Gold Forecast

The gold markets fell during the course of the week, crashing through the vital for hundred dollars level. Because of this, we feel that the market is probably going to continue lower, but we also recognize that there is going to be a significant amount of volatility, making this a market that you do not want to trade from a longer-term perspective. We believe that short-term traders will continue to dominate the marketplace, so therefore we will look to shorter-term charts for trade set ups.

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FORECAST
Gold markets fell during the session on Friday, slicing through the $1180 level. Because of this, it appears that the market is ready to continue going a bit lower, especially considering that the US dollar has broken out. A stronger US dollar should continue to put significant pressure on gold markets, and commodities in general. With that, it’s very likely that this market should continue to drift down and trying to find support somewhere near the $1160 level, or perhaps the $11,400 level. We believe that the market will probably bounce from that area.

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Bearish trend | AUD/USD

Waiting for price action to offer  opportunity down the road.     

  The major trend of AUD/USD is bearish, but from last few days it has shown profit booking in lower levels. In its hourly chart prices are sustaining below the falling trendline & consolidating with a positive bias. If the pair breaks the level of 0.7800 & sustains above it then we can expct it to test the level of 0.7840 in today's session.

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STRATEGY:- For Today AUD/USD is looking strong on chart. We can expect positive side movement for few upcoming session. One can go for buy on dips strategy for this pair for intra day positions.

                                                         Technical Report

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1207	1.1254	1.1329	1.1376	1.1451	1.1498	1.1573
GBP/USD	1.5047	1.5127	1.5256	1.5336	1.5465	1.5545	1.5674
USD/JPY	116.27	117.38	118.25	119.36	120.23	121.34	122.21
USD/CHF	0.9173	0.9212	0.9260	0.9299	0.9347	0.9386	0.9434
AUD/USD	0.7517	0.7579	0.7657	0.7719	0.7797	0.7859	0.7937
EUR/GBP	0.7281	0.7325	0.7368	0.7412	0.7455	0.7499	0.7542
USD/CAD	1.2200	1.2318	1.2412	1.2530	1.2624	1.2742	1.2836
NZD/USD	0.7154	0.7233	0.7330	0.7409	0.7506	0.7585	0.7682

Pound Looks to Financial Stability Report to Drive BOE Rate Hike Bets

Pound Looks to Financial Stability

Your spotlight turns towards the Bank of England yet again in European trading hours as Governor Mark Carney presents the actual bi-annual Financial Stability Report (FSR). The document is anticipated to feature measures to be able to cool the frothy UK property industry. The pace involving housing price increases accelerated into a year-on-year pace involving 11. 1 percent in May in accordance with data from the actual Nationwide Building Society, marking a seven-year substantial. The central bank’s very own data shows BRITISH citizens owe a hefty £1. 2 trillion on their homes. That has officials focused on excessive levels involving debt, which could lead to a crisis akin to the us mortgages fiasco that metastasized in to the 2008 credit meltdown and subsequent international recession.

The FSR’s effect on the British Pound will largely indicate its implications pertaining to BOE monetary policy normalization. If the report suggests that the need to cool exuberance within the housing market can meant that rate hikes are needed prior to might otherwise are the case, Sterling will probably move broadly increased. The absence involving distinctly hawkish unsupported claims – a sensibly likely outcome contemplating Mr. Carney has formerly voiced his support to get a macro-prudential rather in comparison with rates-driven policy reply – may keep Pound bulls let down and open the threshold for disappointed marketing. GBPUSD has ripped back from recent highs ahead of the FSR’s release, losing its grip on the 1. 70 figure, while EURGBP provides recovered above the actual 0. 80 mark.


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Technical Trend and Levels for Gold for Today

COMEX Gold Today

Based on the pattern prevailing in gold on May 28, it is clear that a strong downward price movement resumed and Murray worked level "1/8". Senior channel is directed downward, indicating that the downward direction of motion of the global trend . Low channel also turned down which means the downward direction and in the medium term. At the moment the price is below the moving average and below the Murray "2/8" , which tells us about the possible downstream movement in the short term . The first purpose of downward movement, thus, is Murray level "1/8" - 1265.63 already achieved . If this level of price overcomes Murray, the new Target will be the level of Murray "0/8" - 1250,00. The moving average is directed downward , and the price is below it, so now more likely downward movement in the coming days. Heiken Ashi colored bars in the last blue, which indicates the local downward motion, so to top of the indicator, which would mean turn upward correction, can maintain short positions. Longhi will be relevant only after fixing prices above the moving average and turn up any linear regression channel. The CCI indicator is about the level of -200, indicating that there is a strong tool oversold, so may soon begin an upward pullback.