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
Precious metals markets had a very turbulent year in 2013, with both gold and silver having their first bearish annual interval since 2000. These apparent changes in trend have raised some critical questions for long term investors in these markets, and these are important questions to answer given the fact that precious metals assets are some of the most commonly traded instruments. Key examples here include the SPDR Gold Trust ETF (GLD) and theiShares Silver Trust ETF (SLV).…Continue
Added by Richard Cox on May 16, 2014 at 12:09am — No Comments
Looking at the events for Tuesday, 06 May 2014, we would have expected to see a normal, quiet trading day. Early in the morning, (for European traders) the RBA was announcing that they decided to maintain the official interest rate unchanged at 2.5%. A few new words in their statement were actually saying the same thing as the last statement said. In my opinion, from this point of view, there were no reasons to quit building long Aussie dollar positions.
If Tuesday would have been a…Continue
Added by Arenoosh on May 7, 2014 at 8:03am — No Comments
Yesterday some commodities fell sharply, and gold was no expectation. We have seen a very powerful bearish move away from 1330 that has unfolded in five legs so we think that this market will go even lower, but after a three wave bounce. We see nice resistance zone for wave c at 1310-1315.
GOLD 1h Elliott Wave Analysis…
Added by Gregor Horvat on April 16, 2014 at 9:44am — No Comments