Gold could encounter strong resistance at $ 1786/89

• Gold spot hit the target of 1766/64 but not quite as far as 1758/56. • Silver breaks strong support for a sell signal – holding below 2290/2300 is a crucial sell signal initially targeting 2230 and 2200. • WTI futures broke critical support at 6460/30 but bounced from 6243. Gold outlook is negative, soContinue reading “Gold could encounter strong resistance at $ 1786/89”

EUR/USD Price Analysis

EUR/USD looks to leave behind two consecutive sessions with losses. If sellers regain control, the initial support comes at 1.1235. EUR/USD manages to bounce off the daily low in the 1.1280 region on Friday. Further downside is expected to meet initial contention around 1.1230 (November 30), which is the last defence for another assault toContinue reading “EUR/USD Price Analysis”

Exchange Rate Dips ahead of US Payrolls.

The Pound US Dollar (GBP/USD) exchange rate is rangebound this morning ahead of US non farm payroll figures scheduled to be released this afternoon. At the time of writing, the Pound US Dollar exchange rate is trading at around $1.3280 and is lacking direction. The US Dollar (USD) is rising against the majority of itsContinue reading “Exchange Rate Dips ahead of US Payrolls.”

Five most predictable currency pairs.

1) AUD/USD: The Aussie dollar has been in the top rankings of predictability for several years, and for good reasons. This currency pair tends to travel in uptrends and downtrends which are easily defined, and when it moves out of them, the change of direction is abrupt and clear. Moreover, the Aussie is the bestContinue reading “Five most predictable currency pairs.”