GoldEW

GoldEW

The USD/JPY pair is poised to extend its decline, trading near its daily low. The 4-hour chart shows that the pair has broken below its 20 SMA, although the longer ones maintain their bullish slopes below it. Technical indicators head south near oversold readings without signs of bearish exhaustion. Support levels: 105.30 104.95 104.50 Resistance levels: 105.60...

GoldEW

A reversal pattern (red arrows) could take place via a head and shoulders chart pattern.

GoldEW

The breakout above the resistance trend lines confirms the continuation of the uptrend. Price charts and technical analysis The EUR/USD seems to have completed the wave B at the 61.8% Fibonacci support zone. Why? Because the strong bullish bounce is indicating the start of the wave C zigzag pattern. The breakout above the resistance trend lines confirms the...

GoldEW

BOND Bullish Banks are preparing for further disinflation, not inflation US Treasuries to remain well bid amid COVID-19 resurgence Speculation on lower rates as long as US economy struggles to recover European Commission to undertake borrowing on the capital markets for first time Fed's strategy is to avoid inflation expectations slipping ...

GoldEW

GBP/USD has surged well past 1.40, reaching the highest levels in 34 months. The bulls shrug off dismal UK retail sales data amid broad-based US dollar weakness. UK Markit's preliminary PMIs came out significantly above expectations. GBP/USD has been extending its gains and has surpassed the round 1.40 level. The move is primarily driven by the descent of the...

GoldEW

4h is looking to form inverted Head and Shoulder, the price should not go below 1770 for upside in coming week. After staging a sharp recovery from the lowest levels in seven months, gold prices are higher on Friday. XAU/USD bottomed at $1760/oz during the Asian session and then rebound. BEARISH THEMES Gold to fall on talk of Fed tapering As long as real...

GoldEW

A move to 90.00 seems to picks up pace DXY corrects lower from weekly tops just above 91.00. The 90.00 region is expected to hold sellers near-term. Big Picture USD BULLISH THEMES America is hiring and getting more stimulus Higher bond yields to prompt investors to re-think their strategies for 2021 The expansion of the Fed's balance sheet results in a rising US...

GoldEW

Key resistances and supports The Technical Confluences Indicator shows that gold is attempting a bounce from multi-month troughs, heading towards the major resistance at $1775, the confluence of the Fibonacci 61.8% one-day and pivot point one-month S1. The XAU bulls need a firm break above $1780 in order to extend the recovery momentum. That level is the...

GoldEW

Gold is forming Ending Diagonal of C, we are at wave d of C (highest 1802.23 (38.2%) or 1812.36 (50%) Note: this is not a signal, just a possible trade setups. All the EW is to me to a means of helping me identify positive trading opportunity(ies), I can identify a good positive risk/rewards ratio. * Where are you placing your risk, and where is the target...

GoldEW

The USD/JPY pair, for now, seems to have snapped five consecutive days of the winning streak. The pullback could be attributed to some profit-taking amid slightly overbought conditions on short-term charts. Bearish traders further took cues from a softer tone surrounding the US Treasury bond yields. That said, a combination of factors held bearish traders from...

GoldEW

USD/JPY pulled back from five-month highs of 106.22, now consolidating around 106.00, as the bulls gather pace for the next leg higher. The surge in the spot could be mainly associated with the rally in the US Treasury yields, as the domestic bonds took a beating amid fears of faster global inflation. The vaccine and stimulus optimism are spurring a wave of...

GoldEW

The greenback started the day with the wrong footing, falling against most major rivals but changed course with Wall Street’s opening, as US Treasury yields soared to fresh one-year highs. The yield on the 10-year note hit 1.292%, while that on the 30-year note moved stood as high as 2.095%. 61.8% retracement would be critical area

GoldEW Updated 

Even if the yellow metal manages to cross $1,823, a confluence of 21-day SMA and a six-week-old resistance line, near $1,838-40 will challenge the quote’s further advances. Also acting as an upside barrier is a falling trend line from January 29, currently around $1,846. Alternatively, a downside break of the immediate support line of $1,818 may eye for January’s...

GoldEW

US dollar index (DXY) consolidates recent losses around 90.27, down 0.10% intraday, ahead of Tuesday’s European session. In doing so, the greenback portrays a corrective pullback from the day’s low while stretching Monday’s downside break of an ascending trend line from January 13. Other than the clear break below the stated support line, sustained trading below...

GoldEW Updated 

Gold will rebound to 1826-1829 to complete non-standard correction of wave 2 Note: this is not a signal, just a possible trade setups. All the EW is to me to a means of helping me identify positive trading opportunity(ies), I can identify a good positive risk/rewards ratio. * Where are you placing your risk, and where is the target potential - absent where you...

GoldEW Updated 

Gold is correcting at small 4 of C, expecting to retrace @1797.58 consolidating complex correction wxyxz (triangle, zigzag,flat) - to complete w.C @ 1764(above) which is 61.8% fibo of W.1 Buy @1764 - 1777 area Stop loss @1750 Note: this is not a signal, just a possible trade setups. All the EW is to me to a means of helping me identify positive trading...

GoldEW

GOLD has completed the SHS pattern but we need to see the breakout below the neckline. Bears are having the upper hand. 1838-45 is the POC zone. We should see a break lower and a possible test of 1835, the neckline of SHS pattern. If the price breaks lower we should see a continuation down towards 1831, 1821, 1811 and 1801. This will complete both the Diving...

GoldEW

Gold prices are back to a familiar area, the 23.6% Fibonacci retracement of the 2015 low/2020 high range at 1832.48, as well as the 38.2% Fibonacci retracement of the 2020 low/high range at 1836.97. But this time is different than the last visit at the end of January: instead of support, this area is now resistance. Likewise, gold prices are finding former support...