Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,297.10 in a high volume. According to the 15M time frame and using the market profile analysis, I found intraday initiative buyers, which is a sign that buyers are in control. The price is trading above the […]
Gold price is moving towards our next targets of $1,300-$1,320. Trend remains bullish since the call I made for an important low at $1,250. Important long-term trend resistance is found at $1,350-60 and I do not expect to see it broken without a pullback first. Blue line – trend line support Gold price has broken […]
Technical outlook and chart setups: Gold has almost hit our first expected target at $1,295.00 levels yesterday. The metal seems to be coming close to termination of the counter trend rally now. A top maybe in place at $1,292.00 already or it is very near to forming a top at $1,304.00 levels. The metal is […]
EUR/USD: The pullback in the USD/CHF has helped this market to rally. The rally took place yesterday and this has led to a bullish signal in the market. Further upwards movement is anticipated, which would push price towards the resistance lines at 1.1100 and 1.1150. A very strong buying pressure may even push price above […]
The index had a strong sell-off during yesterday ahead of FOMC interest rate decision, while it’s trying to find a support at the 97.62 level. If USDX manages to break lower that zone, then we can expect further weakness towards the 97.12 level, where buyers could appear again. However, the risk remains to the downside […]
GBP/USD remained in sideways during Tuesday’s session, as the pair is waiting to get momentum from the FOMC and BoE meeting due this week. At a technical perspective, Cable is still supported by the 1.2229 level, where it converges with the 200 SMA at H1 chart. If the pair manages to break the resistance level […]
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This morning we saw the release of the UK Markit Manufacturing PMI for October, was 54.3, slightly lower than expectations of 54.5, and the previous figure of 55.5. GBPUSD has rebounded with strong bullish momentum, after testing the short term major support line at 1.2150 last Friday. It was helped by the Bank of England […]
Technical outlook and chart setups: Gold had broken above $1,270.00 levels last Friday and print new interim highs at $1,284.00 levels before retracing lower. Furthermore, the metal has formed yet another higher low at $1,272.00 levels yesterday. The metal is trading at $1,283.00 levels for now and should be looking to push higher towards $1,295.00/1,303.00 […]
Since our previous analysis, gold has been trading upwards. The price tested the level of $1,283.16 in a high volume. According to the 15M time frame and using the market profile analysis, I found intraday initiative buyers, which is sign that buyers are in control. The price is trading above the yesterday’s value area and […]
Gold price remains above support and is preparing to break above the recent highs at $1,285. A daily close above $1,280 will help Gold push towards $1,300 and higher. I remain bullish from $1,250. Blue line – support trend line Gold price is trading above the Kumo (cloud) and the blue upward sloping trend line. […]
Since our previous analysis, gold has been trading sideways at the price of $1,272.80. According to the 5M time frame and using the market profile analysis, I found intraday distribution in the background, which is a sign that sellers are in control today. Today’s point of control is set at the price of $1,276.70. Watch […]
Gold price remains in an uptrend as price made a higher high and higher low. Price has reached the lower target of $1,280 on Friday. I’m bullish since $1,250 is calling for a strong bounce towards $1,280-$1,300. A major low could still be in but we can’t confirm that yet. Blue line – support Price […]
Overview Gold price is hovering around the EMA50 and the intraday bullish trend line that appears on the chart. Therefore, there is no change in the overall bullish scenario that depends on the stability above 1249.94 level, while its main targets begin at 1297.74. We remind you that breaching 1249.94 level will extend the bullish […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,265.34. According to the 30M time frame and using the market profile analysis, I found rejection of an extreme swing high at the price of $1,272.00, which is a sign of weakness. I placed FIbonacci expansion to find potential objective […]
Overview Gold price shows slight bullish bias supported by stochastic positivity that appears clearly on the four hours’ time frame, to keep the bullish trend active for the rest of the day, waiting to target 1297.74 level mainly, which breaching it represents the key to extend gold price gains towards 1,375.00. Therefore, we will continue […]
Since our previous analysis gold has been trading downwards. The price tested the level of $1,264.53. The price reached my downward target from yesterday at the price of $1,268.75. According to the 30M time frame and using the market profile analysis, I found rejection of extreme swing low at the price of $1,265.00, which is […]
Gold price pulled back towards short-term support of $1,262 yesterday but still remains above support and above recent low at $1,260. I expect Gold price to push upwards from the current levels towards $1,280-$1,300. Gold price has pulled back towards the Ichimoku cloud on the 4-hour chart. Resistance is found at $1,268-70. Support is at […]
Overview: The USD/CHF pair reached a new maximum. Today price may reach one more maximum at level of 0.9943 and then start new correction towards the level of 0.9910 (at least). We expect the USD/CHF pair to continue moving in a bullish trend from the support levels of 0.9910 and 0.9900. Currently, the price is […]
It appears CAD/JPY changed the direction from an uptrend to a downtrend after breaking both 200- and 50-Moving averages and at the same time the ascending channel. Fibonacci applied to the channel breakout point shows that the pair broke below the 23.6% level opening the doors for another wave down towards the next Fibs support. […]
After breaking both 200- and 50-Moving Averages, GBP/CAD could now continue rising furhter. After breaking MAs, the pair found the support first on 200MA and then on 50MA. Consider buying GBP/CAD, while the pair is near the upward trend line (1.6360) targeting 161.8% Fibs (1.6510) applied to the last corrective wave down, where price rejected […]
CAD/CHF found the top at 0.7600 and started to decline sharply. The pair broke below both 200- and 50-Moving Averages, while at the same time breaking below the uptrend trend line. It this setup a trend appears to become bearish, so price is likely to continue moving lower. Consider selling CAD/CHF while price is near […]
EUR/CAD found the bottom near 1.4300 and sharply started moving higher. The pair broke above both 50- and 200-Moving Averages and on the corrective wave rejected first 200 MA and then 50 MA. Overall, it looks like the EUR/CAD trend is changing to anuptrend. Consider buying EUR/CAD while price is near the upward trend line […]
When the European market opens, some economic data will be released such as Private Loans y/y, M3 Money Supply y/y, and Spanish Unemployment Rate. The US will release a batch of reports such as Natural Gas Storage, Pending Home Sales m/m, Durable Goods Orders m/m, Unemployment Claims, and Core Durable Goods Orders m/m. So amid […]
Technical outlook and chart setups: Gold has now retraced towards $1,265.00 level as expected and discussed earlier and should resume the rally. The metal is trading at $1,265.00 level for now and should be looking to push higher towards $1,286.00/1303.00 levels from here. Also note that it is bouncing off the interim trend line support […]
The index had a bearish day on Wednesday and it’s being supported by the 98.53 level. Around that zone, USDX may gain some momentum in order to rally towards the 99.19 level. If we see a breakout higher there, then a rally to the 99.70 level is highly expected, while a downside continuation can drive […]
The pair managed to recover some of the lost ground during Tuesday and we’re seeing that the 200 SMA could act as dynamic resistance across the board. However, if the bullish momentum remains alive, we can expect a rally towards the 1.2310 level, but that scenario is unlikely, as today crucial data from the UK […]
Since our previous analysis, gold has been trading sideways around the price of $1,271.00. According to the 30M time frame and using the market profile analysis, I found rejection of extreme swing high at the price of $1,276.30 from yesterday, which is sign of weakness. Watch for selling opportunities on the pullbacks. First downward target […]
Technical outlook and chart setups: Gold has rallied and print yet another high at $1,276.00/77.00 levels as seen here. The metal is trading at $1,271.00 levels for now and should be looking to push higher towards $1,280.00/1300.00 levels from here. A corrective drop towards $1,266.00 levels is possible, though before pushing higher. Please note that […]
USD/JPY is expected to trade with bullish bias. From a technical view, the pair pulled back yesterday from its recent top at 104.90, and is now testing the nearest support at 103.75. The 20-period moving average is now turning down, calling for caution. As long as 103.75 holds on the downside, look for a new […]
