The spot price for gold is up 4.06% from 1313.77 on 26th July to 1367.16 on 2nd August, a three week high. There have been several factors providing a lift for gold prices. Firstly, the recent weakening of the dollar gives rise to the increase of gold prices. Last Wednesday, the Fed kept rates unchanged […]
The spot price for gold is up 4.06% from 1313.77 on 26th July to 1367.16 on 2nd August, a three week high. There have been several factors providing a lift for gold prices. Firstly, the recent weakening of the dollar gives rise to the increase of gold prices. Last Wednesday, the Fed kept rates unchanged […]
Gold price has broken through resistance and is testing previous highs at $1,375 with increased chances of a new higher high towards $1,400. However Gold bulls should be very cautious as we observe bearish divergence signs. Red line – support Gold price is making higher highs and higher lows. The reversal I was expecting is […]
The market has been very busy selling Dollars yesterday. With the exception of the Canadian Dollar which dropped significantly due to its correlation with oil prices, all majors gained significantly versus the American currency. Catalyst for the move continues to be last Fridays poor GDP Report which basically means that the market is reevaluating its […]
Elliott Wave Theory was developed by its namesake R.N. Elliot. The wave concept is based on the emotion of market participants which generates a natural ebb and flow what forms waves. The theory is based on how emotion handles fear and greed when markets move. Elliot described price changes in the financial markets. He described […]
Technical outlook and chart setups: Gold had hit yet another intraday high at $1,367.00/68.00 levels yesterday and it should be looking to pullback/reverse from here, but it needs to break below $1,360.00 levels to confirm. Please note that the metal is trading around $1,364.00/65.00 levels at this moment, having carved out a lower high at […]
When the European market opens, some Economic Data will be released such as Retail Sales m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI.The US will release the economic data too such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, ADP Non-Farm Employment Change, […]
In Asia, Japan will release the Monetary Policy Meeting Minutes and the US will release some Economic Data such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, ADP Non-Farm Employment Change.So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 101.73. […]
At H1 chart, USDX is looking to find support after a sharp decline below the key level of 95.50 and now, we can expect a corrective rebound. However, a breakout below the support zone of 95.02 should open the doors to test the 94.73 price zone. In another scenario, the corrective phase should be extended […]
The bulls are still dominating the major pairs as the weakness on the US Dollar remains very strong, following the bad data from the United States last week. A resistance can be found at the 1.3375 level, where a breakout should happen to trigger more bullish force towards the 1.3467 level. MACD indicator is reaching […]
Overview The gold price trades with calm positivity in attempt to approach gradually from our first main target at 1,375.00. The price gets continuous positive support to achieve gains in the upcoming period. In general, the positive scenario will remain valid as long as the price is above 1,312.00 and 1,297.75 levels. A break of […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the $1,363.90 level in a high volume. According to the 1H time frame, I have found that price broke consolidation trading range and did successful test of support after the breakout, which is a sign that Gold may continue higher. […]
Technical outlook and chart setups: Gold has hit yet another intraday high at $1,360.00/61.00 levels today and it should be looking to pullback/reverse from here on. Please note that the metal is trading around $1,359.00/50.00 levels at this moment, having carved out a lower high at $1,360.00. Please note that the metal has now tested […]
Gold price is consolidating near its recent highs around $1,350. Short-term support is held and the trend is bullish as long as price is above $1,345. A new high is not ruled out as long as price is holding above $1,345-50. However I believe it is more probable to see a bearish reversal. Blue line […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the $1,354.82 level in a high volume. According to the 1H time frame, I have found solid support at $1,346.20. There is a weak supply at this support, which is indication that sellers don’t have enough power for larger correction. […]
Gold price pushed above $1,350 on Friday after the weak GDP numbers announced for the US economy. With Dollar weakening, Gold price spiked above short-term resistance and reached $1,356. Despite being technically bullish, Gold price has completed a 3-wave upward correction that reached the 61.8% Fibonacci retracement of the entire decline. Red line -trend line […]
Technical outlook and chart setups: Gold had completed rally through $1,350.00/55.00 levels as expected and discussed on Friday .The yellow metal had made highs at $1,356.00 levels before pulling back lower again. Please note that the metal is trading around $1,349.00/50.00 levels at this moment, looking to drop lower from here. It is still possible […]
We are bullish on USDJPY. Price has bounced off our channel support really well. 101.80 is a key Fibonacci retracement level which is in line with our channel support. 104.00 is our take profit level because it’s the 50% Fibonacci retracement and graphical pullback resistance. RSI displays bullish divergence vs price signalling a bullish recovery. […]
1.1235 is the golden ratio Fibonacci retracement from the high of 24th June, 2016. It is also a 1.0 Fibonacci projection as seen by the brown arrows. This is a key resistance level for us to sell off. 1.1075 is our first profit target because it is a graphical support + 50% Fibonacci retracement level. […]
When the European market opens, some Economic Data will be released such as Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI.The US will release the economic data too such as Loan Officer Survey, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, so […]
In Asia, Japan will release the Final Manufacturing PMI and the US will publish some Economic Data such as Loan Officer Survey, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI.So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: […]
EUR/USD: This pair trended upward strongly last week, making that week see greater volatility on major pairs; unlike what happened between July 18 to 21. Price has gone upwards by 230 pips, closing above the support line at 1.1150. There is a Bullish Confirmation Pattern in the market and price is supposed to continue moving […]
Overview The gold price settles above the EMA50 and above the bullish trend line keeping the bullish trend active for the upcoming period. Stochastic’ attempts to get rid of its negativity and gain positive momentum on the intraday time frames support the chances of rise continuation on the intraday and short-term bases. Therefore, we believe […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,345.39 in a high volume. According to the 4H time frame, I have found solid support at the price of $1,333.00. I found sign of strength from the support level, which is an indicator that selling looks […]
Gold price is showing signs of reversal from our target area of $1,350. Bears need to break below $1,320 for the bearish scenario to play out. Expecting Gold to push lower towards $1,250-70. Red line -support trend line Gold price is trading above the Ichimoku cloud. Short-term support is at $1,328 and resistance is at […]
Technical outlook and chart setups: Gold is seen to be trading at $1,338.00/39.00 levels at this moment, looking to push higher. Please note that the metal broke out of the tight consolidation range and hit highs at $1,345.00 levels. The yellow metal is seen to be in its last leg rally towards $1,350.00/60.00 levels. The […]
Price has been moving up towards our take profit target. We remain bullish with increased conviction as price touched our entry area perfectly and shot up from there. We keep our bullish bias as we can see how the RSI (34) is holding really well above our 50% support and above the ascending support line. […]
We are seeing fractal support at 0.7350 (strong graphical support + fibonacci retracement + fibonacci projection) and it lines up well with the bounce we’re seeing on our stochastics. This gives us a good conviction of price making a rise to 0.7430. We keep a tight stop loss of 0.7300 so we don’t risk too […]
Overview The gold price traded with strong positivity yesterday moving away from the bullish trend line after a successful breach of 1,325.00 levels. This supports our bullish expectations on the intraday and short-term bases; and the way to our first main target at 1,375.00 is open. A breach of this level will extend the gold […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,342.00 in a high volume. The price reached second target at the level of $1,334.70. According to the 4H time frame, there is a still strong upward pressure on the market. Price is heading to test third […]
