$DX $.DXY $USD $JPY $EUR $GBP $CAD Tuesday, the USD reversed late in the session and is now trading lower against a basket of major currencies. The selling pressure is being led by a strong upward surge in the Euro. The Canadian Dollar is also making a comeback along with the British Pound. The Japanese Yen has been strong all session […]
$.DXY $DX $USD Friday, the US Dollar Index (.DXY) finished sharply lower as the EUR moved to a 12-wk high after the ECB increased its stimulus to bolster EU economies hurt by the C-19 coronavirus chaos. USD has been under pressure for the last 3 wks as risk sentiment improves and stocks rallied on optimism […]
$DIA $SPY $QQQ $UTX $VXX Last week’s action President Trump is now Laser focused on Opening Up America The S&P 500 hit the 78% Fibo retracement of the selloff. After a good 3rd leg, the market is ready for a test, how deep a test is the Big Q. We are watching the leaders to […]
$GC $XAU $GLD Just in: Gold rose more than 1% Wednesday as fears over a worsening coronavirus pandemic triggered a flight to safety, with expectations of further monetary easing by central banks adding support. Spot gold was up 1.4% at 1,592.83 per ounce by 0730 GMT, having slumped 3.1% in the prior session on a […]
$GC $XAU $GLD $USD Gold futures in New York soared for a 2nd session running Tuesday on continued reaction to the Fed’s extraordinary measures to help an economy ravished from the coronavirus pandemic and demand/supply issues. The Fed revealed Monday several programs including lending against student loans, credit card loans and US government backed-loans to […]
$GC $XAU $GLD Gold futures rose Tuesday, rebounding from a 5-session decliner after the Fed’s announcement to boost lending eased fears over a contraction in liquidity. US equity markets recovered some after Monday’s steep decliner, after the Fed stepped in and putting more liquidity into the economy. This triggered the relief rally in gold because […]
$GLD $XAU Friday, April COMEX gold settled at 1566.70, down 75.80 or -4.61%. The move was driven by professional and hedge funds selling as the 2 major players sought to raise cash to meet margin calls and to offset tremendous losses in the stock market. The gold market posted its biggest weekly decliner since November. Despite the […]
$XAU, $GLD Last week Gold markets went back and forth doing almost nothing. But, am seeing a bit of resiliency over the last month, as the 1450 mark has been Very Strong support. The 38.2% Fibo retracement mark is right there, as is the Top of the prior ascending triangle. Ultimately, this is a market that […]
$GLD, $XAU Gold futures traded higher late Thursday despite extremely low volume. Traders are saying the market is being underpinned by the lack of details over the US-China trade deal, and the political uncertainty in Washington. The low volume is being attributed to position-squaring ahead of the Christmas and New Year holidays. At 20:35 GMT, February […]
$GLD $XAU $USD Gold futures are trading nearly flat late Tuesday with gains capped by demand for risky assets and a stronger USD. The market may have been underpinned by slightly weaker US Treasury yields. Fundamentally, the market was pressured by stronger-than-expected US economic data, but may have been supported by concerns over the lack […]
$XAU, $GLD, $USD, $XAG, $SLV Now it is the time of year to predict where gold prices will go in Y 2020. The forecasts’ are worth paying attention to because the experts use a number of factors, ranging from central bank policy to geopolitics to cycle analysis, to make their calls. There is something for […]
$XAU $GLD Gold futures posted wild 2-sided trade late Wednesday before turning lower for the session after the Federal Reserve decided to cut its benchmark interest rate 25-bpts as it remained deeply divided on the need for further easing as the economy improves. The Fed took down its benchmark overnight lending rate to a target […]
$XAU, $GLD, $USD Gold (XAU) tried to rally last week but rolled over to form up a shooting star pattern. That said, prudence says, “take extreme caution when it comes to this market”, as we have seen a couple of shooting stars. It can well be negative signal, and almost always means that the price […]
$XAU, $GLD, $USD President Trump continues his relentless attacks against the Fed and their strong dollar Tuesday with his most recent Tweets: “This is because the Euro and other currencies are devalued against the dollar, putting US at a big disadvantage. The Fed Interest rate way too high, added to ridiculous quantitative tightening! They don’t […]
$DIA, $SPY, $SOX, $QQQ, $RUTX, $VXX FLASH: Stocks advanced for 3rd day running, driving S&P 500 back above its 50-Day MA, a Key technical mark. Nobel Prize-winning economist Robert Shiller warns that the US-China trade war is not over from disrupting financial markets just because stocks rallied after diving earlier in the week. “I think […]
$XAU, $GLD, $XAUUSD FLASH: Strong US economic growth and subdued inflation mean there is no strong argument for a rate hike or cut right now, though business confidence is fragile, a Fed policymaker said Wednesday. “There’s not a strong case to push rates higher when inflation is under control; there’s not a strong case to […]
$DIA, $SPY, $QQQ, $RUTX, $VXX FLASH: S&P 500’s 8-Day Winning Streak Capped in a Fibo Retrace on Volume Tax time is here and the April 15 deadline for individual returns looms, as Americans are facing the full reality of President Trump’s new tax law. The law, better known as the Tax Cuts and Jobs Act, […]
Bitcoin Selloff Has Bears in Charge $BTCUSD Bitcoin’s (BTC) price pullback from the recent highs above 8,500 looks like a short-term Bear market on the technicals. The leading cryptocurrency fell to a 2-week low of 6900.995 earlier Saturday The sell-off from the recent high of 8,507 had shown signs of exhaustion near 7,455, the 38% Fibo retrace […]
Bitcoin’s Month Long Rally Has Technical Analysts Turning Bullish $BTCUSD In June MTD Bitcoin has rallied and broken the Psych and technical marks monitored by traders. Currently Bitcoin is 50% off its all-time highs from December 2017, the overall sentiment may have reversed with series of higher highs and higher lows are now in place […]
The Technical Outlook for Ethereum $ETHUSD Early this moth ETH/USD showed relative strength among the major cryptos. Although last week’s pullback saw Ethereum move below support at 700, it has risen back above it and price did not break below the invalidation mark at 627, tilting to Bearish. Currently, Ethereum is trading at: 686.605, -47.715, or -6.50%, […]
Bitcoin Bulls are Still in the Action $BTCUSD Saturday, Bitcoin gained 0.84% to end the day at $8,483.2. It was only the 2nd positive day last week that has left Bitcoin down 12.2% Monday through Saturday. Friday saw Bitcoin fall to an intra-day low and new low $8,204.4 before a late morning recovery, Bitcoin managing to […]
Bitcoin: The Bulls Vs The Bears $BTCUSD Bitcoin started to look good Friday, and it rallied through to a mid-day high at $9,020 Saturday, before a late afternoon sell-off hit the broader cryptocurrency market. Bitcoin, could break through the 1st major resistance mark at $9,161.65, as investors locked in gains that led to Bitcoin falling […]
Technical Outlook for WTI Crude Oil & Gold (Weekly) $USO, $OIL, $GLD NYNEX Crude Oil (CL) The rebound from 39.19 extended higher and the break of the resistance at 44.42 argues that pull back 51.67 has completed at 39.19. Intra-day bias is back to the Northside for 55-Day EMA now at 46.13) 1st. A clear […]
Technical Outlook for Gold (Weekly) $USO COMEX Gold (GC) Gold’s consolidative trading continued and outlook is unchanged in here. At this point, further rise cannot be ruled out as long as the support at 1308.2 is intact. The/an extension could top around long term Fibo mark at 1380.98. A clear break of the Key support […]
US Crude Oil Technical Outlook (Weekly) $USO NYMEX Crude Oil (CL) WTI Crude Oil formed a low (temporary)after dipping to 39.19 and recovered. Some consolidations could be seen 1st but outlook will remain Bearish as long as 44.42 support turned resistance holds. Current decline from 51.67 would target 61.8% Fibo retracement of 26.05 to 51.67 […]
EURUSD Forex Technical Analysis (Daily) $EURUSD Euro EURUSD broke the resistance (Red dotted) of the small consolidation zone and moved up towards the 61.8% Fibo retracement mark, which has served as a resistance point till now. A push above this Fibo could see price challenge the 78.6% Fibo mark of Wave 2 Vs 1, but […]
Weekly Technical Outlook NYMEX Crude Oil (CL) Nymex Crude Oil (CL) The choppy fall from 51.67 continued last week and broke 41.88/90 cluster support (38.2% Fibo retracement of 26.05 to 51.67 at 41.88). Continued trading below this mark should now bring deeper fall to 61.8% Fibo retracement at 35.84 1st and possibly to 35.24 support […]
Technical Outlook for COMEX Gold (Weekly) COMEX Gold (GC) Gold’s consolidation trading continued but recovered ahead of 1308.2 the Key support. At this point, a move higher cannot be ruled out with 1308.2 support intact. Be cautious on topping around long term Fibo mark at 1380.98. Break of support at 1308.2 will be the 1st […]
The Technical Outlook for Gold Bullion Spot Gold moves higher Monday closing at 1,284.32 oz, as risk aversion helped the commodity to resume its Bullish trend from earlier this year. Risk aversion, prompted by China and the UK, underpinned the precious Yellow metal, alongside with the Uturn in market’s hopes of a US Summer rate […]