Wave summary: With the break below 118.19 the possible triangle count has been invalidated and instead a complex double zigzag correction now is the preferred count. This count calls for a little more downside into the 116.83 – 116.99 area to complete wave (iv) and setting the stage for a possible new impulsive rally in […]
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The Federal Reserve’s decision to raise interest rates on December 14 should have been the death bell for GOLD, a commodity that is highly sensitive to monetary policy. But something very strange is happening to bullion: not only has it strengthened in the wake of the Fed’s decision, it has done so despite a stronger […]
GOLD has broken out and above the short-term bearish channel as expected and is challenging the $1,263 top. A break above that top is expected as well as a move towards $1,300. Trend is now bullish and important short-term support is found at $1,240. Red lines – bearish channel (broken) Gold has moved above the […]
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Technical outlook: It looks like the EUR/USD pair finally terminated wave (1) at 1.0640 level last Friday, as labelled here. Continuing further, from our review last week, the pair should be producing its counter trend rally any moment and terminate wave (2), as seen above. Please note that the second wave can extend through 1.0800/05 […]
Wave summary: We continue to look for a more upside pressure in wave [v] toward at least 1.5570 and likely even closer to 1.5790 before the first impulsive rally from 1.4495 is complete. Longer-term we continue to look for much more upside closer to 2.0147, so we are only in the early stages of a […]
Wave summary: As long as support at 118.24 is able to protect the downside, we will favor the possible triangle count for a rally towards 122.25 in wave D of the triangle consolidation. Only an unexpected break below support at 118.24 will invalidate the triangle consolidation and call for a little more downside towards 117,00 […]
GOLD price continues to trade below important resistance of $1,250-55 inside a bearish channel. Gold could continue towards $1,240 but overall we remain bullish looking for $1,300-$1,320 over the next couple of weeks. Red lines – bearish channel Short-term resistance is found at $1,252-55 area. Support is at $1,240. If resistance is broken I would […]
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Overview GOLD has showed sideways and tight trading since morning settling below the EMA50. That keeps the bearish trend scenario valid as it is without any change for today, waiting to visit 1,231.13 level mainly. Take into account that stochastic current positivity might cause more sideways fluctuation before resuming the expected bearish bias. Therefore, we […]
Overview Silver managed to reach our first main target at 18.30, showing some bearish bias. Now it is fluctuating around 18.00 barrier. Notice that stochastic gets rid of its negativity to enter the oversold areas now, which supports the chances of resuming the bullish trend in the upcoming sessions. The price needs to breach 18.30 […]
Wave summary: With the test of 1.5203, wave [iv] could be complete for the final rally higher in wave [v] towards 1.5570 and possibly even closer to 1.5790. In the short term a break above minor resistance seen at 1.5347 is needed to confirm that wave [iv] has completed and wave [v] higher is unfolding. […]
Wave summary: There is no change in view here. We are looking for a minor rally in wave D of the expected triangle consolidation. This means a rally towards 122.40 should be seen before a decline in wave E to complete the triangle consolidation for the final rally higher to 126.54. R3: 122.83 R2: 121.84 […]
Gold analysis for March 31, 2017
Post by admin on March 31, 2017
Recently, GOLD has been trading downwards. As I expected, the price tested the level $1,239.70. According to the 30M time frame, I found that the price is trading in well-defined downward channel, which is a sign that buying looks risky. I also found hidden bearish divergence. My advice is to watch for potential selling opportunities. […]
The dollar edged up in Asian trading today, poised for weekly gains after solid U.S. economic data contrasted with figures showing euro zone inflation cooling. The dollar index was up 0.1 percent at 100.50, up 0.9 percent for the week and not far from a two-week high of 100.60 hit overnight. Revised U.S. gross domestic […]
Yesterday GOLD continued the pullback and is trading above $1,240 near the 38% Fibonacci retracement of the latest rise from $1,194 to $1,261. Short-term trend is bearish, but it is expected to reverse soon. Red lines – bearish channel The price has entered the 4-hour Ichimoku cloud. This changing trend will back to neutral in […]
Wave summary: Our expectation of more consolidation in wave [iv] closer to 1.5230 has proved to be correct. As long as minor resistance seen at 1.5347 is able to cap the upside, a final spike lower to 1.52301.5205 still could be seen, but from here or upon a break above 1.5347 renewed strength should be […]
Wave summary: We are not really getting anywhere at the moment. That could imply that the consolidation seen since the wave (iii) high at 124.09 could be a triangle. If this expectation is correct, then more sideways consolidation should be expected before a rally to above 124.09 is seen. This count will also imply that […]
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Global markets were unmoved during late trading on Wednesday after the hawkish tilted minutes from the Federal Reserve failed to convince participants of a March interest rate hike. Although hawkish phrases such as “fairly soon” were used in the statement, it is the ambiguity that continues to leave investors on edge. The Trump uncertainty may […]
Forex News: 23/02/2017 – Dollar mixed after Fed minutes; Aussie down on weak capex
Post by admin on February 23, 2017
Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video
Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…
Good morning, traders, let’s see how the interbank compares to the technicals at 8 AM GMT with the main daily trading signals. First up is the Euro/Dollar with 5 neutral models on both its 1 and 4-hour charts, whereas the 24-hour scale is split between red and neutral studies. Neutral at less than 10% short, […]
You’re watching the Support and Resistance Level Report for Thursday. Here’s how our in-house model tests out today. Euro/Dollar has recovered some ground and now has R1 of 1 0590 and S1 of 1 0560. A 50 day moving average is among the 8 studies for R1, and R2 is a 20 day moving average […]
Technical Analysis – 23/02/2017 – USDJPY neutral in the short- and medium-term
Post by admin on February 23, 2017
Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video
Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…
