Gold Analysis Update (XAUUSD) See the homepage for recent Gold trading analysis Gold has moved below the ascending trend line we highlighted earlier this week. This is currently in the early stages of a breakout and a move below 1710 (the weeks low) would add further bearish weight to the current scenario and make the likelihood…
XAUUSD Gold Analysis Gold Analysis Update: The dollar is retracing some of yesterday losses and moving to the upside. XAUUSD has subsequently dropped towards the 1711.50 weekly low and is threatening to take the level out after a flag pattern formed and subsequently broke on the lower timeframe (update: level now penetrated). See the 15…
Gold reversal At 61.8% Fibonacci Retrace Gold has printed the largest single day decline in over 4 weeks and dropped one percent after reassuring U.S. NFP data killed near term expectations of additional financial stimulus from the FED. This has seen the formation of a bearish engulfing candle on the daily timeframe which is signaling…
The European single currency dropped versus almost all of the majors as Greece is coming to the end of another week and yet to reach a comprimise with private investors. The single currency was weaker as the Greece debt-swap deal remains unresolved. The Japanese yen increased in price to nearly hit a postwar high versus…
Gold Strength Could See Biggest Monthly Gain Since August The price of Gold moved higher on Tuesday and bullion is on course for the most significant monthly rise since the month of August. Gold gained almost 5% in the previous week and continued the upside trend that has been in place for a month now,…
Gold (XAUUSD) Analysis Update The strong dollar has weighed heavily on gold in recent times but the past weeks price action has seen the greenback lose ground against the likes of the major currencies and commodities. The $1800 per ounce level is the next key area if price moves to the upside this coming week. …
Gold Strength Observed Over The Week But Capped On Profit Taking Gold dropped 1 percent as the week drew to a close yesterday; this came on the back of the dollar strengthening versus the euro after rumours of an upcoming credit downgrade associated with major euro area nations hit the markets. Standard & Poor’s subsequent…
Gold (XAUUSD) Technical Analysis Overview Gold has moved to an intra-day high of 1640.01 which is slightly below the daily high of 1641.53 from 21/12/11 – a level which represents a lower high swing point as highlighted on the Gold chart below. This comes after support was found on 29/12/11 after breaking through the prior…
Silver Technical Analysis Update Silver has once again found support around the 26.00 level on a recent attempt to move lower. There has been a monthly gain to date of 3.16%. The 61.8% Fibonacci retrace of 8.48 – 49.77 is located at the 24.35 and would come into focus on a break of the key…
Gold added to recent losses yesterday as the the greenback went up to session highs versus the euro, with worries regarding the capability of policy makers to bring the region out of the euro area crisis applying pressure to EUR/USD bulls and higher yielding instruments. Spot gold is now well below the record price of…
GBP/USD Analysis 16/12/11 The chart below shows a confluence of Andrews sliding parallel, 38.2% Fib and major psych level (1.5500). This area has held price so far today in terms of support and cable is now testing the median line around 1.5525. Robust data from the US, as initial jobless claims surprisingly fell to a…
Gold Analysis – November 7th The price of Gold has moved towards a multi-week high and eased through the 61.8% Fibonacci retrace of 1920.9 > 1532.4, as Italy’s 10-year bond yields hit a record today, climbing to 6.55 percent. Concerns remain that Italy, who are the euro-zone areas third largest economy, might be the next…
Gold down on strong dollar and wedge breakout. Gold Sentiment Overview The Chinese economy has grown at the slowest pace experienced in the last two years during the penultimate quarter of the year. German policy makers expressed concern over the reality of EU leaders finding an ongoing solution to the euro-zone debt crisis, this has…
Gold Analysis: Precious Metals Higher And Correlated With Risk Assets Gold ended the week higher and printed the largest gain in over a month; this came as optimism surrounding euro-zone plans to combat the areas debt issues and a weaker dollar was seen. Spot gold rose almost 1 percent on Friday and by 2.5 percent…
EUR/USD Analysis The key market moving news this past week was that Germany and France said they are closer to settling on a package they believe could stabilize the Euro-zone area. The package, which has seen the market in a more optimistic mood and hoping that Euro-zone policy makers could be closer to tackling the…
Gold Price Drops Heavily As Recession Fears Grip Global Markets Gold has dropped heavily this week with a range that was 294% of the average over 26 weeks; this included the biggest two-day dive since 1983 and likewise the largest weekly gold price decline for this period. Many speculators may have been liquidating gold positions…
XAU/USD 7/9/11 Gold has dropped today as global equity markets rallied and a “risk on” sentiment prevailed. Our analysis yesterday called for a short term drop after a new record Gold price high was printed and the RSI 14 formed a divergence on the daily chart. The CME’s recent increase in Gold trading margins could…
XAU/USD Analysis 6/9/11 Gold has seen a break above the previous record high with a 1920.80 level hit today as liquidity returned following the extended Labor day weekend in the US. Price has subsequently retraced from the highs and the RSI oscillator has formed a divergence, as can be seen on the attached daily Gold…
XAU/USD analysis 30/8/11 Gold looks set to close near the monthly range highs as the corrective retrace from the $1900 level has seen little follow through. The precious metal is however providing mixed signals at present. Gold analysis follows below: Gold Weekly Chart Last week had the first lower close in 8 weeks on the…
Gold Analysis 24/8/11 Sentiment Overview – Gold moved past the $1,900 mark on Tuesday but swiftly retraced its gains to finish over 3% lower on the day. This was the largest daily slide in one and a half years with the precious metal having advanced by over $300 since the start of August. Gold bulls…