Over 20 years in trading
I wrote in my analysis from June 30. that gold doesn’t show any signs of recovery and slowly falling each day. Today, the pressure is at 1162 level, previous support from June 05. This is support, but is it possible for turnover at all, bearish momentum and sellers pressure is huge. After the FOMC metting when FED decided not to hike,
Read moreCan we say that? It looks to me that this level at 1.1580/600 could support the Pound for now, from where the pair could try to recover to 1.5670!? Well, there is NFP coming today, that could be a trigger and it could brake this level if the data will be better, but let’s see until what will happen. The
Read moreIn the last two days, the US dollars bulls are stubborn and they don’t want to take a brake here. But, the pair is aproached previous resistance at 123.75/85 and H4 down trend line now. The pair pass true the H4 MA100&200 and that could be a solid support now at 123.00 if the pair retreet back. USD/JPY still didn’t cover
Read moreDaily MA 100 is placed at 1.1043 today and the pair opened the day above at 1.1050. For now, the low of the day is 1.1032 and it seams that daily MA 100 hold the pair on the way down. First resistance is placed at 1.1080, as you can see it was already hold on the way up. The level
Read moreGreek Prime Minister Tsipras has entered into negotiations as a lion, and slowly turns into a kitten. Market reacts sharply on each headline/news from Greece and it’s almost impossible to place yourself into a right possition. I know it’s hard, but technical levels work in both ways. Don’t run for the price if you’re not already in, because sharp reversals are
Read moreGold doesn’t show any emotions for events in Greece, on the contrary. Price surged on Sunday night to 1187 and then went back, even lower from Friday’s closing. There is no sign of the buyers at all, but the price is currently lying on the support level and trend line at 1168/70. Could this level help gold to bounce? Brake could lead the
Read moreThat was quick, 1.1130/40 supported the pair and pushed up strongly to the previous resistance near 1.1220, after wich the trend line retuned the pair down to the 1.1170, support for now. I was pointed this two levels in my previous analysis. What next? The pair looking bearish and if the bears can attack 1.1130 again, it may be broken. It
Read moreNot only that the pair is cooling off, it’s selling off hard! Well, some corection after yesterday’s abnormal growth was expected, but this start to looks ugly, again. 1.1130/40 is next possible and very important support after wich sellers could get more strenght and push the pair down to 1.1050/80. Well, if that happens, everything is possible, roller coaster ride
Read moreAmaizing performance and clear up trend today. Not only that the euro has covered complete loss of the Friday/Sunday opening to 1.1170, while the euro has reached 1.1204 high for now, with no retreet at all. Step by step up each now and then and here we are. There is no sign of weaknes at all, 1.1170 is first support
Read moreI am following the pair since opening last night, but still can’t find concrete technical levels to write about. The opening was fantastic with more then 170 pips gap in favor of the US dollar, at 1.1000. The euro has find decent buyers 50 pips bellow the opening level, at 1.0950 and after that 1.1000/20 was resistance until Europe was open. Surprise
Read morePBOC cuts Chinese interest rates again on Saturday to stimulate the economy. One year bechmark lendig rate cut by 25 bps to 4.85%, one year benchmark deposit rate cut by 25 bps to 2.00%.China’s central bank cut lending rates for the fourth time since November! From PBOC: “The interest rate and RRR cuts, will help stabilise growth, adjust structures and lower
Read moreReturning home on Saturday night, Tsipras went on television to declare a referendum on EU bailout proposal from creditors, set for July 05. Today, the Greek parliament with 151 votes easily gives green light to the same. Greeks are due to vote on whether to accept or reject the latest terms offered by creditors to Athens, in order to unlock billions
Read moreLet’s take a look at USD/JPY and gold at the end of the week. Both charts tell us that there no risk at all, despite all the drama which is presented from the Greece/EU deal. USD/JPY started the week with support from the previous week as well, at 122.55, after wich the pair has reached the previous resistance at 124.20
Read more
Forex Trader 