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Ammeo
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Everything posted by Ammeo
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Survey Participants Have Split Views On Gold Price Direction Next Week Views on where gold prices will go next week are split in the weekly Kitco News Gold Survey, with only a nominal number of survey participants seeing higher prices. Out of 37 participants, 23 responded this week. Of those, 10 see higher prices, nine see lower prices and four see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.
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108.9 to 109.22 looks to be the only barrier in the way. If it is to move up.
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This fomc increase seems to create a new market here. I doubt it'll be going back to 1200-1210 range in near time.
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Most immediate resistance point is .89 but if we break this I would be looking at .92 for a retest of the range breakout.
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Until 1.2690 - 1.2700 is convincingly broken to the downside this is still a breakout retest for the bulls and probably being viewed as a good buying opportunity by many, just saying bears beware.
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Dollar has been lower this week with the market discounting what appears to be a weaker global growth. I think the FED will start to pull USD back against the main currencies, or the damage will be big for them.
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Technically we are approaching another level of technical support at the 1.5850/1.5900 area and we are still close enough to the 1.6000 level (50% retracement of the 1.4815/1.7190 bull run from 7/2013 to 7/2014). So while more downside is definitely possible, I see no more than approximately 100 points form current levels and a bounce from here is also not to be excluded.
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USDJPY has gone from 101 (June 2014) to almost 110 (October 2014).. Just 5 months...wow Traders could have made hundred of thousands has they gone long into it 6 months ago and held until now..
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NFP shows good employment data and unemployment rate dropped below feds target rate of 6.0%... this is good news for that rate hike... since both of these are important to the fed. Thats gr8 for the USD...
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INTL FCStone Sees Gold Testing $1,180/Oz During October INTL FCStone looks for gold to test the 2013 double-bottom of around $1,180 an ounce sometime during October. Prices fell during September on a number of factors, the firm says. “Most importantly, the surging dollar hit gold hard, as did the still-buoyant U.S. equity markets,” the firm says in its monthly commodities outlook. “Although we did get two rather serious equity corrections this week and last, the selling did not result in much of a rally for gold. Secondly, the Fed will now likely be the ‘first mover’ in raising rates -- just as other central banks are easing -- and this is also weighing on gold by strengthening the dollar even more. Third, although there are a host of hotspots all over the world, these are not doing much for gold, as they are not generating economic dislocationsthat would be normally be bullish for the precious metal.”
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Survey Participants Remain Bearish On The Gold Price Outlook A majority of participants in the Kitco News weekly gold survey remain bearish on prices for the metal next week, continuing to say the strength of the dollar weighs on gold. Out of 37 participants, 26 responded this week. Of those, seven see higher prices, 16 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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We are almost near the 1180, not sure if we would go further down the 1180 point..
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Currently 109.84. 110+ today easy. Probably 110.50 this week if the US news is good.
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The next target could probably be the 1.25 level seeing how things turned out in the last couple of days.
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EUR/USD formed an inverted hammer candlestick in the four hour filter chart and headed up. Considering that there's also very strong support in the 1.2660-1.2700 zone. Anyone think it'll go up from here??
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USDJPY trading above the daily 20 SMA and the MACD is trading to the upside. Bullish Bullish Bullish
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Some updates on major bank trades.. September 23, 03:37 AM – Credit Suisse's limit order to Short EUR/USD (Short-Term) got canceled September 23, 03:40 AM – Credit Suisse placed a limit order to Long EUR/USD at 1.28, with a target at 1.299 and a stop at 1.2755 (Short-Term) September 23, 05:57 AM – Morgan Stanley adjusted stop from 1.295 to 1.29 on its EUR/USD Short (Short-Term) September 23, 07:59 AM – Morgan Stanley's EUR/USD Short closed at 1.29 (Short-Term) 0 pips September 25, 02:20 AM – Credit Suisse stopped out of its EUR/USD Long circa 1.2755 (Short-Term) for a loss of -45 pips September 25, 04:40 AM – Credit Suisse entered EUR/USD Short from 1.2745 (Short-Term) September 25, 06:37 AM – Morgan Stanley adjusted entry from 1.306 to 1.28, adjusted stop from 1.316 to 1.29, adjusted target from 1.25 to 1.24 on its limit order to Short EUR/USD (Short-Term)
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If China doesnt want the Gold then no one in the world wants the Gold.. Commerzbank: 2014 Chinese Gold Imports 'To Fall Well Short' Of Last Year' Friday September 26 Chinese gold imports from Hong Kong remain subdued, says Commerzbank. Analysts cite data from Hong Kong’s Census and Statistics Department showing China imported only 27.5 metric tons of gold on a net basis from the former British crown colony in August. “This puts net imports only slightly above the previous month’s low level, which constituted the lowest figure since June 2011,” Commerzbank says. “Chinese net gold imports from Hong Kong have totaled 497 tons since the beginning of the year, 33% down on the corresponding period last year. Chinese gold demand looks set to fall well short of last year’s total even if it picks up in the next few months. The weak gold demand in China is one key reason for the slump in the gold price over recent months.
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More Bearish news... Survey Participants Forecast Lower Gold Prices For Next Week A majority of participants forecast lower gold prices next week in the Kitco News Gold Survey as dollar strength and bearish technical-chart formations weigh on the metal. Out of 37 participants, 20 responded this week. Of those, four see higher prices, 12 see lower prices and four see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.
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U mean its gonna go down back to 108? i personally dont think thats gonna happen. Id rather say it'll be 109 sooner rather than later and then to the Holy Grail (the 110 mark) that everyone has been talking abt.
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Passed the weekly open/high and forming a parabolic rally on the daily. Some more bullish signs.
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Looks like its gonna go another 80-120 pips down further to around 1.2618 maybe even 1.2590. 1.2678 to the least
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Currently in a short from 1244 hoping it to hit 1215- 1200 range by the end of the week if not earlier...
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We are still in range and the bearish trend still stands price will be facing 1.2800 the strong support bt still i think it will get broken in some time if not sooner...
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This pair is having hard time getting up to the 900 area today.
