Technical outlook and chart setups: Silver is looking unchanged now trading at the levels of $15.50/60 looking for an opportunity to push lower as expected earlier. The metal is expected to push lower towards at least $14.60 until prices remain below $15.80/90. It is hence recommended to remain short for now with risk at $15.93. […]
Technical outlook and chart setups: Gold has managed to push higher and test recent highs of $1,279.00 before pulling lower again. The metal had push through the levels of $1,283.50 earlier, but dropped lower towards $1,277.00/78.00. As depicted here, the structure reveals that the yellow metal might have completed a diagonal into wave 5, and […]
Overview The gold price is trading steadily above 1,241.80 levels, thus keeping the bullish trend scenario valid and active for today. A breach of the critical resistance at 1,262.23 represents the key extension of the bullish wave towards 1,300.00. In general, we still expect the bullish trend on the intraday and short-term bases conditioned by […]
Overview The silver price closed yesterday’s trading at the previously breached resistance level of the bearish channel. Now silver is trading above it, forming a major support base at 15.20. As long as the price is above this level, we believe that chances for resuming the bullish bias in the upcoming period are high. It […]
Overview : Since our last analysis was published, gold has been trading downwards. As I expected, the price tested the $1,236.95 level in a high volume. In the daily time frame, I found a neutral bar, which is a sign of strenght, and an upward trendline, which was held successfully. Intraday selling looks risky at […]
Kiwi Rate Cut Morning Report: 06.30 London • New Zealand opted to cut rates to 2.25% last night, causing the NZD/USD crash lower. • By contrast, the AUD/USD is holding up well, with the AUD/JPY following suit. […]
Chinese Flower Power Morning Report: 06.30 London • Markets are slipping back again with commodities giving back most of Monday’s gains after it emerged that iron ore’s big spike may have been down to Chinese producers upping production ahead of a flower festival which required a shut down and blue skies. The Australian and New […]
Overview Gold has been trading upward since the early session and surpassed the $1263.23 barrier again. The stochastic begins to provide a positive overlapping signal on the four-hour time frame, that supports the continuation of our bullish trend expectations efficiently in the upcoming period, opening the way towards $1300.00 barrier as the next main target. […]
Overview Silver price touched the 15.70 level, which represents the first target for the positive scenario that activated after breaching 15.35 level. The metal is trading with a bearish bias, and it might retest the breached level before resuming the bullish trend. Therefore, we will keep our bullish expectations for today if the price settles […]
Technical outlook and chart setups: Silver is trading at $15.60 levels at the moment, looking to continue dropping lower and test $14.60 levels as well. Please note that the metal could produce a deeper correction towards $14.20 levels as well, before resuming higher. The metal seems to have 2 legs of its corrective drop that […]
Technical outlook and chart setups: Gold is trading at $1,268.00/69.00 levels for now after hitting $1,279.00 levels last week. The yellow metal is setting up for a meaningful retracement that extends to $1,190.00 levels at least. As depicted here, the yellow metal is expected to remain under control of bears until prices stay below $1,279.00 […]
Overview : Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,279.67. Anyway, in the daily time frame, I found a a supply bar (up thrust), which is a sign of weakness. Intraday buying at this stage looks risky. According to the the 4H time frame, […]
The U.S. non-farm payrolls (NFP) report for February painted a mixed picture of U.S. employment. The American economy added 242,000 jobs far exceeding expectations of around 195,000; the unemployment rate remained unchanged at 4.9% the lowest level in 8 years. The big miss on Friday was on wage growth. Hourly wages in the U.S. decreased […]
Volatility was high in the Gold market on Friday as price made a strong reversal from $1,275 to $1,250 and back up again to new highs towards $1,280. The trend remains bullish and will be in danger only if the metal breaks below Fridays low. Blue lines – bullish channel Gold price is inside an […]
Dollar Pairs Soar on US Stability Morning Report: 06.30 London • This morning, the Dollar pairs are still holding the highs from Friday’s Non Farm Payroll inspired rally. Headline NFP data came in well above estimates, with only average earnings disappointing. This took the pressure off the Dollar as a safe haven, allowing traders to […]
Gold has had a great start to the year where it opened on Jan 4th at $1062.43 and a few days ago it reached a new high for the year at $1279.78. The shiny metal has been one of the best performing assets so far this year. The strong rally has given the commodity a […]
Overview The gold price managed to breach the 1,263.23 level and closed the last four-hour candlestick above it. This supports the continuation of our bullish overview efficiently for the upcoming period and opens the way to 1,300.00 as the next main station. Therefore, we still suggest the bullish trend on the intraday and short-term bases. […]
Overview The silver price continued its positive trading yesterday’s evening and touched 15.30 levels approaching from the bearish channel’s resistance. It makes us prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 14.67 support and 15.35 resistance. We are waiting for breaching one of them to […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,274.57. In the daily time frame, I found a strong demand bar in a high volume. Intraday selling looks risky because the price broke our key resistance level at $1,262.00. I found a symmetrical triangle and a continuation pattern. […]
Dollar Steps Back as Economy Falters Morning Report: 06.30 London • This morning, the US Dollar remains under pressure after a set of underwhelming economic data points yesterday. Unemployment claims and revised non farm productivity came in well below expectations, while factory orders also disappointed. This data has added to the weight of speculation that […]
Technical outlook and chart setups: Gold has managed to hit highs at $1,268.38 levels for now but it is just a test of previous highs at $1,263.00/64.00 levels as of now. The metal has produced a pin bar candlestick pattern on the 4H chart view, indicating a potential drop, going forward. The metal still remains […]
Gold price has broken out of the triangle as we expected and is in its final upward move. The reversal will be confirmed on a break below $1,224 and with targets around $1,150-$1,100. The upside target remains around $1,300. Green lines – triangle pattern Blue line – support trend line Gold price has broken above […]
Technical outlook and chart setups: Silver has inched higher to $15.36 levels after having bounced off $14.60 levels earlier. The metal has remained shy, just a few cents, to hit fibonacci 0.618 support at $14.50/56, as seen here. Also the metal has remained in the buy zone of its trend line support. Bulls might be […]
NFP Day: Payrolls are expected to have increased 195,000 however the key will be wage growth, which if they moved higher, will give confidence to the FED that the economy in on the right track. NFP report is unlikely to change market’s view on the timing of Fed’s rate hike. A March hike is basically […]
Overview The silver price trades steadily below 15.00 levels keeping the bearish trend expectations valid for the rest of the day. It is supported by stochastic negativity that appears on the chart. Therefore, we wait for breaking the 14.67 level to reinforce expectations for heading to 14.27 then 13.63 as next main targets for the […]
Overview The gold price shows slight bearish bias moving near the symmetrical triangle resistance located at 1,246.55. Breaching this level will reinforce expectations for the bullish trend continuation in the upcoming period and open the way towards targets at 1,263.23 and then 1,300.00 levels. Therefore, we will keep our bullish trend expectations on the intraday […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,245.73. In the daily time frame, I found a demand bar in a volume below the average. Intraday buying looks risky because I found a strong resistance cluster at the price of $1,246.00. We got few signs of potential […]
Australian Dollar Gathering Momentum Morning Report: 06.30 London • This morning, the Australian Dollar is furthering its recent run following stronger than expected trade balance data. This morning’s boost comes despite weaker than expected Chinese services PMI. […]
Yesterday, the US ADP job report surprised on the upside which may suggest that the non-farm payroll number on Friday may turn out stronger than expected as well. Strong ADP data, boosted the USD index which now trades to its strongest level in almost a month. EURUSD: Reached one month lows at 1.0823, while today […]
Gold price remains inside the triangle pattern as we showed in our previous analysis. Price needs to break above $1,248 in order to have a bullish signal. A bullish breakout is the most probable outcome, targeting $1,300-$1,350. Support is critical at $1,200-$1,210. As long as price is above it, trend will remain bullish. Green lines […]
