A weak U.S. dollar is a threat to the global economy and the only way to stop the greenback’s decline is to reintroduce a gold standard, said media tycoon, Steve Forbes. Forbes, the editor and chief of Forbes Media, was one of the keynote speakers at the annual Freedomfest conference in Las Vegas, an annual convention that looks to gather free minds for open discussions on politics and the economy. In an interview with Kitco News’ Daniela Cambone, Forbes talked about ...
Talking Points: US Dollar May Drop Before Larger Advance Resumes AnewS&P 500 Continues March Upward, Eyeing July Swing TopCrude Oil Chart Setup Suggests a Rebound May Be Brewing US DOLLAR TECHNICAL ANALYSIS – Prices turned lower as expected, completing a bearish Evening Star candlestick pattern and hinting at further losses ahead. Negative RSI divergence bolsters the case for a downward scenario. A daily close below the 14.6%Fibonacci retracement at 10547 exposes the ...
Gold has been consolidating in a descending triangle this week after it found resistance at about 1322. Note the bullish bias in the 1H chart. 1) Price was bullish at the end of last week, so the prevailing trend in the 1H chart is bullish before it consolidated this week. 2) Price is for the most part trying to stay above the 200-, 100-, and 50-hour simple moving averages, which would reflect a bullish market. 3) Price broke above the descending triangle resistance today. ...
Gold (XAU/USD) Wedge Breakout: After breaking above a falling wedge pattern seen in the 4H chart, gold (XAU/USD) stalled at 1323, and has been trading in a triangle consolidation. The wedge breakout was a bullish signal. The rally pushed gold (XAU/USD) above the cluster of 200-, 100-, and 50-period Simple Moving Averages (SMAs). The 4H RSI was pushed up above 70. Now if price can hold above the SMAs, the wedge*breakout is still valid, and if the 4H RSI holds above 40, there is maintenance ...
Gold Monthly Technical Analysis for August 2014 Nearby Comex Gold futures closed lower for July and near the low of the month, suggesting more selling pressure may be coming in August. The short-term view shows a market that is very sensitive to U.S. economic data and not too much to geopolitical events. With the improving U.S. economy slowly moving the Fed towards an interest rate hike in 2015, some of the uncertainty that has been supportive for gold has been lifted. ...
Recent Comments