Thread: Adamant Finance - Daily Analysis

Technical Outlook January 20, 2017




EUR/USD





The currency pair declined sharply right after the end of the European Central Bank Meeting as the Interest Rates remained unchanged and the policymakers decided to continue this easy monetary policy according to our expectations. However, Market participants expected the ECB members to give some hints on the probability of the monetary policy to be more hawkish in the nearest future due to inflation growth. The price almost touched the lower side of the MA-channel but the currency pair went upwards during the American session. The main event for today is Donald Trump inauguration and we think that current fluctuations are influenced by this fact.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week but we think it is going to slow down this tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear. Today’s US President inauguration may have a considerable impact on fluctuations depending on what Donald Trump is going to say.



GBP/USD





The currency pair broke through the trendline and there was an opportunity to open short trades. This event resulted in 500 pips of eventual profit for those who risked to enter the market. There is no trend today and market participants are waiting for US President Donald Trump inauguration. It is better to avoid trading in this situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no direction of fluctuations last week but we think the currency pair is going to decline in the next couple of days due to a price gap that took place in the beginning of the week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



AUD/USD





There was no change in trend and the currency pair continued its moderate growth yesterday. USD dynamics is illogic due to US President Donald Trump inauguration. This was the main reason for a mistake in forecasts of further currency pair’s dynamics. We expect USD to grow anyway.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair continued its upside dynamics last week and we think it is going to slow down the local uptrend in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the Ma5 balance line. We advise to avoid trading today as the situation is still unclear.



USD/CHF





The currency pair was trading with the same pattern as EUR/USD did but we think USD/CHF is going to decline this week. However, it is better to wait until the end of US President Donald Trump inauguration to do any further steps. We advise to do nothing today as there is no clear tendency.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week according to our expectations. We think that USD/CHF is going to slow down its decline in the next couple of days as the currency pair is close to a strong support line.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading as the situation is still unclear.







Gold and Silver Technical Outlook January 20, 2017




GOLD (XAUUSD)





Gold offered an opportunity to open trades according to our recommendations from the broken through trendline with stop losses above the line. There was a possibility to take profit as XAU/USD declined for 9,5$. However, there was no further decline because of US President Donald Trump inauguration which is to take place today. It is better to do nothing today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we think it is going to continue in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



SILVER (XAGUSD)





Silver is following Gold but has not changed its tendency yet. We advise to do nothing today as the US President’s inauguration is to take place during the American Session.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth according to our expectations. We think it is going to continue in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the Ma55 balance line. We advise to avoid trading today as the situation is still unclear.

Technical Outlook January 23, 2017




EUR/USD





The currency pair was trading in both directions on Friday on the eve of the US President Donald Trump inauguration. There was no details on Trump’s plans to increase expenditures and to decrease taxes. US is still loosing positions after the inauguration speech. The currency pair is close to the upper side of the MA-channel and we give no recommendations at the moment.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week. We think it is going continue its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA5 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to take any decisions.



GBP/USD





The currency pair was trading in both direction for the same reasons as EUR/USD did. In addition, UK Retail Sales data was disappointing. However, this data had limited impact on GBP/USD as market participants paid attention to Donald Trump’s inauguration. The price is close to the upper side of the MA-channel and we give no recommendations.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading mostly with positive bias and we think it is going to continue its upside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55. We advise to avoid trading as the situation is still unclear.



AUD/USD





The currency pair is trading within a tight range and we think there is a probability of another upside momentum. AUD/USD was trying to grow but it still in the same range despite the decline of USD. You may try to open long trades from the MA55 balance line or from the trend line in order to catch eventual upside price momentum.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair slows down its upside tendency but we think it is going to resume its upside correction in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line or from the trendline. Place stop losses below those indicators.



USD/CHF





The currency pair started to decline after the US President Donald Trump’s inauguration and it continues its decline today. We advise to do nothing at the moment as the price is far from the balance line. There is no clear tendency.

There is the uptrend on the Weekly chart as the price is above the Moving Average 55 balance line. The currency pair declined last week and crossed its strong support line. We think that it is going to continue its downside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to open trades at the moment.







Gold and Silver Technical Outlook January 23, 2017




GOLD (XAUUSD)





Gold was trading in both directions on Friday because of the US President’s inauguration speech. There is some uncertainty as there was not a single word on Trump’s programme details. There are some risks that Gold is going to grow. However, Trump’s plans will be a strong obstacle for XAU/USD uptrend. The price is close to the upper side of the MA-channel and we give no recommendations. There is no clear trend and it is risky to take any actions in this situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAU/USD’s correction growth continued last week and we think Gold is going to move further upside in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



SILVER (XAGUSD)





Silver is trading within a limited range but there is a probability of an upside momentum in the nearest future. XAG/USD’s growth was not as strong as Gold’s one and you could try to open long trades. However, there is no clear trend and it is risky to take any trading decisions at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was some correction growth last week and we think it is going to continue in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. There is no clear tendency.

Technical Outlook January 24, 2017




EUR/USD





The currency pair continued its morning growth and almost reached its 2 month’s highs. EUR/USD established the uptrend and it is time to look for long trades. However, the price is close to the upper side of the MA-channel and the tendency is too strong that it is risky to open trades at the moment. There is an important Eurozone Manufacturing and Services PMI data today and this statistics is able to influence fluctuations. We think that those releases may result in some correction and there will be an opportunity to open long trades tomorrow.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside dynamics but it was in a very wide range last week. We think that EUR/USD is going to continue its upside correction in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



GBP/USD





The currency pair had a considerable growth yesterday as the Court of London announced that the British government is unable to bypass parliament and initiate Brexit without parliament’s approval. It means that the Brexit procedure may be postponed. It was too hard to open trades as the trend was too strong and we advise to take a pause and wait for better price position.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a strong upside tendency last week and we think that the currency pair is going to continue its growth in the next couple of days.

The currency pair is in the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to open trades, as the current tendency is too strong.



AUD/USD





The currency pair offered some opportunities to open trades from the MA55 balance line yesterday according to our recommendations. You had a chance to take some profit (about 400 pips) despite the fact that fluctuations were weak. There is a strong resistance on the way (Weekly chart) and we think that the currency pair is able to bounce off it if the price is unable to break it through in the nearest future.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair paused its upside correction last week but we think it is going to resume its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



USD/CHF





The currency pair established a downside tendency and we think it is time to look for short trades. However, it is better to wait until the price goes back to the MA55 balance line as it is still far from this curve.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined slower last week as we had expected and found a strong support level. We think that it is going to continue its decline in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the curve.







Gold and Silver Technical Outlook January 24, 2017




GOLD (XAUUSD)





Gold established an upside tendency and it is time to look for long trades. We think that XAU/USD is going to continue its growth but the situation is still unstable. We advise to wait until the price goes back towards the MA55 balance line and to look for long trades there.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we think it is going to develop in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve.



SILVER (XAGUSD)





Silver goes the same way that Gold does. There is the uptrend and we can see an upside pattern. We advise to wait until an upside momentum and take decisions if it happens.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve.

Technical Outlook January 25, 2017




EUR/USD





The currency pair moved to the balance line during a correction as we had expected it previously. Today it is time to look for long trades. Yesterday’s German and France PMI Manufacturing and Service data was disappointing. We advise to pay attention to German Business Climate IFO data today. There is no important statistics from the United States and we think that this Eurozone data will be the main driver. IFO Business Climate data may result in further upside tendency if it is better than expected.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week in a very large range. We think that it is going to continue its upside tendency in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to open long trades from the trendline or from the MA55 balance line. Place stop losses below those indicators.



GBP/USD





The currency pair was trading with a high volatility due to the event that was very important. British Court decided that the UK Government is unable to take any further Brexit steps without Parliament confirmation. It does not mean that Brexit is stopped or even cancelled. It means that the procedure is postponed. We gave no recommendations yesterday. However, the currency pair jumped off the MA55 balance line and moved higher for 1000 pips. You may try to open long trades today as GBP/USD is likely to continue its upside tendency.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside tendency last week and we think that GBP/USD is going to continue its growth in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the trendline or from the MA55 balance line. Place stop losses below those indicators.



AUD/USD





The currency pair had a sharp decline yesterday as it was unable to grow. AUD/USD tried to break through a strong resistance level but failed and moved lower. We think that the currency pair has two ways at the moment – to decline further or to continue its upside correction from the broken through trendline. We give no recommendations, as there is still no clear change in a trend.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair made a pause in its upside correction last week. We think it is going to grow again in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today, as the situation is still unclear.



USD/CHF





The currency pair went back towards the balance line offering the opportunity to open short trade from the MA55 balance line according to our recommendations. This downside move resulted in 300 pips allowing to take profit or to protect trades. We advise to open short trades from the trendline.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair crossed a strong support level last week. We think that USD/CHF is going to continue its decline in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. We advise to sell from the trendline. Place stop losses above this line.







Gold and Silver Technical Outlook January 25, 2017




GOLD (XAUUSD)





Gold declined to the balance line according to our expectations. There was an opportunity to open long trades from the MA55 during the European session. XAU/USD’s price had a 5 USD’s growth and it was enough to take some profit or to protect trades. Gold broke through the trendline and stopped its upside tendency today in the morning. We think that XAU/USD is going to decline towards the next support line on the Hourly chart and then it is going to grow again.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and it is likely to continue in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today, as the situation is still unclear.



SILVER (XAGUSD)





Silver was close to the balance line offering an opportunity to buy and the price was in the profit area for 17 pips. It was enough to take profit or to protect your trades. We think that XAG/USD is going to correct towards the trendline and it is better to do nothing.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD continued its correction last week and we think it is going to grow in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

Technical Outlook January 26, 2017




EUR/USD





The currency pair has got no support for further growth as German IFO Business Climate data was worse than expected. There was an opportunity to open long trades from the trend line but those positions closed with short stop loss. There is an important data today, that may influence fluctuations. However, we have no clear trend at the moment and it is better to wait until the currency pair resumes its upside tendency.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week in a very wide range. We think it is going to continue its upside tendency in the nearest future.

There is no trend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.



GBP/USD





The currency pair offered an opportunity to open long trades according to our recommendations from the MA55 balance line. GBP/USD still goes upwards and the profit is about 1600 pips. There was a possibility to take profit or to protect your trades. We think that the currency pair is going to grow until the European session when preliminary UK GDP data is going to be released. This statistics is able to provoke a correction.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think it is going to continue its growth in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



AUD/USD





The currency pair is still in a neutral position and it is better to do nothing at the moment. There is a holiday in Australia today and the currency pair dynamics is very weak. AUD/USD is trading below the broken through trendline and we think it is going to continue its decline in the nearest future. Anyway it is better to wait until the volumes are back.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair paused its upside correction last week and we think it is going to resume its upside tendency in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



USD/CHF





The currency pair is in a neutral position at the moment and the market situation is unstable. There was no opportunity to open short trades from the trend line as the price was far from this indicator. WE advise to avoid trading today as the currency pair is trading without any clear bias.

There is the uptrend on the Weekly chart as the price is above the Ma55 balance line. The currency pair declined last week and we think it is going to continue its downside tendency in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to open positions at the moment.







Gold and Silver Technical Outlook January 26, 2017




GOLD (XAUUSD)





Gold had changed it tendency and broke through the trend line indicating the probability of further decline. You may try to open short trades today from the Ma55 balance line. However, the chances are few that the price is going back to the balance line. We think that there is a high probability that Gold is going to continue its decline from the current level.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we thin XAU/USD is going to continue its upside tendency in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the Ma55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the curve.


SILVER (XAGUSD)





Silver crossed the ascending trend line on the Hourly chart and it is likely to decline. We think that the current tendency looks downwards and it is time to look for short trades.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. We had a correction growth last week and we think it is going to continue in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line today. Place stop losses above the indicator.

Technical Outlook January 27, 2017




EUR/USD





The currency pair established a new downtrend and we think it is time to look for short trades today. There was a good opportunity from the broken through trendline but there was almost no chance to open trades at that moment. We expect the currency pair to go upwards again and if it reaches the trendline, there will be another opportunity to open short trades. USD had an upside bias despite the fact that US data was worse than expected. Today’s US data is also important and may have a significant impact on the currency pair.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction in a wide range last week and we think it is going to grow in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.



GBP/USD





The currency pair moved downwards yesterday despite the better than expected UK data. GBP/USD “is trying” to break through the trend line today in the morning and we think that it is going to continue its decline. However, the upside tendency is strong and Bears are going to have troubles in their attempts to reverse the market. We think that the price is going to reach 1,26000 area after the breakthrough. We still have the upside tendency but you can try to open short trades already.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was in a strong upside tendency last week and we think that it is going to continue its growth in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open short trades from the broken through trendline. Place stop losses above this indicator.



AUD/USD





The currency pair declined yesterday according to our expectations. This downside tendency is weak. Today’s Australia data had almost no impact on fluctuations and we think that the currency pair is going to increase the speed of decline today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair paused its upside correction last week but we think it is going to grow again in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from 0,7530\40. Place stop losses above the MA55 balance line.



USD/CHF





The currency pair continues to be trading in a neutral position as the situation is still unclear. We think that market participants are going to try to break through the trendline and to develop an upside tendency. You may try to buy with low volumes from the broken through trendline (if it happens).

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week and crossed the support level. We think it is going to continue its decline in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to open long trades from the broken through trend line. Place stop losses below the MA55 balance line.






Gold and Silver Technical Outlook January 27, 2017




GOLD (XAUUSD)





Gold reversed downwards and crossed the trendline indicating the future bias of fluctuations. There is a possibility to open short trades from the MA55 balance line area today but risks are still too high. We think that Gold is going to continue its decline from the current level.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we think it is going to continue in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel looks downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above this curve.


SILVER (XAGUSD)





Silver crossed the ascending trendline on the Hourly chart and has the intention to continue its decline. We can see the downtrend and we think it is a good idea to look for short trades at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth last week and w think it is going to continue in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the Ma55 balance line. Place stop losses above the curve.

Technical Outlook January 30, 2017




EUR/USD





The currency pair slowed down its decline after worse than expected US Prelim GDP data. This data was disappointing as it was weaker than forecasts. We think that this statistics is able to stop USD growth until there will be other drivers to push US dollar higher. We advise to pay attention today to Personal spending data which is also may be worse than expected and push USD even lower.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair slowed down its upside correction last week. We think it is going to be trading without any clear direction in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. You may try short trades from the upper trendline on the Hourly chart. Place stop losses above this line.



GBP/USD





The currency pair failed to get back towards 1,26000 and there was no opportunity to open short trades according to our recommendations. We think that the upside tendency is going to proceed after Friday’s weaker than expected Us prelim GDP data. We also think that the currency pair is able to slow down its decline in the beginning of the weak as an option. However, pay attention to 1,26000-1,26100 are as here is a very important “check point” for the further currency pair growth.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen the currency pair to continue its upside tendency last week, but we think it is going to stop its growth in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading at the moment as the situation is unclear.



AUD/USD





The currency pair failed to accelerate its decline as we had previously expected but is trading within a range. There was an opportunity to open trades according to our recommendations but it resulted in a short stop loss.

The currency pair was in a range for the whole last week and we think it is going to run any direction in the next couple of days. We expect it to go downwards at the moment. However, everything may happen and we advise to hold the trigger.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair did an upside momentum last week. We think it is going to decline from the trend line in the nearest future.

There is no trend on the Hourly chart as the Ma-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.



USD/CHF





The currency pair continued to be trading with no clear direction on Friday. However, we think that the weaker than expected US Prelim GDP data is able to push the currency pair downwards in the next couple of days. Long trades failed to bring profit as there was fake break through and the price went back to this line without any further upside momentum. Those long trades resulted in a short stop loss, which was close to the strike price as we had recommended.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair ended the last week in a range but we thin it is going to resume its downside tendency due to the weaker than expected US Prelim GDP data.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear.






Gold and Silver Technical Outlook January 30, 2017




GOLD (XAUUSD)





Gold offered an opportunity top sell on Friday from the MA13 and the price was in the profit area allowing to take 3-4USD. However, weaker than expected US Prelim GDP data reversed the price upwards. There was an opportunity to protect your trades by placing stop losses at breakeven level. We think that XAU/USD is able to resume its upside tendency in the next couple of days.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The upside correction failed to proceed however, we expect XAU/USD to go upwards after a strong decline last week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.



SILVER (XAGUSD)





Silver offered an opportunity to sell from the MA13 and there was a chance to take about 10 pips of profit. it was enough to protect your trades by placing stop loss at breakeven level. We can see a sharp reverse at the moment and the price is far from the balance line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The correction growth stopped last week but we think XAG/USD still has an opportunity to resume its upside tendency after a significant decline in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.

Technical Outlook January 31, 2017


EURUSD



EUR/USD currency pair was trading with a high volatility after sharp declarations of a new US White House administration. Another reason why EUR/USD has those sharp fluctuations is the upcoming Central Bank meetings.

There are three of them this week – in Japan, United States and Great Britain. It was hard to open short trades according to our recommendations as the price did not reach the trendline. We advise to do nothing today as there is currently no tendency on the chart.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair slowed down its decline last week. We think it is going to develop a correction in the nearest future. However, there are still doubts on the direction of this correction.

There in no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

GBPUSD



The currency pair established a downtrend but it is likely to be short as nothing is indicating on a long-term downside tendency. 1,26000-1,26100 area remains untouched and this is another sign of weakness of a downside tendency. However, we think that today there are opportunities to open short trades if price allows to do it. It is better to trade before the American session.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Upside tendency continued last week but we think the currency pair is going to pause its ascending rush.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line area or from the trendline. Place stop losses above those indicators.

AUDUSD



The currency pair continues to be trading within a flat range. It seems like AUD/USD is ready to go upwards from this range. However, there is also a probability that the currency pair is going to stay within this flat range for a couple of days.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair did an upside momentum last week and we think it is going to move back from the trendline.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

USDCHF



The currency pair tries to establish a downside tendency after sharp fluctuations that we have seen yesterday. However, the price is still too far from the MA55 balance line in order to open short trade at the moment. We advise to sell the currency pair in case if the price is back to the MA55 balance line.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a range trading last wee but we think the currency pair is going to decline after Friday’s US Prelim GDP data which was worse than expected.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above this curve.




Gold and Silver Technical Outlook January 31, 2017


GOLD (XAUUSD)



Gold started to grow yesterday. This growth seems to be very aggressive and we think it is still not the right time to open long trades as the price is far from the balance line. However, you may try to buy from the MA13. Remember that risks are higher in this case. It is also to mention that thee are several important events this week and they may start influence Gold today in the afternoon. BOJ, FOM and the Bank of England Meeting may have a significant impact on XAU/USD.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no correction growth last week. We think that XAU/USD is going to move upside this week after a deep decline.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA13. Place stop losses below the curve.

SILVER (XAGUSD)



Silver is in a strong uptrend after Friday’s upside momentum. However, it was trading with no clear direction yesterday. The price approached the MA55 balance line. You may try to open long trades from the balance line today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was no correction growth last week. However, We expect XAG/USD to go upwards after a decline.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve.

Technical Outlook February 1, 2017


EURUSD



The currency pair did a sharp upside momentum and established the uptrend. The Eurozone data was better than expected. There is a growth of inflation and the reduce of unemployment level. A for the GDP, this macroeconomic indicator continues to grow for the fourth quarter in a row. The biggest economies manufacturing activity data is to be released today. We also advise to pay attention to the FOMC meeting which is to take place during the American session.

There is still the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair slowed down its upside correction last week. We think that it is going to develop its correction in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. The price is close to the upper side of the MA-channel and we give no recommendations in this situation as it is risky to take any steps.

GBPUSD



The currency pair offered no opportunities to sell before the American session from the MA55 balance line. GBP/USD reversed its tendency and moved upwards finally according to our expectations. We advise to pay attention to Manufacturing activity data (PMI’s) from United Kingdom and United States today as this statistics is very important for fluctuations. We think that the currency pair is going to continue its upside tendency.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen an upside tendency to develop last week. We think that the currency pair is going to slow down its upside correction.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line area. Place stop losses below the indicator.

AUDUSD



The currency pair continues its fluctuations within a previously established range. AUD/USD is trying to break through upwards today and we think there is a high probability of this event. However, the price may continue its current dynamics. We advise also to pay attention to FOMC meeting as it may change the situation during the American session.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair moved sharply upwards last week and we think it is going to decline in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

USDCHF



The currency pair approached to the balance line yesterday but offered no opportunity to open trades as it was not close to the indicator. If you opened a position, you could take about 1000 pips as profit. We think that the price is able to move back towards the MA55 balance line and then to continue its decline. If this happens, we give recommendations to trade. However, you should remember that there is an important event (FOMC meeting) today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was no clear tendency last week and the price was in a range. We think that the currency pair is going to resume its decline after Friday’s US GDP data.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line area. Place stop losses above the indicator.




Gold and Silver Technical Outlook February 1, 2017


GOLD (XAUUSD)



Gold offered an opportunity yesterday to open risky trades from the MA13 and to take some profit (as the price moved for 16USD). The risk/profit ration was rather good (2/16). We think that XAU/USD is going to decline towards the MA55 balance line area, as this tendency is weak and unstable.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no correction growth last week. We think that there is a probability of an upside correction in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA5 balance line area. Place stop loss below the indicator.

SILVER (XAGUSD)



Silver failed to go closer to the MA55 balance line and offered no opportunities to buy from this indicator. The price moved upwards from the MA13. We expected that a downside correction was going to be deeper but XAG/USD ruined our expectations. We think that this correction is going to happen today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was no correction growth last week. We think that the currency pair is going to grow in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

Technical Outlook February 2, 2017


EURUSD



The currency pair declined sharply during the American session as the ADP non-farm employment data was significantly stronger than expected. Final result was higher than forecasts and this fact provoked USD growth as the currency has got a strong support from market participants. However, later the FOMC meeting results were released and USD was under pressure again as there was nothing new in FOMC members’ comments. Fed decided to leave rates unchanged and did no forecasts on its future activities on Interest Rates hike in 2017. The currency pair is able to continue its growth.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair stopped its upside tendency last week, but we think it is going to develop its upside correction (or even consolidation with no clear direction) in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line area. Place stop loss below the indicator.

GBPUSD



The currency pair was prone to further growth as the manufacturing activity data in UK met the expectations. GBP/USD continued its upside tendency after the UK data release. The currency pair was close to the MA55 balance line during the Asia session offering an opportunity to open long trades. If you followed the recommendations to open positions from the MA55 balance line, you could earn about 1300 pips as there was no correction. We advise to pay attention to the Bank of England’s MPC meeting, which is to take place during the European session.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen the currency pair to continue its growth last week. We think it is going to slow down its upside tendency in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We give no recommendations as the price is close to the upper side of the MA-channel at the moment. It is risky to open trades as there is a probability of correction.

AUDUSD



The currency pair has finally left its two weeks’ range during the Asian session. It is looking upwards as we had previously expected. However, we think that there is a probability of reverse and it is better to avoid trading at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair moved upwards last week and we think it is going to decline from the trendline in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.

USDCHF



The currency pair approached the balance line and offered an opportunity to sell according to our recommendations. However, an upside correction was deeper than we thought and stop loss triggered. The currency pair’s fluctuations seem to be strange as compared to EUR/USD. Anyway, we have a stable downtrend and we advise to retry short trades.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was trading in a range last week. We think that USD/CHF is able to continue its decline after the weaker than expected US Advance GDP data, released on Friday.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator.




Gold and Silver Technical Outlook February 2, 2017


GOLD (XAUUSD)



Gold declined towards the MA5 balance line according to our expectations and then resumed its growth as FOMC members have said nothing new on further monetary policy decisions and the dates of Interest Rates hikes in 2017. Previous decline was provoked by a stronger than expected ADP non-farm employment change data. There was an opportunity to buy according to our recommendations but this trade failed to bring positive results as the correction was deeper than expected. However, the tendency was predicted correctly.

There is the downtrend on the Weekly chart as the price is below the Ma55 balance line. There was no correction growth last week. We think Gold is going to grow in the nearest future after its decline last week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We give no recommendations as the price is far from the MA55 balance line.

SILVER (XAGUSD)



Silver is able to continue its growth today. We advise to open trades from the MA 13 (with high risks). Yesterday’s volatility was weak but we think it is going to grow today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was no correction growth last week. We think XAG/USD is going to grow in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA13. Place stop loss below the trendline.