This is Weekly Market Wrap. It is not market analysis. Its purpose is to serve as quick overview of the close price for particular securities ending week 27th August 2021. Forex (27th August 2021): EURUSD – Close price = 1.17958 USD EURGBP – Close price = 0.85658 GBP EURCAD – Close price = 1.48739 CAD EURAUD – Close price = 1.61269 AUD USDGBP – Close price =...
Gold continues to rise and we remain bullish. Gold took off to the upside from the upper bound of downward moving channel. Current important area is around 1830 USD. If gold manages to break above this price level it will further bolster a bullish case for gold. We will view this as another confirmation of that gold bottomed out on 9th August. RSI is bullish....
West Texas Intermediate oil continues to march higher. Yesterday it traded as high as 68.51 USD. RSI continues to rise since 20th August 2021. Although, yesterday it started to flatten little bit. MACD's averages crossed and point to the bullish direction now. However, we need to note that MACD is still in the bearish zone. Stochastic is bullish. We will observe...
Many people asked us to analyze cryptocurrencies. Therefore we prepared our first bitcoin analysis for you. Recently bitcoin took off its recent lows around 29 000 USD. In the process it closed a gap between 46 620 USD and 48 370 USD. After that bitcoin peakead at 50 858 USD and then reversed lower. We think price level along the gap has an important role. We...
Gold took some step back after its breakout above 1800 USD. It currently trades around 1792 USD. We think upper bound of downward moving channel should be closely observed in the following days as it currently acts as immediate support for gold. Plunge below this level could lead to short term weakness. Although, we expect 1750 USD (previous support/resistance) to...
Orange has been trading sideways for month and half now. RSI and MACD have bullish direction despite price action lacking any trend at the moment (which is reflected in low ADX). Stochastic is also bullish. We think Orange has upside potential in medium and long term. Because of that we would like to set our medium term price target to 12 EUR per share. Current...
Orange broke above its short term resistance around 11.50 USD. At the same time Orange exited rectangle formation which may coincide with the beginning of new trend. Although, this has to be taken with caution as further confirmation is needed. In terms of the technicals RSI and Stochastic are bullish. MACD performed crossover above 0 points which is bullish as...
For last few trading sessions gold has been trading near the upper bound of its downward moving channel. Short term resistance appears between 1780 USD and 1795 USD while short term support sits near 1750 USD. There is also major support around 1678 USD. RSI is neutral to bullish at the moment. Stochastic is bullish. MACD is still below 0 but it has gained bullish...
This is Weekly Market Wrap. It is not market analysis. Its purpose is to serve as quick overview of the close price for particular securities ending week 20th August 2021. Forex (20th August 2021): EURUSD – Close price = 1.16995 USD EURGBP – Close price = 0.85808 GBP EURCAD – Close price = 1.50010 CAD EURAUD – Close price = 1.63778 AUD USDGBP – Close price ...
Gold's price has retraced back to its 20-day Simple Moving Average. RSI is flat. Stochastic is bullish. MACD is still in a bearish zone. However, its direction is to the upside. We will observe MACD for next few days. We will be looking for crossover above 0 points. This would be bullish developement and could lead to price increase above 1800 USD. Gold has...
USOIL continues its struggle to move up. Current important level to watch is 65 USD. If this level fails to hold then more downside is probable. RSI is flattening out. MACD and Stochastic remain bearish. Despite that we still remain optimistic on higher price of WTI oil in the future. Our short term price target remains 70 USD, medium price target 77.50 USD and...
This is weekly Market Wrap. Here readers can view price of particular securities at market close ending week 13th August 2021. Forex (13th August 2021): EURUSD – Close price = 1.17949 USD EURAUD – Close price = 1.59998 AUD EURCAD – Close price = 1.47591 CAD EURGBP – Close price = 0.84989 GBP USDCAD – Close price = 1.25135 CAD USDGBP – Close price = 0.72108...
Upbeat economic data and further progress in economic recovery will lead to decrease in the market volatility over time. Because of that we would like to set our short term price target for VIX to 15 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking...
Gold has rebounded from its recent low at 1677.686 USD. Currently it trades around 1750 USD. RSI reversed to the upside and crossed above 30 points on its way, showing bullish signs at the moment. MACD is flattening out. Stochastic oscillates in its lower area, although, it starts to show first signs of reversing to the upside similarly like RSI. First resistance...
USOIL struggles to move up since announcement of supply boost by OPEC. On 20th July 2021 price found its support at 65.11 USD. On 9th August 2021 price again dropped and halted its decline at 65.17 USD (6 cents above support). After that 2 trading sessions with higher low and higher high followed. RSI seems to develop similar pattern as price itself. It did not...
Many people may feel perplexed about yesterday's selloff in gold when price halted its decline at 1677.686 USD (after 4 bn. USD sell order hit the market). At some point a spread between bid and ask reached more than 35 USD (mainly around yesterday's low). Upbeat economic data with decreasing unemployment point to the steady recovery and lay out path for future...
Gold has been trading sidways for a while now. ADX contains low value which suggest neutral trend remains in place. In addition to that RSI, MACD and Stochastic are neutral. Despite current struggle in gold to move up we remain optimistic on future price of gold. Our medium term price target remains 1850 USD and our long term price target remains 1875 USD. Prior...
USOIL experiences selling pressure after its short rebound above 70 USD per barrel. Currently, price trades around Support 1. Next important level to watch is Support 2 at 65.11 USD. At the moment we expect this price level to hold. ADX is low which suggest neutral trend and thus sideways moving price action. MACD, RSI and Stochastic are all bearish on daily...