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On Tuesday last week we covered the AUDUSD which spent the rest of the week resting on a new support level at 0.6750, after dropping through to a 2019 low below 0.67 two weeks ago. In the two weeks prior, the AUDUSD fell sharply from above 0.7050 down to the support level at 0.6850 before continuing to decline down to 0.6750.
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In the last week or so, gold has been content to trade in a narrow range resting on some support at $1500 as it trades at six year highs. Two weeks ago, gold surged higher off support at $1400 towards the recent six year high above $1450, which was reached two weeks ago, before its recent surge higher yet again. It was well supported by the $1400 level for the last month or so, and any time it has moved lower, it has been quickly bought up and supported, pushing it back above this level. If gold was to decline from its current highs, you could reasonably expect it to receive support from $1400 again.
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Valutrades Market Blast Technicals 13 August 2019
on August 13, 2019
| By Brad Alexander
|
EURUSD,
XAUUSD,
USDCAD,
Gold,
USOil,
WTI,
Technical Analysis,
Fibonacci,
Descending Triangle,
Double Top
Valutrades Market Blast Fundamentals 12 August 2019
on August 12, 2019
| By Brad Alexander
|
EURUSD,
GBPUSD,
XAUUSD,
Gold,
EURGBP,
EURJPY,
US Retail Sales,
UK Retail Sales
Welcome to this week’s Market Blast Technicals where we will look at EURUSD, EURJPY, the USD Majors, Gold (XAUUSD), GBPUSD and the Pound Crosses.
Read MoreValutrades Market Blast Technicals 6 August 2019
on August 6, 2019
| By Brad Alexander
|
EURUSD,
GBPUSD,
XAUUSD,
USDCAD,
Gold,
Sterling,
USOil,
WTI,
Technical Analysis
Welcome to this week’s Market Blast Technicals where we will look at EURUSD, USOil, USDCAD, Gold (XAUUSD), and GBPUSD.
Read MoreValutrades Market Blast Fundamentals 5 August 2019
on August 5, 2019
| By Brad Alexander
|
AUDUSD,
USDJPY,
XAUUSD,
HK50,
EURJPY,
Fundamental Analysis,
AUDJPY,
S&P 500,
Stock Indices
Welcome to this week’s Market Blast Fundamentals where we will look at the Hong Kong 50 Index, NZDUSD, AUDUSD, the Japanese Yen (JPY) and Gold (XAUUSD).
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On Tuesday last week we covered AUDUSD which spent the remainder of the week falling sharply down to its lowest level for this year around 0.6750. This simply continued the strong fall from above 0.7050 however many would have considered the 0.6850 to offer strong support like it has had done on two occasions is as many months. It was only a week earlier that the AUDUSD surged strongly back up to the current key level of 0.7050 as it then looked poised to threaten this level and possibly move higher.
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In the last 24 hours gold has surged higher off support at $1400 towards the recent six year high above $1450, which was reached two weeks ago. It has been well supported by the $1400 level for the last month or so, and any time it has moved lower, it has been quickly bought up and supported, pushing it back above this level. In late June, gold enjoyed a strong surge higher through resistance at the $1350 level, which had been repelling prices despite multiple rallies to push through that level, after having provided stiff resistance to gold on numerous occasions in the last couple of years. The $1350 level is now likely to offer support to gold should it decline from its current levels.
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Welcome to this week’s Market Blast Fundamentals where we will look at Gold (XAUUSD), GBPUSD, USDJPY, the Hang Seng Index (HK50), the US Stock Indices.
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