When the European market opens, no economic data will be released. However, the US will release some statistics such as Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move in low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1248. Strong […]
In Asia, today Japan will not release any economic data. However, the US will present some statistics such as Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 102.47. […]
US Dollar gained a strong bullish momentum last Friday, as from the Jackson Hole event there were some hints about a further rate hike by Fed. Currently, the USDX is consolidating gains above the support level of 95.49 and it’s looking to reach the resistance zone of 95.79. A breakout above it should expose the […]
GBP/USD retraced from the highs posted around the 1.3258 resistance level and now we’re seeing a consolidation ongoing below the 200 SMA on H1 chart. The nearest support is located at the 1.3085 zone, where a rebound is expected to favour the corrective phase after that decline happened on Friday’s session. With a breakout above […]
EUR/USD: This currency trading instrument found it difficult to go above the resistance line at 1.1350. Price fell sharply on Friday, causing a formidable threat to the ongoing bullish bias. A movement below the support line at 1.1100 would result in a Bearish Confirmation Pattern in the market. A movement above the resistance line at […]
Since our previous analysis, Gold has been trading upwards. The price tested the level of $1,328.23 in a high volume. According to the 4H time frame, I found a broken trading range. Anyway, there are two options in my opinion on the gold. The first option is that Gold may reject from strong resistance cluster […]
George Soros, the man who “broke the Bank of England,”[1] recently made a killing in gold-mining shares before promptly cutting his ties to the yellow metal at the end of the second quarter. In the first quarter, Soros Fund Management LLC. took a $263.7 million stake in Barrick Gold Corporation, the world’s largest gold mining […]
Gold price is testing the $1,310 support and is in a short-term downtrend. Price is expected to continue lower towards $1,280 but first we could see a bounce towards $1,330-35 where a shorting opportunity will arise. Red lines – bearish channel Green rectangle – support area Gold price is trading inside the bearish red channel […]
General overview for 26/08/2016: A three-wave internal corrective cycle has been made. The low for this cycle is the intraday support at the level of 1.2857. Currently, if the count is correct, the market should impulsively move to the upside, violate the intraday resistance at the level of 1.2963 and rally towards the level of […]
General overview for 26/08/2016: It is almost clear that the current wave development is a form of a complex corrective cycle and as long as the low volatility trading period continues, the horizontal corrective cycle is still in progress. Nevertheless, bears have managed to break out slightly below the golden trend line support, but the […]
Technical outlook and chart setups: Gold looks to have formed intermediary bottom at $1,318.00 levels yesterday and is seen to be trading at $1,324.00 levels at this moment. Please note that the yellow metal still looks to be constructive for bulls to regain control, till prices stay above $1,310.00 levels, which is the wave a […]
EUR/USD: On this currency trading instrument, there are mixed signals. The Williams’ % Range period 20 is inot far from the oversold region while the EMA 11 is above the EMA 56. It is most likely that the Williams’ % Range would slope upwards to agree with the positions of the EMAs, forming a clean […]
When the European market opens, some economic data will be released such as Italian 10-y Bond Auction, Private Loans y/y, M3 Money Supply y/y, GfK German Consumer Climate.The US will release the economic data too such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Fed Chair Yellen Speaks, Prelim GDP Price Index q/q, Goods […]
In Asia, Japan will release the BOJ Core CPI y/y, National Core CPI y/y, Tokyo Core CPI y/y and the US will release some economic data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Fed Chair Yellen Speaks, Prelim GDP Price Index q/q, Goods Trade Balance, Prelim GDP q/q. So there is a […]
Thursday’s session for USDX was pretty calm in terms of price action, as the index remains below the 200 SMA at H1 chart. A support can be seen around the 94.65 level, where a breakout can deliver a bearish momentum towards the 94.32 level. However, a rebound shall not be discarded and eventually it can […]
The pair found resistance at the 1.3258 level and now it’s expected to remain in sideways ahead of Jackson Hole due today. Currently, GBP/USD is supported by the 1.3170 price zone, which is very close to the 200 SMA. Now, we could expect a rally towards the 1.3258 level, where a breakout should happen in […]
Since our previous analysis, Gold has been trading downward. The price tested the level of $1,322.45 in an high volume. According to the 4H time frame, I found a broken trading range. The price broke the support at the level of $1,329.50 in a high volume, which is a sign that buying looks risky. My […]
Technical outlook and chart setups: The GBP/CHF pair pushed higher towards 1.2840 levels before reversing lower again as depicted on the chart view here. Please also note that the pair has found resistance at fibonacci 0.618 level of the drop between 1.3000 and 1.2425 respectively. The wave structure remains unchanged and is indicating that the […]
Technical outlook and chart setups: The EURJPY pair is seen to be consolidating at the moment, looks to be in its wave 4 of the 5 wave’s decline that resumed from 118.45 levels earlier. Please note that the pair has reversed lower from 114.00/10 levels as expected yesterday which is also fibonacci 0.382 resistance of […]
Technical outlook and chart setups: Gold has indeed dropped lower below $1,330.00 level, taking out stops yesterday. Please note that the yellow metal still looks to be constructive for bulls to regain control, till prices stay above $1,310.00 level, which is the wave’s low within the triangle structure. The wave structure continues to indicate that […]
Bullish persistence above 0.6550 (the depicted support) was necessary to keep the price moving towards higher bullish targets. In February and March, signs of bearish rejection (triple-top reversal pattern) were expressed around the price level of 0.6750 until April when a bullish breakout above 0.6750 and 0.6860 was executed. Later on May 6, daily candlestick […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570, which had been previously reached in […]
Yesterday, we saw a mild rebound with the USD against other major currencies. Overall the US dollar is moving in a range and all investors are awaiting the Fed Chairman Yellen’s speech tomorrow. While the Jackson Hole Economic Symposium, beginning today at 1400GMT, will likely dominate the headlines as a ‘who’s who’ of Global Central Bankers gather […]
Gold price has broken through $1,330 yesterday confirming our bearish view after the backtest of the broken triangle. I have been warning bulls since the start of the week that things are not bullish for Gold and a decline towards $1,280 is very possible. However, we need to break below $1,310 first. Blue lines – […]
USD/JPY is expected to trade with a bearish bias as key resistance is at 100.65. Despite the recent technical rebounds, the pair remains under pressure below its key resistance at 100.65. The relative strength index lacks strong upward momentum, calling for caution. On the economic front, the U.S. Commerce Department reported that new home sales […]
Since our previous analysis, Gold has been trading sideways at the price of $1,337.00. According to the 4H time frame, I found trading range between the price of $1,330.00 (support) and the price of $1,357.60 (resistance). The price action suggests that buyers protected the support (pin bars from the support). I also found bullish outside […]
Gold price as expected bounced towards the lower triangle boundary and got rejected. This backtest is complete and the downtrend should resume soon. I assume the short-term bearish scenario for Gold targeting $1,280. Blue lines – triangle pattern Red line – long-term support Price is still below the Ichimoku cloud in the 4 hour chart. […]
Technical outlook and chart setups: Gold is seen to be trading higher at $1,338.00 levels after printing fresh lows at $1,331.00 levels earlier. Please note that the yellow still looks to be constructive for bulls to regain control, till prices stay above $1,330.00 levels. The wave structure continues to indicate that the metal seems to […]
When the European market opens, some economic data will be released such as Belgian NBB Business Climate, German Final GDP q/q.The US will release the economic data too such as Crude Oil Inventories, Existing Home Sales, HPI m/m, so amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S […]
