The European traders were on the Easter vacation yesterday.

7 April, 2015

General overview

The European traders were on the Easter vacation yesterday. The Non-Farm negative release confirms the US economy decline, caused by the revaluation.
In the light of this we expect the corrective movement continuation. There is ahead the strong resistance at 1.1050 and we believe this level will be tested in the short term.
There was the downward trend line of 1.0925 breakthrough. The trend line breakthrough signals towards the downward trend reversal.
The price is finding the first support at 1.0925, the next one is at 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150. There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden Cross”. The upward movement will be until the price is under the Cloud.
The MACD indicator is in a positive territory. The price is consolidating. 

Trading recommendations
After the trend line 1.0925 breakthrough upwards the way to the levels of 1.1050, 1.1150 will be opened.


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Gold price sharply dropped

Buyers continued to struggle with 1290. However, all their attempts faced sellers' resistance around the hurdle. The level rejected the price...

Sellers continued to dominate

The euro bounced from 1.1750 and weakened to 1.1700 during the night and morning trades. The resistance resides at 1.1750, the support comes in at 1.1700...

Gold prices extended their recovery

XAU/USD pushed away from 1260 and rallied towards 1270 dollars per ounce. The resistance exists at 1270, the support stands at 1260 dollars per ounce...


Gold prices turned around

Gold prices turned around when the spot reached 1265. Sellers drove the price to 1255 where they lost momentum. The precious metal returned to 1265...

Gold bounced off 1210 and rallied to 1220

The spot remained in a downward channel and just approached its upper boundary. The level rejected the price in the late European session...

Gold prices continued to consolidate

The weakness in the stock markets has helped to keep the prices buoyed but as the markets recover, we should see the gold prices come under pressure...


XAUUSD going downwards

Taking that into consideration looks as the market demonstrates its intention of sell-off start soon. Resistance is hold at 1250...

XAUUSD was moving aside

In order the long-terms traders are come back here the price might easily reach...

Pound continues to reach its heights

On Monday the British pound was going lower at opening...

  


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