OANDA:XAUUSD Price was able to finally break the 1360 level resistance level which stood as a strong unbroken area a few years back. Breaking the 1360 cause market to rally strongly to reach the 1560 level before retracing back, Currently, the price is trading within a small downtrend channel with upper boundary around the 1480 and the lower boundary around the...
TVC:USOIL While The Opec leaders gather with Saudi officials trying to opt lower output to strengthen price, On the Technical side, Price is looking to trade sideways, it has been unable to push beyond the 60.30 and the 51.20 as buyers and sellers are unable to set a direction for price. a break to any of there levels should take price higher targeting close...
Gold 1.72% has dipped hard in the previous weeks moving south till it hit its target of 1160, this was due to mainly investors choosing the USD as a safe haven instead of the usual GOLD 1.72% , On the 1160 it was expected to bounce back after a strong move to the south. Last week it indeed moved north till it reached the 1200 where it should meet significant...
It looks like GBP might be looking for some quick pips against the USD. Trump in a Reuters interview has critisized the Fed's policy to hike interest rate, A comment that has taken its toll on USD on all pairs, as well as GBP Brexit Minister stating that still a deal on Brexit will be the likely outcome might help push prices higher. On the chart, we can see a...
FX:EURUSD The EUR faced a strong selloff since its break of a steep upward trendline last April when it broke below the 1.23 area. This slide continued aided with grim news of a Turkish Lira downward spiral which was ignited by a spat between the US and Turkey over a detained angelic pastor (Mr. Brunson) who the US demands his release and applying pressure...
FX:EURGBP As Brexit talks continue between the EU and the UK, the market is still not optimistic of any positive news to come out of these meetings. Still investors worry of a no deal Brexit as its beginning to be a scenario that might happen as negotiators from both sides still fail to agree on terms, The UK announced its lowest Unemployment numbers in 43...
FX:EURJPY EURJPY EUR was able to hold the selloff and move a bit sideways in last week, As the Turkish Lira's tumble took its toll on the EUR. But with a Qatari promise of 15 Billion USD investment as well as an announcement by the Central bank of Turkey of doing everything necessary to help support the Lira helped calm markets a bit. Price bounced off the...
TVC:GOLD Gold has hit the target of 1160 with heavy selling which it experienced over the week. USD is out performing almost all crosses, Also with Higher Treasury yield as well as Mr. Powell the chairman of the Federal reserve mentioning before in a congressional hearing that his confidence in a strong US economy will allow the continuation of interest rate...
Oil is being pushed hard to the down side, with the global trade dispute continuing between the US and China, Market worries is increasing of an overall Global Economic slow down which will affect the demand for the crude oil, which will cause prices to drop. Also with the US crude oil inventories rising week on week, posting last week an increase of around 6.8...