GOLD stayed above 1131 invalidation level yesterday when it fell to 1142, where metal found some powerful buyers. Current bullish leg already exceeded highs from mid-November, which means that we can expect more upside now, especially if we consider that prices closed at the highs yesterday so bullish momentum is in play. Therefore, be aware of more gains but after a three wave set-back. Ideally we will see some retracement to 1180 area before next leg up begins, maybe even wave…Continue
Added by Gregor Horvat on December 2, 2014 at 9:03am — No Comments
Added by FuturesMO on November 30, 2014 at 3:46pm — No Comments
Unexpected monetary expansion from Bank of Japan sent global stocks higher. Treasuries are trading down, metals are following, while USD is looking strong especially against JPY.
USDJPY move to a new high of the year, now moving within wave (iii) that can reach levels around 112 where we see 261.8% Fibonacci extension target. Any downward pullbacks in the middle of this bullish trend will be just temporary corrections with limited downside.
USDJPY 1h Elliott Wave…
Added by Gregor Horvat on October 31, 2014 at 9:32am — No Comments
Commodity currencies are weak, with AUDUSD falling towards 0.8800 where wave (v) could look for some support. Trader need to be aware of an upward correction in days ahead, especially once 0.8895 swing is broken.
AUDUSD 1h Elliott Wave Analysis
Gold is trading in line with Aussie. On metal we…
Added by Gregor Horvat on September 25, 2014 at 9:38am — No Comments
Markets are very slow and ranged bounded ahead of highly awaited ECB decision. Traders and investors expect a negative interest rate on deposits. However, EURUSD may not fall as some would expect, keep in mind that this is already price in since last ECB meeting when EURUSD fell sharply just a few pips away from 1.4000 psychological level. We however, could see a spike to a new low, but I would really not be surprised to see a turn higher after the announcement and press…Continue
Can A Struggling Dollar Support Gold?
We have seen gold markets posting some strong rallies this week, with single session gains on more than 1%. There are a few different explanations for why this is happening, and most of the news headlines have focused on the turmoil in Russia and the Ukraine. To be sure, there must be some connection here, given the fact that safe-haven buying should be expected with the rising potential for extreme military conflict…Continue
Added by Richard Cox on May 23, 2014 at 9:00am — No Comments