Forex Analysis for XAU/USD

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Review of GOLD for a week of June 1 on simplified wave analysis
Review of GOLD for a week of June 1 on simplified wave analysis
Wave picture of the chart D1:Quotations of gold since December 2016 keep a steady vector on the "north" of the chart. The current wave formed the final part (C) in a larger-scale wave model and is not yet completed. The wave pattern of the graph H1:The price has formed a bearish zigzag since April 1...
1
Technical analysis on Gold for June 1, 2018
Technical analysis on Gold for June 1, 2018
Gold price remains near key resistance of $1,305. Every time Gold tried to break above the resistance it got rejected. Will the NFP announcement today provide the necessary boost for a break above resistance and finally a move towards $1,320-30? I believe so.Blue horizontal line -short-term resistan...
1
Analysis of Gold for May 31, 2018
Analysis of Gold for May 31, 2018
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,305.90. According to the H1 time – frame, I found that there is a finished (abc) bearish correction in the background, which is a sign that selling looks risky. I also found an intraday bullish flag and upward c...
1
Technical analysis on Gold for May 31, 2018
Technical analysis on Gold for May 31, 2018
Gold price is ready for a move higher towards $1,320-$1,330. It is breaking above the medium-term resistance trend line and should rally for at least a few days. I remain bullish on gold.Purple line - short-term supportYellow line - medium-term resistanceGreen horizontal lines - targetsGold price is...
0
Gold as an anti-dollar
Gold as an anti-dollar
Gold shows mixed dynamics amid the interaction of many "bullish" factors with a strong US dollar. The fastest decline in the yield of 10-year Treasury bonds since mid-2016, the fall in the likelihood of four federal funds rate hikes in 2018 from more than 50% to 23%, a correction in the US stock mar...
1
Why is "kangaroo" sad?
Why is \
AUD / USD The nearest prospects of the Australian dollar appeared to be most expected from the fundamental positions.The US dollar index rose 0.45% yesterday, while gold corresponds to the closing Monday, iron ore lost 0.85% ($ 65.70 per tonne), and aluminum fell 0.79%. The number of issued permits ...
0
Analysis of Gold for May 30, 2018
Analysis of Gold for May 30, 2018
Recently, the Gold has been trading sideways at the price of $1,298.60. According to the H1 time – frame, I found a potential bullish flag in creation, which is a sign that selling looks risky. My advice is to watch for a potential breakout of supply trendline to confirm further upward continuation....
0
XAU/USD: gold wants more but...
XAU/USD:  gold wants more but...
Recommendation: SELL 1315 SL 1330 TP 1285 TP2 1272 TP3 1244 SELL 1325 SL 1340 TP 1295 TP2 1285 TP3 1272 On the daily chart, XAU/USD keeps forming a “Broadening wedge”. The pair’s correcting to 23.6%, 38.2% and 50% of the wave 4-5. It’s usually used for forming short positions. The inability of bulls...
1
Trading plan for 30/05/2018
Trading plan for 30/05/2018
The night on the currency market was quite calm as none of the major currencies changes the value to USD by more than 0.2. EUR/USD challenges the support zone around the October minimum, USD/JPY fights to preserve the growth structure by defending support 108.50-70. In the stock markets very negativ...
2
Daily analysis of Gold for May 29, 2018
Daily analysis of Gold for May 29, 2018
OverviewThe gold price is trading downwards moving away from 1,301.20 levels, which keeps our bearish overview valid for today. Our next main target is located at 1,285.90; a breach of 1,301.20 – 1,303.80 levels will stop the expected decline and lead the price to regain its main bullish track again...
0
Brent restores the status quo
Brent restores the status quo
The oil market decided to correct it due to information about the intentions of Russia and Saudi Arabia to increase production by 1 million b / s. Speculators began to record profits on record net long-term losses due to fears that OPEC and other member countries of the Vienna agreement are not sati...
2
The Fed helps strengthen the dollar
The Fed helps strengthen the dollar
The dollar continued to strengthen on Monday, despite the lack of new data. Markets continue to win back the Fed's confidence in the next rate hike which is likely to happen "very soon", as the economy grows enough to tighten the policy rate."Very soon" is already on June 13. It is on this day that ...
0
Analysis of Gold for May 29, 2018
Analysis of Gold for May 29, 2018
Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,297.00. According to the H1 time – frame, I found a rejection of the support trendline, which is a sign that selling looks risky. My advice is to watch for a potential bullish flag and then for buying opport...
1
EURUSD: Italy and Spain pressuring the single currency
EURUSD: Italy and Spain pressuring the single currency
Previous: On Monday the 28th of May, trading on the single currency closed down. It dropped to 1.1607 during the European session. Market volatility subsided during the US session Due to the fact that both the US and Canada has public holidays. Buyers, taking advantage of the off day in the US, mana...
0
Trading plan for 29/05/2018
Trading plan for 29/05/2018
After holidays in the USA and the UK volatility in the Asian session remained severely limited. The exception is USD/JPY, which again descended under 109.00 and again defended the support zone 108.50-70. EUR/USD remains close to the long-term hole and support around 1.1620. GBP/USD is struggling to ...
0
We expect the dollar to continue to grow
We expect the dollar to continue to grow
On Monday in the United States and Great Britain there were long weekends due to holidays. In the foreign exchange market, activity was noticeably lower than normal due to the lack of a large number of American investors and foreign investors who work through American professional market participant...
0
The pound used to fall.
The pound used to fall.
GBP / USDOn Monday, the United Kingdom was in a holiday and most of the investors' attention was drawn to Italy and Spain. The pound practically fell out of their sight and closed the day by 15 points. On Thursday, the UK will be release the data on lending and forecasts are moderately optimistic, t...
0
Technical analysis of gold for May 29, 2018
Technical analysis of gold for May 29, 2018
Gold price remains supported in the short-term despite a widespread dollar's strength. Gold remains above $1,290 and is expected to make a new move higher at least towards $1,320-30 area. This is very important confluence area of resistance.Yellow line - resistancePurple line- short-term supportGree...
1
Gold (XAU/USD) could switch the focus to the downside
Gold (XAU/USD) could switch the focus to the downside
Gold has been struggling to consolidate above the 200 SMA, following a strong offer zone found in the Fibonacci level of 50% at 1303.80. Such zone should give up in order to allow a momentum that pushes the yellow metal towards the highs from May 11st. However, as the 1303.80 lies as a strong resist...
1
Daily analysis of Gold for May 28, 2018
Daily analysis of Gold for May 28, 2018
OverviewGold price opens this week by a clear decline below 1,301.20, after finishing last week below it too. This reactivates the bearish correction scenario on the intraday basis, waiting to target 1,285.90 level as a first main station. Therefore, the bearish trend will be expected in the upcomin...
1
Analysis of Gold for May 28, 2018
Analysis of Gold for May 28, 2018
Recently, the Gold has been trading downwards. The price tested the level of $1,295.00. Anyway, according to the H1 time – frame, I found a potential end of the downward correction (abc), which is a sign that selling looks risky. I also found the upward trendline on the test, which is another sign o...
0
EURUSD: bulls have recovered Friday’s losses
EURUSD: bulls have recovered Friday’s losses
Previous: On Friday the 25th of May, trading on the EURUSD pair closed down. The single currency’s decline was brought about by political tensions both in Italy and Spain as well as the greenback’s broad ascent, which happened in spite of a decline in US10Y bond yields. Bond yields went down to 2.92...
0
Raw markets are a big problem for the "Australian"
Raw markets are a big problem for the \
AUD / USD Despite the geographical distance and traditional calm of Australian investors for European events, the double political crisis in Europe, including Italy and Spain, could not help but touch Australian trading floors. The Australian dollar lost 28 points on Friday, but taking into account ...
0
European political crisis weighs on the pound
European political crisis weighs on the pound
GBP / USD During the turbulent events in Spain and Italy on Friday, the dollar index increased by 0.52% which dragged the British pound down to 84 points. In the last two days, gold and oil strongly fall which also affected the dollar strengthening. On Friday, the the second assessment of UK GDP for...
1
Technical analysis on Gold for May 28, 2018
Technical analysis on Gold for May 28, 2018
Gold price bounced off the support area at $1,280 but price remains inside a daily bearish channel. I feel confident that price will reverse back to the upside and move at least towards $1,315-20 area. Gold price needs to make a higher low and then break above $1,305-07 resistance area.Red lines - b...
1
Technical analysis of GOLD for May 28, 2018
Technical analysis of GOLD for May 28, 2018
According to the 4-hour chart, gold is still moving in the bearish bias. After the price touches the previous resistance, it seems gold now wants to try to re-test again this level again in a few days ahead if Gold does not break out and closes above the $1,305.75 level. Meanwhile, the precious meta...
1
Daily analytical report (25/05/18)
We’ve finally got a decent correction on oil. WTI is going down for the fourth day in a row and in the meantime, the price broke the lower line of the channel up formation and the mid-term upwards trend line. The next target for this drop is the horizontal support at 66.1 USD/bbl. The second commod....
1
The ECB will not hurry
The ECB will not hurry
The publication of yesterday's minutes of the ECB meeting held on April 25-26 did not lead to a sharp purchase of the European currency, but only forced investors to pay closer attention to the future statements of ECB President Mario Draghi and the decisions of the Central Bank.The slowdown in the ...
1
Powell can stimulate the dollar to growth
Powell can stimulate the dollar to growth
The dollar remains under pressure on the wave of increased geopolitical risks, which are produced personally by D. Trump and the United States. These include the situation in the Middle East around Iran, then the cancellation of the president's visit to North Korea, and the risk of a large-scale tra...
0
Analysis of Gold for May 25, 2018
Analysis of Gold for May 25, 2018
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,306.19 and reached my first yesterday's target. According to the H1 time – frame, I still expect higher price. I found a bullish flag in creation, which is sign that sellers are still weak and that buyers may co...
1
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