Gold weekly price analysis

Further price decrease is not envisaged as the bulls’ momentum increases before weekly market closed and this may push the price to penetrate the $1,796 level, then, the resistance level of $1,831 and $1,873 will be the target. In case the $1,796 level holds, the price will continue its bearish momentum and may face theContinue reading “Gold weekly price analysis”

Reasons why U.S.A dollar shrugged off weak payrolls.

Job growth in the U.S. slowed significantly last month, with non-farm payrolls rising by only 210,000 in November, down from 546,000 in October. This was less than half of the 550,000 consensus forecast  The  U.S. dollar sold off when the numbers came out but recovered quickly for three reasons:    1. The unemployment rate dropped toContinue reading “Reasons why U.S.A dollar shrugged off weak payrolls.”

EUR/USD Weekly Price Forecast – Euro Goes Back and Forth for the Week

The Euro has gone back and forth during the course of the week to form a massive neutral candlestick, after the hammer from the previous week. At this point in time, the market looks as if it is trying to form some type of basing pattern, but the Euro itself seems to be very soft.Continue reading “EUR/USD Weekly Price Forecast – Euro Goes Back and Forth for the Week”

British Pound Continues to Slump Lower.

The British pound has drifted a bit lower during the trading session on Friday as we continue to see the US dollar picked up strength against most currencies. The British pound has fallen a bit during the trading session on Friday, reaching down to the 1.3250 level. There is a lot of support IHiunderneath inContinue reading “British Pound Continues to Slump Lower.”