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There were many frequent attempts to break the level and current momentum in stocks suggests it is the right moment for gold to make a dip. Decline scenario is also supported by 3-MA looking to the downside. Currently the target is $1905.2 level. Stop at 1933.7.

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Trading plan After breakout of the range at the end of May, trend is clearly bearish. Fundamentals speak about selling bias too (Fed's Bostic comments, hints about more stimulus, partial lockdown reversals in the US). Bullish pullback has been completed completed in unusual double-top pattern which played as a trend continuation pattern (yes it happens...

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One of the most notable market events this week was renewed Gold momentum, sending price to a new 2020 high. It looks like bulls and bears argued for two months about the direction as the price stalled in the range between key levels of $1680 - $1745. Finally, sellers capitulated. Last month, around May 18, a failed breakout took place - it is clear that the...

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Commentary: - We can see that the pair has been in a state of decline since the end of November 2016. Despite some subjectivity, the indicated trend line touches four price extremes formed in the downtrend. - We can also see that the pair touched several times the level of 0.91500, which has established itself as a solid support level. - The drop below this...

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If you support this idea, please like this post. Thanks. Some fundamental insights UK PMI preliminary data for April were grim and indicated full depth of the shock caused by coronavirus. Looking forward, the data suggests that economic recovery in the UK may take longer than in other developed countries. Besides the obvious negative impact of lockdowns, we...

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Buy Gold, China activity will be hit badly because of the virus.The slack is expected to translate into other markets too. Cheers.

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So, we got December NFP on Friday and here are takeaways: New Jobs – 145K vs. 165K expected. BIG MISS! Wage growth – 0.1% vs. 0.3 expected. BIG MISS! Unemployment: 3.5%, unchanged from November. I managed to close my Gold position in small profit despite betting on the opposite NFP guess (ready my previous post). Subsequent price action indicated that the...

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NFP trade ⚡️ Guys I guess you are ready to trade NFP today. Moreover you could have already notice that I’m a big fan of Gold and today’s trade is no different. I’m going to trade NFP on Gold. First observation - Gold swaying near 1550 looks quite balanced and prepared for the event. Something tells me there should be some good reaction we have to be ready to...

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On the chart above you can see two falling wedges in the bullish market which resulted in two strong breakouts above EMA 50. This points to strong bullish pressure on the 15M chart. Also we see that RSI approaches lower bound (30 points) around which it is expected to rebound as it happened in three previous cases (shown by blue shaded areas). Note that RSI...

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General fundamental context: Expect global mini economic expansion in 2020. Yes, 2019 year, to the surprise of many, managed to avoid recession. Do you remember this extremely weird rally BOTH bonds and stocks? Investors were basically divided into two camps - doomsayers and smart and witty stock traders who almost blindly bet on Fed capitulation. Because of...

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Salute guys, Gold has been extremely erratic recently with a crazy "whipsaw" on Thursday putting bulls out of business. The news about cancelled December tariffs is just a part of the deal. Markets need more details as according to Fox Business correspondent Edward Lawrence (read his last tweets) there are no specific commitments from China on agro purchases...

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Hi Guys, The above GBPUSD analysis is mainly based on 1hr time frame and the 15mn timeframe is where we spotted clearly seen entry levels, stop levels and the take profits. The pair has been having a bullish momentum in higher timeframes, however if you try to look at the small timeframes like the one our analysis based on you can identify the pair reached a...

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In daily time frame it can be seen the pair had a well noticed uptrend with noticed HH and HL levels and later on started the consolidation/ sideways market structure which is the current structure. This sideways market structure which can be seen in daily timeframe has two key price levels the 1.99800 as the major resistance/supply zone and the 0.98650 as the...

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Hi guys, This setup is perfect not because E/U direction is clear, but because it will be SUPER-EASY to realise that you are wrong and this mistake will be CHEAP. But why? E/U closed above 1.10 last Friday and frankly I was tempted to jump in after the breakdown and bet on momentum that will drive pair lower at least till 1.0950. There was some reasonable...

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Hey guys, So here is the quick takeaway of today's mkt events. The dollar positions firm on Tuesday after the release of positive ISM in the manufacturing sector. From the key data on Monday: The rise in construction spending slowed to 0.0% with expectations of 0.3%, domestic vehicle sales were slightly lower than forecasts of 12.79M with a forecast of 12.94M....

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Hey guys, Its' been raining all the day so put your likes on this to save me from melancholy ;) So today we got a manufacturing PMI in the euro area signaling a rise to the highest since 2011, as European factories increase the demand for labor to absorb the growing number of orders. The index of purchasing managers from IHS Markit rose to 57.4 points in June...

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Hey guys, here are some thoughts for today :) So oil prices advanced in the Friday morning and head for the best gains since mid-May thanks to the production cuts in the US underpinning hopes for market rebalance. According to the Energy Information Administration (EIA), the US oil output fell by 100,000 barrels per day to 9.3 million barrels per day last week...

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EIA oil data failed to provide a pleasing print of changes in US inventories for investors, however, a slight increase in inventories allowed prices to expand rally, followed by bullish comments from central bank executives, hinting on growing demand for energy in the global economy. Meanwhile, production in the US fell by 100,000 barrels to the joy of OPEC...