Gold Price Outlook Mixed Despite Recent Rallies
The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.
The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUDUSD-bullish contrarian trading bias.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.
DJIA lacks an impulsive move lower which implies pressure on the market is sideways to higher.
Last week brought a strong turn-about in momentum from long-term resistance, shifting focus towards lower prices in the week ahead; ECB on tap for Thursday.
The US Dollar appears to have put in a tradable low and gold looks poised for higher prices; a rally in tandem looks to be in the works.
The EUR/USD price break higher has caught many traders off guard. Using Elliott Wave Theory, the pattern appears incomplete to the upside.
Oil has struggled for direction over the months despite the push and pull of OPEC, hurricanes and speculators. This past week frustration seemed to hit as futures traders posted the biggest net cut to long exposure on record.
The Euro is struggling to make continued headway after hitting the highest level in nearly three years against the US Dollar, with negative RSI divergence hinting at possible topping.
The ASX 200 has been in a narrow trading band since May. The charts don’t suggest any imminent change so that modest, 160-point range could still be all you have to play with.
Market poised to open slightly lower for the week, but market generally shrugging off North Korea; new record highs looking likely.
The Australian Dollarlooks poised to test the 2017 high against its US counterpart after finally breaking stubborn chart resistance below the 0.80 figure.