All Articles Tagged - gold

Technical Analysis – Gold to continue consolidation in short term

Posted on March 15, 2019 at 10:15 am GMT

Gold is trying to recover Thursday’s losses, which emerged after a failure to surpass the 20-day moving average (MA) but the technical indicators suggest that positive momentum may not pick up steam yet, at least as long as the RSI holds around its 50 neutral mark and the MACD keeps moving softly along its red signal line. The 1,1295 level could provide nearby support to downside corrections, while lower a more descent barrier may arise around 1,276 as any break below this point may confirm [..]

European Open Preview – UK to seek Brexit delay but pound down as third meaningful vote looms

Posted on March 15, 2019 at 9:14 am GMT

Sterling retreats lower despite Parliament voting to extend Article 50 as investors eye EU summit and third meaningful vote next week Risk sentiment boosted by “substantive progress” in US-China trade talks but disappointment that there will be no March summit Gold back above $1300 after North Korea says may suspend denuclearisation talks with US Pound fails to resume rally after MPs vote to delay Brexit British lawmakers on Thursday voted to extend the Article 50 process as expected, which, together [..]

European Open Preview – Pound swings wildly on May’s Brexit defeat; more votes to come

Posted on March 13, 2019 at 9:01 am GMT

Pound edges up, recovering from earlier sharp losses, as UK Parliament expected to vote against no-deal Brexit May’s yet another historic defeat leads equities into risk-off mood; global growth concerns and Boeing slump also weigh Aussie slips on weak consumer confidence Sterling likely to remain volatile as British MPs to vote on no-deal and delaying Brexit After rallying sharply to a high of $1.3288 yesterday, the pound dramatically reversed lower, hitting a low of $1.3003 as it became apparent that [..]

Technical Analysis – Gold rebounds on SMAs’ bullish cross and holds in Ichimoku cloud

Posted on March 12, 2019 at 2:09 pm GMT

Gold has been trading within the Ichimoku cloud after the rebound on the bullish crossover of the 20-and 40-simple moving averages (SMAs) around 1290.45 in the 4-hour chart. Looking at momentum indicators, the RSI is strengthening momentum above the 50 level as it is sloping upwards, while the MACD is trying to surpass the trigger line in the positive zone. Immediate resistance would likely come from the 1300 – 1302 zone as the price successfully climbed above the 23.6% Fibonacci retracement level of [..]

European Open Preview – Draghi torpedoes euro; US payrolls coming up

Posted on March 8, 2019 at 8:42 am GMT

US nonfarm payrolls report dominates the agenda today ECB pushes back rate hike timing, announces new loans; euro crumbles Stocks continue to retreat, yen advances as China’s trade data disappoint Nonfarm payrolls in the limelight The spotlight today will be on the US employment report for February. Forecasts are quite optimistic across the board. Nonfarm payrolls (NFP) are expected to have risen by 180k, less than January’s astonishing 304k but still a strong number overall. Meanwhile, the unemployment rate is anticipated [..]

European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:46 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]

European Open Preview – BoC decides as rate-hike bets evaporate; aussie drops

Posted on March 6, 2019 at 8:45 am GMT

Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. No action is expected, and since there is no press conference by Governor Poloz either, investors will scrutinize the accompanying statement for any policy hints. [..]

European Open Preview – Dollar rally in full throttle, but mind the speed bumps

Posted on March 5, 2019 at 8:47 am GMT

Dollar upswing continues unabated, but caution gradually warranted US stocks retreat after soft data, Chinese markets up on stimulus news RBA stays on hold, aussie yawns UK services and ISM non-manufacturing PMIs coming up today Dollar rally in full throttle, but speed bumps may lie ahead The US dollar registered another session of strong gains to kick off the week, gaining ground against all its major counterparts besides the defensive Japanese yen, which was the best performer as risk sentiment [..]

European Open Preview – Stocks bask in trade optimism; dollar advances

Posted on March 4, 2019 at 8:55 am GMT

Stocks cruise higher on reports that a trade deal is just around the corner Dollar advances, despite soft US data and ‘jawboning’ by Trump Loonie crushed as Canadian GDP disappoints, oil retreats Equities bask in trade optimism US stock markets closed higher on Friday, and futures suggest these indices will likely open in the green on Monday as well, fueled by renewed optimism that a US-China trade deal is just around the corner. Media reports over the weekend reinforced such [..]

Technical Analysis – Gold declines near 1-month low; loses momentum in near term

Posted on March 4, 2019 at 7:51 am GMT

Gold had been trading sharply lower over the last three consecutive days, dropping towards a fresh one-month low near 1290 on Friday. The bounce off the ten-month high of 1346.61 drove the market back to the downside, below the 20- and 40-simple moving averages (SMAs), which are both now suggesting a possible bearish retracement in the short-term. Looking at momentum indicators, the RSI is lacking direction slightly below its neutral threshold of 50, suggesting that the market could keep losing [..]

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