Tag: XAUUSD

Weekly Currency (Futures) Outlook – Jun 13 – 17

Weekly Currency (Futures) Outlook – Jun 13 – 17

Technical Analysis
Weekly Technical Outlook for the currency and commodity markets. Euro: After falling steadily for nearly four weeks, the euro retraced its gains the week before. However, last week saw prices testing the highs above 1.140 but failed to gain higher. As a result the euro fell, to close the week at $1.1298. The retracement to 1.140 this week marks a correction to the upside and we could anticipate near term weakness to continue. The next key levels to watch out for are 1.120 and 1.10. Resistance: 1.140 Support: 1.120 Sterling: The sterling remains capped within a range with last week showing prices breaking out lower. While the sterling closed Friday at 1.426, a 6-week low. Further downside is likely in the near term, with 1.42 coming in as the initial supp...
Gold Analysis – A great Risk/Reward Trade in the making

Gold Analysis – A great Risk/Reward Trade in the making

Technical Analysis
The debate between Gold bulls and bears could perhaps be laid to rest in this very clear descending triangle chart from the daily time frame. With Gold having clearly broken the support level at 1283.6, the only way for Gold to head is down south. ECB's monetary stimulus package might have given Gold a short term boost but provides a good opportunity to sell the rallies. In the chart above, the descending triangle gives a target of $1184.86. We notice a minor bullish rally coming into play just near 150% distance to the target. With descending (or ascending) triangles, this is a usual norm, which allows traders to take a more confident trend. The red dotted lines at 1271.75 and 1267.71 is the most likely place for Gold to end its retracement rally. This level also coincides with ...
Is it time to invest in Gold?

Is it time to invest in Gold?

Trading Articles
People's fascination and wonder for this 'Yellow Metal' never shows signs of fading irrespective of how high or low Gold is trading in the markets. And this is partly due to the fact that people still consider Gold to be a much better investment than any fancy product our fiat money could build. And as we have seen from the Cyprus banking crisis, even "insured depositors" are at risk should things get any worse. Gold currently is in a downtrend, with prices averaging 1540 (with a further likely drop to 1535/37) for 10 ounces. Refer to the 5 year chart below. It was only two years ago that Gold prices peaked at 1855 (Oct, 2011) while historically, Gold hit rock bottom at 1300 in January, the same year. If we take an average of the high and low prices of Gold, we are somewhere in t