Gold’s technical charts show how the financial markets are preparing for the Friday’s fundamental events. The picture is even considered by the Dukascopy analysts a proper example of educational material for the books. The rate recently reached the upper trend line of a massive long term ascending channel, where it was guided by a medium term ascending channel....
At the opening of the market this week we were originally expecting further downside on GBPUSD if the 1.29150 Friday lows got taken out. Since the market opening however we have formed a clear double-bottom, almost to the pip, at the 1.2915 level. A strong area of support has now formed in this zone between 1.2915 to 1.294 over the last week or so. With today's US...
Dear all, Major markets against the USD are at a turning point right now. I believe that the dollar have topped, at least in the short term in anticipation of a rate hike. Anyone who are long on the dollar have already bought them. The next FOMC on 14/15th December will most likely accelerate the downtrend, it is impossible for Janet Yellen to raise even 0.25%...
Fed Chair Janet Yellen said this week that a move next month is a “live possibility” if economic data hold up. It would be the central bank’s first increase since 2006.
Conservatively in my opinion Gold should be as high as US$3000 / ounce right now, it could even overshoot to as high as U.S$10,000 an ounce given mass speculation and bubble. Look beyond the current artificial or secular bear market of gold you call it, and lay down the price of Gold relative to the M1 money supply of the United States. Since the start of the...