Start your investment and trading journey with a deep education on financial market.
The beginner's guide to Forex market
Home > Market

Category: Market
Comex, Investing Strategies, Market, Market Hours, Technical Analysis
4 months ago by

XAU/USD Technical Outlook – 07, Aug

Gold Price remains well beneath the jungle of resistances surrounding $1,940-60, which in turn joins a comparative space towards the south before hitting $1,915 support to lure the XAU/USD sellers.

That said, Fibonacci 61.8% on one-month, around $1,935 by the press time, acts as the last defense of the Gold buyers, a break of which could quickly drag the quote toward $1,915 support confluence encompassing Pivot Point one-month S1 and one-day S2.

It’s worth noting that the Gold Price weakness past $1,915 will make it vulnerable to testing the $1,900 threshold.

Alternatively, Fibonacci 23.6% on one-day and 38.2% on one-week restricts the immediate upside of the Gold Price near $1,940.

Following that, the previous daily high and the upper band of the Bollinger on the hours chart could test the XAU/USD run-up near $1,948.

In a case where the Gold Price remains firmer past $1,948, the 10-DMA level of around $1,952 can check the metal’s further upside.

Above all, the middle band of Bollinger on one-day, Fibonacci 61.8% on one-week and 38.2% on one-month appear a tough nut to crack for the Gold buyers near $1,955.

In a case where the XAU/USD remains bullish past $1,955, the $1,960 resistance encompassing Pivot Point one-day R2 will act as the final defense of the bears.

Source: fxstreet.com
Forex, Gain and Loss calculator, Indices, Investing Psychology, Investing Strategies, Market, Technical Analysis
4 months ago by

EURUSD Technical Outlook – 1, Aug

The EUR/USD gave up some of Friday's gains after being unable to rise above the 20-day Simple Moving Average (SMA). It continues to approach an important uptrend line that stands around 1.0960/65, with a break lower increasing the likelihood of a slide to the July low at 1.0830. On the daily chart, signs are mixed, with Momentum with a downward trend hovering around 100, and the Relative Strength Index (RSI) moving south. Risks look tilted to the downside.

On the 4-hour chart, risks are also tilted to the downside, with the price below the 20-SMA and under 1.1000. A test of the mentioned trendline seems likely if the price drops below 1.0980. A slide under 1.0960 should increase the bearish pressure, exposing last week's low at 1.0943; below that, the next target is the 1.0900 zone. On the upside, a recovery above 1.1040 would improve the outlook for the Euro. For the pair to change the short-term bias to bullish, it needs to break above 1.1105, surpassing a downtrend line and key SMAs.

Source: fxstreet.com
Comex, Investing Psychology, Investing Strategies, Market, Technical Analysis
12 months ago by

XAU/USD Technical Outlook – 19, Dec

Gold price is seeing a fresh ray of light, as it closed the previous week above the critical 200-Daily Moving Average (DMA) at $1,786. That said, buyers could extend their control amid a bullish 14-day Relative Strength Index (RSI). The RSI is inching higher above the midline, currently standing at 57.98.

Meanwhile, the upward-sloping 50DMA has pierced the flattish 100DMA from below but traders await the confirmation of a Bull Cross on a daily closing basis. The immediate upside hurdle is placed at the $1,800 level, above which the December 15 high at $1,809 will be put to test once again. Acceptance above the latter could trigger a fresh upswing toward the multi-month high of $1,824.

On the flip side, the 200DMA resistance-turned-support could restrict any pullbacks. A daily closing below the 200DMA could challenge bullish commitments at the ascending 21DMA at $1,775. A decisive close below the 21DMA support will negate the ongoing upside momentum.
Comex, Investing Strategies, Market, News, Technical Analysis
12 months ago by

XAU/USD Technical Outlook- 14, Dec

Technical readings in the XAU/USD daily chart favor another leg north. Gold has broken above its former multi-month high of $1,810.08, an immediate support level, while it also extended its rally above a mildly bearish 200 Simple Moving Average (SMA). The 20 SMA remains far below the current level, recovering its bullish slope, while technical indicators resumed their advances within positive levels.

In the near term, and according to the 4-hour chart, XAU/USD lost momentum, but bulls retain control. The pair is well above bullish moving averages, with the 20 SMA gaining upward traction above the longer ones. Technical indicators remain within positive levels but turned lower, reflecting the ongoing slide rather than anticipated another leg lower.

Support levels: 1,810.00 1,798.70 1,786.15

Resistance levels: 1,824.55 1,833.10 1,846.20
Comex, Education, Investing Psychology, Investing Strategies, Market, Technical Analysis
12 months ago by

XAU/USD Technical Overview – 13, Dec

The daily chart for the XAU/USD pair shows that it retreated below the 200 SMA, which is now providing dynamic resistance at around 1,791.20. A more relevant one is the daily high of $1,797.10. The 20 SMA has turned flat below the current level but still stands well above the 100 SMA. Finally, technical indicators ease within positive levels, reflecting the ongoing slide rather than suggesting more declines ahead.

In the near term, and according to the 4-hour chart, XAU/USD is neutral-to-bearish. The bright metal has extended its decline below a mildly bullish 20 SMA, while the longer ones remain far below the current level. The Momentum indicator, in the meantime, is now flat at around its 100 line, while the RSI heads firmly south at around 46, anticipating a potential slide.

Support levels: 1,775.15 1,762.70 1,749.10  

Resistance levels: 1,797.10 1,807.30 1,818.90
Comex, Investing Psychology, Investing Strategies, Market, Technical Analysis
12 months ago by

XAU/USD Technical Outlook – 9, Dec

Looking at the daily chart, the renewed upside in the Gold price is likely to gain momentum, as bulls have recaptured the mildly bearish 200-Daily Moving Average (DMA) at $1,792.

With the 14-day Relative Strength Index (RSI) pointing north above the midline, Gold price remains on course to retest the five-month highs at $1,810. The next key resistance is seen at the upper boundary of the month-long rising wedge pattern, now placed at $1,816.

In case, the Gold price yields a weekly closing below the 200DMA on a renewed selling pressure, then the correction could resume toward the lower boundary of the wedge at $1,777.

Daily closing below the abovementioned rising trendline support could confirm a reversal to the ongoing uptrend, as it will validate a bearish wedge.

The horizontal (dashed) trendline at $1,725 could come to Gold buyers’ rescue, although they need to beat the bullish 21DMA at $1,767 first.
Comex, Investing Strategies, Market, Position Size Calculator, Psychology, Technical Analysis
12 months ago by

XAU/USD Technical Outlook – 8, Dec

Gold price regained the downward-pointing 21-Simple Moving Average (SMA) on the four-hour chart, now at $1,781, having defended that critical mildly bullish 50SMA support at $1,774.

Despite the downside break from the rising wedge seen earlier this week, bulls continued defying bearish expectations. Acceptance above the 21SMA will initiate a meaningful recovery toward the $1,800 mark. The next upside target is pegged at the multi-month highs at $1,810.

The tide seems to have turned in favor Gold buyers, as the Relative Strength Index (RSI) has swung back into bullish territory. The rising wedge breakdown on the four-hour chart remains in play, keeping Gold price on the defensive in the lower range of this week’s trading range so far.

On the flip side, a four-hourly candlestick closing below the 21SMA resistance-turned-support could reinforce the bearish momentum, bringing the 50SMA back on sellers’ radars. The horizontal 100SMA at $1,764 will be a tough nut to crack for Gold bears on their way to the $1,750 psychological level.
Comex, Education, Forex, Investing Psychology, Investing Strategies, Market, Psychology
12 months ago by

Week Ahead in FX (5, Dec – 9, Dec)

Major Economic Events:

RBA monetary policy decision (Dec. 6, 3:30 am GMT) – First up, we’ve got Australia’s central bank scheduled to announce their rate decision early in the week

Australia’s Q3 GDP (Dec. 7, 12:30 am GMT) – The action ain’t over for Aussie pairs even after the RBA decision, as the country’s third quarter GDP is up for release the next day.

BOC monetary policy statement (Dec. 7, 3:00 pm GMT) – Canada’s central bank is also expected to announce a 0.25% interest rate hike this week, slowing down from its earlier 0.50% rate increase.

U.S. leading inflation data – Uncle Sam has a couple of leading indicators on inflation to watch out for, namely the ISM services PMI due early in the week and the PPI report scheduled on Friday.

Chinese CPI and PPI (Dec. 9, 1:30 am GMT) – Weaker price pressures are eyed for China, as both the CPI and PPI might print subdued readings for November.

Source: forexfactory.com
Comex, Education, Investing Strategies, Market, Technical Analysis
1 year ago by

XAU/USD Technical Overview – 29, Nov

The XAU/USD daily chart shows another failure to hold above the $1,760 zone, a sign of difficulties for gold bulls. The positive for the yellow metal is that it remains well above the 20 and 100 SMAs. The Momentum indicator turned south, although it remains above the 100 level. RSI also is now pointing to the downside. The main trend remains bullish but the outlook favors some correction ahead while limited by $1,760. A decline under $1,720 would increase the bearish pressure.

In the near term, and according to the 4-hour chart, XAU/USD is pointing to the downside. The critical level in the chart is seen around $1,735 that should keep losses controlled. A break lower would put deteriorated further the outlook for the yellow metal, exposing the recent low at $1,720$. Technical indicators are directionless.

Support levels: 1,735.50 1,720.75 1,703.00  

Resistance levels: 1,760.00 1,771.10 1,785.00
Education, Forex, Investing Strategies, Market, Technical Analysis
1 year ago by

EUR/USD Technical Overview – 28, Nov

EUR/USD is displaying a lackluster performance in the Tokyo session after resurfacing from the critical support of 1.0382. The Euro pair is oscillating above the round-level support of 1.0400. The major is awaiting a potential trigger for a fresh impetus as the market mood is extremely quiet amid the holiday in the United States on account of Thanksgiving Day.

EUR/USD is playing with the 200-period Exponential Moving Average (EMA) at 1.0389 on a daily scale. The corrective move in the asset after printing a high of 1.0482 on November 15 to near 1.0226 has been supported by the upward-sloping trendline placed from November low at 0.9730. Going forward, potential resistances are plotted from June 27 high at 1.0615, and May 30 high at 1.0787.

The Relative Strength Index (RSI) (14) is oscillating in a bullish range of 60.00-80.00, which indicates that the upside momentum is active.

Back to Top
Product has been added to your cart
Close