Read the Daily Market Report from Dave Evans, Professional Trader USDJPY pushes further past 100 Morning Report: 08.00 London • This morning, the Japanese yen has continued to weaken against the US dollar with the 2009 high of 101.43 now in range. Other yen pairs such […]
Overview As it was expected yesterday, the metal almost might take an upward move due to the upward trend line. Today and as shown for the H4 chart, the metal took a slightly upward move after it has bounced from the upward line and it managed to close 4H above the resistance level 23.90 as […]
Technical outlook and chart setups: The white metal is bouncing off within the cone structure presented here. At the moment it is testing the upper boundary at 24.10/15 levels and a reaction is expected lower from here. A break below 23.50 would shift focus lower towards 23.00 atleast. It is recommended to remain short from […]
Technical outlook and chart settings: The yellow metal is clearly in a sideways trading range as shown in the chart view here. It is within the 1570/80 resistance zone and 1530/40 support zone as blue lines show on the chart. A move lower is favoured, though making a strong statement in a sideways market is […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie pushes higher after employment data Morning Report: 08.00 London • After another set of new highs for US stock markets last night, the Australian and New Zealand dollars are leading markets higher after stronger than […]
Technical outlook and chart setups: The yellow metal should be targeting lower towards at least 1,400/05 levels as seen here. The rally from 1,300.00 level may be still a correction and a fresh low could be insight. Strong resistance remains at 1,500/20 levels which was weekly support for at least 6 months. It is recommended […]
Technical outlook and chart setups: The metal seems to be breaking down its counter trendline indicating a down extension, possibly towards 22.00 level or even lower. The rally from 22.00 level has been corrective in nature and has stalled at 24.80 level for now. The following implications are possible: 1. The metal could find support […]
Read the Daily Market Report from Dave Evans, Professional Trader Dollar backs off as euro recovers Morning Report: 08.00 London • Last night the S&P 500 set a new closing high, while the FTSE 100 hones in on the 6900 level. With risk appetite returning, safe […]
Overview: Like we expected yesterday, the price’s close below 23.90 will give new opportunities for sell-signals. Currently the metal has already managed to break this level to trade below and open the way towards 23.20 as first target, then the metal must test the Support level 23.00 to get more bearish move till reaching 22.50 […]
Technical outlook and chart setups: Silver is looking for support around 23.00 level before a possible bounce. Currently the metal is trading at around 23.70/75 levels, expect the metal to dip to 23.00 level soon. A bullish bounce at 23.00 would be recommended to go long. The region is also marked by Fibonacci 0.618 support […]
Technical outlook and chart setups: The metal has done nothing since few trading sessions. Immediate resistance is at 1,480/80 region, while support is around 1,420/40 region. It is recommended to remain flat for now and plan to buy towards the lows of 1,420/40 region or sell around the highs around 1,480/90. Also please note that […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie slumps as rates hit record low Morning Report: 08.00 London • This morning the Australian dollar is selling off heavily after the RBA voted to set rates at a record low level. The AUD/JPY leads […]
Overview: The H4 chart demonstrates that bullish signals opportunity is still expected as long as the metal is trading above 23.90 and according to that, it will open the way towards the resistance level 25.00. Thus, we will get a good opportunity again after closing 4H above this resistance level with 25.50 as the […]
Technical outlook and chart settings: The currency pair had bounced off the trend line support around 23.30 levels yesterday. At the moment, the rally from yesterdays’ lows is likely to be a retracement/correction and Silver can fall back to 23.00 levels before rallying back. A conservative trading approach would be to book partial profits at […]
Technical outlook and chart settings: The yellow metal seems to have taken intermediary support at 1440.00 for now. Currently trading at 1475.00, the metal could target 1500.00 on a break above 1480.00. It is recommended to refrain from buying at current levels, and better to wait for a dip towards 1420/00. Resistance is strong at […]
Gold has gained 1.5 percent since the announcement of interest rate cuts by the European Central Bank on Thursday to a record low 0.5 percent. As the president of the ECB, Mario Draghi said the central bank will continue with stimulus measures, this pushed investors to the safe haven precious metal. Analysts have attributed recent […]
Read the Daily Market Report from Dave Evans, Professional Trader Euro rebounds ahead of Fed Morning Report: 08.00 London • This morning, financial markets have a positive bias with the EUR/USD the best performing currency. ECB member Nowotny has helped reverse euro sentiment by stating that […]
Overview Proceeding from the H4 chart, it may be a good opportunity for bullish signals today in case the metal closes the current 4H candle above the resistance level 23.90 and according to that, it will open the way towards the resistance level 25.00. Thus, we will get a good opportunity again after closing 4H […]
Technical outlook and chart settings: As seen here, the metal has retraced as per expectations yesterday and bounced off right from the trendline support (drawn from recent swing lows), around 23.30/35 levels. This region is also re-enforced by the past resistance turned support as seen on the chart. Hence, it is recommended to initiate long […]
Technical outlook and chart settings: The yellow metal has retraced down to 1,440.00 levels yesterday before pulling back. As seen here, support region is spread through 1,430.00, followed by 1,400.00 and 1,380.00; while resistance level is 1,480/85 (intermediary), followed by 1,500/10 levels (major support turned resistance), 1,580/85 and higher. As discussed yesterday, the Gartley extension […]
Read the Daily Market Report from Dave Evans, Professional Trader All Eyes On the ECB Morning Report: 08.00 London • This morning, financial markets have a negative bias after the S&P 500 sold off into the close last night. This morning, the negative tone has continued, […]
Overview As shown in the H4 chart for today, the metal’s support level 23.90 has been broken yesterday and according to that the metal took a slightly downward and currently is stabilizing above the support level 23.00 which needs to be broken to continue its downward trend, the breakout of this support level gives a […]
Read the Daily Market Report from Dave Evans, Professional Trader Markets wary ahead of Fed statement Morning Report: 08.00 London • This morning, markets are wary, with a negative bias after Chinese manufacturing grew less than expected. The UK Nationwide house price index also unexpectedly dropped […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold recovery back on trackMorning Report: 08.30 London • Last night, the S&P 500 closed at a record high, while Asian markets hit their highest levels since the 2008 crisis. This mornings trading is a […]
Gold approaches the upper limit of its medium-term bearish channel at 1,478 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened […]
Overview The H4 chart demonstrates today that silver is still trading between the Support level 23.90 and the Resistance level 25.00 after it has failed to break the Support level last week and closed 4H above. Given that silver manages to close 4H below it, it provides a good opportunity to sell till reaching the […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie leads in positive start to weekMorning Report: 08.30 London • Markets have started the week with a positive bias, with commodity related currencies leading the charge. Click here to view full-sized image • The dollar […]
Read the Daily Market Report from Dave Evans, Professional Trader Euro steady despite Spanish unemploymentMorning Report: 08.30 London • Markets are steady this morning, with a bullish bias despite Spanish unemployment rising more than expected to an eye watering 27.2%. Right now hopes for some […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold recovery back on trackMorning Report: 08.30 London • This morning there is a positive bias as stock markets rise at the open and gold erases most of yesterday’s gains. Click here to view full-sized […]
Read the Daily Market Report from Dave Evans, Professional Trader Markets slip on China manufacturing plungeMorning Report: 08.30 London • This morning world markets have slipped into reverse mode after Chinese manufacturing came in well below estimates and German manufacturing & services date shrank more […]
