Gold Price Analysis


Euro Currency Trading

Gold Price Analysis

 

 

Gold Price Analysis, is an important thing. As many people hedge their wealth in gold, as a measure for a potential decline in their countries currency.

 

 

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Gold Price Analysis

 

 

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Gold Price Analysis

 

 

 

 

Gold Price Analysis

 

 

 

 

 

 

 

Gold Price Analysis

Gold Price Analysis

Gold Price Analysis DAILY MARKET REPORT
December 14th 2016

EUR/USD Gold Price Analysis

Gold Price Analysis

Major currencies remained confined to tight intraday ranges and closed the day little changed against the greenback, with investors side-lined ahead of the FOMC’s meeting this Wednesday. The US Central Bank is widely expected to raise its rates by 25 bps, from current 0.25% to 0.50% to a new target range of 0.50% to 0.75%. The movement has been largely anticipated, which means that the dollar is expected to post a limited reaction to the news, with investors closely watching the dot-plot, and any change in growth and the number of possible  hikes for next 2017. Also, the market will scrutinize Yellen’s wording, looking for any clues on what’s next in the Trump era.

Data released this Tuesday showed that German inflation rose 0.8% in November 2016 when compared to a year earlier, and by 0.1% in the month, matching market’s expectations. The ZEW December survey, showed that expectations remained unchanged at 13.8, although the assessment of the current situation rose sharply printing 63.5 from previous 58.8, indicating that optimism remains strong in the country. As for the US, The NFIB small business optimism index surge to 98.4 in November, a substantial gain to just above the 42-year average of 98.

The EUR/USD pair extended its weekly advance by a few pips, reaching 1.0668   before settling around 1.0620, presenting a neutral stance in the 4 hours chart, the RSI indicator heads modestly lower around 48, while the Momentum indicator loses upward strength above its mid-line. The price is stuck around a horizontal 100 SMA, and a few pips above the 20 SMA, but more relevant, barely 120 pips away from its year low. A hawkish FED can send the pair to fresh ones, down to 1.0460,  2015 low.

Support levels: 1.0590 1.0550 1.0500

Resistance levels: 1.0650 1.0690 1.0730

Gold Price Analysis

Gold Price Analysis

 

USD/JPY Gold Price Analysis

The USD/JPY pair recovered some ground after trading as low as 114.73, settling around 115.28, below the 10-month high reached this Monday at 116.12. The pair remained sidelined ahead of the FED’s monetary policy announcement this Wednesday, with  a 25 bps rate hike widely anticipated and the focus on the dot-plot and any signs over upcoming economic developments. Japan will release its Tankan report on manufacturing during the upcoming Asian session, expected to show a small improvement in the third quarter of the year. The Bank of Japan will likely take notice of the report in its upcoming economic policy meeting, but chances that the report can actually move the pair outside its recent range seem unlikely, as investors will keep on waiting for the US Central Bank announcement. The 4 hours chart shows that while price remained in a tight consolidative stage, technical indicators have corrected the extreme overbought conditions reached at the beginning of the week, with the RSI heading modestly lower around 57 and the Momentum within neutral territory. The 100 SMA, stands around 113.50, although the key support, in the case of a dollar’s sell-off, is 112.80, December low. To the upside, 116.60 is the level to watch as a break above it will open door for a steeper recovery towards the 120.00 region by year-end.

Support levels: 114.85 114.40 114.00

Resistance levels: 115.50 116.00 116.60

Gold Price Analysis

Gold Price Analysis

 

GBP/USD Gold Price Analysis

The GBP/USD pair advanced up to 1.2727, with the Pound underpinned by higher UK inflation,  as headline CPI surge to 1.2% year-on-year in November, while core inflation reached 1.4%. The Retail Price Index in the UK also came above market’s expectations,  up by 0.3% in the month and by 2.2% when compared to a year earlier, indicating that consumer spending has not yet suffered the effects of higher inflation. Nevertheless, the pair erased its early gains to close the day flat in the 1.2670 region, still unable to settle above the 23.6% retracement of the latest bullish run at 1.2680. The technical picture continues favoring an upward extension, although with the FED in the way, things may get rocky in the pair. On a dovish FED, the Pound is set to break higher, with a key resistance for this Wednesday at 1.2793, July’s monthly low, and the level to surpass to begin thinking on 1.30. In the 4 hours chart, and despite the retracements, indicators hold well above their mid-lines, whilst the 20 SMA heads higher around the 38.2% retracement of the same rally at 1.2625. Below this last, the risk turns towards the downside, with scope to test a daily ascendant trend line coming from December 1st low, now around 1.2500.

Support levels:  1.2625  1.2570 1.2530

Resistance levels: 1.2680 1.2740 1.2790

Gold Price Analysis

Gold Price Analysis

 

AUD/USD Gold Price Analysis

The Australian dollar advanced up to a fresh 4-week high against the greenback, peaking at 0.7523 before retreating, still unable to beat strong selling interest in the 0.7500 region. The Aussie was backed by solid Chinese data, as November Retail Sales rose 10.8%, the most since last December beating expectations of a 10.1% advance.  Fixed asset investment was steady at 8.3%, as expected, while industrial output rose 6.2% in the same month, and when compared to a year early. The modest rebound of China’s economy may not be enough to confirm the economy resumed growth, but indeed helped to boost investors confidence. The Australian house price rose just by 1.5% in the third quarter, below market’s expectations of 2.3%, but investors pretty much ignored it. The technical bias is bullish according to the 4 hours chart, as the price remained above a modestly bullish 20 SMA, and the daily ascendant trend line coming from December’s low of 0.7310. Technical indicators head higher within positive territory, although the upward strength is limited at the time being. Below 0.7450, the immediate Fibonacci support, the pair can fall down to the 0.7360/70 region, while further slides will result in a retest of the mentioned monthly low.

Support: levels: 0.7450 0.7410 0.7365

Resistance levels: 0.7510 0.7550 0.7600

Gold Price Analysis

Gold Price Analysis

 

GBP/CAD Gold Price Analysis

The GBP/CAD cross extended its weekly gains up to 1.6698, but closed the day modestly lower around 1.6620, tracking Pound’s movements against the greenback for most of the day, as the Canadian dollar saw no action this Tuesday. The cross presents a modest downward potential, as in the 4 hours chart, the price retreated after faltering around its 200 EMA, while selling interest around 1.6660, the 38.2% retracement  of the latest bullish run remains strong. In the same chart, however, the price is above a horizontal 20 SMA, while technical indicators head nowhere within neutral territory. A multi-week low has been set this Monday at 1.6494, the level to break to trigger additional slides towards the 1.6390 region, the 61.8% retracement of the same upward move. Above 1.6720 on the other hand, the risk turns towards the upside, with 1.6800 as a possible bullish target for this Wednesday.

Support levels: 1.6600 1.6550 1.6490

Resistance levels: 1.6660 1.6720 1.6775

Gold Price Analysis

Gold Price Analysis

 

Dow Jones Gold Price Analysis

US indexes closed in the green, with the Dow Jones Industrial Average steadily approaching the 20,000 level. The benchmark added 114 points or 0.58%, to close at 19,911.21, while the Nasdaq Composite added 0.95%, to end at 5,463.83 and the S&P added 14 points to 2,271.72. US stocks benefited by renewed dollar-denominated demand, with the Dollar Index settling above 101.00, and a recovery in European banks, which boosted investors optimism. If US equities can keep rallying following a hawkish FED, the critical 20,000 level in the Dow will be largely surpassed before the year’s end. The daily chart for the DJIA presents a strong upward momentum, with technical indicators maintaining their upward slopes within extreme overbought territory. In the 4 hours chart, the 20 SMA has gained bullish strength below the current level, now around 19,766, while the RSI indicator has lost upward strength, but holds around 83, and the Momentum indicator hovers above the 100 level, with no clear directional strength, rather reflecting the limited intraday range seen in the index lately than suggesting upward exhaustion.

Support levels: 19,873 19,820 19,750

Resistance levels: 19,955 20,000 20,080

Gold Price Analysis

Gold Price Analysis

 

FTSE Gold Price Analysis

The FTSE 100 rose 78 points of 1.13% to close at 6,968.57, its highest since early November, underpinned by a rally in bank-related equities, which followed the lead of their European counterparts. Standard Chartered gained 2.3%, followed by  Lloyds Banking Group that rose 1.91%, followed and Barclays up by 1.31%. Among the worst performers were mining-related equities, as metal prices plunged, with Antofagasta topping losers’ list, down by 4.65%, whilst Anglo American shed 2.60%. The Footsie has been a clearer laggard ever since US election, still below the 7,000 threshold, and the daily chart shows that there’s room for further advances, supported by technical indicators resuming their advances after an approach to their mid-lines. In the same chart, the index has held above its moving averages, with the 100 DMA at 6,858, a major dynamic support. Shorter term, and according to the 4 hours chart, the 20 SMA keeps advancing below the current level, but technical indicators have lost upward strength within positive territory. This last time frame also shows that there are multiple intraday highs and lows around the current level for the last two months, indicating that some follow through beyond the mentioned 7,000 level is required to confirm a steeper recovery over the upcoming days.

Support levels: 6,942 6,898 6,851

Resistance levels: 7,000 7,044 7,090

Gold Price Analysis

Gold Price Analysis

 

Gold Gold Price Analysis

Spot gold closed the day around $1,158.50 a troy ounce, giving up its early weekly gains, ahead of US policymakers decision this Wednesday. Despite a 25bps has been largely priced in, the bright metal is at risk of falling further as a rate hike is usually bad news for the non-yielding asset. Given that the commodity is steadily approaching to production cost, a sharp decline on an overly hawkish FED could be short-lived, as bargain hunting will likely appear after the dust settles. From a technical point of view, the daily chart supports a bearish continuation, as the price remains well below a bearish 20 SMA, while technical the Momentum indicator turned modestly lower within negative territory and the RSI indicator extends its consolidation within oversold levels. In the 4 hours chart, the price is a few cents below a modestly bearish 20 SMA, while technical indicators are aiming to recover some ground, but hold below their mid-lines.

Support levels: 1,152.00 1,146.80 1,137.90

Resistance levels: 1,169.80 1,175.95 1,183.00

Gold Price Analysis

Gold Price Analysis

 

 

Gold Price Analysis

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THE CLARITIQUE QUESTIONNAIRE

 

 

Gold Price Analysis

(for people desiring to squeeze more juice from life)

 

Gold Price Analysis

 

1. Can you share one Intention you most desire to achieve?

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Gold Price Analysis

 

 

Time v Income Reality Check

How much income do you earn per hour of work?
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Open to Change Check

What would your ideal scenario be?
What hours would you like to work?
What income would you like to produce?
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Get clear on your vision and mission. Your vision being what you desire at a level of your identity, and mission being why you want it.

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Gold Price Analysis


Gold Price Analysis
 

 

Forex Trading Today

Music and Trading

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Gold Price Analysis

Gold Price Analysis

 

 

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Gold Price Analysis

Gold Price Analysis

 

 

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Gold Price Analysis

 

 

Gold Price Analysis

 

 

Gold Price Analysis

 

 

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Gold Price Analysis

 

 

Gold Price Analysis

 

 

Gold Price Analysis

 

 

 





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