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Gold awaits US employment data
Gold awaits US employment data
The gold price is under further pressure today after being hammered over the last week and as we mentioned yesterday, any sustained break down through the $1,250 level may see a further decline to around $1,200. The catalyst for this may the release of the nonfarm payrolls figure, unemployment rate ...
0
GBP/USD Bullish Momentum aims for 1.3563 as the First Target
GBP/USD Bullish Momentum aims for 1.3563 as the First Target
The GBP/USD is enjoying positive momentum, and bullish trend after Foster negotiated border issue with UK PM May through the early hours. It looks like the GBP/USD is aiming for the 1.3550-63 zone. Close above 1.3565 is needed for the continuation of the bullish trend towards 1.3640. Don't forget th...
0
Next week spells danger for gold
Next week spells danger for gold
What started out as a promising double bottom for gold has quickly gone sour and now we can see a double top has formed and a bearish one at that. It seems that investors were reluctant to push the precious metal through the $1,300 mark just a week ago and since then gold has tumbled to around $1,25...
0
GOLD Retest of Cont. SHS Bearish Pattern is Possible
GOLD Retest of Cont. SHS Bearish Pattern is Possible
Gold might be going through a revaluation phase, where Cryptocurrencies like Bitcoin are now rivaling it as the preferred risk-off asset or when such inflation risks persist. This crypto hype has potentially weakened some demand for Gold. Furthermore, there is the possibility that the US Fed may h.....
0
RBA misleads investors on Australian dollar
The Australian dollar has dropped sharply in today's Asian trading session on the back of disappointing data and throws into question yesterday's assessment of the local economy from the reserve bank of Australia. At 3.34pm(AEDT) the Aussie dollar was trading at US75.76c down from US76.09c in yester...
2
AUDNZD Double Bullish Confluence
AUDNZD Double Bullish Confluence
The AUD/NZD shows Double Bullish Confluence on intraday time frame. We can see the W pattern that pushed the price up while at the same time it has formed the bullish SHS pattern (inverted head and shoulders). If the price drops to the POC zone 1.1050-60 (78.6, EMA89, D L3, Soulder bottom) we could ...
0
Pound supported despite no deal
The British pound is under further pressure today after yesterday’s disastrous outcome on talks between the UK and the EU on conditions for the former to leave the European Union. At 1.04pm (GMT) the British currency was trading at $1.3416 after trading as high as $13538 in yesterday’s trading sessi...
0
Today is make or break for pound
The British pound is pushing higher today as the market awaits the outcome of British Prime Minister Theresa Mays visit to Brussels to broker a deal on leaving the European Union. Early indications coming out of the meeting suggest that the British PM has caved into demands from the EU about the bor...
2
US Dollar Bullish Zigzag if Price Breaks Resistance
US Dollar Bullish Zigzag if Price Breaks Resistance
Hi Traders, The EUR/USD is building a bearish ABC zigzag within a larger wave 2 which could take price back down to 1.1650-1.1750. This zone could act as a support and bounce spot too. The GBP/USD is in an uptrend but a larger bearish pullback could take price back to the broken resistance. This s....
0
USD/JPY Ascending Scallop Formed Straight After the Gap
USD/JPY Ascending Scallop Formed Straight After the Gap
Following the possibly most substantial US tax overhaul since the 1980s, the US Senate gave a significant boost to the USD last night. The corporate tax rate should be cut from 35 percent to 20 percent. The USD/JPY opened much higher than it closed on Friday, making a runaway gap that hasn't been cl...
0
Brexit doubts pressure pound
Brexit doubts pressure pound
The British pound has enjoyed a good run against its US counterpart ever since rumors spread that the EU and the UK were close to reaching a deal on Brexit terms with some saying that a deal has already been reached on a settlement for the UK to leave the EU as well as favorable conditions for both ...
0
USD/JPY Bullish Consolidation at 38.2 Fib
USD/JPY Bullish Consolidation at 38.2 Fib
The USD/JPY made a diving board pattern straight from 111.70 zone and it is consolidating now at 38.2 of the previous swing low. The price is supported by 38.2, D L3, W H4 and double bottom within 112.30-40 zone. This accounts for the POC zone. If the price bounces from the zone, targets could be .....
0
Gold ready for breakout to the upside
Gold ready for breakout to the upside
The gold price has certainly behaved strangely this week, failing to react to news which would usually send the precious metal considerably higher. In fact after North Korea launched another missile on Tuesday (A missile capable of hitting anywhere on the US mainland) gold actually fell and even Don...
2
EUR/USD Continuation of the Rooftop Pattern Below 1.1800
EUR/USD Continuation of the Rooftop Pattern Below 1.1800
The EUR/USD has formed a huge bearish rooftop pattern with a clear support withing 1.1810-00 zone. 1.1865-85 is the POC zone where now moment sellers might be waiting for. Month-end demand can usually be volatile and EUR/USD seem to be offered withing the POC zone. Break below 1.1800 and the pair .....
0
Pound set to rally
The British pound continues to rise today against its US counterpart after rumors surfaced yesterday that the UK has reached a settlement to leave the European union. The deal will see Britain pay between 45-55 billion pounds as it leaves the bloc, with the exact figure depending on how it is calcul...
0
GBP/JPY Diving Board Reversal Pattern Targeting D H4 and W L5 Camarilla Levels
GBP/JPY Diving Board Reversal Pattern Targeting D H4 and W L5 Camarilla Levels
The GBP/JPY has formed a variation of a V-shaped pattern named "Diving Board". The diving board is a reversal pattern that forms after the price makes a flat base than drops down with a high momentum that is followed by a straight-line run-up. V-shaped reversal is created, and the price proceeds u.....
0
Gold steady ahead of key news
The gold price is trading slightly higher today as the market awaits the senate testimony later today from Jeremy Powell who is Donald Trump’s pick to be the next chairman of the US Federal Reserve. In what may be a boost for gold, the next Fed president is expected to take a cautious approach on th...
2
WTI Rooftop Pattern Continuation if D L3 Breaks
WTI Rooftop Pattern Continuation if D L3 Breaks
The WTI, went as planned as we could have seen in my previous analysis. Today we can see a rooftop pattern shaping up that is coming from W H1/ D H5 confluence, and it is being held slightly above D L3 camarilla pivot. We can see the rooftop shape an need to be ready if breakout happens. For posit.....
0
Gold awaits news on tax reform
The gold price is making another run for the $1,300 mark in today’s trading session on the back of US dollar weakness and as the market gets ready for US President Donald Trump to meet with congress tomorrow to garner support for his tax reform package. If Trump manages to convince congress of the b...
0
EUR/USD Aims at 1.20 & USD/JPY Bearish till 110
EUR/USD Aims at 1.20 & USD/JPY Bearish till 110
Hi traders, The EUR/USD is showing strong bullish momentum but an stronger resistance zone is nearby at 1.20. The GBP/USD is trying to breakout above the range but a fakeout remains dangerous. The USD/JPY is in a downtrend and threatens to break the 50% Fib and fall to 110. Watch the 8 min vid.....
2
EUR/USD Broadening Top Formed Between D L3 and D H3 Pivots
EUR/USD Broadening Top Formed Between D L3 and D H3 Pivots
The EUR/USD has been progressing towards upper resistance levels with a bullish zigzag and a form of inverted pennant (Broadening top with a flagpole). We can spot the pattern exactly between L3 and D H3 camarilla pivots. A retracement to the POC zone ( D L3, ATR low, trend line) 1.1890-1.1905 cou.....
0
USD/JPY Down Due to a Flattening Yield Curve
USD/JPY Down Due to a Flattening Yield Curve
Strength can be seen in the Yen, as strong PMI Manufacturing data in Japan may suggest a strengthening in their large Export sector. Yield curves have flattened on US Treasuries, causing some allocation of funds out of US Treasuries and perhaps into other asset classes, that may be outside of USA .....
2
Gold takes a breather, comeback predicted
The gold price has drifted slightly lower for the 2nd day in a row on the back of profit taking as the US as the US celebrates thanks giving but some predict it’s only temporary and rebound is on the cards next week. The main beneficiary for gold is going to be the inevitable pullback in the US doll...
3
Gold looks to go past $1,300
The gold price remains well supported today after yesterday’s stellar gains on the back of a less than convincing speech from The US Federal Reserve which left investors questioning the amount of rate hikes the central bank will deliver next year. Although a rate hike in December is a forgone conclu...
2
WTI W H4 Resistance Consolidation
WTI W H4 Resistance Consolidation
The WTI has been trying to break the W H4 resistance but the price lacks momentum and we can spot a consolidation exactly at W H4 camarilla pivot. If the resistance holds, we might see a retracement towards the POC zone 56.86-59.10 ( D H3, inner trend line, EMA89, D H1, 38.2) and now moment buyers.....
0
XAU/USD Analysis: Bearish SHS Pattern in Progress
XAU/USD Analysis: Bearish SHS Pattern in Progress
Gold spot - XAU/USD is currently forming a bearish SHS pattern (head and shoulders) while still capped below the descending trendline. At this time we need to see if the retracement will reach the POC zone. The POC zone 1286.55-1289.58 (W L3, ATR pivot, historical double top/sellers) if reached co.....
0
Gold remains supported, awaits Fed minutes
Gold remains supported, awaits Fed minutes
After falling sharply on Monday, the gold price has stabilized over the last 2 days and it looks as if for now, the precious metal has found strong support whenever it drops down towards the $1,280 level. It seems with all the geopolitical events happening in the world at the moment such as Brexit, ...
0
Australian dollar keeps diving
The Australian dollar is hovering around a new 5 month low today after a less than enthusiastic tone from the Reserve Bank of Australia in a statement released earlier today.   At 2.44pm(AEDT) the Aussie dollar was trading at US75.39c down from US75.51c in yesterday’s trading session.   In the lates...
0
NZD/USD Continuation Bearish SHS Pattern
NZD/USD Continuation Bearish SHS Pattern
The NZD/USD is in a strong monthly downtrend. If we zoom in to H4/H1 time frame, we are also able to see a downtrend but also a retracement that is happening now. The POC zone 0.6833-45 (D H4, EMA89, 61.8, ATR top) once hit, could reject the price. At the top of that we also see a continuation Bea.....
0
EUR/USD, GBP/USD Bullish Break or Bearish Bounce
EUR/USD, GBP/USD Bullish Break or Bearish Bounce
Hi traders, The EUR/USD is testing the support at 1.1725 and resistance at 1.18 and will break above or below S&R. The GBP/USD is still in a long-term sideways range whereas the USD/JPY bearish reversal is finally taking place as it approaches the 38.2% Fib support. Watch the 9 min video here: ...
0
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