Posts Tagged ‘Support’
London Gold Market Report
from Ben Traynor
BullionVault
Wednesday 25 January 2012, 08:30 EST
SPOT MARKET gold bullion prices dropped to $1653 an ounce Wednesday morning London time – down 1.7% from Monday’s high – while stock markets, commodities and the Euro all slid and US Treasuries gained after the head of the International Monetary Fund suggested the European Central [...]
We don’t see things as they are, we see things as we are. ~ Anais Nin Good morning. Dollar’s decline continues as euro just popped through $1.300 yesterday, recovering from early bids around $1.2900. USD Index As seen in the daily chart below, key support level formed by the horizontal line which was a temporary top [...]
It’s human nature to find patterns where there are none and to find skill where luck is a more likely – William Bernstein Good morning. Euro opened lower this week, erasing most of Thursday’s gains, therefore dollar index found support at 80: USD Index EURUSD 4hrs chart still looks bullish as current decline could be [...]
London Gold Market Report
from Ben Traynor
BullionVault
Wednesday 4 January, 08:30 EST
THE SPOT MARKET gold price ticked down to below $1600 an ounce Wednesday morning – having earlier touched its highest level since before Christmas at $1612 – while stock and commodity markets also edged lower as the US Dollar looked to have ended its recent spell of weakness.
The [...]
Most of the time the chart of the day is a discussion of a particular currency or pair and gives a longer-term outlook for where prices may be going. Today I am throwing a bone to the short-term traders by including this “teachable moment”. Not to mention that today is a range-bound, low volume day [...]
The greatest challenge to any thinker is stating the problem in a way that will allow a solution. ~ Bertrand Russell Good morning. Dollar pulled back yesterday as risk pairs rallied following stocks, hence my plans to look for selling opportunities on more AUD weakness are on-hold. Holidays are approaching, so it’s probably best to take [...]
Truth is the only safe ground to stand on. ~ Elizabeth Cady Stanton Good morning. Euro remains under pressure as rallies continue to face offers, hence selling strength is the best strategy to use nowadays in EURUSD. Some of the key events this week are the ECB, RBA, BOE Interest Rate Decision and EU leaders summit [...]
Quote of the day: “Statistics: The only science that enables different experts using the same figures to draw different conclusions.” ~ Evan Esar Good morning. Euro remains weak across the board although it bounced off support near 1.3400. The recovery is modest, so I believe that best thing to do is still to sell into strength. [...]
The British pound has held support vs. USD at just under 1.59 after the Bank of England made no change to its monetary policy, leaving rates unchanged at .5% and the asset purchase program at 275 billion. This has helped strengthen the Pound this morning after yesterday’s risk-based selling sent investors to the safety of [...]
Quote of the day:“Knowledge is the only instrument of production that is not subject to diminishing returns.” ~ John Maurice Clarke Good morning. Sentiment across the board is little changed since yesterday – EURUSD still trading in a narrow range between $1.37 and $1.38. CHF pairs are still in focus as the Swiss franc has lost [...]
