GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
OILEX LD ORD NPV, LLOYDS BANKING GROUP PLC ORD 10P, UK OIL & GAS PLC ORD 0.01P, VAST RESOURCES PLC ORD 0.1P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI)
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Looks like second attempt to push higher was stopped at 1300.
Price is currently at support of 1269 and should it break this level and hold then 1220 looks like an easy target.
A double bottom could be forming here (which could mean a push back up to 1300) but to me it looks like bears are still firmly in control.
Im still short biased as the recent bear candles are strong which is inline with the preceding selloff. Bulls have a lot of strong levels to break through. Bears have it a lot easier.
This could be accumulation though. Have to wait and see, Ill be cautious with longs.
Price respected fib extension and now rallying to resistance
With no major news releases coming up I think that gold is going to bounce around inside a zone for a while. Carving up all the hopeful traders and giving money to the clever range players.
1. Quiet week ahead
I will wait for price to break this range before taking a position. There have been 3 attempts at resistance which leads me to think that players need liquidity and will go hunting within this range
1. Bear trap. Price dug in to trap the shorts
2. very strong upward move here
If price breaks my level I will be looking for longs back up to 50 area.
1. I think if we continue to see dollar strength then the emerging markets will continue to weaken.
2. This is also a big round number level. Traders will be reacting here.
Hopefully a pinbar will give us an opportunity on this one.
Although price has reversed here a few times before, I would be watching for a push below this level as the big players look for liquidity. If price breaks 45 Ill look for opportunities to the 50 level.
A break below and the obvious target is 40.
Ill be watching this one closely.
1. Strong day level with 3 prior reversals
I will look for signs that price is rejected here. Hoping for a nice stop hunting spike through the level that will leave behind a pinbar or something
The only reason is that it is a day level and price has reacted strongly in this area in the past.
1. Price ranging on the daily
2. 3 x prior bounces
Price is pushing up very strongly so I dont want to simply enter short at this level but rather wait for signs, like a doji or pinbar.
1. Obvious uptrend.
2. Elections tomorrow. I think gold will go up whoever is voted in tomorrow.
3. 3x prior bounces off this uptrend line
1. Price in a downward channel has broken through.
2. If price breaks above the 76 level then it will confirm my bias for a trend continuation.
1. Obvious level where stops are all placed
2. Continued CAD weakness due to oversupply of oil.
1. Market is fear driven at the moment.
2. Price is trending up. This is a pullback.
This is a fundamental idea. Wait for some form of price confirmation and then go for it.
1. Price ranging in this zone on the 8 hour
2. What goes down must eventually come up
I will wait for confirmation of a reversal at10273 level before going long.
1. Obvious USD selloff
2. My line in the sand is 102.872. If price breaks through and rallys back I will short with target at about 101 level.
Strong 4HR level coming up. FOMC decision this evening. I doubt any major reversal will occur between now and election unless there is major good news for the US.
So I expect this Dollar weakness/uncertainty to continue until next week.