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.
In a relatively quiet week for economic calendar events and published data, it was political theatre and macro economics which dominated the news agenda, causing associated movements in financial markets. In the USA the value of USD and equity market sentiment, was impacted by issues surrounding Donald Trump’s potential impeachment and the ongoing issue of […]
Good Morning, – The Euro trade lower below 1.34 level, having touched a six-month high of $1.3451 in New York on Tuesday, all eyes on FOMC minutes release. – Asian shares: Japan’s Nikkei 0.21%, Hong Kong’s Hang Seng -0.75%(07:00 GMT), Korea’s Kospi -1.08%, Australia’s ASX 200 0.42% and China’s Shanghai 0.02%. – Large […]
Ethereum is trying to recover its losses following the major upside momentum of Cryptos. It is currently trying to close above 5 EMA in daily timeframe. If so, it will be an additional positive sign for the buyers. However, there is a major resistance at $900 level while Stochastics (8.3) is rising above 30 level. […]
