Weekly data: British pound and action on Gold ahead of UK inflation report and news coming up this week LeapRate

October 17, 2022 BY Steffy Bogdanova

Weekly data: British pound and action on Gold ahead of UK inflation report and news coming up this week

Based on technical analysis the price is currently trading around the 1.24 price area which is a very strong point of resistance since it consists of the 61.8% of the fibonacci retracement level, the daily trendline which is valid since mid August and the psychological resistance of round numbers. Given this is a major resistance…

October 11, 2022 BY Steffy Bogdanova

Weekly data: British GDP and balance of trade ahead of US CPI

TA would traditionally suggest an ongoing movement lower with there being no overbought signals from either the slow stochastic or Bollinger Bands and a fairly clear rejection around $1.15. The medium-term target might be 27 September’s closing low slightly above $1.07. However, the liveliness and duration of the dollar’s uptrend so far this year might…

October 05, 2022 BY Steffy Bogdanova

Midweek data: balance of trade around the world ahead of the NFP

The magnitude of the current bounce suggests considerable institutional involvement, which is practically unknown in the week before a major event such as the NFP. That suggests in turn that the reaction to the job report could also be extremely strong, so the most conventional wisdom of waiting for the dust to settle after a…

August 08, 2022 BY Steffy Bogdanova

Weekly data: Gold’s rally might be cut short, Oil’s headwinds continue

Oil’s headwinds continue Brent Crude (symbol ‘UKOIL’) made losses in the first week of August, reaching around $95 and erasing all the gains after Russia’s latest invasion of Ukraine. The USA’s technical recession and signs of a general economic slowdown around the world have affected sentiment negatively, while there are some signs of increasing supply…

July 26, 2022 BY Steffy Bogdanova

Weekly data: FOMC and US GDP in the spotlight

The main downtrend is still active with the price below all of the 50, 100 and 200 SMAs, but there is no longer any sign of oversold from either the slow stochastic or Bollinger Bands; the former at around 65 is between neutral and overbought. The next movement for EURUSD depends on the reaction to…

April 14, 2022 BY Steffy Bogdanova

Midweek data: more highs for inflation ahead of the ECB

The technical picture remains unambiguously negative, with a fresh two-year closing low of $1.0825 on Tuesday. The next key support is the psychological area of $1.07 near the 100% Fibonacci retracement, i.e. full retracement of all the euro’s gains since March 2020. To the upside, any possible bounce in the next few weeks would probably…

March 16, 2022 BY Steffy Bogdanova

Weekly data: sentiment recovers ahead of the Fed

A return to strength looks unlikely as of now based on TA. Although yesterday’s test of the 23.6% weekly Fibonacci retracement area has been rejected for now, selling volume has been high since last week and the downward reaction on 9 March from the area of the all-time high has been very strong. With ATR…

February 22, 2022 BY Steffy Bogdanova

Weekly data: RBNZ and US GDP

With very strong buying saturation based on both the slow stochastic and Bollinger Bands and the presence of an important psychological resistance, another move up in the immediate future doesn’t look likely. Instead, new buyers would traditionally look for a fairly small retracement to the area of about $1,880 based on ATR before looking to…

February 16, 2022 BY Steffy Bogdanova

Weekly data: British inflation ahead of FOMC’s minutes

From a technical point of view, the recent breakout above the medium-term downward trendline has yet to be confirmed although it seems strong. Somewhat higher volume of buying over the last few sessions, rising ATR and price clearly above all three of the simple moving averages seem to point to possible continuation. Traders in this…

January 10, 2022 BY Steffy Bogdanova

Weekly data: inflation in view

$1,800 remains the main technical reference; the price is currently testing this zone. Based on TA, at least a temporary breakout is likely this week with ATR at about $15. Continuation upward is uncertain and probably looks unlikely for now given the presence of price within the value area between the fairly tightly bunched moving…

Tag: XAUUSD