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Daily analysis of Gold for August 02, 2017

Overview GOLD price shows some slight bearish bias by today’s opening on its way for new retest process to the previously breached neckline of the inverted head and shoulders’ pattern that appears on the chart before resuming the main bullish trend again. In general, the bullish trend still active on the intraday and short term […]

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Analysis of Gold for August 02, 2017

Recently, the GOLD has been trading upwards. The price tested the level of $1,274.10. According to the 4H time frame, I found 20-day upward channel. The price successfully tested the lower diagonal of our channel, which is a sign that selling looks risky. Buyers are in control and the short-term trend is bullish. My advice […]

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Technical analysis of gold for August 2, 2017

GOLD price made a new high yesterday but prices soon after pulled back inside near the lows of the day just above $1,262. The trend remains bullish but maybe it is time for a pull back. Our short-term minimum target has been achieved. For gold to break above $1,300 we will need a pull back […]

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Technical analysis of gold for August 1, 2017

GOLD price remains in a bullish trend. In the short-term price is moving sideways in a tight range between $1,271 and $1,265. There are more chances for an upward break out and an extended to move higher towards $1,295-$1,310. Short-term support by the kijun-sen (yellow line indicator) is found at $1,257. Cloud support on the […]

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Daily analysis of Gold for July 31, 2017

Overview GOLD price resumed its positive trading affected by the previously completed inverted head and shoulders’ pattern, and the price gets continuous positive support by the EMA50, reinforcing the expectations of continuing the bullish trend on the short term basis, as our next target is located at 1295.37, while the full target of the mentioned […]

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Technical analysis of gold for July 31, 2017

The GOLD price continues to make higher highs and higher lows above our minimum target of $1,260. The trend remains bullish. A reversal from current levels is justified. Even a pull back towards $1,240. Blue line- trend line support The Gold price is trading above both the tenkan- and kijun-sen indicators. Short-term support by the […]

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Global macro overview for 31/07/2017

Global macro overview for 31/07/2017: This week looks very busy on the financial markets, so let’s take a look at the most important economic events for the coming days: NFP Payrolls, PMI/ISM, US PCE Core, Eurozine CPI, Bank of England, RBA and job market from Canada and New Zealand. Many of the next week’s US […]

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Daily analysis of Gold for July 28, 2017

Overview The GOLD price is retesting the previously breached neckline of the inverted head and shoulders’ pattern that appears on the above chart keeping its stability above it, to keep the positive effect of this pattern active, and the price gets positive support by the EMA50, while stochastic gets rid of its negative momentum gradually. […]

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Technical analysis of gold for July 28, 2017

The GOLD price made a new higher high yesterday and remains in a bullish trend. The Gold price is breaking above the $1,250-60 resistance area and is heading towards the long-term resistance at $1,280-90. The Gold price is trading above both the tenkan- and kijun-sen. There are initial signs of a bearish divergence but the […]

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Burning forecast: US GDP at 13.30 London time

Burning forecast: US GDP at 13.30 BST US GDP (change in %% APR). The forecast is + 2.6%. The previous value is + 1.4%. The range of forecasts is +2.2 + 3.2% GDP inflation (deflator). The forecast is + 1.2%. Prev + 1.9%. Why is it important? GDP is the main integral indicator of the […]

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Trading plan for 07/28/2017

Trading plan for July 28, 2017 Overall picture: The trend against the dollar stopped. Markets are defined by direction. On Thursday, important events took place on the market. Unexpectedly, the report on orders for durable goods in the US came very strong, much better than forecasts. The growth of total orders is + 16% to […]

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Trading plan for 28/07/2017

Trading plan for 28/07/2017: On Friday 28th of July, the event calendar is busy with important economic releases. At the beginning of the London session, France will present the Preliminary GDP, Consumer Spending, and Consumer Price Index data. After that Spain will post its GDP and Consumer Price Index data as well. Switzerland will post […]

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USD, GOLD & Interest Rates: A Triangle to Watch Out For

If you spend enough time observing the market you will realize that action and reaction cause most of market movements. If you take a closer look you will see that three names seem to always appear close to each other when you read your daily market news. The US dollar, better known to traders as […]

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Technical analysis of gold for July 27, 2017

The GOLD price reversed from $1,247 support area and made a new higher high above $1,260. Our minimum target since $1,205 has been reached. A break below $1,245 confirms the upward move is complete and correction will have started. Red rectangle – support Blue trend line – support The Gold price remains in a bullish […]

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Daily analysis of major pairs for July 27, 2017

EUR/USD: The EUR/USD has again, set out riding northwards this week, just as it did last week. The price has gained roughly 100 pips, and it is now testing the resistance line at 1.1750 (which was briefly breached yesterday). The current price action indicates further bullish movement. USD/CHF: A sudden weakness in CHF caused a […]

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What did the Fed decide? (Commentary to the Fed's decision of July 26, 2017)

What did the Fed decide? (Commentary to the Federal Reserve’s decision of July 26, 2017) While maintaining the base interest rate in the target range of 1.00% -1.25%, the Federal Open Market Committee of the US Federal Reserve commented on its decision and the current economic condition in the country: The Fed noted the continued […]

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The gold is caged

Having completed the week ending July 21 with the best results for the last two months, GOLD began to retreat amid rising yields on Treasury bonds and positive statistics on business activity and consumer confidence in the US. This recent successes are connected to the deteriorating political landscape in the United States, the fall of […]

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Technical analysis of gold for July 26, 2017

The GOLD price got rejected just below the $1,260 level yesterday and has pulled back towards $1,245. Support is critical now at $1,243-$1,237 and if this level is broken we should expect a move at least towards $1,227. Red rectangle – support area Blue trend line – support The Gold price remains in a bullish […]

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Daily analysis of gold for July 25, 2017

Overview GOLD price managed to close the daily candlestick above $1,254.56 level which is a positive factor that supports extending the bullish wave in the upcoming period. Besides, the stochastic reached the oversold areas’ thresholds, waiting to motivate the price to continue rising today. Therefore, these factors encourage us to continue suggesting the bullish trend […]

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Daily analysis of GBP/JPY for July 25, 2017

Overview The GBP/JPY pair remains affected by downward pressure, while supported by the stability of the main resistance at 147.63. Formation of initial resistance at 145.35 levels increases the possibility of a new negative attack. The nearest target is settled at 143.50 and it is likely to face the moving average 55; and a break […]

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Technical analysis of gold for July 25, 2017

The GOLD price is consolidating near its highs. It is very possible that we might see a move above $1,260 soon for a final new high of this move that started at $1,205. Gold bulls must be very cautious as a pull back is justified from current levels. Blue lines – bullish channel The Gold […]

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The Aussie got off to the favorites

Since the beginning of the year, the Australian dollar has gained more than 10% relative to the U.S. dollar and is fighting for first place with the Euro on the list of the G10 best performers. Firmly high appetite for risk, low volatility in financial markets, increased activity of carry traders, recovery of iron ore […]

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Technical analysis of gold for July 21, 2017

GOLD price held the $1,235 support yesterday and has broken to new short-term highs. Price is trading just below $1,250 and our target of $1,260 is very close. Trend is bullish. Gold price is trading above both the tenkan- and kijun-sen indicators. Trend is bullish in the 4 hour chart. Price held above short-term support […]

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Trading plan for 21/07/2017

Trading plan for 21/07/2017: Lower volatility was noted during the Asian session. EUR/USD remains in a narrow daily range just below yesterday’s long-term highs and is currently at 1.1635. GBP/USD is testing a strong resistance at 1.300 level. USD/JPY after yesterday’s decrease to 111.50 fights back over 112.00 level. The S&P500 index reached yesterday historically […]

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Daily analysis of Gold for July 20, 2017

Overview GOLD price has settled around 1,240.00 level, and the price might be forced to show more sideways fluctuation until stochastic manages to get rid of its negativity and gain enough positive momentum to continue the bullish trend. The bullish scenario is still valid and active as long as the price is holding above 1,229.32. […]

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Technical analysis of gold for July 20, 2017

GOLD price has stopped its rise at the short-term resistance level of $1,245. Gold price might pull back even further towards $1,230 if $1,235 is broken but overall I remain bullish looking for a move towards $1,260 at least. Gold price is trading above the 4-hour Kumo (cloud) and the kijun-sen indicator (now at $1,229). […]

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Gold Deceived Speculators

Moderately pigeon rhetoric Janet Yellen, disappointing statistics on US inflation and retail sales, which is the first time since 2010, China’s GDP growth of 6.9% in the second quarter and the closure of short positions were the main factors of the GOLD futures rebound from support level at $ 1205 per ounce. The key driver […]

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Technical analysis of gold for July 19, 2017

GOLD price made new highs yesterday. Short-term trend is bullish. We could see a pullback towards $1,230 but overall I’m expecting a move towards $1,260 at least. Blue lines – bearish channel Gold price is trading above the 4-hour Kumo (cloud). Support is at $1,230. Resistance is at $1,250-60. Gold price could see $1,230 if […]

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Technical analysis of gold for July 18, 2017

The GOLD price is in a short-term bullish trend targeting $1,260. Today we may see a pull back towards $1,230 but I believe this will only be a back test of the breakout. I remain short- and long-term bullish. Blue lines – bearish channel The Gold price has broken out of the bearish channel and […]

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Trading plan for 18/07/2017

Trading plan for 18/07/2017: The US Dollar is heavily oversold after the dismantling of the Obamacare system in the US. EUR/USD spiked through 1.1500 level and USD/JPY tested 112.00 level. The strongest currency in the Asian trading session is the AUD, which has gained almost 1.5% after the RBA Meeting Minutes release. On Tuesday 18th […]

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