Overview: Gold has been trading sideways around the price of $1,190.00. The price has returned to our trading range but since we got the sign of strength in the background, we may expect bullish momentum again. According to the daily time frame, we can observe demand bar in an average volume. The price has broken […]
Technical outlook and chart setups: Gold is trading around the level of $1,190.00 at the moment after pulling back from $1,195.00 on the higher side. Please note that the metal has already tested the trend-line support twice earlier and also bounced from the fibonacci 0.786 level of the rally between $1,168.00 and $1,231.00. It is […]
Technical outlook and chart setups: Silver is trading around $16.70 now. The metal might be looking to form a base around $16.40 before resuming its rally. Please note that $16.40 is also fibonacci 0.618 support of the rally between $15.60 and $17.80 respectively. It is hence recommended to remain long for now and also look […]
Gold price continues to trade above the red trend-line support coming from $1,140. The сritical support trendline is held. However, the price is still below the Ichimoku cloud resistance. I believe we will see a break above or below the critical levels soon and Gold price will start a new trend. Gold price has reached […]
Euro Rallies On Latest Greek Deal Morning Report: 07.00 London • This morning, the dollar index continues to retreat after yesterday’s dramatic reversal. • The rally appears to be an exaggerated reaction to the latest news on Greece whereby creditor nations have agreed a deal on their side. The small matter of Greece still having […]
Goldman Sachs hired Zach Pandl as senior economist, marking a return to the investment bank after spending less than three years at Columbia Threadneedle, a source said on Tuesday. He will report to chief economist Jan Hatzius, said the source. Pandl was a senior economist at New York-based Goldman from March 2011 to August 2012. […]
Overview: Gold has been trading downwards. The price tested the level of $1,185.87 in a high volume but with weak price action (weak supply). The price has returned to our trading range but since we got a sign of strength in the background, we may expect bullish momentum again. According to the daily time frame, […]
Technical outlook and chart setups: Silver jumped through the level of $17.20 yesterday before pulling back sharply. The metal is seen to be trading around $16.70 at the moment, looking to resume its rally towards $17.30/40 levels at least. It is hence recommended to remain long with risk around $16.00. Also note that the pair […]
Technical outlook and chart setups: Gold rose through $1,204.00 yesterday before pulling back sharply. The metal is trading around $1,188.00/89.00 now testingt he trend-line support and prepearing to rally through at least $1,215.00. It is hence recommended to remain long for now with risk at $1,168.00. Immediate support is seen at $1,180.00 (interim) followed by […]
Gold price has bounced towards the short-term resistance at $1,200 as expected and got rejected. The price is below $1,190 again as bulls are not strong enough to break above $1,200. Support still holds the level of $1,180, but I do not believe it will last much longer. Time for a plunge towards $1,130-40 is […]
Aussie Surge & Euro Pause Morning Report: 07.00 London • This morning, the US dollar is pulling back significantly for the first time since May 21st as traders book profits ahead of the June Non Farm Payroll numbers. • The dollar pairs are generally pushing higher, with the Australian dollar leading the charge. The AUD/USD […]
Overview: Gold has been trading upwards. As we expected, the price tested the level of $1,202.11 in an ultra high volume (buying climax). The price has broke the level of $1,195.00 (top of our trading range). According to the daily time frame, we can observe demand in an average volume and strong price action. Also, […]
Euro Slips Greek Impasse Morning Report: 07.00 London • This morning, the euro is slipping back after Greek negotiations hit a bigger blockage over the weekend. There were low expectations of a deal being done before June 1st, but many analysts pointed to an agreement at least being reached before default. The pendulum appears to have […]
Technical outlook and chart setups: Silver is trading around the level of $16.70 preparing to rally through the level of $17.00. Please note that the metal bounced off the fibonacci 0.50 levels making a rally between $15.60 and resistance turned support, through the level of $17.70, and around $16.50. Also note that the metal could […]
Technical outlook and chart setups: Gold is trading at the level of $1,190.00 now, after having touched $1,195.00 on the higher side. Please note that the metal had bounced off from fibonacci 0.786 levels of the rally between $1,168.00 and trendline support through the level of $1,230.00. Bulls should be poised to remain in control […]
Gold price remains inside the downward sloping channel and below short-term resistance at $1,200-$1,205. However, bears have not managed to break below support at $1,170 yet. Gold price has been trading within a trading range for more than one month. This has been frustrating, but traders should remain calm and patient. Longer-term view remains bearish. […]
Overview: Gold has been trading sideways around the level of $1,189.00. The short-term trend is neutral. I found strong trading range between the levels of $1,192.00 and $1,183.00. According to the daily time frame, we can observe a very high volume and weak price action. Also, the price is testing our demand trendline (support). Our […]
Technical outlook and chart setups: Silver tested lows around $16.50 yesterday again before pulling back sharply. The metal is trading around the level of $16.80 at the moment, trying to move higher towards fresh highs. Please note that the metal has bounced off its support trendline and also fibonacci 0.50 levels of the rally between […]
The yellow metal managed to close with marginal gains at yesterday’s session. For 2 sessions, the metal managed to close with mild gains after a strong decline on Tuesday. On a weekly basis, the metal lost 1.5% and managed to hold gains on a monthly basis. We expect big moves towards $1,230/$1,243 or $1,143.00 in […]
Gold price remains above the support area of $1,180-85, increasing chances to move towards $1,200. My longer-term view remains bearish. Critical long-term support is seen at $1,130. Red line – support trend line Gold price has held above the red upward sloping trendline from $1,140. Gold is showing signs of a possible bounce towards at […]
Technical outlook and chart setups: Gold triggered stops at $1,180.00 yesterday before pulling back sharply. The metal is trading at the leve; of $1,188.00 at the moment. It tested its trendline support and fibonacci 0.786 levels yesterday. Bulls should remain poised to push prices higher from here on until the metal stays above $1,168.00. It […]
Euro Nips Back After Greek Hopes Morning Report: 07.00 London • This morning, the euro is nipping back slightly after days of steady gains on the back of Greek debt hopes. It seems unlikely a deal can be made by the end of the month, but many institutions are expecting a deal to be done on […]
Overview: Gold has been trading sideways around the level of $1,186.00. The short-term trend is neutral. I found strong trading range between the levels of $1,192.00 and $1,183.00. I am waiting for a clear breakout with strong volume to confirm further direction. Our Fibonacci retracement 50 % at the level of $1,187.00 is on the […]
Gold price is above short-term support at $1,180-85 and we might see an upward pullback towards $1,200. Gold price has been mainly trading within a range of $1,220-$1,180 for some time now. As long as I do not see a weekly close outside of this range, I will remain neutral. Red line = trend line […]
Technical outlook and chart setups: Silver seems to have finally formed bottom around $16.60 before bouncing back. The metal is trading around the level of $16.70 at the moment, bouncing off the trendline support as well. Also note that the past resistance turned support region is also around $16.60/70 levels. It is hence recommended to […]
Technical outlook and chart setups: Gold seems to have finally bottomed out around the level of $1,183.00 yesterday before bouncing back. The metal is currently forming a bullish morning star candlestick pattern on the H4 chart indicating a potential reversal. Also note that the metal has bounced off its support trendline passing through the level […]
The yellow metal is extending losses for 2 consecutive weeks. After a big fall at Tuesday’s session, it was mild gains at the end of yesterday’s session. Stronger USD puts pressure on the metal. Today, data on US unemployment claims and pending home sales are due. We expect positive readings from the US. Greece is […]
Dire Capex Data Sees Aussie Slide Further Morning Report: 07.00 London • This morning, the US dollar is still in the driving seat as it looks set to post another positive session. • The big loser today is the Australian dollar after private Capex data came in well below estimates to send the Aussie skidding lower. […]
Overview: Gold has been trading downwards. As we had expected, the price tested the level of $1,183.51 in a high volume. The short-term trend is beairsh. The price broke the strong support cluster at $1,201.00 and we may expect further bearish direction. We can observe a sign of weakness (SOW) after a breakout of trading […]
Gold price was pushed lower yesterday after the Leading Indicators numbers release and reached the support level of $1,185 by the upward sloping trendline. My longer-term view remains bearish as I believe that the area of $1,130-40 will be tested again once we break out of the trading range of $1,220-$1,175. Red line = trend […]
