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Ammeo
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Everything posted by Ammeo
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IF price can fly through 1205-08, next level to break would be 1240-50 Nice support building around 1190
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Might get a bounce at 1.2485 or 65.......for 1.2575
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Possible to see 118.50 before the end of the week! I will be monitoring that level closely. If we break above I will keep my longs. If we don't, then I will look at maybe scalping this consolidation range!
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Pound looks in a slightly better shape than eur/usd, but the end of the story should be the same. It has to go down and reach lower lows in the same fashion as eur/usd.
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EU i think it could further fall to 1.2350-1.2300 range before maybe a little 50-100 retrace up then further fall!!
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I wouldn't be surprised to see it drop to 117/116.50 before continuing back towards 119 and beyond.
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Gold Prices Expected To Rise Next Week – Survey Participants Friday November 21 A majority of survey participants in the weekly Kitco News Gold Survey see higher prices next week. In the Kitco News Gold Survey, out of 36 participants, 23 responded this week. Of those, 14 see prices up, while six see prices down and three see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts.
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Survey Participants Look For Softer Gold Prices Next Week The majority of participants in the Kitco News gold survey say they look for the metal to be on the defensive during the week ahead. In the Kitco News Gold Survey, out of 36 participants, 19 responded this week. Of those, five see prices up, while 11 see prices down and three see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts.
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Gold Prices Expected To Fall Next Week Friday November 7, 2014 A majority of participants in the weekly Kitco News Gold survey expect prices to fall next week, with Friday’s rally seen as a selling opportunity. Out of 36 participants, 23 responded this week. Of those, six see higher prices, 14 see lower prices and three see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.
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Who would have thought 115 will be hit so soon. It was there in the background somewhere and been talked about but it will hit 115 from that 106-07 level in just a month or so was so unexpected.
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added 5912. looking for 5860
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Sorry for the late reply.. Imo the global growth slowdown is not going to make the Fed anymore dovish than it already is, especially since U.S growth continues to be strong and sustained, even after Quantitve Easing has finished up and may result in further downtrend in Gold vs USD this week.
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If we can break down below the 1.25 level on a daily close, we would be very bearish and we would continue to sell this market.
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Welcome everyone to this forum. I hope u all will have a good time here.
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I would back the statement. Further downtrend may be expected..
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Dont think would be dropping below 110 today though...Overall trend is upward but we could see a downward correction from time to time... Even BOJ is pessimist about their economical strength and had predicted this lacking of Yen's strength long ago..
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U were right..110+ it did . I think another drop to the 106-107 zone is ow coming on it again in November..
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Credit Agricole Looks For Gold To Stabilize In 4Q, Soften In 2015 Credit Agricole sees gold stabilizing in the fourth quarter on “conflicting” influences but then soften in 2015. There is potential for long-term exchange-traded-fund investment to be further reduced, which could weigh on gold in dollar terms. “In the absence of a more persistent financial scare -- not in our forecasts -- this moderation in longer-term investor demand should continue,” the bank said. “Central bank diversification away from gold continues, removing a previous source of support,” Credit Agricole said. “However, speculation surrounding potential SNB purchases, lifting its share from the current 8% to 20% -- over five years -- could reverse this trend if the Swiss vote ‘yes’ in a referendum on 30 November.
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Technicals are looking strong at this moment for the upside. Great consolidation around 108. Slight drop to 107.50 is possible with a max drop of 107 this week. However, climb back to 109 is far more likely come medium term.
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If usd starts to fly high gold will hit 1200 easy after fed, if usd tanks then gold will go up to 1240 easy
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Thnx for the info.....
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I think today is a down day for the pair after the FED meeting.
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The bad reports on Core Durable Goods Orders and Durable Goods Orders may take it further down tomorrow.
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Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data For the second straight week, large speculators added to their bullish Comex gold futures and options holdings as prices rose during the timeframe covered by the Commodity Futures Trading Commission weekly data. Gold was the only metal to see a rise in bullish positions in the disaggregated and legacy reports for the time period ending Oct. 21. As it was in the previous report, the situation was mixed for rest of the metals complex. In silver, funds trimmed a net-short position in the disaggregated report and reduced a net-bullish position in the legacy data. In the platinum group metals, large speculators cut bullish exposure in both reports, while in copper, funds raised their net-short position. Analysts at Commerzbank noted the net-long positions held by large speculators have doubled in the past two reports and they express some caution. “The price rise of around $40 per troy ounce in this review period was thus largely speculatively driven und therefore has a shaky footing in our view,” they said.
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A break down below the 1.2613 level has the market heading to the 1.25 level, just as a bounce from here should have sellers stepping in near the 1.28 level.
