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, – The dollar lost ground across the board yesterday, for the first time after six days… – Fed’s Williams says Fed may reduce QE in summer, halt by year end… Also said, US growth will come out of almost 2.5% this year, 3.25% in 2014. Finally, said unemployment may fall below […]
Buyers didn’t have enough momentum to push EURUSD towards August’s 2016 High (1.1365) and it is consolidating between 1.128 to 1.111. The pair maintains the bullish bias as long as keeps intact the 1.111 recent daily low. If it violates this level to the downside, then it gives a potential target around 1.094. In this […]
Good Morning, – The euro fell to a 22-month low versus the U.S. dollar and touched $1.2663, the strongest level since November 2012, ahead of the ECB meets on Oct. 2 – Asian stocks stumbled to a four-month low on Monday as political unrest in Hong Kong gives some worries in the market. […]
