Gold Continues to Rise, Reaches $1,129 an Ounce!
November 16, 2009 by ForexYard
Filed under Daily Forex Analysis
Gold:
The commodity has reached an all time high yesterday at $1129.72 and has continued its. The uptrend is not showing definitive signs of slowing. The daily chart shows the pair has consistently traded in the upper half of the chart’s Bollinger Bands. This may indicate a strong uptrend. Until we see the commodity cross the 20 day average line suggesting the trend is weakening, forex and gold traders may want to continue to be long on gold.
U.S. Trade Balance Data to Set the Pace of the Dollar Today
November 13, 2009 by ForexYard
Filed under Daily Forex Analysis
Crude Oil:
Crude Oil dropped significantly yesterday and it is currently trading around $76.80 per barrel. However, there is a bullish cross on the 4-hour chart’s Slow Stochastic, suggesting that the recent downward trend is loosing steam and that a bullish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.
Dollar Anticipates Release of U.S. Unemployment Claims
November 12, 2009 by ForexYard
Filed under Daily Forex Analysis
Gold:
Gold has experienced much volatility today, as it now stands at the $1120 mark. The RSI of the daily chart shows that the commodity is floating in the overbought territory, signaling that a bearish move may be underway for Gold today. Additionally, there seems to be a recent bearish cross that occurred on the Slow Stochastic of the daily chart. Going short with tight stops may turn out to pay off for forex traders today.
The Dollar Up Slightly but Still Vulnerable
November 11, 2009 by ForexYard
Filed under Daily Forex Analysis
USD/MXN:
After it recent bearish streak a correction may be imminent. A fresh bullish cross is evident on the hourly and 2 hour Slow Stochastic with the RSI floating in the oversold territory on the hourly and 4 hour charts. Forex traders have an opportunity to take advantage of the impending correction.
Dollar to be the Driver of the Forex market Today
November 10, 2009 by ForexYard
Filed under Daily Forex Analysis
Gold:
Gold sustained upward movement has finally pushed its price into the over-bought territory on the daily chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.
