On the technical side the price on the fiber chart has found support on the 23.6% of the daily Fibonacci retracement level without being able to make a valid break below it for the time being. With the Stochastic oscillator near the extreme oversold level and the 50 day simple moving average trading above the…
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XAU/USD (Gold) The yellow metal kicked off the week in negative territory, down 0.6% heading into the afternoon session in the US. For those who read Monday’s Weekly Market Insight, you may recall the following (italics): It is all about the H1 Quasimodo resistance-turned-support at $1,857 and the 50-day simple moving average on the daily…
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XAU/USD (Gold) Although the price of gold is higher this week, momentum has been sluggish, consequently establishing a potential bearish flag pattern on the daily chart between $1,881 and $1,862. Rupturing the lower boundary, the said pattern not only permits chart pattern traders to project the pattern’s profit objective, it also exposes the 50-day simple…
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XAU/USD (Gold) The price of gold ended European trading considerably off best levels versus the US dollar on Monday after H1 price pencilled in a picture-perfect rejection from Quasimodo support-turned resistance from $1,879. This reaffirms not only the scope for short-term flow to zero in on H1 Quasimodo resistance-turned potential support at $1,857, it also…
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Britannia Global Masrket The Group’s brokerage business arm, Britannia Global Masrket Limited, has appointed Steve Pettitt as CEO. Current CEO, Ian Johnson will remain in his position until the transition is complete to ensure smooth handover. Pettitt currently serves as Director of Sales and has been instrumental in the growth of the company over the…
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S&P 500 Recent movement on the S&P 500 has largely been one sided since the index journeyed above weekly trendline resistance last week, taken from the high at 4,818. Up 2.7% on the week, the next level of resistance to perhaps throw a spanner in the works is Quasimodo resistance on the weekly scale at…
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The chart itself definitely suggests that the euro has reached a plateau and might decline in the near future. Momentum to the upside has been low since the middle of January and the price has hovered in overbought for weeks while volume and ATR have both dropped significantly. Based on TA alone, one might expect…
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European Shares Stock indices fell shortly after the opening bell in Europe on Monday, extending losses registered overnight in Asia, as traders brace for a busy week on the macro front. Real estate and tech shares registered the worst performances and drove most benchmarks lower, in potential profit-taking moves following last week’s rally and ahead…
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In short, the bank’s analysts believe that there is a possible path to a soft landing, but that this will be dependent on the Fed being able to tweak policy “just right” in order to stay on track. Even Larry Summers, who has previously stated that a recession was inevitable, has recently softened his own…
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However, the upside for the greenback is limited; a more in-depth analysis of the GDP data reveals that the growth was, to a large extent, driven by inventories, and therefore likely to fizzle out later in the year. Ricardo Evangelista – Senior Analyst, ActivTrades Disclaimer: opinions are personal to the authors and do not reflect the…
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