Oil bears take control once again

It’s been an interesting few days for oil traders as OPEC’s decision and comments to take on the alternative energy market head to head in a price war, is likely to dictate the longer term direction for some time to … Continue reading

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Patience for gold investors – the good days will return!

Whenever I begin to write any analaysis of the gold chart I always do so with a slightly heavy heart, as I am very conscious of the strong emotions the precious metal rightly generates. For many, gold is the ultimate … Continue reading

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USD/JPY finally breaks out in all timeframes!

For longer term USD/JPY trend traders, the last few weeks have been ones where patience, patience and yet more patience have been the key as the pair continued to trade in a narrow range on both the daily and weekly … Continue reading

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US dollar surges higher as bullish momentum returns

Friday’s speech from Fed chair Janet Yellan rounded off a seminal week for the markets, with the US dollar bulls returning in force as her comments continued to confirm the prospect of an interest rate rise during 2015, provided economic data … Continue reading

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Another false dawn for gold bugs ?

For gold bugs and longer term gold investors, it’s been another frustrating week as a further attempt to rally came to a shuddering halt on Tuesday, as the US dollar rose Lazarus like from its bed, surging higher and sending … Continue reading

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Signals were there on the CAD/USD daily chart

The recent rally for the CAD/USD which has seen the futures contract rally from the lows of late March in the 0.7820 region, to the recent highs of 0.8380 now appears to have run out of steam, with the daily … Continue reading

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Copper and base metals falls on strong USD and weak Chinese data

Copper, along with several of the other principal base metals fell sharply this week as a resurgent US dollar drove many commodities lower, with both gold and silver also selling off strongly. For the base metals market it was Nickel … Continue reading

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US dollar index gains as euro index looks weak

It’s been an interesting week for US dollar bears, as the currency of first reserve bounced back strongly, surging higher on Tuesday and Wednesday ahead of today’s FOMC minutes, and even the apparent confirmation of a pull-back from a June … Continue reading

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US dollar finds some love at last

Last week was once again a bearish time for the US dollar which continued the longer term negative sentiment on the daily USDX chart, with the price breaking through the key platform of support in the key 11,750 region. The … Continue reading

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Some good news for gold bugs at last!

Last week was a positive one for both gold traders and investors, in spite of the longer term outlook for the precious metal still looking bearish. Nevertheless gold bugs will have been cheered by four straight days of gains, which … Continue reading

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A dramatic week for US equities

Once again its been an interesting week across all the major markets with the US dollar becoming increasingly bearish,  a slew of less than stellar economic data in the US, and the increasingly unpredictable behaviour of bond markets, particularly in … Continue reading

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USD index, EUR index and JPY index all testing key levels

From a technical perspective, yesterday was another important one for the US dollar index on the daily chart, with the currency of first reserve weakening further against the four principle currencies of the GBP/AUD/EUR and JPY and closing with a … Continue reading

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WTI oil futures continue to build bullish momentum

Whilst one swallow does not a summer make, it was another positive day for the price of oil yesterday, with the WTI June futures contract moving firmly through the $60 per barrel level to close at $60.75 per barrel on … Continue reading

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Volatility ebbs away for gold as it continues to consolidate

With the US dollar currently in a consolidative phase, gold is also pondering its next move as it continues to trade within a tight range. Volatility has certainly drained away since last week which saw the GVZ index trading around … Continue reading

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US dollar index continues to consolidate

Last Friday’s non farm payroll almost came and went with a whimper, and whilst the headline number was in line with expectation, and certainly an improvement on the previous, the jobs data itself failed to provide any meaningful momentum for … Continue reading

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A day is a long time in politics … and for the GBP/USD!

  They say a week is a long time in politics, but given the events of the past 24 hours perhaps we can now say this could equally apply to a day. Until 9.59pm last night UK time, all the … Continue reading

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Spot the buying on the YM emini – and no prizes

One of the most popular weekly competitions that used to run in the newspapers here in the UK was called ‘Spot The Ball’. The object was very simple and required you to place crosses on a photo from which the … Continue reading

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Gold consolidating and moving to test key support…again

The extended consolidation phase for gold has continued once again this week with no end in sight just yet, and with bond markets now in turmoil many of the traditional relationships are breaking down or have already decoupled. In answer … Continue reading

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