Gold-Tech

Gold-Tech

EURUSD is testing trend support, a second retest is formed and the chances of breaking this line are increasing. There is news ahead and if the market gets bad news for the euro, the price may break this area and fall to 1.075 on the background of the dollar growth Prerequisites for further declines: 1) The dollar is fundamentally stronger 2) NFP is ahead, which...

Gold-Tech Updated 

Gold is testing resistance before the publication of strong news in the US market. Most likely, based on the analysis of the fundamental outlook, the dollar may get bullish volume and start local strengthening. Gold in this case may lose its positions and after a false breakdown of 2050 or 2058 head downwards, accompanying the current trend direction...

Gold-Tech Updated 

The currency pair is in the bearish trend phase. During the day, the price is consolidating near the support level and is preparing for further decline, as several preconditions point to it: Prerequisites for further decline: 1) Retest of PDL 0.8615 support 2) Strong resistance area. Strong bears in the market 3) EUR looks weaker than GBP on a fundamental...

Gold-Tech

Gold receives fundamental support. And a break of 2050 resistance gives the market technical support. The price forms an impulse and heads towards 2065, which is a primary target, but not the main one. The primary target will be 2075 The nearest resistance may provoke a small correction to local (on M5) support lines before further growth to 2075. Prerequisites...

Gold-Tech

The US market got bad GDP data yesterday. This is well reflected in the euro and pound sterling as the base currencies of the forex market. The growth will continue in the medium term. The price fixing above the area of 1.27 - 1.273 will give a good signal for growth Prerequisites for further growth ↑ 1) bullish trend + favorable fundamentals 2) Breakout of...

Gold-Tech

Gold may be shaken by the news today. As the price can't get out of the flat 2020-2030 for a few days and the market is holding the price back strongly. Consolidation allows to accumulate potential for the market, but it does not mean that a break of one of the boundaries will send the price in the right direction. A false break of the opposite boundary may follow...

Gold-Tech

EURUSD is forming consolidation. In a few hours the US GDP and unemployment claims will be released. Analysts speak in advance about possible weakening of the dollar, in this case the currency pair may strengthen, but most likely it will follow after the retest of the trend support A pullback before growth may follow: 1) resistance retest leads to symmetrical...

Gold-Tech Updated 

Gold may decline a bit by 2030, then by 2015. On the chart we see a sideways range forming. A retest of resistance does not lead to success, but it forms a double top, which is a strong sell pattern relative to the strong level Reasons for further decline ↓ 1) resistance density 2045 - 2050 does not let the price in 2) A rebound and correction to support is...

Gold-Tech Updated 

The EURJPY currency pair may continue to fall as accumulation is forming amid the bearish trend. There is a weak flag on the downtrend, which is a set-up for further price decline. Besides, the false breakdown of resistance also indicates the market sentiment Reasons for further decline ↓ 1) range formation on the background of the dovntrend 2) resistance...

Gold-Tech

Gold in all likelihood may decline. On the chart, technically, there is a situation that may indicate that the price is preparing for further decline. Reasons for further decline ↓ 1) reversal setup 2) retest of support at 2020.13 - strong pre-breakout potential 3) negative fundamental background for gold 4) support breakout attempt may lead to a true breakout formation

Gold-Tech

The currency pair is forming a correction after a false break of the ascending channel resistance. The way is open to reach the lower boundary of the channel. The fundamental background is favorable for the decline, as the news strengthens the dollar, which affects the pound sterling. Suggested decline ↓: 1) false break of channel resistance 2) false break of...

Gold-Tech

Gold is getting stronger amid favorable fundamental background that emerged after the Fed chief's speech. He suggested for the future that they are preparing to cut the interest rate and the high dollar may come down. Speculators took this as a favorable wind and started buying the asset again Reasons for further growth ↑: 1) The market bought back half of the...

Gold-Tech

The currency pair continues to form a bearish trend. There are quite a lot of preconditions for further breakout. for example - breakout of 141.6 support will send the price even lower The beginning of correction ↓: 1) Dollar weakness after the news 2) Dollar weakness strengthens the Yen 3) A retest of 141.6 support will lead to a breakout 4) There is no...

Gold-Tech Updated 

The selling continues. Markets are leading the price towards the global target, where the rally started, due to heavy buying volumes. The weak fundamental background related to NFP, Initial Jobless Claims, supports the dollar, on which background gold will weaken The beginning of correction ↓: 1) Breakout of local support lines 2) Accumulation before further...

Gold-Tech

EURUSD is testing trend support. A false breakdown is being formed. It would be logical to buy against the uptrend support. But today CPI is published. The data may overshadow buyers, as inflation is still a problem. Analysts expect the CPI to rise, which may have a negative impact on the euro Growth with further support retest is possible: 1) False break of...

Gold-Tech

NZDUSD bumps into a strong resistance, where the third retest of the local maximum does not lead to a result and a reversal pattern is formed on the market, which goes to the stage of realization. False break of the channel resistance opens the way to the trend support. The beginning of correction ↓: 1) Triple top 2) False break of channel resistance 3) End of...

Gold-Tech

Gold will continue its decline. There are a number of reasons for this: Fundamentally, gold is weakening (Strong dollar from NFP) Break of 2009.6 support The correction wave continues its second part False break of 2067 Target support area 1933 The market closes Friday below the support level. But, a counter-trend spike is formed, which may trigger...

Gold-Tech Updated 

The beginning of correction ↓: Difficult situation. All the potential has been exhausted since the beginning of the trading session. But at the moment nothing but correction and selling should be considered. 1) Important level 2065. 2) retest and break of 2065 level will form sales and price correction to the support. 3) The market has updated the maximum of...