ultra high volume. According to the 15M time frame, I found selling climax and ultra wide spread of the bar, which is a sign that selling looks extremely risky at this stage. I found potential end of ABC […]
Gold price is challenging its recent highs at $1,367 and its yearly highs at $1,375. With the announcement of the US Non-Farm Payrolls today we expect volatility to rise and to see wide price movements. Gold price usually starts to fluctuate before the NFP numbers are announced, so be careful of stop hunters. Blue line […]
Since our previous analysis, gold has been trading downwards. The price tested the $1,348.97 level in a high volume. According to the 1H time frame, I have found that Gold refused to break supply trendline and that is the reason for downward reaction. Gold is in an intraday downward trend and buying looks very risky. […]
Gold price got rejected at the previous high and resistance at $1,375 and is pulling back. The rise from $1,310 looks impulsive, so we will treat this pullback as a corrective one before the next leg up. A break below $1,310 will open the way for a push towards $1,250. Red line – short-term support […]
Technical outlook and chart setups: Silver has hit fresh lows at $20.00/05 levels as expected and discussed earlier. The metal is trading at $20.15 level at this moment and looks to be setting up for a retracement/counter trend towards $20.40 level before reversing. If the above wave count holds true and Silver fails to break […]
Technical outlook and chart setups: Gold finally reversed as expected and broke lower below $1,360.00 level, hitting $1,349.00/50.00 levels right now. The metal is now expected to retrace higher towards $1,360.00/63.00 levels again before reversing again. It looks like the metal has carved out a meaningful top at $1,367.00 level and should be setting up […]
Overview The gold price has continued its calm positive trading and is gradually moving towards the previously recorded top at 1,375.00. The bullish wave slowness is explained by stochastic, which might force the price to show some temporary sideways trading until it manages to get enough positive momentum to push the price to resume the […]
Overview The silver price shows slight bullish bias and approaches gradually from our first awaited target at 21.12. The price is supported by the EMA50, which increases the chances of breaching the mentioned level and opening the way to 22.00 followed by 22.40 levels on the short-term basis. Therefore, the bullish trend will remain valid […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the $1,367.01 level in a high volume. According to the 1H time frame, I have found that Gold went into correction but watch for breakout of supply trend line to confirm further upward movement. Observing the market profile today, it […]
The spot price for gold is up 4.06% from 1313.77 on 26th July to 1367.16 on 2nd August, a three week high. There have been several factors providing a lift for gold prices. Firstly, the recent weakening of the dollar gives rise to the increase of gold prices. Last Wednesday, the Fed kept rates unchanged […]
The spot price for gold is up 4.06% from 1313.77 on 26th July to 1367.16 on 2nd August, a three week high. There have been several factors providing a lift for gold prices. Firstly, the recent weakening of the dollar gives rise to the increase of gold prices. Last Wednesday, the Fed kept rates unchanged […]
Gold price has broken through resistance and is testing previous highs at $1,375 with increased chances of a new higher high towards $1,400. However Gold bulls should be very cautious as we observe bearish divergence signs. Red line – support Gold price is making higher highs and higher lows. The reversal I was expecting is […]
The market has been very busy selling Dollars yesterday. With the exception of the Canadian Dollar which dropped significantly due to its correlation with oil prices, all majors gained significantly versus the American currency. Catalyst for the move continues to be last Fridays poor GDP Report which basically means that the market is reevaluating its […]
Technical outlook and chart setups: Silver has finally $20.80 levels yesterday as expected and discussed earlier. The metal is trading at $20.60 levels at this moment and looks to have completed its counter trend rally that began from sub $19.00/20 levels earlier. If the above wave count holds true and Silver fails to break above […]
Technical outlook and chart setups: Gold had hit yet another intraday high at $1,367.00/68.00 levels yesterday and it should be looking to pullback/reverse from here, but it needs to break below $1,360.00 levels to confirm. Please note that the metal is trading around $1,364.00/65.00 levels at this moment, having carved out a lower high at […]
Overview The gold price trades with calm positivity in attempt to approach gradually from our first main target at 1,375.00. The price gets continuous positive support to achieve gains in the upcoming period. In general, the positive scenario will remain valid as long as the price is above 1,312.00 and 1,297.75 levels. A break of […]
Overview The silver price shows positive attempts now supported by the positive overlapping signal generated by stochastic. This reinforces bullish trend expectations for today; we are waiting for the price to test 21.12 levels initially as its breach will lead to further gains to 22.00. Therefore, we still expect the bullish bias in the upcoming […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the $1,363.90 level in a high volume. According to the 1H time frame, I have found that price broke consolidation trading range and did successful test of support after the breakout, which is a sign that Gold may continue higher. […]
Technical outlook and chart setups: Silver has finally inched higher today as expected and hit fresh intraday highs at $20.80 level. The metal is trading a bit lower at $20.65 level at this moment and looks to have completed its counter trend rally that began from sub $19.00 level earlier. If the above wave count […]
Technical outlook and chart setups: Gold has hit yet another intraday high at $1,360.00/61.00 levels today and it should be looking to pullback/reverse from here on. Please note that the metal is trading around $1,359.00/50.00 levels at this moment, having carved out a lower high at $1,360.00. Please note that the metal has now tested […]
Gold price is consolidating near its recent highs around $1,350. Short-term support is held and the trend is bullish as long as price is above $1,345. A new high is not ruled out as long as price is holding above $1,345-50. However I believe it is more probable to see a bearish reversal. Blue line […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the $1,354.82 level in a high volume. According to the 1H time frame, I have found solid support at $1,346.20. There is a weak supply at this support, which is indication that sellers don’t have enough power for larger correction. […]
Gold price pushed above $1,350 on Friday after the weak GDP numbers announced for the US economy. With Dollar weakening, Gold price spiked above short-term resistance and reached $1,356. Despite being technically bullish, Gold price has completed a 3-wave upward correction that reached the 61.8% Fibonacci retracement of the entire decline. Red line -trend line […]
Technical outlook and chart setups: Silver is seen to be trading at $20.55 levels for now, after having made highs at $20.65 levels earlier as expected. Please make note that Silver is soon approaching resistance at $20.80/90 levels and it is quite possible that the metal rallies through those levels before finally reversing lower. There […]
Technical outlook and chart setups: Gold had completed rally through $1,350.00/55.00 levels as expected and discussed on Friday .The yellow metal had made highs at $1,356.00 levels before pulling back lower again. Please note that the metal is trading around $1,349.00/50.00 levels at this moment, looking to drop lower from here. It is still possible […]
