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.
The Cable is effectively following 21 EMA on the weekly TF. It has already tested it three times and the EMA still holds. Therefore, traders may have decent buying trade setups on future retracements too. Reviewing the daily TF, GBPUSD bounced on the trendline (TL1) and recovers yesterday’s losses. However, the confluence of resistances with […]
Markets were confused after the latest news regarding the US-China trade deal status. According to Fox News, Peter Navarro, White House trade advisor, said that the US-China deal has been over, however, he came back and claimed that his statement has been misunderstood. In the meantime, Trump posted a comment on twitter for the same […]
The Swiss trade surplus was the largest since April (Previous: 2.079M, Actual: 2.434M), while Japanese annual inflation rate edged down to 1.2% (Previous: 1.3%). Today’s agenda doesn’t include any major economic news for the pair CHFJPY, so traders should not expect major volatility during this session. Reviewing the weekly technical aspect, the pair seems is […]
