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forex-academy

Gold prices surged on Friday, held near the key $1,508 level amid trade uncertainties and ahead of U.S. Fed chair’s speech for clues on future rate cuts.

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The price moves in a triangular pattern. The long-term trend is bullish, but the price is overextended. But today fundamentals will play a main role. Traders are waiting to know which kind of FED monetary policy is ahead.

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On 4 hour timeframe, the AUD/USD has already violated the symmetric triangle pattern at 0.6765 and now it may go after 0.6740. Violation of 0.6740 can extend AUD/USD towards 0.6715, but be very careful during the New York session as Fed Chair speech may disturb the technical outlook.

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Litecoin MACD and Stoch are bullish, but it is finding difficult to continue moving up above $74.3. The descending trend is still making buyers sceptic.

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Ethereum is moving bullish , althouhg it is facing selling resistance at about $194 MACD and Stochastics are bullish

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The DAX futures (EUREX:FDAX) during this year gains 10.69% (YTD). In this post, we'll review what to expect from FDAX for the following weeks.

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The DAX futures (EUREX:FDAX) during this year gains 10.69% (YTD). In this post, we'll review what to expect from FDAX for the following weeks.

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XRP is still moving in an area of support. The large spike seen is a 1-second artefact. MACD stll bearish although its histogram show signs of recovery. Sthochastics still oversold.

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Sellers are dominating the last trading days, They wait for the right moment and dump their volume.Currently BTC is at a support area and trying to recover the 10K mark. MACD is bearish while stochastics on oversold levels, still, confirms the MACD.

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The FOMC minutes released this Wednesday from where the interest rate was reduced 25 bps. Federal Reserve members said that rate cut was a "recalibration" that responds to the changing market conditions.

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During the Wednesday session, Crude Oil (NYMEX:CL) futures have been traded mostly bullish. Previous to the Energy Information Administration (EIA) Inventories release, the crude soared to $57.13 per barrel, the highest level of the week. The EIA reported a reduction on the inventories to -2.732 million barrels, more than the 1.89 million barrels forecasted by analysts.

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The downward flag seems to be just a retracement of the last upward movement. The most probable outcome is a new visit to the highs made on Aug. 09. Indicators seem to agree with an upward movement. The other scenario is a visit to the 0.638 lows.

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Kiwi's price action seems to be a retravement of the sharp bounce after the large downward candlestick on August 07- Volume is decreasing. MACD is curving to find a bullish crossover. Stochastics on oversold area. The price action to the downside is weak.

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Litecoin is following the Bitcoin lead and has retreated 100% of his upward move. As we see MACD and Stochastics point to more drops. its next support is $72 and then $70.

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Ethereum is moving down and crossed below its descending trendline. MACD and stochastics point for ETH to move down to look for liquidity at what has been its supply area (cyan), between $179 and $175.

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Ripple has backtracked 100% of its previous upward movement. The price continues obeying the descending trendline. MACD is bearish, and stochastics is oversold.

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Bitcoin dropped with volume, breaking the ascending trendline. Currently, the price is holding at the $10,100 support. But the price seems dominated by sellers. MACD made a bearish crossover and the Stoch. is heading down.

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This chart corresponds to the second part of the analysis.