After a busy week of central bank line ups last week, interest rate hikes and announcements of tapering the QE program, the week ahead promises to be a lot quieter despite a few central bank meetings lined up. The Bank of England and the Swiss national bank will be holding their respective monetary policy decisions this week. No major changes...

2018-06-18 John Benjamin Read more
forex weekly commodities wrap

Gold The yellow metal rose slightly this week, taking its cues from a weakened US Dollar which fell in response to the June FOMC meeting. The sell-off came despite the Fed raising rates as expected and upgrading its rate hike forecast for the rest of the year from one hike previously to two hikes. The weakness is reportedly due to President Tru...

2018-06-14 James Harte Read more
Gold bar

Technical Monthly: Potential reverse head & shoulders as prices trade within the monthly ichimoku cloud. A clear break of $1370 is required to confirm the formation. $1300 key support has been breached although losses have been limited. Weekly:  A possible medium term AB=CD formation has a measured move target of $1450. 2017/18 tre...

2018-06-22 Steve O'Hare Read more

Monthly: Trading within a corrective channel formation. Trend line resistance is located at 75.13. Trend line support at 53.62. Selling pressure from 72.88 has resulted in all the initial rally being overturned. The potential reversal is between the 50 and 61.8% pullback levels (of 67.06 and 769.70) Weekly:  Price action formed a bearish ...

2018-05-29 Ian Coleman Read more
Weaker US Dollar Allows Metal Recovery

Gold After suffering a sharp decline last week, A Weaker US Dollar Allows Metal Recovery including Gold. Prices were able to post a recovery as the US Dollar rally took a pause and softened somewhat. The release of the latest FOMC meeting minutes this week confirmed that most members foresee that a further increase in rates will “soon” be warra...

2018-05-25 James Harte Read more
Gold prices

Technical Monthly: Potential reverse head & shoulders as prices trade within the monthly ichimoku cloud. A clear break of $1370 is required to confirm the formation. $1300 key support has been breached although losses have been limited. Weekly:  A possible medium term AB=CD formation has a measured move target of $1450. Trend suppo...

2018-06-14 Steve O'Hare Read more
Mighty US Dollar Weighs on Metals

Gold Gold price cratered lower this week as the US Dollar enjoyed another week of gains as US Treasury Yield’s rose. The rally in USD came in response to the latest data showing that US retails sales rose for the second consecutive month over April adding further weight to the strength of the economic recovery in the US. Alongside the strong re...

2018-05-18 James Harte Read more
Oil prices rise on US withdrawal from Iran

Crude oil prices rallied last week to hit a three and a half year high after the U.S. President Donald Trump announced that Washington was pulling out of the 2015 Iran nuclear deal on Tuesday. Speaking at a brief press conference, Trump said that the U.S. administration will also be imposing more strict economic sanctions on the country. It g...

2018-05-16 John Benjamin Read more
French Election_Gold_2104

Technical Monthly: Potential reverse head & shoulders as prices trade within the monthly ichimoku cloud. $1300 continues to act as strong support. A clear break of $1370 is required to confirm the formation. Weekly:  A possible AB=CD formation has a measured move target of $1450. Evidence of a rectangle formation with support at $1...

2018-05-11 Steve O'Hare Read more