May 18, 2018 10:30 AM
From past couple of days we can observe that tug of war going on between bulls and bears. Well from technical point of view it has breached the 0.7500 level which is psychological level but it could not sustain below that level. A daily closing below that level will confirm the valid breakout. The way pair is trading it is advised to sit aside for the time being as long as we see valid breakout on either side.
Continue reading “AUD/USD: Tug of War between bulls & bears.”
May 16, 2018 11:00 AM
Gold future dropped nearly 2% on Tuesday morning as the USD increased 0.75%.
Gold broke below $1300 to $1291 per ounce before a small bounce.
The dollar rose as interest rates increased, with the yield on the 10 year note reaching as high as 3.065% before falling off. Rates increased after the release of the latest retail sales data, which came in at 0.3% month over month growth for April, below analyst estimates of 0.4%, which is still considered strong. Retail sales for March were revised to 0.8% from 0.6%.
Continue reading “Gold: Heading towards South, as dollar getting strengthen”
May 17, 2018 09:00 AM
Crude oil price has arrived near $71 post crude oil inventory decreased by almost 1.4mbpd. Crude oil is trading in completely uptrend from short term point of view and it is used to say that Trend is your friend so every dips should be converted as buying opportunity as uptrend line has been formed on the daily chart and aggressive buying can be seen due to critical situation in Venezuela and tensions in the middle east.
Continue reading “Crude Oil: Bulls are driving the Car due to Geopolitical tension.”
May 17, 2018 11:00 AM
Yesterday pair has tested the level of 1.1762 for the first time since December. It decline after the release of CPI data. Pair got downward pressure from the FED and ECB as divergence of Monetary policy.
Continue reading “EUR/USD- Pair has been topped out.”