GBPTRY has entered a bullish trend and MAs play a role of support structure that keeps the trend in its current direction. Considering MAs, one could also say that there has been a bullish crossing of 150 and 200 MAs. Moreover, since the green vertical line that identifies the beginning of the trend, RSI has never been below the red support line (could be seen on...
Simple Technical analysis: Fib Level (50.00%), downward movement, previous structure, MA as resistance along with crossing of MAs in a bearish direction; RSI and MACD do not indicate any support for long positions.
British politics and Theresa May's minority government might show instability and could push away investors from the GBP.
Technically: Fibonacci retracement level supported by MA which plays role of resistance, overbought RSI not likely to sustain the upward movement, same for MACD and Stoch indicators
Fundamentally: Rising OPEC output
Gold has started declining after failing to break 1300 barrier once again (despite the weak US Dollar). Green support line broken so expecting XAUUSD to fall in the short term.
In the long run, however, given Trump's unpredictable foreign policy and the tension with North Korea and Syria, Gold should be in the uptrend. Two possible reversal points in my opinion,...
The initial rise in value of GBP after the Election announcements has been offset by the outcome of the General Election on 8th June with Conservative Party losing its majority but still managing to agree with DUP to get their support to form a minority government. The initial reaction of global markets has been illustrated by a decline in GBP.
Pretty much self-explanatory, an upward trend with XAUUSD unable to set new highs, double top (which could be viewed as a triple or even quadriple top).
Important, unexpected Trump policy actions could have a different impact on GOLD. Should be bullish in the LONG TERM, this one is a SHORT TERM plan.
SPX500 reached an all time high and now bulls keep being rejected at 2280s level which appears to be a good resistance.
US Dollar entered a period of pressure and Trump already abandoned 'strong dollar' rhetoric saying that high USD value actually could be bad for US economy.
RSI pre-dominantly stays below 50% which further makes bull supporters question if there...
CADAUD in an upward trend since Nov 2016, way above 150MA. It keeps all possible retracement levels indicated by Fibonacci and finished above the red line which shows strong resistance/support.
Watch out for OIL prices since they can potentially influence CAD.
As expected, GBP increase could not be sustained at the beginning of 2017. GBPJPY keeps setting new lows, all eyes on supreme court appeal decision on Brexit.
Fundamentally, GBP is in a chaos and there are no reasons to expect a strong Pound Sterling entering 2017 given the indecisiveness of politicians and investors' unwillingness and disinclination to back GBP....
Trump backed USD is expected to be strong, and EURUSD pointing towards parity in the long run. Not yet, though. At least in the short term. There is still time until Trump officially walks into the White House.
Previous structure, Fibonacci (long term as well, grey line) and MAs could create a good long in the short term, until 1.07500 !!
XAUUSD saw a nice bounce up from the area of 1125-30. However, looking at structure and possible retracement levels of the downward move which started at 1340, we can see that GOLD was unable to beat 1180.
23.60% Fibonacci Level held its ground and there is important structure on the left hand side of the graph, highlighted in blue. Red line also indicates...
Trade based only on MAs: 150 and 200MA crossing. Worth attempting short here.
Let's see if only MAs themselves are a good trade strategy indicators
(Well, we also have good resistance tested on 23rd Dec)
EURJPY has been in a bullish trend for quite a long time (150MA above 200MA). On 16th Dec the pair failed to set a new high and since it has been setting lower highs. As shown on the graph, support was broken and tested (support became resistance).
Price below MAs, unable to get above them, 200MA crossed 150MA on 1h chart
Fundamentals: high x/JPY pairs hurt...
XAUUSD Analysis: Gold is still bullish until it reaches below 1100. After FED rate decision XAUUSD dropped from ~1160 to almost 1120. It couldn't break 1140 upwards despite the news of China capturing US drone in South China Sea. Still there are no sifficient bullish signs.
After previous week's little retrace I expect GOLD to keep going down. Short from...