Gold prices have been consolidating in sideways fashion for the past month. With limited new information from the Fed regarding the status of the next rate hike, gold prices have found a comfortable range to trade in. Technically speaking, this range could be taking the shape of a triangle. This pattern suggests we’ll look for lower levels to buy into. It is not uncommon for prices to briefly penetrate the triangle’s trend lines. Therefore, ...
Daily price is located above 100 SMA/200 SMA reversal zone on the bullish area of the chart within the following support/resistance levels: 1375.11 resistance located far above 200 SMA in the bullish area of the chart, and1305.46 support level located in the beginning fo the secondary correction. If the price will break 1375.11 resistance level so the primary bullish trend will be continuing. If the price will break 1305.46 support level so the local downtrend ...
We looked at the precipitous fall in Gold prices on the back of a more hawkish Federal Reserve that spent much of the month of May talking up the prospect of higher rates in the United States. This prospect of higher rates was a huge change-of-pace for markets, which had built-in the expectation for the Fed to be extremely dovish after the risk-aversion that put up sizeable moves at the beginning of the year. And that inferred dovishness was hugely helpful ...
US Dollar Forecast – A Late Push for the Dollar from Yellen Puts Bulls on Notice The Dollar spent much of the past week consolidating following a three-week advance, but Yellen’s remarks Friday spurred a rally that put the bulls back on the front foot. We will open the new trading week with the USDollar at a two months high but liquidity curtailed by Monday’s Memorial Day holiday. British Pound Forecast – Sterling Continues to Strengthen With Brexit Vote a Month Away ...
US Dollar Forecast – Dollar Forges Bullish Reversal but May Struggle to Maintain Lift The Greenback advanced against all of its major counterparts this past week, and the USDollar secured its strongest two-week rally since the May 2015 climb forestalled a bearish reversal. British Pound Forecast - Mixed U.K./U.S. Data to Foster Range-Bound Conditions for GBP/USD Mixed data prints coming out of the U.S. & U.K. may foster range-bound ...
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