1 July, 2015
On Tuesday, August futures for gold on COMEX fell by 0.6% and the pair closed at 1172.10, 70 points below its opening. From the beginning of Asian session today, the price remains in the narrow range near $1173.60 per Troy ounce.
Important news from the US for today include ADP Employment Change for June (forecast +218 K) at 3:15 pm (all time indicated as GMT +3), Markit Manufacturing PMI for June (forecast 53.4) at 4:45 pm, ISM Prices Paid (forecast 51.0), ISM Manufacturing PMI for June (forecast 53.1), and Construction Spending (forecast 0.5%) at 5:00 pm. Non-farm Payrolls for June are due tomorrow at 3:30 pm. A growth of 230 K against 280 K for May is expected.
Should the actual figures match the forecasts, market expectations of interest rate hike in the US later this year would strengthen.
Support and resistance
As the USD is strengthening on the market, short positions are preferred in the pair XAU/USD.
On the 4-hour and daily charts, OsMA and Stochastic give sell signals. On the daily chart, the pair is moving along downward channel (green color) towards year’s low of 1149.50. The pair remains under the strong resistance levels of 1212.00 (EMA200), 1207.50 (38.2% Fibonacci), 1202.00 (EMA144), 1185.25 (23.6% Fibonacci).
Support levels: 1166.00, 1161.00.
Resistance levels: 1180.00, 1185.25, 1202.00, 1207.50.
Open short positions from the current levels and from 1185.25, 1190.00 with stop-loss at 1192.00 and targets at 1170.00, 1166.00, 1161.00, 1149.50.
Long positions can be opened after the breakout of 1202.00 with targets at 1207.50, 1212.00.
Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...
On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...
Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...
Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...
The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...
Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...
The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...
Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...
On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...