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GOLD Analysis next weekWhile trade tensions have eased significantly in recent months, coronavirus has become the latest source of instability plaguing businesses and investors. The outbreak has certainly become worse since the current meeting has about 76,000 cases in China, 433 in South Korea, 109 in Japan and 15 in the United States. Preliminary evidence suggests that the Japanese economy may face challenges again at the present time. Japan's exports to China account for about 3% of Japan's total GDP, compared with the same figure from the US of only 0.5% of GDP, suggesting that the Japanese economy could be significantly more affected by outbreak of coronavirus in China. Gold has been up in line with the Sparta FX assessment process since last week, it seems that there is a rather close relationship between gold price and bank deposit & money Velocity. Last week's evidence for gold has risen nearly 70 (700pip). But to confirm this colleration, the gold must be verified before continuing to increase. All bigboys are waiting for prices to return to the beautiful regions for them to continue buying, but with prices last week reaching the highest level in 1649, the highest level has been established in the last 7 years. Last week, China started the race to reduce interest rates, then the gold price continued to rise 38 prices from 1611 to 1648. The Japanese bond bond yeild curve naturally decreased, so it was the basis for the premonition of the JPY is about to increase this is also a premonition basis and sparta FX said GOLD will continue to increase in the near future. Technical analysis GOLD price last week went very well with the Sparta FX comment, specifically, the gold price after hitting 1580 has risen sharply again. With the increase to 700 pips of continuous increase in a week, 5 D1 candles are all real body. This shows that the buyer (engufing, mazubozu) the highest milestone in the last 7 years partly reflects the psychology of investors who are concerned, so the gold price increase is also understandable. in the long term, only from the 1267 level to 1650 level, the gold has increased by nearly 4000 pips, only one deep decline from 1556 to 1446 is more than 1000pip, that is, only the decrease of 1 is 4 times the increase of GOLD. The question is very sustainable. With the weekly candle closing above 161x, the next medium term uptrend is set to be 1680-1700. At the moment we will not risk buying, expecting there will be a reasonable buy adjustment we wait to return to 50% candle last week belonging to fibo 61.8 GOLD buy around 1611-1613 SL 1600 TP 1636 TP2 1670
OANDA:XAUUSDLong
by MCHTRADING
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Analysis GBPUSD comeing colection information.Boris Johnson is about to make a motion calling for elections on December 12 Once again, the Brexit Drama will once again attract the attention of the public at the start of the new week with a lot of fluctuations surrounding it. In Brussels, European leaders will meet again to try to reach a decision on how long they will extend the Brexit deadline. Meanwhile, in London, Prime Minister Johnson will comment on an election to try to break parliamentary congestion from last week's votes on his Brexit deal. What can we expect from the EU? If no extension happens, the UK will leave without a deal this Thursday. Of course everything became more obscure when France suggested that the extension be only one month until November 30. However, the outcome is most likely to happen when European leaders have a little consensus in extending the deadline by another 3 months, to January 31, 2020. That means if a Brexit agreement can be ratified ahead of time, the withdrawal will take effect earlier than January 31, 2020 - or with other milestones such as December 1, 2019 and January 1. January 2020 is also mentioned, A warning likely to be applied in the extension is that the UK withdrawal agreement could be renegotiated again and there will be no extension. And this story will repeat itself. What can we expect from the UK? With a Brexit without a deal still unanimous, there will be no chance from the Labor Party that will assist Johnson in pushing for an election today. As such, 2/3 of the vote and unanimity will continue to put things in limbo. Even within the UK is also very confused. What happens after that for the pound? Uncertainty, uncertainty, and certainty are not certain In this way, and based on this ambiguity, we can see that the British pound will fluctuate not too much, between 1.27 and 1.30. The decline will begin to increase over time and if the situation continues, buyers become less confident with more uncertainty, and then a long-term discount cycle of the Pound may be expected. Brother. Analysis GBPUSD Looking beyond the d1 frame, the price has completely broken down of the previous downtrend line, the price completely broke out. H4 is gradually forming parterns, showing an upcoming short-term correction decline of GBPUSD, h4 the triangle waiting for a break can see GBPUSD after a 900pip up trend for 4 consecutive weeks. The last week was a bearish engufling tree that moved the price below the weekly support zone + basic information provided some support. The GBPUSD price cut is coming soon. Please note there will be an election coming up so be aware. GBP is now sideway. Sell GBPUSD 1.291x-1.292x SL 1.29600 TP 1.27500 Tp2 1.26288 Goodluck
Short
by MCHTRADING