Tag Archives: t

Gold Prices Jump Amid Renewed Trade Concerns

Gold prices moved sharply higher during trading on Tuesday, with the previous metal benefiting from its appeal as a safe haven amid renewed trade concerns. After slipping $3.50 or 0.2 percent to $1,469.20 an ounce in the previous session, gold for February delivery jumped $15.20 or 1 percent to $1,484.40 an ounce. With the notable increase on the day, the price of gold for February delivery ended the session at its highest closing level in almost a month. The rally by the price of gold came after President Donald Trump suggested he might prefer to wait until after the 2020 elections to strike a trade deal with China. Trump told reporters at a NATO summit in London there is no deadline to reach a trade deal, adding, “In some ways, I think it’s better to wait until after the election.” “But they want to make a deal now, and we’ll see whether or not the deal’s going to be right; it’s got to be right,” Trump said. Trump claimed a potential trade deal is only dependent on whether he wants to sign it, because the U.S. is “doing very well” and China is “having by far the worst year that…

EUR/USD. December 3. Results of the day. Donald Trump continues to bluff in negotiations over a deal with Beijing

4-hour timeframe
Amplitude of the last 5 days (high-low): 19p – 33p – 20p – 47p – 87p.
Average volatility over the past 5 days: 41p (low).
The EUR/USD currency pair, which made an impressive growth on the first trading day of the week, completed it as expected on Tuesday, December 3, and the pair’s volatility again fell to its lowest values. Thus, as we have already said in the morning review, there are no special reasons for bulls to continue buying the euro, whether there were any or not. Yesterday, the upward momentum of the euro/dollar pair, from our point of view, was a mere coincidence of a whole group of factors that pushed the euro currency up. So? And then traders again refuse to buy the euro due to the fact that the European fundamental background remains extremely weak. Yes, business activity in industry showed some signs of recovery, as did inflation, which grew to 1.0% YOY. However, a recession is still observed in the production sector, not weak growth rates, and inflation is at extremely weak values that do not allow us to talk about the recovery of the EU economy. Thus, we believe that several…

Spain Unemployment Increases In November

Spain’s unemployment increased in November, data from the Ministry of Labor, Migration and Social Security showed on Tuesday. The number of registered unemployed increased by 20,525 in November from the previous month. The average increase in unemployment over the last ten years was 20,477. Nonetheless, the number of unemployed totaled 3.198 million, the lowest for the month of November since 2008. Compared to last year, the number of people out of work decreased by 54,683 or 1.68 percent in November. The youth unemployment, which covers persons below 25 years of age, decreased by 0.26 percent from the previous month. Unemployment in agriculture decreased 1,715 and fell by 607 in industry. Meanwhile, unemployment in construction increased 1,738 and by 23,934 in services. The material has been provided by InstaForex Company – www.instaforex.com…

USDJPY bearish pattern is being activated

In our previous posts I mentioned that USDJPY price has formed a bearish wedge pattern. We also noted that resistance is at 109.60-110.30 area, where price got rejected yesterday. Now price is moving below and out of the wedge pattern. This is a sign of weakness.Red lines – wedge patternBlack line – bearish divergenceUSDJPY is breaking support at the lower wedge boundary. Next support is at 108.20-108.30. If price breaks below 108.20-108.30 then we have confirmation of the wedge break down. Resistance remains at 109.90 now while longer-term resistance is at the 110.30 level. The sequence of higher highs and higher lows remains intact, as long as price is above 108.20. If this sequence gets canceled then we have confirmation of the break down and we should expect price to at least move towards 106.55.The material has been provided by InstaForex Company – www.instaforex.com…

Gold reaches second upside target of $1,480.

Gold price has reached $1,480 which was our target since we saw that the key support at $1,450-60 was respected. We noted on time the bullish divergence before the first leg up towards $1,478 and since respecting the recent lows we warned again of another leg higher towards $1,480-90.Green lines – bearish channel Red line – RSI resistanceOrange rectangle – targetGold price is moving higher today towards the upper channel boundary and major Fibonacci resistance at $1,490. From the end of last week and early this week we noted that we changed our view to short-term bullish and that the risk reward favored bullish positions. Now Gold is approaching important resistance area. If bulls manage to recapture $1,490-$1,500 then we could see Gold price move much higher. Until then we need to keep a close eye on the resistance as a rejection at $1,490-$1,500 would be a bearish sign.The material has been provided by InstaForex Company – www.instaforex.com…

BTC 12.03.2019 – Broken bearish flag in the overall downward trend

BTC has been trading sideways at the price of $7.292. The overall trend is still bearish and my advice is still to watch for selling opportunities. Downward targets are set at the price of $6.846 and $6.560.Ichimoku Indicator analysis:There is Kijun-Tenkan bear cross on the 4H time-frame, which is good indication for the further downside. I would watch for potential breakout of mini-support at the price of $7.200 to confirm downside continuiation and eventual test of $6.546 and $6.560.Resistance levels are seen at the price of $7.350 and $7.667.The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD 12.03.2019 – The breakout of the 1-month long symmetrical triangle to the upside, strong potential for test 1.3167

GBP/USD did breakout of the 1-month long continuation symmetrical triangle, which is good indication for the further upside movement. Watch for buying opportunities on the dips. Projected target is set at the price of 1.3170.MACD is showing increase on the upside momentum and new wave up, which is good confirmation for our long bias.Support levels are seen at the price of 1.2947 and 1.2877. Resistance level is seen at the price of 1.3167.The material has been provided by InstaForex Company – www.instaforex.com…

*Amended: Swiss Nov CPI Inflation -0.1% Vs. -0.3% In Oct, Consensus -0.1%

Amended: Swiss Nov CPI Inflation -0.1% Vs. -0.3% In Oct, Consensus -0.1% The material has been provided by InstaForex Company – www.instaforex.com…