With the index trading above its record high of the year plus the strong dollar signal, investors are anxiously waiting for the Fed's interest rate decision, in order to determine whether to invest or hold liquid cash in low risk securities, I.e Bonds...This anxiety, fuelled by a stronger dollar sees investors opting to hold their cash and sell off their stock...
Gold showing signs recovery in the recent week. If it retests and holds above US$1924.228 we can confirm that it will target the price of $1951.290. Another confluence to this is DXY's break below 105.366. If DXY rejects this level and shows momentum to the downside, it will be confirmation of the move on gold...
With the recent downward spiral of bitcoin crashing all the way to $24.7K ...I see a recovery eminent, preferably at the last demand zone of $24 773. This is also backed up by a wearing dollar that will result from the easing of interest Rates in the US economy.
A very impulsive reaction from that particular zone on the USDCAD. Although I shouldn't be surprised with the prospective dollar gains vs the falling price of oil dragging the CAD along...The previous impulse looked like it sparked a trend, and that particular zone would the lie in the first swing low( a very popular area for buyers). Confluence after...
Gold started to takeout a Monthly High that it has traded under for 6+ years as a result of bullish uprally starting in 2018-19. This momentum has shown no signs of stopping despite evidence of a bearish presence within the market. What we can enticipate now is Gold retracing to the4HR low to gather liquidity and allow sellers to take profit and then rally up with...
I'm expecting a massive storm on GBPUSD tomorrow following its approach on the 1.25 level.
The move is also in line with the xau/usd selloff predicted tomorrow(see below previous analysis).
I quick tip for traders I can give is the fact that Gold and GBP/USD are very much correlated and alot of the time the two charts look and move in the same manner( volatility...
After Gold retested the order block near HKEX:2000 and is showing signs of rejection to the up side. Also factoring in the bear momentum within the market, I think we will see a clear price drop for the day
GBP/USD to retest 1.22372 before bulls flood the market. With enough volume we should expect the move before the end of the trading week. Another confluence would be the recent uncertainty facing the dollar in recent week...
Our Analyst uncovered the possibility of a breakout of bearish momentum on oil after it broke below $77.88 following the events of last week...the only thing that can resuscitate bull momentum now is an aggressive break and close above key level 79.331 and sustain atleast HKEX:80 at close of the NY session later today...
Care to share your opinions?
Saw these gold buys after the market showed an imbalance on that upward wedge signifying that price is preparing to retest the brocken level. I'm expecting price to react accordingly with the analysis following the huge upswing in Gold due to the 'collapse of the dollar'
