Thread: Adamant Finance - Daily Analysis

Technical Outlook April 27, 2017

EURUSD



The currency pair declined sharply as market participants refocused their attention to Trump’s Tax Reform project and USD had some support. However, later, when the details of the project were released market participants have seen that this plan needs to be adjusted as there is lack of details in it. Trump’s project may meet some significant resistance due to the lack of details and the currency pair gained back some positions. As for today’s important events, we advise to pay attention to the European Central Bank Meeting as Mario Draghi may say something on future bond buying programme cancelation. If this happens, EUR/USD is likely to grow again. Trades, opened according to our recommendations closed by stop loss as they were risky.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week increasing its speed. We think that EUR/USD is likely to decline moderately after Monday’s gap.

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 1,0900. Place stop losses below the indicator.

GBPUSD



The currency pair was trying to leave the range yesterday but it failed to do this. Break through trades were risky and closed by stop loss. We have changed a bit the upper side of the range and we are still waiting for the break through. Risks are lower as we have clear upside tendency.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had a growth last week according to our expectations. We think it is going to decline moderately 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 wait until the price break through the upper side of the range and then to open long trades when the price is back to this side. Place stop losses below the line.

AUDUSD



The currency pair continued its decline yesterday. We can see a clear downside tendency as AUD/USD declined considerably. We advise to wait until the price is back towards the balance line and to open short trades from there.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair was trading in both directions last week. We think it is going to 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 indicator.

USDCHF



The currency pair was trading within a limited range and short trades from the MA55 balance line were unsuccessful. There were two ways to close those positions – by stop loss or at breakeven level. Current tendency is weak and there is almost no dynamics. We advise to do nothing today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was declining last week according to our expectations. WE think that USD/CHF is likely to start an upside correction 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 unclear.


Gold and Silver Technical Outlook April 27, 2017

GOLD (XAUUSD)



XAU/USD tested the lower trend line and went back to the MA55 balance line yesterday. We think here is a good opportunity to sell. Today’s European Central Bank meeting is likely to announce future bond buying programme cancellation and this fact may also influence Gold’s decline.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD was stopped last week by the resistance level. We think that Gold is likely to develop its downside tendency in the next couple of days. However, pay attention to geopolitical situation.

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 t o open short trades from the MA55 balance line. Place stop losses above the indicator.

SILVER (XAGUSD)



Silver failed to execute short trade according to our recommendation as XAG/USD did not reach the necessary level. However, the price declined as we had previously expected. We think it is time for Silver to start is upside correction and we give no recommendations.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver failed to break through the resistance level last week. We think that XAG/USD is likely to develop its downside tendency 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 avoid trading today as the situation is unclear.

Technical Outlook April 28, 2017

EURUSD



The currency pair declined after the results of the European Central Bank Meeting. The head of the ECB hinted that there are no discussions on the probability of the current bond buying programme cancellation. There was an opportunity to open long trades from 1,0900 and the price was in a profit area for 170pips. It was enough to protect positions. Market participants are going to pay attention to today’s Advance US GDP data. Bloomberg experts forecast 1,2%. If the result is better or worse this level, it may provoke significant fluctuations. The price is far from the balance line 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 continued its growth last week. We think that the currency pair is likely to decline moderately after Monday’s price gap 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 avoid trading today as the situation is unclear.

GBPUSD



The currency pair was trying to break through the upper side of the range and did it finally. However, GBP/USD failed to return towards this upper side and offered no opportunity to open long trades. If you bought the currency pair, the profit could be about 500pips. Market participants are going to pay attention to today’s UK Prelim GDP data. This data may push the currency pair towards the upper side of the range.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some growth last week according to our expectations. We think it is going to decline moderately 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 unclear.

AUDUSD



The currency pair failed to reach the balance line but it approaches to it step by step. We think it is time to try short trades from the MA55 balance line. It is better to search for signals before the American Session.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair was trading in both directions last week. We think it is going to decline moderately 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 indicator.

USDCHF



The currency pair is still trading within a limited range. There is no tendency currently and we think it is better to do nothing today.

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 it is going to have an 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.


Gold and Silver Technical Outlook April 28, 2017

GOLD (XAUUSD)



Gold has tested the lower trend line again and then went back towards the MA55 balance line. There was an opportunity to open short trades in the beginning of the European session and the price was in the profit area for 5USD. It was enough to protect trades and to fix them partially. Market participants are going to pay particular attention to today’s US Advance GDP data.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The trend line prevented Gold from growth last week and XAU/USD developed its downside dynamics. We think that Gold is going to continue its decline in the next couple of days. Pay attention to geopolitical situation.

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 unclear.

SILVER (XAGUSD)



Silver continued its decline yesterday. There are risks that XAG/USD is going to start a correction in the nearest future. The price does not go back towards the MA55 balance line and is trading close to the MA13. You can try short trades from MA13, but risks are high in this case.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver failed to grow last week. We think that XAG/USD is likely to develop its moderate 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 avoid trading as the situation is still unclear.

Technical Outlook May 1, 2017

EURUSD



The currency pair was growing on Friday during the European session after the Eurozone inflation data, which was better than expected. However, after the US Advance GDP data, the currency pair declined. This statistics was worse than expected, but it components showed interest results. Market reaction was moderate. There are many important events this week and we think the volatility is going to be high.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range last week. We think it is going to decline moderately 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 unclear.

GBPUSD



The currency pair was under pressure after the UK Prelim GDP data, which was worse than forecasted. However, later this pressure was cancelled as the US Advance GDP data was worse than forecasted as well. The currency pair is likely to decline in the nearest future. There is an opportunity to open long trades today, but it is risky to do anything as GBP/USD was growing for several days.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think the currency pair is likely to decline moderately in the next couple of days.

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 unclear.

AUDUSD



The currency pair offered opportunities to open long trades before the American session on Friday according to our recommendations. The price was in the profit area for 300pips and there was a chance to take some profit. Another way was to protect existing trades, placing stop loss at breakeven level. It is better to do nothing today as there is no clear tendency at the moment.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that AUD/USD is going to develop this dynamics 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 as the situation is unclear.

USDCHF



The currency pair’s fluctuations were modest last week. However, we think that the volatility is going to rise in the nearest future. There are many events that may lead to significant fluctuations. There is no tendency currently and we think it is better to do nothing at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had an upside correction last week according to our expectations. We think it is going to develop 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 close to the MA55 balance line. WE advise to avoid trading today as the situation is unclear.


Gold and Silver Technical Outlook May 1, 2017

GOLD (XAUUSD)



Gold reacted modestly to the US Advance GDP data, which was worse than expected. XAU/USD was trading in a tight range on Friday preparing for the next week. We recommend paying attention to the Federal Open Market Committee meeting, which is to take place on Wednesday and the US Labor Market data, which is to be released on Friday.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/US was developing its downside tendency last week as the geopolitical situation around North Korea was relatively calm. We think Gold is likely 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 close to the MA55 balance line. WE advise to avoid trading today as the situation is unclear.

SILVER (XAGUSD)



Silver returned to the MA55 balance line for the first time and resumed its decline. The price reached new lows and it is far from the MA55 balance line. We think there will be some opportunities to open trades this week.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD continued its decline last week according to our expectations. We think that Silver is likely to stop its downside tendency 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 avoid trading today as the situation is unclear.

Technical Outlook May 2, 2017

EURUSD



The currency pair was trading moderately as the market participants are waiting for the Federal Open Market Committee meeting, which takes place on Wednesday. USD is trading in a range as well regardless the weaker than expected US ISM Non-Manufacturing PMI which fell from 57,2 to 54,8 points. US citizens’ spendings show no growth and PMI indicates on the growth slow down. All those factors indicate on the probability that the Federal Open Market Committee will be more cautious in further monetary policy tightening. Today market participants are going to pay attention to Final German and French PMI data as we as the Eurozone Labor Market data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range last week. We think it is going to decline moderately 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 unclear.

GBPUSD



The currency pair started its downside correction yesterday according to our expectations. There is no tendency currently and as we have previously mentioned, GBP/USD needs some time to breathe after a strong growth. Market participants are going to pay attention to today’s Manufacturing PMI data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think that GBP/USD is likely to decline moderately 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 unclear.

AUDUSD



The currency pair developed its upside tendency yesterday but met a resistance on the trend line. We think that the growth is likely to come to an end there. Market participants are likely to pay attention to the results of the Reserve Bank of Australia meeting. This event can probably influence fluctuations.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that this dynamics is likely 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 if the price breaks through the trend line on the Hourly chart. We also advise to sell from the trend line is the price is unable to break it through.

USDCHF



The currency pair is still trading within a limited range as the weaker than expected US ISM Manufacturing PMI was unable to give some momentum to USD/CHF. We think that market participants are looking forward to see the results of the Federal Open Market Committee meeting, which takes place on Wednesday.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair met our expectations last week as USD/CHF was in the upside correction. We think this correction 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 unclear.


Gold and Silver Technical Outlook May 2, 2017

GOLD (XAUUSD)



Gold broke through the big triangle downwards finally. We gave no recommendations on Monday as there was no tendency. There is the downtrend today and we think it is time to look for short trades. It is better to sell from the broken through trend line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD continued its moderate decline last week according to our expectations as there was no changes in geopolitical situation. WE think Gold is going to develop its downside tendency 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 1262/1263,000 levels.

SILVER (XAGUSD)



Silver declined again yesterday during the American session, after an upside correction. The price is far from the MA55 balance line and we think it is better to do nothing today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver declined last week according to our expectations. We think that a downside tendency is likely to stop 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 avoid trading today as the situation is unclear.

Technical Outlook May 3, 2017

EURUSD



The currency pair was trading in a tight range yesterday as market participants are waiting for the Federal Open Market Committee Meeting, which is to take place today during the American Session. Investors seem to look for some hints on the further monetary policy tightening. Besides US Federal Open Market Committee meeting, we advise to pay attention to the Eurozone Advance GDP Data q/q. There is another event to pay attention to – ADP Non-Farm Employment Change. ISM Services PMI is also able to change the market situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a limited range last week. We think it is going to develop 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

GBPUSD



The currency pair has got some support from the better than expected UK Manufacturing PMI data. However, GBP/USD stays within Thursday’s and Friday’s range on the eve of the Federal Open Market Committee meeting. This event is the main for the currency pair today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think that GBP/USD is likely to develop 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

AUDUSD



The currency pair bounced off the trend line and there was an opportunity to open short trades according to our recommendations. The price was in the profit area for 300 pips. It was enough to fix profit as the volatility was low. The currency pair bounced off again the trend line and we give no recommendations at the moment.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our recommendations. We think that AUD/USD is likely to develop its decline in the next couple of days.

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 unclear.

USDCHF



The currency pair continues to be trading within a limited range on the eve of the Federal Open Market Committee meeting. We think that this event is going to have a serious impact on USD/CHF. The data, which is to be released before the meeting may have limited impact on the currency pair. It is better to do nothing.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair started its upside correction last week according to our expectations. We think USD/CHF is likely to develop 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 below the MA55 balance line. We advise to avoid trading today as the situation is unclear.


Gold and Silver Technical Outlook May 3, 2017

GOLD (XAUUSD)



Gold failed to reach 1262/1263,000 level and offered no opportunities to open short trades. The price was in a tight range on the eve of today’s Federal Open Market Committee meeting. If there are no surprises, XAU/USD is likely to develop its decline. Investors expect no changes in the US monetary policy today. We think there is an opportunity to open short trades from the closest trend line on the Hourly chart.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold was declining last week as the geopolitical situation was calm. We think Gold is likely to develop 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 closest trend line. Place stop losses above this line.

SILVER (XAGUSD)



Silver was trading in a range closer to the lower side of the Monday’s range. This fact indicates on the probability of further decline. The price is able to continue its decline after the Federal Open Market Meeting results release.

There is no trend on the Weekly chart as the price is close to the Ma55 balance line. The currency pair continued its decline last week according to our expectations. We think that XAG/USD is likely to stop its downside tendency 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 avoid trading today as the situation is unclear.

Technical Outlook May 4, 2017

EURUSD



The currency pair was trading in a tight range on the eve of the Federal Open Market Committee meeting, which took place during the American session. EUR/USD later declined, when the results of the meeting were released. Market participants pay more attention to the French Presidential elections and they reacted modestly to the FOMC meeting results. The Federal Open Market Committee admits that economic indicators declined, but Fed thinks that this is a temporary decrease. There are many important events today and we think that EUR/USD is going to increase its volatility.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range last week. We think that EUR/USD is likely to decline moderately 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 unclear.

GBPUSD



The currency pair is under pressure at the moment as US Interest Rates hike expectations has grown again. Interest Rates futures indicates on 70% probability that the Federal Open Market Committee is going to rise Rates on June. This probability was 60% before the latest to date meeting, which took place on Wednesday. This expectations growth allows USD to develop its upside tendency in the nearest future. We think that the currency pair is going to decline towards the trend line on the Hourly chart.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think it is going to 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 1,2880-1,2900. Place stop losses above the MA55 balance line.

AUDUSD



The currency pair declined considerably yesterday and we think AUD/USD is likely to develop its downside tendency in the next couple of hours. There is strong downtrend here and it is time to look for short trades from the MA13.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think it is going to support this dynamics 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 MA13. Place stop losses above the indicator.

USDCHF



The currency pair is still trading within a limited range despite the results of the Federal Open Market Committee meeting, which took place yesterday. The FOMC members proved that they are going to follow their previously taken plan. However, the market participants are waiting for the results of the French Presidential campaign.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair established an upside correction last week according to our expectations. We think that this correction is likely 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 unclear.


Gold and Silver Technical Outlook May 4, 2017

GOLD (XAUUSD)



Gold failed to rise towards the trend line on the Hourly chart and started to decline. The interest Rates hike expectations grew after the latest to date Federal Open Market Committee meting as the Fed admits the decline of economic indicators but consider it temporary and expect two more Interest Rates hike this year. XAU/USD continued to go towards its new lows. We think Gold is likely to develop its downside tendency today, but the price is close to the lower side of the MA-channel.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold continued its moderate decline last week as there was no changes in geopolitical situation around North Korea. We think that Gold is likely to develop its downside tendency 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 MA13. Place stop losses above this indicator.

SILVER (XAGUSD)



Silver declined even before the results of the Federal Open Market Committee meeting and develop its downside dynamics after the event. The price reached the support level trend line on the Weekly chart) and we think it is unlikely to develop its downside tendency.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver declined last week according to our expectations. We think that it is going to slow down its downside tendency in the next couple of days.

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

Technical Outlook May 5, 2017

EURUSD



The currency pair was trading with some growth yesterday and finally left its range. This sharp upside momentum was provoked by the better than expected Eurozone PMI data. This statistics reached its 6 years highs. There are talks that the European Central Bank is going to change its rhetoric during the next ECB meeting. However, today market participants are likely to pay attention to the US Labor Market data, which is to be released right before the American session. It is better to do nothing at the moment as this US data may have significant impact on fluctuations. We recommend trading right after the release.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a small range last week We think it is going to decline moderately 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 important US data is expected.

GBPUSD



The currency pair had some growth after the release of the UK PMI data, which was better that expected. There was an opportunity to open trades from 1,2880 and the currency pair did a fake breakthrough of the lower level. However, the price was in the profit area for 400pips and it was enough to earn or to protect trades. Market participants are going to pay attention to the US Labor Market data and we recommend doing nothing.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was growing last week frustrating our expectations. We think that GBP/USD is likely to decline 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 unclear.

AUDUSD



The currency pair offered an opportunity to sell from the MA13 and the price was in the profit area for 300pips allowing to earn or to protect trades. Market participants are going to pay attention to the US Labor Market and Average Earnings data. We recommend doing nothing before those events.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think it is going to develop this dynamics 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 avoid trading as the situation is unclear.

USDCHF



The currency pair followed Euro and USD/CHF was trading with high volatility. Market participants are likely to pay particular attention to the US Labor Market and Average Earnings data. We recommend doing nothing today as this data may have considerable impact on fluctuations.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had an upside correction last week according to our expectations. We think it is going to develop its upside correction 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 avoid trading today as the situation is unclear.


Gold and Silver Technical Outlook May 5, 2017

GOLD (XAUUSD)



Gold has a strong downside tendency and failed to reach the MA13 offering no opportunities to sell according to our recommendations. There is still some space to further decline and the fluctuations are still very active. The main event for today is the US Labor Market data. We recommend doing nothing before the release of this statistics and taking any decisions after the data is published.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold continued its decline last week as there was no changes in geopolitical situation. We think XAU/USD is likely 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 avoid trading today as the situation is unclear.

SILVER (XAGUSD)



Silver has some difficulties when trying to move downwards as the price goes back upwards all the time. Strong support line prevents XAG/USD from further downside tendency. We think Silver is likely to grow today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD continued its decline last week according to our expectations. WE think that Silver is likely to stop its downside tendency 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 avoid trading today as the situation is unclear.

Technical Outlook May 8, 2017

EURUSD



The currency pair was growing on Friday despite the fact that the US data was better than expected. We think that the market participants gave some advance to Euro on the eve of the French Presidential elections’ second tour. Emmanuel Macron has won the elections and the price is likely to go back today. The results of the elections met market participants expectations and the currency pair is going to move downwards probably. The most important events for Euro this week are the European Central Bank Economic forecasts and the ECB’s head Mario Draghi speech.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was in the uptrend last week because of the French Presidential elections expectations and the better than expected Eurozone data. We think EUR/USD is likely to decline moderately 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 think that the price is going to reverse sharply and it is better to avoid trading today.

GBPUSD



The currency pair had some growth on Friday regardless the better than expected US Labor Market data. We think that GBP/USD is likely to slow down its growth today and it is going to reverse, starting a downside tendency. We still see no reasons for further currency pair’s grow and we think that the currency pair is going to decline this week. AS for the important data this week, we advise to pay attention to UK manufacturing production data and to Bank of England’s meeting, which is to take place on Thursday.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was declining in the first half of the last week but then has grown sharply on the better than expected UK data. We think that GBP/USD is likely to decline moderately 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.

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 unclear.

AUDUSD



The currency pair was growing on Friday despite the better than expected US Labor Market data. We think that AUD/USD is going to use the results of Friday releases today. There is not much data in the first half of the week. Australian Building Approvals data was worse than expected and the currency pair went downwards in the morning.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that AUD/USD is likely to develop this dynamics 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 avoid trading today as the situation is unclear.

USDCHF



The currency pair prepares itself to make a reverse as there is a pattern, indicating on such a probability. There is a resistance level (the trend line on the Hourly chart) that may pause USD/CHF growth. It is better to do nothing today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went downwards last week frustrating our expectations. We think that the currency pair is likely to correct upwards in the next couple of days.

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


Gold and Silver Technical Outlook May 8, 2017

GOLD (XAUUSD)



Gold declined on Friday after the better than expected US Labor market data. This statistics gave some support to those who believe in the Federal Open Market Committee positive decision on Interest Rates hike within the next Fed meeting on June. Special futures on the Interest Rates hike probability show growth from 67% before the data release to 74%. US CPI and Retail Sales data may strengthen those expectations.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price continued to decline moderately last week. We think that XAU/USD is likely to develop its downside tendency 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 indicator.

SILVER (XAGUSD)



Silver is going to break through the trend line on the Weekly chart and may accelerate its speed. 16,20 level will be a control one. Silver is in a good position for short trades and we advise to take this opportunity.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price declined last week. We think that USD/CHF is likely to decline and to develop its downside tendency.

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 indicator.

Technical Outlook May 9, 2017

EURUSD



The currency pair was declining yesterday according to our expectations. We have predicted this sharp price reverse previously. Market participants are playing with Friday’s statistics, as US Labor Market data was stronger than expected. French elections were already included in price and after Monday’s gap the price is moving downwards. We think the price is going to decline today after a short consolidation period.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some support last week as the market participants were looking forward for the results of the French Presidential elections campaign. We think that EUR/USD is going to decline moderately 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 indicator.

GBPUSD



The currency pair was trading according to our expectations and GBP/USD started to move downwards. However, there is still the uptrend here and we give no recommendations as we expect the tendency to reverse completely in order to take some further steps. We think that this event is likely to happen today as the upside tendency slows down significantly.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some moderate decline in the first half of the last week but then grew sharply after the better than expected UK PMI data. We think that the currency pair is going to decline in the next couple of days.

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 unclear.

AUDUSD



The currency pair declined yesterday as the market participants paid more attention to the Friday’s US Labor Market data, which was stronger than expected and the Australian construction sector data, which was worse, than expected. Today’s retail sales data was disappointing as well. The currency pair accelerates its decline.

There is no trend on the Weekly chart as the price is below the MA55 balance line. He currency pair declined last week according to our expectations. We think AUD/USD is likely to develop this downside dynamics 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 MA5 balance line. Place stop losses above the indicator.

USDCHF



The currency pair had some growth yesterday and broke through the trend line on the Hourly chart. The tendency reversed as we had previously expected. We advise to wait until the price is back to the broken through trend line and to try buying from there. There is an important Swiss Labor Market today, which may have considerable impact on fluctuations.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair moved downwards last week again, frustrating our growth expectations. We think that USD/CHF is likely to start 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 open long trades from the broken through trend line. Place stop losses below the line.


Gold and Silver Technical Outlook May 9, 2017

GOLD (XAUUSD)



Gold was trading with a downside bias on Monday and we think this downside tendency is likely to continue and accelerate in the nearest future. The price bounced off the trend line yesterday and XAU/USD is going to develop its downside tendency today. Yesterday’s short trades according to our recommendations were closed by small stop losses.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price continued to go down last week We think this downside dynamics is likely to be developed 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 or from the trend line. Place stop losses above those indicators.

SILVER (XAGUSD)



Silver executed short trades according to our recommendations. However 16,20 level still prevents XAG/USD from further decline and we think that the precious metal is going to grow. We advise to leave the trade as it is waiting for the price to break through this level. It is better to place stop loss at breakeven level.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price decline accelerated last week. We think that XAG/USD is likely to break through the trend line and 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 hold short trades from 16,40 level.

Technical Outlook May 10, 2017

EURUSD



The currency pair continued its decline yesterday according to our expectations without even any sign of a correction. There was no opportunities to open trades because of such a strong downside tendency. The price has broken through the trend line and we think it is going to develop its decline in the nearest future. We advise to pay attention to today’s European Central Bank Head Mario Draghi speech as well as to US import and export prices data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair has got some support last week because of the French Presidential campaign expectations and the better than expected Eurozone data. We think that EUR/USD is likely to decline moderately 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 broken through trend line on the Hourly chart. Place stop losses above this line.

GBPUSD



The currency pair is in the neutral position at the moment but we expected it to develop the downside tendency previously. The reverse is slower than we thought. However, we think that GBP/USD is going to change its tendency finally today. There is no clear trend at the moment 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 declining in the first half of the last week, but then grew sharply on the better than expected UK PMI data. We think that the currency pair is likely to decline moderately 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 unclear.

AUDUSD



The currency pair failed to reach the MA55 balance line yesterday and there was no opportunity to open short trades according to our recommendations. We think that AUD/USD is likely to be close to the MA55 balance line today offering some good positions to short the currency pair. There is no more important data from Australia this week and we think that the currency pair is likely to be trading with normal volatility, offering opportunities to trade.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. WE think that AUD/USD is likely to develop this downside dynamics 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 indicator.

USDCHF



The currency pair failed to get back to the broken through trend line on the Hourly chart. It happens some time. There was no opportunity to open trades. The currency pair met another trend line and it is likely to bounce off it.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went down last week again frustrating our growth expectations. We think that it is going to develop 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 unclear.


Gold and Silver Technical Outlook May 10, 2017

GOLD (XAUUSD)



Gold was declining yesterday according to our expectations. The price was close to the MA55 balance line yesterday during the Asian session and there was an opportunity to sell. If you did this, you would have about 1 400 pips as profit. The price went upwards towards the trend line in the evening on the Hourly chart and it is likely to break it through. However, there is still the downtrend and we think 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. The price continued to decline moderately last week. We think that XAU/USD is likely to develop its downside tendency 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 or from the trend line. Place stop losses above those indicators.

SILVER (XAGUSD)



Silver broke through 16,20 level and went even lower. There was an opportunity to fix short trades or toe protect them, waiting for further targets. WE think that Silver is likely to reach 15,70 level this week.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price went downwards last week, frustrating our expectations. We think that the price is likely to break through the trend line and to develop its downside tendency 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 hold short trades from 16,40.