Pound Wobbles as Deficit Widens Morning Report: 06.30 London • This morning, the British Pound remains on the back foot after further bad news from Chancellor George Osborne. The UK current account deficit ballooned to -32.7bn while net lending to individuals dropped. The impact has been measured, though, as GDP came in above expectations. The […]
Euro Out Performs Morning Report: 06.30 London • This morning, the euro is on the back foot against the US dollar but is generally outperforming its peers, especially the British pound. • The EUR/GBP is […]
Gold lost more than 1% as a surge in assets caused by Federal Reserve Chair Janet Yellen’s dovish remarks implied higher risk, prodding some investors to capitalize on previous gains. The Fed head’s comments, which had lifted the precious metal by almost 2%, indicated interest rates will possibly increase gradually and reassured traders, as higher […]
Overview According to the attached H4 chart, we see that the gold price has been trading sideways in a tight range since morning. The price remains confined between the confirmation levels represented by the 1,227.40 support and the 1,241.50 resistance, where the price needs to breach one of them to detect its next trend clearly. […]
Overview The silver price bounced clearly to the upside yesterday after an attempt to break the bullish channel’s support seen in the image, thus keeping the bullish trend scenario valid for the upcoming period, which is conditioned by holding above 15.15 levels. The price is likely to test the 15.70 level as the next main […]
Since our last analysis, gold has been trading upwards. The price tested the level of $1,243.84 in a high volume. Anyway, price respected strong resistance cluster at the level of $1,243.00 (previous swing low, downward trend line).To confirm further upward movement, I would like to see a breakout of the $1,245.50. According to the daily […]
Dollar Dips On Yellen Outlook Morning Report: 06.30 London • This morning, the US Dollar is continuing its decline inspired by comments from Fed Chair Janet Yellen last night. The bulk of this morning’s move appears to be driven by backing for the Yen, with the bulk of the Dollar damage done yesterday. […]
Gold prices bounced yesterday towards our target area of $1,235-40 as expected by our analysis. Gold has now reached an important short-term resistance. If the price manages to break above $1,250 we could even see new highs towards $1,300. Otherwise we should expect a break of $1,208 and new lows towards $1,190-$1,170. Blue lines – […]
Overview The gold price has not shown any strong moves since morning, still fluctuating around 1,220.00 and trading steadily below 23.6% Fibonacci level that forms a critical resistance at 1,227.40. Stochastic continues providing negative signals in the four-hour time frame. Therefore, we expect the bearish bias for the rest of the day; its targets begin […]
Overview The silver price broke the bearish channel’s support level and closed the last four hours below it, invalidating the positive scenario suggested in our last reports. We should stay aside in order to monitor the price behavior according to the critical levels represented by 14.67 support and 15.70 resistance. The price is likely to […]
Since our last analysis, gold has been trading sideways around the price of $1,218.00. Price is trading in defined trading range between the price of $1,223.50 (resistance) and the price of $1,208.00 (support). If the price breaks the support level of $1,208.00 we may see potential testing of $1,193.00 (major Fibonacci retracement 38.2%). From the […]
Dollar Recovers From Easter Slump Morning Report: 06.30 London • This morning, the Dollar pairs are under pressure as the US Dollar index recovers from its Easter Monday slump. • The USD/JPY has been the big winner of late as the US Dollar recovers and […]
Gold is trading inside a downward sloping channel. However, there are increased chances of a bigger bounce this week towards $1,240. Downside is limited to $1,200-$1,190 if we break below $1,208. Blue lines – a downward sloping channel Gold is trending lower but as it has reached the lower channel boundary I believe it is […]
Technical outlook and chart setups: Silver is drifting sideways for now, trading at $15.18 levels. The metal rallied through $15.30/35 levels yesterday before pulling back lower again. A minimum criteria seems to be complete for a wave 4 correction at $15.30/35 levels, and the pair might be looking to hit fresh lows going forward. On […]
Technical outlook and chart setups: Gold is seen to be trading at $1,218.00 levels for now, looking to continue dropping lower towards $1,190.00 levels at least. It is still possible that the metal hits $1,227.00/28.00 levels before resuming its downtrend. Please note that $1,227.00 levels is also the fibonacci 0.382 resistance of the drop between […]
Gold held an advance from a one-month low as traders weighed the view for interest rates this year as figures showed the Federal Reserve’s choice of inflation gauge slowed in February. Bullion for immediate delivery, which previously ended 0.4% higher in a recovery from $1,208.38, its lowest since February 23, ended at $1,220.88 per ounce […]
Overview The gold price traded steady below the 23.6% Fibonacci level that was broken previously and turned into key resistance at 1,227.40. This makes the correctional bearish scenario valid and active, supported by stochastic negativity. Therefore, the price is likely to test the 1,193.00 level initially. A break of this level represents the key to […]
Overview Silver price continues to fluctuate around the bullish channel support that appears on image and keeps its stablility above it. This keeps the bullish trend scenario valid until now, waiting to breach the 15.30 level to open the way to the target of 15.70 followed by the 16.35 levels mainly. We have to note […]
Overview : Since our last analysis, gold has been trading downwards. As I had expected, the price tested the $1,208.18 level. Our head and shoulders formation is still active and it has been progressing so far. Our first take profit level at $1,225.00 has been reached. Downward take profit level is set at $1,193.00 (major […]
Technical outlook and chart setups: Silver is seen to be consolidating after hitting lows at $15.10/13 levels last week. The metal should be looking to produce a corrective rally through $15.45 levels from here before reversing again. As depicted on the short term chart here, the metal should face resistance at the fibonacci 0.382 levels […]
Technical outlook and chart setups: Gold continues its drop lower as expected earlier and hits yet another low today around $1,207.00 levels before pulling back. The metal is seen to be trading at $1,215.00 levels for now, looking to consolidate before dropping to $1,190.00 levels. According to the structure presented here, the metal could rally […]
Gold price has broken down the sideways channel since last week and remains in a short-term bearish trend targeting a bigger pull back towards $1,150-$1,100. Even if price reverses higher for a new higher high above $1,283, the upside is limited and a deep correction is due. Blue lines – sideways channel (broken) Green line […]
View : Since our last analysis, gold has been trading upwards. The price tested the $1,223.00 level. Our head and shoulders formation is still active and it has been progressing so far. Our first take profit level at $1,225.00 has been reached. Next, downward take profit level is set at $1,193.00 (major Fibonacci retracement 38.2%).On […]
Microsoft Corp Microsoft rising inside impulse waves 5 and (3) Likely to rise to 55.00 Microsoft has been rising in the last few trading sessions – breaking through the resistance level 52.60, which was set in our previous forecast as the likely target for the upward movement of this company. The price earlier […]
Overview The gold price broke the 1,227.40 level and settled with a daily close below it, stopping the recently suggested bearish wave and putting the price into a correctional bearish track. Its next target is located at 1,193.00, which represents 38.2% Fibonacci for the rise measured from 1,047.60 to 1,282.90. Therefore, the bearish bias is […]
Overview The silver price resumed its decline yesterday touching the expected target mentioned in our last report at 15.30 and trading near the bullish channel’s support located now at 15.15. The support offers a positive factor that protects trading inside the mentioned channel, making us project the bullish bias in the upcoming sessions. Therefore, the […]
View : Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,212.40. Our head and shoulders formation is still active and so far it is progressing. Our first take profit level at the price of $1,225.00 has been reached.According to the 4H time frame, we can […]
Gold price broke down yesterday below the sideways channel and confirmed my view that the entire rise from $1,045 is completed. I believe that over the next couple of weeks, Gold price will fluctuate between $1,270 and $1,100. My strategy is to wait and open long positions when price falls below $1,180. Blue lines – […]
Technical outlook and chart setups: Silver has dropped and almost hit the first estimated target at $15.00 levels as discussed yesterday. The metal is trading at $15.27 levels for now, looking to form intermediary lows at $14.90/15.00 levels before pulling back. According to the wave structure, it was well anticipated that a meaningful top was […]
Technical outlook and chart setups: Gold has dropped lower as discussed and expected, and is trading at $1,218.00 levels at the moment. The yellow metal may produce intraday rallies but those should remain well capped below $1,230.00/35.00 levels. Please note that $1,230.00/35.00 is also the past support turned resistance now, as shown here. Also note […]
