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January 3, 2017

Gold Price Awaits Data to Start 2017 Trading

Talking Points:

Gold Price Awaits Data to Start 2017 Trading US ISM Manufacturing is Expected at 53.8 Looking for additional trade ideas for Gold & Commodities?

Gold prices are trading flat this morning, ahead of today’s US ISM Manufacturing data. This is considered the first high importance US Dollar event for 2017 trading, and expectations are set for a release of 53.8. Any deviations from this value may directly affect the US Dollar, and the price of Gold.

Technically, Gold is considered in a long term downtrend as prices broke remain beneath its 200 day SMA (simple moving average) at $1,268.57. In the short term, the commodity is showing a bullish bounce off [...]

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December 29, 2016

Will the Dow Jones Industrial Average Sell Off Continue Today?

Talking Points

-Dow Jones Industrial Average closed down nearly 130 points and enters a support zone we cited yesterday

-Higher probability patterns suggest a reaction higher from nearby levels

-Pattern remains bullish while prices are above 18,600

In yesterday’s report, we identified 19,750-19,840 as a potential price zone Dow Jones Industrial Average (DJIA) may dip into.

The low of yesterday’s price action was 19,827, which is right into the upper portion of this zone. At this point, we cannot say for sure if price will bounce higher from these levels. However, the odds are shifting that a reaction higher may develop today. We do not think this [...]

5
 
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December 15, 2016

Gold Prices React to a Stronger US Dollar

Talking Points:

Gold Prices React to a Stronger US Dollar Intraday Support For Gold is Found at $1,128.28 Looking for additional trade ideas for Gold and commodities?

Gold prices are getting no relief in early trading today, as the market processes yesterday’s FOMC rate decision. While the event produced a 0.25% rate hike as expected, forward guidance is now leaning towards 3 potential rate hikes for the 2017 trading year. This policy move has caused the US Dollar to make significant gains and send commodity prices as a whole lower.

Technically, Gold prices are continuing to decline through every short term point of support intraday. Temporary support was found at [...]

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December 14, 2016

EUR/USD FOMC Technical Forecast

Talking Points:

The EUR/USD prepares to breakout ahead of today’s FOMC Event Daily breakouts may occur above 1.0873, or below 1.0503 What’s next for the EUR/USD? Read Our Euro Market Forecast HERE

The EUR/USD is setting up for a potential breakout, with today’s FOMC rate decision on the way. It is widely anticipated that the FED will increase the Fed Funds rate by 0.25%, causing volatility in US Dollar pairs. While a raise in rates is typically seen as bullish, many traders see that a lack of forward guidance may actually see the US Dollar declining.

Technically, regardless of the event outcome, the EUR/USD has the potential for a large market breakout. The pair has [...]

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