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Spot Gold: Can inflation moves the yellow metal?

Good day traders! Technically, its back into the triangle. A break to the upside would open up more moves towards 1330 and 1344 resistance leves. On the other hand, a break to the downside would expose gold to further decline towards 1276 and 1240 support levels. Either breaks if coupled with high volume its worth…

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Forex: Strong greenback hit the Euro hard

Good day traders! First, lets take a look at the US Dollar Index daily chart; There’s a strong resistance area at 81.54; marked by the two orange ellipse on the daily chart, where the Dixie finds it hard to break. And the last time it fell, it fell hard. Now, with more positive outbeat from…

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Spot Gold: All eyes on the US data

Good day traders! Technically, we’ve been in this situation before where the gold price moves inside a triangle pattern and then it broke well towards $1240. With fundamentals supporting the demand of the yellow metal, it then move upwards before reaching the high of $1344. The fundamentals are still there; the war is still here…

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Spot Silver: From consolidation to breakout

Good day traders! The consolidation period for silver right now is under threaten. Historically, you need not look further down as the last breakout happened on the 19 June 2014 (marked by the yellow ellipse), confirmed by a long white (green in this chart) candle. With more long long shadows on the candles presents, it…

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Spot Gold: High wave candles at the top

Good day traders! Looking at the above chart, technically it seems that the bulls run have running out of steam. Dojis in the form of high wave candles (rickshawman, hanging mans, spinning top) provided some clue that the gold market may have reached the top. First resistance can be found at 1330, which is the…

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Spot Gold: Challenging the upper downtrend channel

Good day traders! Technically, the yellow metal is in a short term bullish trend with the nearest resistance come in the form of down trend channel. Breaking this channel, there’ll be another resistance level at 1292 and the psycho level 1300. More resistances can be seen at 1315 and 1331. Daily RSI is pointing up…

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Forex: RBNZ cash rate at 3.25%

Good day traders! This morning at 5.00 am Malaysian time, the Reserve Bank of New Zealand had raised their cash rate, or interest rate as what they call it in the US, to 3.25% from previously 3.00%, a jump of 25 point basis. And followed after are a series of statements from the RBNZ’s Governor…

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