GOLD (XAUUSD) Weekly Forecast (15/01/2020-21/01/2020)

By Admin in Reviews 0 Comment

News and Data:

– January 08: US ADP Non-Farm Employment Change 202K vs 160K expected
– January 10: US Non-Farm Employment Change 145K vs 162K expected
– January 14: US CPI M/M 0.2% vs 0.2% expected
– January 14: US Core CPI M/M 0.1% vs 0.2 expected

Market Update:

Gold prices rose to seven-year highs around $1,613 an ounce last week after Iran attacked the US military bases in Iraq. However, gold is struggling to find its bullish momentum at the start of this week and apparently the prices has softened to around $1,540 an ounce as a reflection of geographical tension ease with Iran, and the signing of a phase-one trade agreement between the United States and China which has taken place nearly two years in the making. The details of phase-one agreement are unconfirmed but according to experts the agreements are split into nine chapters dealing with issues more…

GOLD (XAUUSD) Weekly Forecast (08/01/2020 – 14/01/2020)

By Admin in Reviews 0 Comment

News and Data:

  • CNY Caixin Manufacturing PMI 51.5 vs 51.7 expected
  • US ISM Manufacturing PMI 47.2 vs 49 expected
  • US FOMC Meeting Minutes expected to cut interest rate 2 times in 2020
  • US ISM Non-Manufacturing PMI 55 vs 54.5 expected

Market Update:

Gold price jumped over $1,600 per ounce this morning upon the news that AL Asad airbase in western Iraq has come under retaliatory attack from Iran. This action is viewed as the direct attack on American forces located in the region. Following the news of the attack, stocks prices dropped but oil and GOLD rose. Gold has bounced back around more…

Probably, USD has stopped its retreat

By GG Analyst in Reviews 0 Comment

USA

EURUSD

The pair started the week and continued its serious growth trend, but it could not keep this pace, having stumbled on Thursday. As a result, Euro dropped from the resistance area around 1.0760 almost by a figure. However, dollar bulls could not use the situation to the full extent: the pair stabilized and ended the week a bit above 1.07, actually where it has started the week. On the back of the above process, there was another series of highs renewals of the US stock indices. On Thursday and Friday, those processes a bit slowed down due to profit fixing, which more…

Dollar is returning to its usual ranges

By GG Analyst in Reviews 0 Comment

USA

EURUSD

EURUSD reached the area of 1.07 during trades last week. The chances for stable growth even higher are much bigger in the second attempt. The downtrend of the pair faded at the end of December. The renewal of many-years lows at the beginning of January, probably, turned out to a desperate attempt of bears to accelerate their attack, but it failed. Rally of dollar and stock markets caused by Trump’s election was quite significant, and now the serious correction is obvious, otherwise dollar and stock markets would need an important reason to continue growth. In such conditions the traders prefer more…

Trump’s rally reverse

By GG Analyst in Reviews 0 Comment

Trump rally

EURUSD

In case the first weeks of the year are showing us the reliable view of traders to the further trends, we should seriously be concerned by the weakening of the American currency. During the first week of the year EURUSD renewed many-years lows, but reversed towards the growth. It managed to accelerate its attack last week despite of some dropping in the middle of the week. Based on the price movements we may conclude that the pair is bought on drops, making the sequence of increasing highs and lows. So far this movement is considered as a part of profit fixing more…