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.
Markets will be concentrating on Catalonia and how the region is going to operate during the current week. The Spanish central government has obtained the command of the region and dismissed the local government. The stressed state appears to be pressing the euro. The pair was hammered the prior week after Draghi vowed that the ECB’s […]
Good Morning , – AUDUSD is off the highs from yesterday, despite an upbeat RBA, but worse than expected trade data out of China have put pressure on the Aussie (low so far 1.0511). Other currencies trade in narrow ranges. – Stocks: Nikkei -1.17 %, Hang Seng -0.91 %, Shanghai Composite -0.34 %, Dow […]
Good Morning, – Dollar, shares gain after GDP data eases Fed fears. – Dollar Index eased 0.17 percent this session after reaching a near one-month high of 83.025 on Wednesday. – Asian shares: Japan’s Nikkei 2.96%, Hong Kong’s Hang Seng 0.98%(07:00 GMT), Korea’s Kospi 2.87%, Australia’s ASX 200 1.63% and China’s Shanghai -0.08% […]
