Weekly view – From a long-term perspective, the gold market is still trending south in our opinion. For this bias to be invalidated, a push above the weekly trendline extended from the high 1488.0 would need to be seen.
Recently, however, the buyers and sellers have been seen battling for position around the top of a small weekly demand area at 1170.3-1188.4....
Weekly view – The weekly timeframe shows that active buying recently come into the market a few pips from above a weekly swap level positioned at 1.5144.Assuming that the buyers can continue with this tempo, it’s possible we may see price challenge the weekly swap level 1.5451, or given enough time, the weekly supply area seen just above it at...
Weekly view – Essentially, the outlook on this pair remains positive. It is only once we see a close below the weekly swap level 115.50 will we be convinced the trend may be shifting.
Following the strong buying over the past two weeks, price continues to march north, pushing this market further above the major weekly supply area at 124.13-122.22. If this buying...
Weekly view – From a long-term standpoint, the trend on this pair is still southbound in our opinion, and will only change once price closes above the weekly supply area at 1.1532-1.1278.
Recent action, however, shows that the Euro is now trapped between a weekly swap level seen at 1.1051 and a weekly demand area coming in at 1.0519-1.0798.
Daily view: From this...
Weekly view – The weekly timeframe shows that the rebound seen from the weekly supply area at 1.5824-1.5634 extended lower last week, consequently forcing the GBP to close negatively at 1.5288. As per this chart, we see absolutely no reason why price will not continue to sell off this week down towards 1.5144.
Daily view: Following the break and retest of the...
Weekly view: The weekly timeframe shows that price recently pushed below a weekly swap area coming in at 1.5551-1.5391. This has potentially opened the gates for further selling down to 1.5144 – a recent level where serious weekly buyers came into the market.
Daily view: Following the retest of the recently broken daily Quasimodo area at 1.5478-1.5435, price has...
Weekly view: The weekly timeframe shows us that relatively strong buying interest came into the market twenty or so pips from above a weekly demand area seen at 1.0519-1.0798. If the buyers remain in control here, we might see price shake hands with a weekly swap level coming in at 1.1051.
Daily view: From the daily scale, we can see that the rebound from the...
Weekly view: The weekly timeframe shows that price recently pushed below the weekly swap area coming in at 1.5551-1.5391. This has potentially opened the gates for further selling down to 1.5144 – a recent level where serious weekly buyers came into the market.
Daily view: Yesterday’s action saw price close below the ignored daily Quasimodo area seen at...
Weekly view: Following last week’s close below the weekly swap level 1.1051, the Euro has so far continued to fall this week. Provided that the sellers can remain strong here, there’s a good chance price will be shaking hands with the weekly demand area seen just below at 1.0519-1.0798 sometime soon.
Daily view: The daily timeframe shows that a strong close below...
Weekly view: Following the break above the weekly supply at 1223.1-1202.6 last week, the gold market sold off taking back 50% of the prior week’s gains. Assuming that the sellers continue to show strength this week, we may see price challenge the swing low 1170.3, or even the weekly demand area seen just below it at 1130.1-1168.6.
Daily view: Over the past few...
Weekly view: Following last week’s rally seen from weekly demand at 118.22-119.40, price has now crossed swords with a long-term weekly resistance level coming in at 121.76.
Daily view: The daily timeframe shows that price action formed a bearish daily pin-bar candle within the confines of a daily supply area seen at 122.01-121.34 (surrounds the aforementioned...
Weekly view: The weekly timeframe shows that price is now trading within a stone’s throw away from a weekly Quasimodo resistance level coming in at 121.76.
Daily view: From this angle, we can see that price has now firmly shook hands with the daily supply area seen at 122.01-121.34, which, if you look back to the weekly timeframe, you’ll notice that this zone...
Weekly view: The recent selling from the weekly supply area at 1.1532-1.1278 has seen price attack the weekly swap level coming in at 1.1051. However, our long-term bias still remains south on this pair and will continue to do so until we see a convincing push above the current weekly supply area.
Daily view: After the Euro pair shook hands with minor daily...
Weekly view: Following the close above the weekly supply at 1223.1-1202.6 last week, the buyers already attempted to trade higher this week, but as you can see failed miserably. Overall, we still believe that the long-term trend on Gold is still firmly south, and will remain that way in our opinion until price closes above the weekly trendline resistance extended...
Weekly view: The weekly timeframe shows that sellers continue to push price south from the weekly supply area at 1.1532-1.1278, resulting in price now trading within a stone’s throw away from a weekly swap level coming in at 1.1051, and at the same time, wiping out any gains the market had picked up last week. Our long-term bias still remains south on this pair...
Weekly view: Following last week’s strong close below the weekly demand area at 0.9343-0.9180, relatively strong buying interest has so far been seen this week.
Daily view: (Slightly revised). From this angle, we can see that price is, in our opinion, trading mid-range between daily supply at 0.9411-0.9336, and daily demand coming in at 0.8982-0.9088 (surrounds a...
Weekly view: From a weekly standpoint, the trend on Gold is still firmly south, and will remain that way in our opinion until price closes above the weekly trendline resistance extended from the high 1488.0. At the time of writing, however, we can see that the bulls were clearly on form last week, consequently forcing price to close (1224.2) the week above weekly...
Weekly view: From the weekly timeframe, we can see that the Euro has rallied now for five consecutive weeks, subsequently forming higher highs each time. Last week’s candle, as you can see closed near it highs at 1.1442, deep within a weekly supply area at 1.1532-1.1278. This has been the most we’ve seen the EUR/USD rally since the market began to plummet back in...
