Dollar Steady on Hawkish Fed Morning Report: 07.00 London • This morning, the US dollar is steady after solid gains yesterday. These gains came on the back of a potentially hawkish tone from Fed chairperson Yellen. Previously expectations had been mountain over a much later rate hike, but those expectations are now coming closer to previous […]
Technical outlook and chart setups: Silver is trading around $16.77 levels at the moment after having formed lows at $16.65. The metal has bounced off the fibonacci 0.618 levels of the rally between $16.20 and $17.70/80. There is still a potential of a resumption of the rally above $18.40/50. It is hence recommended to remain […]
Technical outlook and chart setups: Gold is trading around $1,190.00 now after it formed a potential higher low at $1,185.00 yesterday. The metal dropped a bit lower than expected yesterday before pulling back higher. Please note that fibonacci 0.618 levels are still held and bulls are expected to rally untill prices stay broadly above $1,180.00 […]
Overview: Gold has been trading downwards. As we had expected, the price tested the level of $1,193.00. 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 range, which signals that […]
Technical outlook and chart setups: Silver is trading around the level of $16.80. It is expected to find support around $16.60/70, which is also the fibonacci 0.618 support of the rally $16.10 and $17.80. Please note that an intermediary support trendline is passing through the same region. It is hence recommended to remain long for […]
Technical outlook and chart setups: Gold is trading around $1,195.00/96.00 at the moment. It is looking for an opportunity to test the level of $1,193.00 soon, which is fibonacci 0.618 support of a rally between $1,168.00 and $1,231.00 as depicted here. Please note that a short-term support trendline is also offering the required support and […]
Euro’s Steady Losses On Greek Exit Fears Morning Report: 07.00 London • This morning, the Euro is on the back foot once again as the situation in Greece seemingly stumbles towards a Euro exit. The Euro is down 0.32% this morning. • Adding to the Euro’s problems is the renewed strength in the US Dollar, with […]
Gold price has broken through the support at $1,200 and bears continued to retain control of the longer-term trend. The weekly chart remains bearish as the price got rejected once again in the area of $1,220-30. Bulls do not seem to be strong enough to reverse the trend just yet. The level of $1,130 is […]
The metal made a 2-day losing streak at yesterday’s session, gained marginally. The yellow metal has been consolidating at 100Dema. The stronger USD hurts the gold bulls. The metal made a double top at $1,224.00 on a weekly closing basis. Weekly resistance is seen at $1,212.00. Fresh buying momentum is likely to arise above the […]
Overview: Gold has been trading sideways around the level of $1,205.00. The price supports cluster around the level of $1,203.00. We can observe supply in a high volume with strong price action in the daily time frame. The short-term trend is neutral. The daily resistance at the level of $1,224.00 held successfully. If the price […]
Technical outlook and chart setups: Silver has bounced off the fibonacci 0.382 support around $16.90 earlier and is seen to be trading at $17.20 at the moment. The metal is poised to stage a rally through at least $17.50/60 before reversing lower. It could complete at the level $16.40/50 before resuming its rally. It is […]
Technical outlook and chart setups: Gold is seen to be trading at $1,208.00 at the moment after pulling back from $1,202.00 earlier. The metal has tested lows twice, and it is expected to rally at least through $1,221.00. Immediate short-term target is seen at $1,213.00. It is hence recommended to hold long positions with risk […]
Gold price has held above the short-term support of $1,200 and is now bouncing above $1,210. The short-term resistance at $1,217-20 will be decisive. However, the weekly chart remains to be trapped between the kijun- and tenknan-sen indicators while the Ichimoku cloud remains above the current price. Gold price is trying to break above the […]
The yellow metal rejected at $1,232.00 100Wema and lost $31.00 by now. The metal has been hovering at $1,200.00 after the mixed US data. The USD has been moving higher from the recent low. It gained renewed strength after the US housing data release. Wednesday’s FOMC meeting showed that the reulator is not going to […]
Dollar Dips as Economy Falters Morning Report: 09.00 London • There were further signs of the US economy stumbling yesterday as existing home sales and the Philly Fed manufacturing index both came in below estimates. The data is poor enough to push the proposed US rate hike further into the future, but not yet so […]
Overview: Gold has been trading sideways around the level of $1,209.00. The price supports cluster around the level of $1,203.00. We can observe supply in a high volume with strong price action in the daily time frame. The short-term trend is neutral. The daily resistance is at the level of $1,224.00 . If the price […]
Technical outlook and chart setups: Silver is trading around the levels of $17.20/22 now after it made a bottom near $16.90 yesterday. The metal is expected to rally through $17.50/60 at least if not higher. There is a possibility that the prices could drop below the level of $16.90 before the trend resumes. It is […]
Technical outlook and chart setups: Gold is seen to be trading around the level of $1,212.00, after testing $1,204.00 yesterday. The metal looks to be set to rally further towards $1,221.00 at least if not higher. A bearish reversal there would indicate that the metal needs to correct below the level of $1,200.00 before resuming […]
Gold price has stopped its decline at the 50% retracement and at the top of the Ichimoku cloud as it was expected. This is a positive sign for bulls as this keeps their chances of seeing a move towards $1,250 alive. My longer-term view remains bearish. The short-term resistance is at $1,217. Support is at […]
Markets Dip as Fed Doubts Emerge Morning Report: 09.00 London • This morning, financial markets are stable after yesterday’s Fed induced sell-off. The minutes of the latest Fed meeting hinted that a rate hike that was anticipated for June may now appear in late 2015, perhaps 2016 as the US economy falters. • The […]
Overview: Gold has been trading downwards since our last analysis. The price tested the level of $1,203.13 in a high volume. We can observe supply in a high volume with strong price action in the daily time frame. The short-term trend is neutral. The daily resistance at the level of $1,224.00 held successfully. If the […]
Gold price has pulled back as expected towards our target area of $1,210-$1,200 yesterday. This bearish reversal from the 50% retracement was a big rejection for bulls. The more price stays below $1,225, the less another move higher towards $1,250 is possible. The longer-term view remains bearish. Gold price has reached the cloud support on […]
Technical outlook and chart setups: Silver dropped to the sub-level of $17.00 as discussed and expected earlier. The metal has bounced off from fibonacci 0.382 support of the rally between $15.60 to $17.70 as depicted here. The metal is expected to produce a counter rally towards at least $17.50/60 if not higher. It is hence […]
Technical outlook and chart setups: Gold dropped to $1,205.00 yesterday. The metal is seen to be trading at the level of $1,208.00 and should be looking to rally until $1,225.00 iat least. It is recommended to initiate long positions with risk at $1,201.00 to take advantage of the counter-trend rally. Immediate support is seen at […]
The strong housing data pushed the commodities like gold and crude to lower levels from the recent highs. The metal closed at the lowest level in a week after the strong US dollar. Today, ahead of the FOMC meeting, the yellow metal is trading at $1,208.50 compared to $1,207.40 Tuesday’s close. The nearest support is […]
Dollar Rallies On Building Data Morning Report: 09.00 London • This morning, the dollar index continues to rally off the lows after strong building permits data. The dollar index is now back above its 14 day moving average for the first time since the beginning of April. • At the same time, the euro […]
Euro Slumps On German Sentiment Morning Report: 09.00 London • This morning, the S&P 500 is breaking to fresh record highs as US policy makers consider a perfect storm for equity markets of delayed interest rate hikes and sustained (if slowing) growth. • At the same time, the dollar index is on the rise […]
Gold price is showing some signs of short-term reversal after being rejected at the 50% Fibonacci retracement. There is increased probability to see a pullback towards $1,210-$1,200 today. There is still some upside potential towards $1,240-50 but traders should focus on the downside. Orange lines=small time frame bullish channel Blue lines = medium-term bullish channel […]
Technical outlook and chart setups: Gold had risen to $1,230.00/31.00 yesterday before it pulled back lower and took stops out at $1,230.50. A pullback is expected towards at least $1,208.00 and the levels of $1,193.00/94.00 (which is also fibonacci 0.618 support of the rally between $1,168.00 and $1,230.00) would be optimum levels to initiate long […]
Technical outlook and chart setups: Silver has dropped lower towards $17.40/50 as seen here. The metal could continue moving lower until the levels of $16.94 at least and subsequently towards $16.50/70 before resuming its rally. It is recommended to hold short positions for now with risk around $18.00. The metal should produce a meaningful retracement […]
