The Momentum Trap: Gold's relentless rise could be fueled by a self-fulfilling speculative frenzy. This trend
Gold sell now 2382_2385
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Morning folks,
Although BTC situation is changing and not to the good (we've talked about last time), market now stands at strong support area. 59-60K is strong daily support and oversold level. While here, BTC has done "222" target, suggesting that at least 30% pullback, somewhere to 64-65K area is possible.
But, in longer term, drop under 60K will push price...
Gold line of defense against further advances. With markets stretched and in overbought territory gold may struggle to clear this barrier but in the event of a breakout we could see a move towards $2,500
Xauusd buy now_2372_2362
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BTCUSD On the other hand if the bulls are able to flip the previous high into support like they did with the support previously as highlighted in purple, then that would be a promising move Investors should watch for a decisive flip of the blockade into support A bounce atop this base would inspire more buy orders sending BTC price to the local top at least one
GBPUSD seen as the third leg Deeper decline would be seen to support and possibly bullish But strong support should emerge fromretracement of complete the correctional
EURUSD The latest inflation report for March spooked everyone showing consumer prices soaring by 3.5%, way above expectations What does high inflation mean It means the Fed's gonna keep interest rates high for longer to fight it As soon as that data hit you could practically hear the market's collective gulp with the EURUSD
Gold Geopolitical frictions in the Middle East have further bolstered gold although these risks have intensified only recently and haven't been a predominant theme for an extended period To add context investors have been nervous about Iran's potential retaliation against Israel following the bombing of its embassy in Syria Such action could escalate tensions in...
XAUUSD period off its best levels established briefly on Friday during the New York session when it toucheda fresh record Considering recent performance the precious metal has increased in seven of the last Eight
Morning folks,
So, unfortunately for BTC - it is traded 24/7, so while other markets were closed, BTC has taken all the mess from geopolitics. With recent collapse, it is logical to ask - where all those people who were taking about "safe haven", "gold replacement" etc...
Now due geopolitical turmoil in weekend, our short-term bullish context has been...
Morning everybody,
So, our H&S pattern starts perfect. The only thing that we've missed is the neckline top - we thought it should be around 71K but it has been formed around 73K, which is even better in perspective.
So, 2nd stage of the plan is done as well - right arm stands in place. We also have bullish grabbers on daily chart.
All this stuff, based on...
Gbpusd average This is generally a reversal pattern so we can expect the sellers to sell any rally now as they target a breakout below the support The price got a bit overstretched yesterday as depicted by the distance from the blue moving average In such instances we can generally see a pullback into the moving average or some consolidation before the next move
Gbpusd possible resistance zone around the level where we can also find the confluence with the red moving average This is where we can expect the sellers to step in with a defined risk above the level to position for a breakout below the support The buyers on the other hand, will want to see the price breaking higher to start targeting the trendline around the level
XAUUSD Strong Report A surprisingly strong jobs report could signal a resilient economy, leading the US central bank to hold off on plans to ease interest rates imminently This scenario should be down for the US dollar but is likely to put downward pressure on precious metals like gold and silver
There simply wasn't enough investor demand This lack of interest was probably due to the hope that inflation would slow bullish quickly and the economy would not suffering
Gold should remain supported as we head into the easing cycle but a more hawkish Fed could weigh on it in the short term In fact we can say that the
gold support leve 2320 zone bullish area target is 2370-2380
will likely decide its fate as strong data should trigger a hawkish repricing in the markets and weigh on theprice in the short terms while
Morning folks,
So, on Thursday we've suggested "60-67-60" action, and there are no questions to the first part. Indeed rally was really nice. But, the 2nd part of action from 67K down to 60K was based on potential weekly bearish engulfing pattern, if you remember. But it has not been formed as you could see.
Together with other bullish signs that it is too long...
Btcusd falls into The other important reason is that the US government may auction thousands of Bitcoins which it recovered following the collapse of Silk Road. The wallet holding these coins which are worth over $2 billion completed several transactions this week As a result this liquidation could lead to more Bitcoin supply which could affect its prices
