In Asia, Japan will not release any economic data but the US will release some economic data such as Crude Oil Inventories, Existing Home Sales, HPI m/m.So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 100.84. Resistance. 2: 100.64. Resistance. 1: 100.45. […]
EUR/USD: There is a Bullish Confirmation Pattern in the EUR/USD 4-hour chart. The EMA 11 is above the EMA 56 and the William’s % Range period 20 is trying to slope downwards, in conjunction with the shallow bearish correction that happened yesterday. This is nothing but another opportunity to go long in this market. USD/CHF: […]
Since our previous analysis, Gold has been trading sideways at the price of $1,342.00. 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 suggesting that buyers protected the support (pin bars from the support). So, I am expecting testing […]
On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where […]
Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5438 in a high volume. My first downward target at the price of 1.5490 has been reached. According to the 4H time frame I am expecting further downward continuation due to strong weakness in the background. Next downward station is […]
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 […]
Gold price bounced off the 61.8% Fibonacci retracement and is back testing the broken triangle area at $1,340-50. I believe this is a backtest and price will reverse downwards towards $1,300 over the coming days. Blue lines – triangle pattern Red line-long-term support Gold price held support at $1,330 where the 61.8% Fibonacci retracement is […]
The People’s Bank of China (PBOC) has received approval from the World Bank allowing its’ issuance of bonds which are denominated in Special Drawing Rights (SDRs). The World Bank is the first entity to approve of it and consequently marks the launch of the SDR bond market of the worlds’ second-largest economy. Jim Yong Kim, The World […]
Overview The gold price has begun today’s trading with clear negativity and has broken the symmetrical triangle’s support shown on the chart, which puts the price under negative pressure that we expect to push trading to visit the key support levels between 1,310.65 and 1,297.75 before any new attempt to resume the main bullish trend. […]
After 306 events, 28 sports, 11,551 athletes and thousands of medals awarded, the 2016 Olympic Games in Rio have come to a close. The games made famous for handing out gold, silver and bronze medals to its top performers will sunset for another two years, when the winter athletes descend on Pyeongchang, South Korea. But […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,331.56 in a high volume. According to the 30M time frame, I found that Gold is in a strong downward bias. I found a resistance cluster at the price of $1,337.45. The price respected this resistance and created up-thrust, which […]
Technical outlook and chart setups: Gold dropped lower on Friday and has also made fresh lows today around $1,331.00 levels today, before pulling back higher. The metal has exceeded its drop more than our expectations but still keeps the wave structure bullish till prices stay above $1,330.00 level. Looking into the wave structure, the metal […]
Gold price is trading above the 61.8% Fibonacci retracement of the rise from $1,310. This is a short-term support that if broken combined with the triangle breakdown we should see some acceleration lower towards $1,310. Blue lines -triangle pattern Red line – long-term support Price is below the Ichimoku cloud in the 4 hour chart […]
The economic calendar is very thin today, and this week in general. Focus will shift on Fed Chairwoman’s Janet Yellen’s speech on Friday. Overnight, the USD index gained as yet another Fed member (Stanley Fischer) reiterated that interest rates might increase this year after New York Fed president William Dudley, warned last yet that the […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,344.48 in an ultra high volume. According to the 1H time frame, I found that Gold is in a bearish corrective phase. I have placed Fibonacci expansion levels to find a potential end of the bearish corrective phase. I got […]
Technical outlook and chart setups: Gold is seen to be trading at $1,347.00 levels at the moment, looking to stage a rally from here towards $1,368.00 levels at least. Looking into the wave structure, the metal seems to have terminated its wave 4 triangle consolidation at $1,336.00 levels earlier. The metal should remain in control […]
When the European market opens, German PPI m/m will be released. The US will not release any economic data. So amid this data report, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1400. Strong Resistance:1.1393. Original Resistance: 1.1382. Inner Sell Area: 1.1371. Target Inner Area: […]
In Asia, Japan will release the All Industries Activity m/m but today the US will not release any economic data.So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 100.83. Resistance. 2: 100.63. Resistance. 1: 100.43. Support. 1: 100.19. Support. 2: 100.00. Support. […]
USDX keeps weakening across the board and now it’s finding support at the 94.07 level, where a rebound should happen. The main scenario is calling for a corrective move, as the decline has been showing very mature and lower time frames are showing some signs of an oversold market. MACD indicator is still in the […]
The pair is performing a consolidation above the 200 SMA at H1 chart. Currently, a resistance can be found at the 1.3170 level, where the bulls are attempting to break higher towards the 1.3277 level. However, a pullback should happen to correct the overall trend. MACD indicator is into the negative territory. H1 chart’s resistance […]
EUR/USD: This pair has moved upwards by 200 pips this week, with a clean Bullish Confirmation Pattern in the chart. The EMA 11 is above the EMA 56, and the Williams’ % Range period 20 often hovers around the overbought region. There is a strong bullish signal in the market and price is supposed to […]
Gold price is trapped inside a long-term triangle pattern that will either give the price a push higher towards $1,430 or a decline towards $1,280. Trend is neutral, and traders should be patient and sell near resistance or buy near support. Short-term resistance is at $1,360 and support at $1,340. Traders are recommended to buy […]
Since our previous analysis, gold has been trading upwards. The price tested the level of $1,355.89 in a high volume. According to the 1H time frame, the price rejected from my downward target at the level of $1,335.95. I found a massive volume and strong rejection from the level of $1,335.95. Today, I found successful […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,340.65 in a high volume. According to the 30M time frame, there is an intraday downward trend. I found potential ending of ABC corrective phase, which is a sign that buying looks risky. Strong resistance level is set at the […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,353.07 in a high volume. According to the 30M time frame, there is an upward trend and successful testing of supply, which is a sign that selling looks risky. According to the 5M time frame, I found […]
Global macro overview for 16/08/2016: The Japanese Nominal Gross Domestic Product slowed down in April-June period according to the data released yesterday. On a quarterly basis, GDP advanced 0.2%, which was in line with expectations, but way below the 0.8% q/q increase for the last three months of the year. On an annualized basis, GDP […]
General overview for 16/08/2016: The market has tested the intraday support at the level of 112.31 and bounced from there, but it wasn’t strong enough to break out above the dashed channel line. The invalidation level for this scenario is still at the intraday support at the level of 112.31, nevertheless the bullish divergence between […]
General overview for 16/08/2016: The golden trend line has been violated and now the market is trading below the intraday resistance at the level of 1.2859 as wave iii is developing lower. Nevertheless, it looks like this might be a short-lived drop as the corrective wave iv is due later and the weekly pivot support […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,333.19. According to the 30M time frame, I found that strength came in at the bottom. There is a test of supply in a low volume, which is a sign that selling Gold at this stage looks risky. The price […]
Global macro overview for 15/08/2016: Just last week Saudi Arabia signaled that it is ready to discuss ways of stabilizing the markets at informal OPEC talks next month. This statement alone made the crude oil to rally. In August oil has rebounded over 11%. Nevertheless, we need to note, that all OPEC countries and their […]
