Welcome to this week’s Market Blast Technicals where we will look at the S&P 500 (US 500), NZDJPY, USDCHF, WTI (US Oil), Brent Crude (UK Oil), Gold (XAUUSD), and the FTSE 100 (UK 100).
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On Tuesday last week we covered the AUDUSD which spent the remainder of the week trading in a narrow range above the key 0.7250 level. In the previous week the AUDUSD eased away from a two year high above 0.74 where it met some reversal signals in the form of doji candlesticks, indicating significant selling pressure above that level for the time being. In the week leading up to the high the AUDUSD was able to push through the resistance at 0.7250, which had been placing downward pressure on the currency pair, and this level is now supporting the AUDUSD, which it has done in the last few days.
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In the last few weeks the XAUUSD has rested on strong support at the now key $1900 level after having moved sharply during this time. Several weeks ago, it fell sharply from its all time high around $2075 however it was stopped well by strong support around the $1900 level which has been able to buffer the fall and allow it to consolidate in the time since, even allowing it to rally back above $2000 before returning to support. In the second half of July, gold exploded higher surging to its all time high with few detours. In the last two months or so it has steadily climbed higher off support at the key level of $1675, before the recent surge and consolidation.
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Gold Consolidating with Lower ATR. CAD Stronger.
on September 8, 2020
| By Brad Alexander
|
XAUUSD,
USDCAD,
Market Blast Videos,
Gold,
WTI,
GBPCAD,
Crude Oil,
Fibonacci,
CADJPY,
EURCAD,
Stochastic Oscillator
Welcome to this week’s Market Blast Technicals where we will look at Gold (XAUUSD), USDCAD, WTI (US Oil), CADJPY, EURCAD, and GBPCAD.
Read MoreIndices in Focus. USDCAD at Pre-COVID Support.
on September 2, 2020
| By Brad Alexander
|
XAUUSD,
Market Blast Videos,
US100,
HK50,
Gold,
FTSE100,
Technical Analysis,
Fibonacci,
Hang Seng,
NASDAQ,
UK 100,
GBPCHF
Welcome to this week’s Market Blast Technicals where we will look at Gold (XAUUSD), USDCAD, GBPCHF, the NASDAQ (US100), the Hang Seng (HK50) and the FTSE (UK100).
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On Tuesday last week we covered the AUDUSD which spent the remainder of the week climbing higher before surging higher to its highest level in 18 months above 0.7350. In the last few weeks the AUDUSD has been able to push strongly through the key 0.7050 level and reach a then 18 month high above 0.7250 before consolidating and trading in a narrow range in the last two weeks. The 0.7050 level has played a key role in the last few months first providing resistance to the AUDUSD and more recently supporting price. Should the support at 0.7050 fail, this level may reverse roles and provide some resistance again.
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In the last few weeks the XAUUSD has rested on strong support at the now key $1900 level after having moved sharply during this time. A few weeks ago, it fell sharply from its all time high around $2075 however it was stopped well by strong support around the $1900 level which has been able to buffer the fall and allow it to consolidate in the time since, even allowing it to rally back above $2000 before returning to support. In the second half of July, gold exploded higher surging to its all time high with few detours. In the last two months or so it has steadily climbed higher off support at the key level of $1675, before the recent surge.
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OPEC this Week. GBP Consolidating but Watch for Brexit News.
on August 17, 2020
| By Brad Alexander
|
EURUSD,
XAUUSD,
USDCAD,
Market Blast Videos,
Gold,
NZDUSD,
USOil,
WTI,
Fundamental Analysis,
Brent Crude,
Coronavirus,
USDNOK
Welcome to this week’s Market Blast Fundamentals where we will look at WTI (US Oil), NZDUSD, USDCAD, Gold (XAUUSD), EURGBP, USDNOK, and EURUSD.
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On Tuesday last week we covered the AUDUSD which spent the remainder of the week trading in a narrow range around 0.7150. In the last few weeks the AUDUSD has been able to push strongly through the key 0.7050 level and reach an 18 month high near 0.7250 before easing throughout the last week back to 0.7150. Since that time it has enjoyed some support from the key 0.7050 level keeping the AUDUSD above that level and near the highs. Should the support at 0.7050 fail, this level may reverse roles and provide some resistance again.
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In the last week or XAUUSD has fallen sharply from its all time high around $2075 however it was stopped well by strong support around the $1900 level which has been able to buffer the fall and allow it to consolidate for the last two days. In the second half of July, gold exploded higher surging to its all time high with few detours. In the last two months or so it has steadily climbed higher off support at the key level of $1675, before the recent surge. Just before its recent surge, XAUUSD consolidated around eight year highs above $1800 after moving steadily higher in the previous few weeks, and this level may provide some support should gold continue to decline from its current consolidation.
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