Tag Archives: Gold

Gold Technical Analysis

The lack of follow through on Friday’s spike above the 61.8% Fibo resistance and

A very quiet start to the week with no key data releases.

U.S. Review Economic Acceleration But Restraint Persists • The economy continues to show signs of acceleration this week,

• The market is shifting to an increasingly bullish view of the USD; with the net USD position rising to $26bn

EUR/USD is holding the low implied byWednesday’s hammer. Coupled with theproximity of the key support at 1.3296, a shorttermrebound is likely.

Gains continued for Gold Thursday following the recent flirtations with the 200-DMA.

The German trade balance for June is expected to show an increase in exportsand imports after both figures declined in May.

EUR/USD made a bullish intraday reversalyesterday (hammer). Coupled with the proximityof the key support at 1.3296,

EURUSD: Yesterday’s spring bottom (false downside break) certainlyargues for having entered an upside correction phase.

The main event is the ECB Governing Council meeting where we expect the ECB toremain on hold.

After the recent flirtations with the 200-DMA ($1284.3) and remaining capped at the 100-DMA,

EUR/USD has failed to break the hourlyresistance at 1.3444 (28/07/2014 high). Thesubsequent new (marginal) lows confirm anunderlying downtrend.