Good morning,
We keep watching the forming process of new reverse H&S pattern on 4H chart. Now 2025$ area seems vital for bulls. Market either has to turn up from there or downside action will continue.
This preview of weekly data looks at USOIL and XAUUSD, where economic data coming up later this week are the main drivers in the markets for the short-term outlook. The most important economic data for this week are:
Monday: US Services PMI at 15:00 GMT for the month of January. The consensus...
Good morning,
Upside bounce from predefined level has happened. Gold still keep potentially bullish pattern valid, so we do not consider now any bearish positions:
Good morning,
Gold has slipped a bit lower and now is wobbling around 2020$ area - vital for reverse H&S pattern. Either it starts working or we get downside continuation:
Good morning,
This week we've got two same but opposite patterns on weekly chart. Our solution is to stay stick with reverse H&S pattern, monitoring price action around 2020-2025$ support area and see what direction will prevail:
Fundamentals
Gold has passed through recent doom and gloom of the Fed and NFP reports relatively quiet. At least no one reaction has become a hazard for existed bullish context. This means a lot. In fact, despite often speculation concerning ETF holdings, that they were dropping actively in...
Good morning,
Gold bullish context stands fine by far. We do not consider any short positions for now and intend to watch for NFP report. If any deep around $2030 area will be formed, we consider it for long entry. Our major upside target stands around 2090-2100$:
Good morning,
Despite the Fed volatility, Gold keeps wells our bullish scenario. Now we consider long entry with upside continuation to the next 2070$ target. 2030$ now seems as short-term critical area for this setup:
Good morning,
Gold keeps bullish context. With a lot of coming events in nearest two days (Fed, NFP etc), we do not exclude retracement to 2020$. Thus, taking long position in parts now seems like not bad compromise.
Good morning,
So now gold has set upside trend on daily chart as well. Potentially we see 2090-2100$ target of this action, and some additional minor targets stand on 1H chart. We consider 2020-2025$ as attractive area for long entry:
Good morning,
Gold stands indecision. Formally, we have only bullish grabber on weekly chart, although price performance is not impressive. For bears we suggest to wait until situation with this grabber will be resolved somehow:
Fundamentals
Gold now mostly follows the common tendency. As geopolitical tensions from Middle East come off the headlines of media agencies and everybody turns to TX problems, markets stuck in indecision. Forex, and gold stand in tight range without any big swings in any direction. Of course...
Good morning,
Gold doesn't show as dramatic action as EUR due to recent ECB and GDP reports. Still, price is stuck between two vital areas, keeping valid both scenarios. That's why we suggest to wait a bit and see what will happen next week:
Good morning,
So, Gold was able to hold vital bearish resistance of 2040$, moving lower. This keeps bearish context intact. Still we have weekly grabber on the table, that remains valid by far and bulls have to make difficult decision on either taking position with it or not, because market...
Good morning,
Gold keeps nominal bearish context by far. But on intraday charts we see bullish signs that make us to stay aside from any new short positions:
Good morning,
So, the first part of our plan is done - gold returns back to vital 2040$ resistance area. Upside breakout increases chances on further upward action in a row of weekly grabber pattern. Holding of 2040$ will keep bearish context valid, at least for some time:
Good morning,
Gold has formed bullish weekly pattern that put the shadow on intraday bearish scenario. We intend to watch how gold will perform around $2016 support area to get an early sign of potentially changing context:
Fundamentals
Yesterday we've talked about US domestic affairs, and particularly the Fed strategy, how it could get investors totally showed by keeping rate at high level and providing liquidity at once in a way of QE that will be not officially announced. Very handy plan and we think that the...
Fundamentals
Yesterday we've talked about US domestic affairs, and particularly the Fed strategy, how it could get investors totally showed by keeping rate at high level and providing liquidity at once in a way of QE that will be not officially announced. Very handy plan and we think that the...
Good morning,
Gold keeps nominal bearish context but is coming to vital 2030-2040$ resistance area. Bears have to hold it to keep downside context intact:
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