EURO POUNDS HIGH ON FRIDAY

 LONDON (Reuters) -Oil prices recouped losses on Wednesday as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine amid tight global supplies and recovering fuel demand.

Brent traded at $93.86 a barrel around 1000 GMT, up 62 cents, or 0.6%, having slid 3.3% overnight after Russia announced a partial pullback of its troops near Ukraine.

U.S. West Texas Intermediate (WTI) crude was at $92.64 a barrel, up 62 cents, or 0.6%, after the contract ended Tuesday's session down 3.6%.

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Both benchmarks hit their highest since September 2014 on Monday, with Brent touching $96.78 and WTI reaching $95.82.

The price of Brent jumped 50% in 2021, while WTI soared about 60%, as a global recovery in demand from the COVID-19 pandemic strained supply.

Moscow announced a partial pullback of troops from Ukraine's borders, but NATO Secretary-General Jens Stoltenberg said on Wednesday the alliance had not seen any de-escalation, but rather that Russia was continuing its military build-up.

"The risk of a full scale invasion has receded a bit. But we are unlikely to move out of the current status quo," said Bjarne Schieldrop, chief commodities analyst at SEB in Oslo.

Beyond Ukraine tensions, the oil market remains tight and prices could still be on course for a move towards $100 a barrel.

"The price action has been an incredibly bullish one-way-street higher since just before Christmas. You don't see this kind of price action unless the market is very tight," Schieldrop added.

Investors await weekly U.S. oil inventories data from the Energy Information Administration due at 10:30 a.m. (1530 GMT).

U.S. crude and distillates inventories may have fallen by 1.5 million to 1.6 million barrels last week, a Reuters poll showed. [EIA/S]

Data from the American Petroleum Institute showed a drop in crude, gasoline and distillate stocks last week, according to market sources on Tuesday. [API/S]

(Additioanl reporting by Chen Aizhu and Florence TanEditing by Clarence Fernandez and Mark Potter

REBOUND OF EURO

 LONDON (Reuters) - The euro rebounded on Tuesday, nearly erasing all of Monday's losses, after reports that some Russian troops in areas near Ukraine have started returning to their bases.

Against the greenback, the single currency climbed 0.4% to $1.1346, and within striking distance of Monday's high of $1.1369 as European stock futures rebounded on the news.

Some troops in Russia's military districts adjacent to Ukraine are returning to bases after completing drills, Russia's defence ministry was quoted as saying, a move that could de-escalate frictions between Moscow and the West.

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"While any news about a potential de-escalation is welcome, I think the markets will want to see something more concrete before judging the crisis to be over," said Stuart Cole, head macro economist at Equiti Capital.

"By this I think it will require the removal from the border of sufficient troop numbers or military hardware that makes an invasion materially more difficult to undertake,"

Brewing geopolitical tensions had kept a lid on the euro's gains in recent days even as the European Central Bank joined its central bank peers in signaling a hawkish turn in its monetary policy at a meeting this month.

The euro tumbled to a near two-week low on Monday after Ukrainian President Volodymyr Zelenskiy called on citizens to fly the country's flags from buildings and sing the national anthem in unison on Feb. 16, a date that some Western media have cited as a possible start of a Russian invasion.

For now, investors greeted the news with relief, pushing up the currencies of economies that would be most affected by the conflict including the pound, euro and the Russian rouble while typical safe-haven shelters like the yen and the Swiss franc weakened.

Away from geopolitics, U.S. Federal Reserve officials continuing to spar over how aggressively to begin upcoming interest rate increases at their March meeting.

But the dollar failed to get a fresh lift from the comments with an index weakening 0.3% versus its rivals.

In cryptocurrencies, bitcoin was 3.4% higher, trading around $44,000.

Analysis on Gold on 11/02/2022:

- In the US session last night after the US inflation-CPI data was released Gold ran in two directions when it fell to 1821, then increased to 1841, then fell back again, closing the day session with a candle.  declined at around 1826. With Gold closing the day as a bearish candle but still at a high price, I still prioritize the bullish option with this precious metal.

- Moving to the H4 time frame, we can see that the downward pressure is still quite strong around the 1835 price area so if we establish a buy position, this is a safe profit taking point.  The nearest support price zone for this precious metal Gold is 1818-1823. If in today's session Gold corrects to this zone, we can establish a buy position with the above target.

📕 Comment on Gold on February 9, 2022:

- In yesterday's trading session, precious metal Gold went right in analysis when it increased from 1815 to 1828, closing the day session with a bullish candle around the 1825 price range. With Gold showing good momentum like Currently, in my personal opinion, Gold will continue to gain momentum and if there is any decline in Gold, it is likely to be an opportunity for us to establish a buy.

- Moving to the h4 time frame, we can see that Gold is currently in the old resistance area at 1828, so there is a possibility that there will be a downtrend but however, the strong bearish signal has not been seen yet and it is likely to follow. Gold will bounce up one more span to around 1835, it is likely to correct here. Therefore, in today's session, we will wait for the opportunity to buy if Gold corrects slightly in the Asian session and wait to sell if Gold approaches the price of 1835.

UNBREAKABLE RECORD BY EUR/GBP

 

EURGBP races to topside resistance

The BOE raised rates by 25 basis points with dissenters in the 5-4 vote leaning to 50 bp rise. That initially sent the EURGBP to the downside.

However, after Lagarde started to switch course for the ECB, it was "fast break the other way" for the EURGBP with the price racing toward the high from last week.

The high has extended to 0.8416. The high last week reached 0.8422.

The highs today have now entered into a topside swing area between 0.84148 and 0.8424 (see red numbered circles). Along the way, the pair cracked above the 100/200 hour MAs and swing areas around 0.8370 and 0.8403.

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Earlier today, after the BOE announcement, the pair broke to the downside and through a key swing area between 0.8305 to 0.8312. The low reached 0.82827 and failed.

So in the course of the day (and really over the last 8 or so hours, the price has traded the range since December 28th - with a failed break lower added on at the lows.

The question now is "Can the upper extreme be broken and stay broken?"

If low the 50% midpoint at 0.8440 followed by the falling 100 day MA at 0.84567 are the next key targets to get to and through.

Break through the 100 day MA and there should be more follow through buying in the pair with the 200 day MA up at 0.85129 as another key target to the upside.

XAU/USD Price Forecast: Technical outlook

 

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XAU/USD Price Forecast: Technical outlook

Gold is trading near the bottom of a Pitchfork’s channel, drawn from the beginning of December, as depicted by the daily chart. That trendline intersects with a downslope trendline, drawn from August 2020 swing highs, acting as resistance for the non-yielding metal around $1,790-$1,800. Furthermore, the daily moving averages (DMAs) reside above the spot price. Therefore, XAU/USD is downward biased.

The first support level would be December 15, 2021,  swing low at $1,753. A breach of the latter would expose October 6, 2021, a daily low at $1746, followed by September 29, 2021, a low at $1,721

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Which technical analysis do you prefer for Intraday trading?

For intraday trading, one should know candle sticks well.

Candle stick is thought process of buyers and sellers at a particular point in time and you can predict the future steps by adding some indicators like Stochastics, RSI, moving average etc to ascertain your belief about a trade basis candle stick notification.

That’s about tools -

You could also ride the curve by buying or selling when a breakout or breakdown happens with heavy volume. My sense is 70% work on this strategy now a days.

Try these things and than adopt more versions.

We provide Best Gold Trading Signals with technical and fundamental overview.

Weekly Overview on Currencies

 Weekly changes: EURUSD –0.72%, GBPUSD –0.19%, USDCAD +1.33%

The ECB declared some inconsistent steps at its December meeting, leading to fluctuations in the eurozone currency. EURUSD ended on Friday at 1.12357.

The BoE opened the rate race, raising the benchmark from 0.1% to 0.25%. GBPUSD ended the week unchanged at 1.32318 but with ups and downs of 1.5% each way.

The BoC mentioned the likelihood of hiking the rate next month. However, the hawkish statement didn't help the Canadian dollar get stronger. USDCAD rallied to a multi-month high and closed at 1.28900 on Friday.

BULLISH TRIGGERS

USDCAD outperformed all majors by reaching 1.29383, the highest level since August. The previous weakness of the Canadian dollar was due to the rise in number of Omicron cases. This situation implies inflow of funds into safe-haven assets, retreating from the riskier currencies.

BEARISH TRIGGERS

The ECB announced its monetary policy decision by ending tapering towards next March. EURUSD climbed to a monthly high of 1.33742. Later the central bank specified it would hold the low rate and restart the emergency support. EURUSD turned the opposite way and passed the 1.50% drawdown afterwards.

GBPUSD rocketed to the monthly top of 1.3357 upon rating announcement. The next day the British officials released new social restrictions due to the Omicron impact on the economy. GBPUSD fell to 1.32318 and lost all previous gains.

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Gold comment on December 28, 2021

Closing yesterday's session, precious metal Gold can gain 1 day.  The price fell slightly at 1802 then went up again around 1813, closing the daily candle around 1811. With the following high higher than the previous high and the increasing force appearing gradually, in my personal opinion we will be biased.  on the uptrend in this precious metal in early trading today.

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 - Currently, Gold is still facing resistance at around 1813-1815, so it is likely to correct slightly in the beginning of the session.  And if Gold has a correction to 1802-1806 today, we can buy with a safe target of 1813 and expectation of 1817-1820 in today's session.

Today's Market Important News by Money Life Research

 In this week market will be a little more volatile and unstable than usually as we are between Christmas and New Year. 

So during this week, we recommend to risk around 0,7% / 1% / 1,5% beacuse it will be more safe. 

Also, we will send signals only if we find very clear setup, so it is possible, that less signals will be sent. But don’t worry, after New Year we will make up for it 💪 2022 will be our best year in trading and I hope that you will be with us during it 🚀

We provide Best Gold Trading Signals with technical and fundamental overview.

XAUUSD Fundamental Overview

 XAUUSD H4

 This morning’s price opened at the 1790.00 level and made a price pullback, early this morning after yesterday’s market created a bearish candlestick on the H4 timeframe.  Yesterday’s rise came to a halt after a candlestick made a price decline at 1800.00

 Since the overall price movement is dominated by the downtrend, it is very likely that the current market reaction will act similarly.  This is seen again, on the rejection that takes place thus creating a rejection candle stick.  Here are the early signs of a decline through chart readings.

 So here is the price of support and resistance that is closest today is at the level:-

 R1: 1794.00

 R2: 1800.00

 R3: 1810.00

 ------------

 S1: 1788.00

 S2: 1782.00

 S3: 1772.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

 Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

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Xauusd Overview: Technical and Fundamental Analysis

Yesterday's market price trend was dominated by a price pullback after a strong rise on December 15.  Also included is a decline from the resistance level of 1815.00 currently between the 61.8 and 50.00 levels on the Fibonacci Retracement.

1790.00 market price opened today after market movement made a pullback from the highest price.  Judging from the chart, the decline did not create momentum and stopped at 1790.00 where it was the last support area.

 So here is the price of support and resistance that is closest today is at the level:-

 R1: 1794.00

 R2: 1800.00

 R3: 1810.00

 ------------

 S1: 1788.00

 S2: 1782.00

 S3: 1772.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

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Comment on Gold on December 21, 2021

 In yesterday's trading session, precious metal Gold had a day of decline exactly as analyzed when the price fell from 1804 to 1788, closing the daily candle with a bearish candle around 1790. With Gold.  has shown a clear decline when touching the resistance area of ​​1814, in my opinion precious metal Gold will still be under downward pressure in the beginning of today's session.

Switching to the h4 time frame we can see the nearest resistance area pushing down the price of this precious metal around 1794-1798.  Here we can refer to a short signal with target 1785-1781.

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Todays Overview on XAUUSD

 Yesterday’s movement continued until the London session opened today.  An increase of up to $ 57 accumulated from the start of the increase from yesterday.  This puts the current market in a resistance area for horizontal movement.  In the Weekly timeframe for the last week a reversal candlestick has formed and like this week a bullish engulfing is created if today’s market price closes like that.

 At the current price ditimeframe H1 the uptrend still dominates the market price, but the technical aspect sees that the resistance level in the trendline has been reached so far.  Here is a sign that a possible withdrawal may occur.  Especially if the current price creates a reversal of direction

 However, the large gap of the resistance area between 1808.00- 1817.00 makes trading at this point need to be cautious.  Because this is just the beginning

 Therefore, looking from the market history for October and November, the mentioned area was once tracked when the price reached in the horizontal area.  So here is the price of support and resistance that is closest today is at the level:-

 R1: 1782.00

 R2: 1788.00

 R3: 1798.00

 ------------

 S1: 1776.00

 S2: 1770.00

 S3: 1760.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

 Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

www.moneylifeconsulting.com

Latest Important News on Gold

 📕 Comment on Gold on December 16, 2021

 After a news sweep down around 1752, precious metal Gold bounced back up to 1780. Closing the day session with a bullish push candle, after the Gold sweep regained momentum because  Therefore, it is likely that in the beginning of today's session, the upward force will continue and head to the nearest resistance around 1790.

Switch to the H4 time frame, the nearest support area for this precious metal is around 1768-1774.  Here we can establish a long position in this precious metal with a safe target around 1790.

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Weekly Overview on Currencies

Currencies

MARKET VIEW

Weekly changes: EURUSD +0.07%, GBPUSD +0.33%, USDCAD –0.78%

EURUSD closed the week at 1.13130. The pair hasn't changed since last week, as the forthcoming meetings of the American and the eurozone central banks put the trading activity on hold.

GBPUSD rose to 1.32658 by Friday. The 0.65% intraday growth slowed the pair's second half of 2021's ongoing decline.

USDCAD declined by 1.7% to 1.26025 by Wednesday and made a u-turn to 1.27208 due to the crude oil rally.

BULLISH TRIGGERS

EURUSD awaits the central bank's decisions. The Fed and the ECB have opposing preliminary tones of voices. Due to this, investors anticipate significant volatility upon the final solutions of central banks.

In the meantime, the American CPI report made the U.S.dollar slip against a basket of currencies to 96.05. EURUSD reached its semi-annual low at 1.11824, and the pair might extend its further decline to 1.10.

GBPUSD has declined by more than 6% since June. By Wednesday, it touched the current year's low of 1.31596. The recent developments around the new COVID variants bring uncertainties to the terms of the possible rate hikes by the BoE. The ongoing Brexit dispute also weighs upon the British pound.

BEARISH TRIGGERS

USDCAD declined to 1.26025 by Wednesday, its lowest in three weeks. But later, the BoC had disappointed investors by leaving its key rate unchanged, despite the elevated inflation in the country.

The Canadian dollar pulled back from its strongest level, and the pair had made a 1% rise afterwards. Moreover, oil prices grew as concerns over Omicron fears eased, boosting USCAD dynamics.

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Daily Overview on XAUUSD

The price increase before the market closed last week made today’s price open above 1783.00 earlier this week.  The choppy movement gap dominated the past market price, which raises the question of whether this week the current market will move actively through the downtrend movement or so on.

 On the price increase at the end of last week, looking at the current chart there has been a price pullback early this morning.  The pullback tested the open price level of 1783.00 and created engulfing on the H1 chart.

 The price position is currently at the nearest resistance level where 1786.00, to see if the next market conditions move in line with the price movement earlier this morning.

 The candlestick created on the H4 chart has shown a breakdown indication at the price high for the past Friday.  It is likely that today’s market price will be dominated by an uptrend if in H4 it does not create a new downtrend.

 The nearest support and resistance price areas today are at:-

 R1: 1786.00

 R2: 1792.00

 R3: 1802.00

 ------------

 S1: 1780.00

 S2: 1774.00

 S3: 1764.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

www.moneylifeconsulting.com

 Finally, to see more active movement it is recommended to wait for trading opportunities in the evening.  Have a safe trade.

Comment on Gold on 10/12/2021

World gold had a slight decline yesterday around 1773 when the US released data "The number of applications for unemployment benefits" fell to the lowest level in 52 years.

 - The number of first-time jobless claims in the US increased lower than expected, when there were only 184,000 more applications last week, compared with the initial forecast of 215 thousand.  This number decreased by 43 thousand compared to the previous week, and also the lowest level since September 1969.  Positive data put downward pressure on Gold.  And gold sometimes declines around 1773.

- Gold has moved quite narrowly this week as there are not many important economic data to be released except for tonight's CPI data.  If tonight's CPI data is released above expectations, Gold will be under strong downward pressure. Because the Fed's meeting next week may send a clearer tightening signal.

 - Gold broke the small ascending channel giving bearish pressure.  In this morning's trading session, it is possible that gold will correct slightly to the 1780 zone and then continue to go down.  Take profit target at safe zone 1770-1760.

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Comment on Gold on December 9, 2021

 In yesterday's session after precious metal Gold rose to 1793, the price corrected down to 1779 and rose again to 1786. Closing the day session with a slight bearish candle.  However, this downward force was not too strong, closing the daily candle was still at a high level compared to the previous days.

Moving to the H4 time frame, we can see that Gold is currently supported by MA20 around 1782 and in my personal opinion, this uptrend will be maintained in today's session.  The safe profit-taking target will be the 1794-1800 price range.

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Today's Gold Analysis

 XAUUSD H1

 The duration of yesterday’s movement which only moved in a steady-state formed an uptrend trend after the US session opened last night.

 The language of the chart shows that the price of 1772.00 was tested late last night and the trendline was tested as well as forming a bullish engulfing timeframe M15 and a $ 10 rise until early this morning took place.

 Yet overall the market price is now still dominated by price movements in a downtrend, therefore I attach a potential key level for the price to move today.

 R1: 1788.00

 R2: 1794.00

 R3: 1804.00

 -----------

 S1: 1782.00

 S2: 1776.00

 S3: 1767.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

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