Gold analysis for November 15, 2016

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Since our previous analysis, gold has been trading sideways at the price of $1,226.10. Using the market profile on 15M time frame, I found strong point of control at the price of $1,223.85. Watch for potential breakout of this level to confirm a downward movement. A downward target is set at the price of $1,211.50. Anyway, if the price breaks the level of $1,231.40, we may see a potential upward movement and potential testing of $1,252.00. read more

Global macro overview for 15/11/2016

Global macro overview for 15/11/2016:

The University of Michigan Consumer Sentiment Index was released at 91.6 points last Friday and today’s data of Retail Sales at 02:30pm GMT are highly anticipated. The reason behind the anticipation is quite simple: better-than-expected data might indicate that consumer spending will firm up in the final quarter of 2016. This is why economists are looking for another solid advance in retail sales for October. The market consensus suggests an advance of 0.6%, just like in September. Moreover, the anticipated gain indicates a 3.5% year-on-year rise, which would be the strongest annual rise in eight months. In conclusion, expectations are high and if the forecast holds up, the news will add more weight to expectations that the Federal Reserve is poised to raise interest rates next month. read more

EUR/NZD analysis for November 15, 2016

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Recently, EUR/NZD has been moving sideways around the price of 1.5135. Using the market profile on the 15M time frame, I found a strong point of control from the background at the price of 1.5185. I found successful rejection of the point of control. The pair is trading below 21SMA, which is a sign of weakness. Watch for potential selling opportuntiies on the pullbaks. A downward target is set at the price of 1.5045. read more

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The US and global economies have actually gained a lot of ground since the 2008 financial crisis. But anyone who thinks we’re on a steady path to the promised land clearly hasn’t been paying attention. Global economic growth has actually slowed to a crawl, inflation is sinking and consumer confidence remains low. Commodity prices are in their worst crisis of a generation and central banks are easing monetary policy at an alarming rate. The United Kingdom just decided to leave the European Union (EU) in a vote that has actually changed the fundamental outlook on the pan-European project. read more