Gold Technical Update

XAUUSD Closes in on 1800.00 XAUUSD finding resistance at 1796.00/1798.00 is tough going. However, as long as pivot support holds 1784.00/1782.00 the pressure remain to the upside and the 1800.00 barrier and beyond to 1808.00. Should we get another failure at 1798.00/1800.00 gold will slip back down to support at 1782.00 and possibly 1772.00/1770.00 inContinue reading “Gold Technical Update”

GBP in the Limelight

Bank of England Preview. The Bank of England will meet today and set monetary policy.interest rates will certainly be unchanged at 0.10%. However, it is the BoE’s 875 billion bond-buying programs, that is the real interest today. Some forecasters are calling for a cut in the buying to be signaled today.This would send the GBPUSDContinue reading “GBP in the Limelight”

Forex & Gold Technical Analysis

Daily Support & Resistance Thursday the 6th of May 2021 MAJORS USDJPY Resistance 109.60 and 110.10 Support 108.90 and 108.40 EURUSD Resistance 1.2060 and 1.2110 Support 1.1980 and 1.1930 GBPUSD Resistance 1.3930 and 1.3980 Support 1.3850 and 1.3800 USDCHF Resistance 0.9150 and 0.9200 Support 0.9070 and 0.9020 COMMODITY CURRENCIES USDCAD Resistance 1.2340 and 1.2390 SupportContinue reading “Forex & Gold Technical Analysis”

Forex Technical Update

Wednesday May the 5th, 2021 EURUSD While capped by resistance at 1.2060/80 the EURUSD remains under pressure. Support is now at 1.1980/60 the next downside target and should give the single currency a base, after breaking 1.2000. Sellers can now be found at 1.2020/30. Only a recovery back over 1.2060 will reverse the correction fromContinue reading “Forex Technical Update”

Gold Analysis May 5th 2021

Gold failed again to take out 1800.00 yesterday, and has since fallen back to support at 1772.00/1770.00 Buyers remain active on dips this morning and have take Gold up to test pivotal resistance at 1784.00. If the bulls can break here it will open up a run to 1790.00/1792.00, and even a chance of 1798.00/1800.00Continue reading “Gold Analysis May 5th 2021”

Daily Forex Support and Resistance

Wednesday the 5th of May 2021 FOREX MAJORS USDJPY Resistance 109.60 and 110.10 Support 108.90 and 108.40 EURUSD Resistance 1.2060 and 1.2110 Support 1.1990 and 1.1940 GBPUSD Resistance 1.3930 and 1.3980 Support 1.3850 and 1.3800 USDCHF Resistance 0.9150 and 0.9200 Support 0.9070 and 0.9020 COMMODITY CURRENCIES USDCAD Resistance 1.2340 and 1.2390 Support 1.2260 and 1.2210Continue reading “Daily Forex Support and Resistance”

Gold Short Term Outlook

Trading Gold was somewhat frustrating following the ultra dovish FOMC meeting. The outcome was supposed to see a USD collapse on the back of the clear message that, now was not the time to change policy, no tapering or thinking about the tapering of bond purchases by the Federal Reserve. Maybe, the market didn’t fullyContinue reading “Gold Short Term Outlook”

EURUSD is a top in place?

Whenever I think about Friday’s price action, I keep coming back to the same conclusion, it was a failure. A failure to hold 1.2060, and a loss of the upward momentum. Today we may see some early bargain hunters looking for cheap Euro’s, but I would expect gains to be limited to 1.2060/80 before downwardContinue reading “EURUSD is a top in place?”

The week ahead, much more than Just NFP

Forex and Market Outlook for May 3rd to 8th 2021 This week could well be very eventful from data, Central Bank meetings, and political risk. However, we should first look back at events last Friday when finally, the market responded to data, that throughout April had been overwhelmingly USD positive, but ignored as US BondContinue reading “The week ahead, much more than Just NFP”