Tag Archives: Gold

Gold Technical Analysis

The sharp bounce from fresh 2014 and 4 year lows Friday and

The market continues to build its bullish USD position, drivingthe net position to a fresh high of $45.7bn;

EUR/USD has broken the hourly support at1.2440 (03/11/2014 low), confirming persistentselling pressures.

In the US we expect another strong labour market report for October thisafternoon,

Gold remains heavy as it trades at fresh 2014 and 4 year lows.

EUR/USD weakened yesterday but failed tobreak its recent low at 1.2440 (03/11/2014 low).

We expect the ECB to remain in wait-and-see mode at today’s meeting, as the impactof the latest easing measures is assessed.

Overall focus remains on the $1045.5 2010 low with the break and

EUR/USD has broken the hourly resistance at1.2544 (intraday high), suggesting a temporarypickup in buying interest.

EUR/USD is possibly testing resistance near 1.26 before down again…

In the US focus this morning will be on the outcome of the mid-term election.

Overall focus remains on the $1045.5 2010 low with pressure currently on the $1157.6 support.