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 , §We had weak data in China, Japan and Australia over the weekend which let the AUDUSD drop to 1.0239 briefly, but overall markets remained solid and risk is/was still well supported. EURUSD traded in 35 pips range 1.2550-85. §Stocks: Nikkei +0.38 %, Hang Seng +0.46 %, Shanghai Composite +0.52 %, […]
Good Morning, – China’s Economy Grew 7.8% in Third Quarter, Matching Estimates – Dollar Slides Amid Bets Fed Will Maintain Stimulus; Franc Rises. The dollar fell the most in a month versus the euro as investors bet disruption from the U.S. debt-ceiling debate will hamper growth and prompt the Federal Reserve to postpone […]
The US-Japan trade deal has been officially announced by President Trump and Prime Minister Abe at the sidelines of the UN General Assembly. It covers US agriculture products that will enjoy eliminated tariffs, Japanese manufacturing products and digital trade. USDJPY pair has already reacted to the news and readers of our blog were well prepared. […]
