GOLD retraced back to the trendline (lows 1180 and 1194) and has performed a four days run to the upside. The price isn’t so convincing because the daily candles have very small range. However XAUUSD is facing an important horizontal resistance which we may call it “make or break”. If price breaks out, then the next resistances are 1248 and 1262. There are good probabilities for sell opportunities if price manages to climb to these areas. On the other hand, if price breaks out the rising channel to the downside, then GOLD may see the lower trendline again.
Good Morning, – Euro stable, stocks tank, Aussie rallies and Yen strengthens. – US stocks fell the most in 2 months, sending S&P 500 1.26% lower and affirms the index’s worst start to a year since 2009. – Asian shares: Japan’s Nikkei -3.08%, Hong Kong’s Hang Seng -0.43%, Korea’s Kospi -0.15%, Australia’s ASX […]
As expected RBA kept interest rate stable at 1.5%, but their comments were neutral while there is a hawkish trend by the rest of Central Banks. This was enough to push the pair lower with intense bearish momentum. Today’s red candle is trimming almost all gains of 28 and 29/6 bull candles. Following up our comments […]
Good Morning, – Euro slips to six-week low at 1.2850 level on weak euro zone GDP. – Asian shares: Japan’s Nikkei -0.39%, Hong Kong’s Hang Seng +0.26%(07:00 GMT), Korea’s Kospi +0.79%, Australia’s ASX 200 -0.56% and China’s Shanghai +1.21%. – Economic output across the single currency area fell by 0.2% in the first three […]
