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Gold Rising After Stress Test Results Fail to Impress
Gold, after being unable to move above its 100-day moving average of $1257 and breaking below its important support zone at $1242, formed a very safe base near the $1230 level on the daily chart.
Is Gold Finally on the Rise?
Gold continued its strong uptrend in this morning’s session as most Asian markets witnessed a sell-off in the equities markets on Friday, which occurred due to a breakdown in the Dow Jones. Gold rose because the USD fell, causing traders to look for a safe haven.
Can The DAX Tumble Even Further?
The DAX tumbled in Fridays trading session on the back of news that Bill Gross, widely regarded as “bond god” had stepped down from Pimco effective immediately. Bill Gross in a statement said that he would be joining Janus Capital Corp. The slump on the DAX was largely on the back of a sell off seen in Allianz shares which constitute a large percentage of weight age on the DAX. Allianz is the parent company for PIMCO.
Dollar Support Sends Euro Lower
The currency pair closed marginally in the red, as the investors seemed to book profits from the recent rally in the U.S. dollar, the currency pair traded in a range of 1.2840 and 1.2903 and consolidated with a loss of 0.02% at 1.2847
Euro Remains Under Pressure But Is A Break Out Ahead?
The euro bounced back from 14 month lows against the dollar in the early morning trading session but many believe the gains are going to be capped as the expectations of an earlier than expected rate hike continue to remain. It is imperative to know that the Euro has been broadly under pressure since the European Central bank cut interest rates and introduced a loose monetary policy to kick-start a stagnating Eurozone economy.
Euro Breaks Supports on Fed`s Outlook
EUR/USD on the hourly charts had a very tepid trading session after the massive selling it witnessed yesterday post the Fed’s announcement
The Euro remained steady against the US dollar
The Euro remained steady against the US dollar even though the economic reports coming out of Germany with regards to the business sentiment index came lower than expectations. The current conditions came in at 25.4 versus a reading of 44.3 a month ago. The report is indicative of the stagnant Eurozone economy and points towards the fact that the European central bank would be forced to maintain its loose monetary policy even while the Federal Reserve might take steps towards rising interest rates and winding down its bond buying programme.
The Euro pushed higher against the dollar
Traders and investors would be closely watching the release of the Fed minutes post the FOMC meet to understand the future policy action of the Federal Reserve as many believe that the Fed would continue winding down its bond buying programme
Gold Trades Narrow But Can It Recover From a Three-Month Low?
Gold continues to consolidate and trade in a very narrow range of four dollars. XAU/USD opened at 1,254.85 in Asian trading session. XAU/USD has strong support at $1,245 levels which is critical for bulls. More upside in yellow metal would be seen only if it closes above $1,262 for two consecutive days than it can go up till $1,282 and $1,300 in near term.
EUR/USD Hits 14 Month Low, Further Declines Ahead
Trading in EUR/USD continues to remain subdued without much moment. However, Bulls had something to cheer for as EUR/USD gave a breakout above its 20-Day EMA on 15 minutes charts by trading above 1.28829.
Ukraine Crisis Pushes Euro Near to 14-month Low
It’s the kind of a day when EUR/USD has finally moved into positive territory on hourly charts. However, it is finding difficult to sustain at higher levels. Overall EUR/USD continues to remain weak and break of weekly low of 1.2920 would take currency pair all the way down to 1.2905 and 1.2890.
Gold Still Going Strong as Greenback Weakens
Gold continued its uptrend overnight and was able to break above the all-important resistance of $1242. The precious metal was significantly higher in the Asian trading session o due to higher than expected Chinese growth numbers which is seen as a huge overhang for global growth growing forward.
Gold Finds Supports on Chinese Demand
After yet another flat day of declines for the precious metal, Gold witnessed some buying interest in the overnight session. The buying interest has continued to be seen in the Asian trading session on the back of holiday demand and the re-opening of the Chinese markets. China, along with India are the largest consumers for the precious metal. The IMF downgrading global growth prospects regarded as a huge positive, as many believe that the equity trade might get unwound and traders might look at building on the safe haven trade.
DAX Downtrend Continues on Weak German Data
The DAX had a very volatile session once again yesterday following on from a busy previous week. After opening higher in the morning session it was catching up on the price action from Friday. The DAX was unable to hold onto gains and closed near the lows of the day. The DAX opened a percent higher in the morning but post the Factory order data which largely disappointed the street saw resumption of selling pressure which dragged the index lower. The Factory orders came in at 5.7 percent lower than those reported it August, the lowest level seen since January 2009.
Gold Heading Towards More Declines
Gold tumbled to 4-year lows in Fridays’ trading session. Traders and investors in Asia are continuing to witness the downward pressure on the precious metal as the dollar continues its uptrend against all major currencies, considered bearish for gold. Gold fell below the all-important psychological level of $1200 breaking the important support zone near the $1207. The Department of Labour reported that the US economy added 248,000 jobs in the month of September, this came in way higher than the consensus estimate of 215,000 jobs.
Gold Posts a Cautious Gain on Low Volume Trading
Gold prices were moderately higher in the Asian morning today but on low volumes. This is on the back of holidays in Hong Kong, China and India. Gold had a relatively flat to positive session overnight post economic data from the US led traders to sell the dollar and take some profits off the table. There was an equally large sell off witnessed in equities overnight which led many to position themselves in the relatively risk off trade in gold.
Gold Continues Downward Trend. More Declines to Follow?
Gold remained broadly under pressure in the early morning session today as investors kept a close eye on the dollar, which remained flat but continued to have a bullish bias. Gold witnessed a selloff in the overnight session on the back of weak global cues and a stronger dollar. Gold had the worst quarter since 2008, which is a huge cause of concern for bulls. The price action over the quarter is indicative of the waning interest in the precious metals basket.
Strong USD and Hong Kong Unrest Pushes Gold Lower
Gold prices were lower in early morning trade in Asia on back of the unrest in Hong Kong. Traders and investors are closely watching out for manufacturing data coming out of China to understand the underlying strength of the worlds’ second largest economy. Gold prices could not sustain at higher levels in trade last night as the dollar recovered from the early morning weakness.
Euro Lower on Draghi Comments
The Euro lost most of its gains yesterday’s trading session on the back of comments from the European Central Bank chief Mario Draghi who indicated that the Eurozone recovery was losing steam. In remarks to the European parliament the ECB chief reiterated that the ECB would take all necessary actions to kick start a flagging European economy. The euro found some support post the US existing sales data which showed that the housing sector, in the US wasn’t completely out of the woods.
DAX 30 Analysis
DAX 30 had a positive session yesterday. The index saw buying emerge at lower levels post the dip it had witnessed over the last couple of day
The DAX had a very weak session on Friday
The DAX had a very weak session on Friday closing at the day’s low which is a very bearish signal. The German index had been in a very strong uptrend over the last few weeks’ right from the time it made an intraday low at 8092 but is currently facing resistance at the upper end of the trading range. The selling pressure witnessed in Friday’s trading session was on the back of above average volumes which is a bearish indicator.
Will the Apple Event Inspire Further Record Highs?
Apple Inc. (NASDAQ:AAPL) shares gain near its 20-Day EMA which stands at $99.35 ahead of event this evening as the market expected for big announcement. Going forward the stock has strong support near $95, a level from where it has bounced twice in the past. Any big announcement will take the stock above $103.
YesOption Voted Best Technical Analysis by DailyForex
August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’
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