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Biden, Putin Summit to Drive Gold Lower The price of gold is currently consolidating below the 23.6 per cent Fibonacci retracement level at 1858.07, in anticipation of future price depreciation. These expectations are substantiated by the fact that the consolidation is taking the form of a Bearish Triangle, which is typically taken to represent a downtrend continuation pattern. In other words, once the price action breaks down below the lower boundary of the triangle decisively, this would allow for the continuation of the broader downtrend. Notice that the lower limit of the structure is converging with the 23.6 per cent Fibonacci, which would make such a breakdown even more prominent. The price action is also concentrated below the 20-day MA (in red) and the 50-day MA (in green), which is yet another attestation of the prevailing bearish bias. Meanwhile, the MACD indicator manifests waning bullish momentum. Today's summit is likely to strengthen this bearish pressure as global tensions subside, thereby driving the price of the commodity lower.
GShort
by Trendsharks
USDRUB short short short!Hey there! Very simple setup explained in the chart. Basically stay short and if the pair closes above resistance look for very opportunities. If you have any questions please leave them in comments. Did you like the idea?? Give us a thumbs up!! Do you have a different view and analysis? Let us know in the comments. I love to be proven wrong. It is the only way to become better. Remember that trading is only part of your life. Do not spend all day in front of the screen!! Surf, Trade, Live!!
Short
by MicKi
The week results: many events but few changesThe previous week was rich in important events, some of which can be formally classified as “game changers”, but judging by the dynamics of prices in the financial markets, the game did not undergo any special changes. Let's start with the most global. The United States and China signed documents on the first part of the trade deal. But there was no euphoria - almost immediately it became clear that this was really only the first step towards solving the problem. Hundreds of billions of dollars in tariffs remain in force, and harm to the global economy will continue to be done. China's GDP growth rate in the fourth quarter of 2019 was minimal over the past 30 years, which is the best illustration of the previous phrase. Other macroeconomic statistics released last week clearly confirmed this. The UK was the most disastrous data: GDP, industrial production, retail sales - all in the red and much worse than forecasts. Statistics from the US and the Eurozone also did not shine: industrial production in the States and the Eurozone came out in the negative zone. In general, against the backdrop of such statistics, we were once again surprised at new historical highs in the US stock market and became even stronger in our belief in its imminent decline. Madness cannot last forever. We already wrote about Putin’s initiatives and Medvedev’s resignation in Russia. We only note that the sale of the Russian ruble after the sale of shares in the US stock market and gold purchases, in our opinion, is one of the most promising positions in the financial markets as a whole. Speaking of gold. After the gold sellers could not get anything out of the signing of the agreement between the USA and China, we became even more fond of buying this asset both within the day and in the medium term, especially after gold returned above 1550. The Japanese yen, although it looks weakened, also It is a good alternative to gold, but in the foreign exchange market. Speaking about the upcoming week, we note that it promises to be even more interesting. It can be called the "Central Banks Week". The Bank of Japan, Bank of Canada and the ECB will announce their decisions on monetary policy parameters in their countries. And although experts do not expect global changes, given the weak form of the global economy, one can count on fairly “pigeon” sentiments in the ranks of the Central Banks.
Short
by Trade24Fx
The US & China, Russian reforms and an oil situationAfter the United States and China completed the first phase of negotiations, the result of which was not as rosy as many expected, the markets decided to take a break and continued to develop existing trends. Note that the current optimism has exhausted itself. But the negative on the horizon more than enough. Only the first step has been taken. Now the parties need to move on and begin the negotiation process on phase number 2. Given that the first phase was an extremely painful process, we are waiting for a problem on the way to the second. Do not forget also that the first phase still needs to be performed. For example, China must buy hundreds of billions of dollars of agricultural products from the United States. Not the fact that he will do it. Therefore, you should not expect a happy ending in the foreseeable future. Accordingly, we continue to look for points for the purchase of safe-haven assets both within the day and in the medium-term - gold and the Japanese yen. The growing pressure on the oil market is largely due to market concerns. Trade wars have shown themselves to be extremely destructive. Their continuation is further damage to the global economy, which in turn will lead to a decrease in oil demand. Nevertheless, we consider current oil prices favorable for intraday purchases (with small stops). The situation in Iran is very unstable; in Iraq, too, not everything is calm. That is, problems with the supply of oil on the market can arise at any time. In the news plan, the most interesting continued to happen around Russia and the Russian ruble. A more detailed analysis of the situation and our recommendation to sell the Russian ruble we will do in a separate review. In the meantime, we note that many experts perceive the dissolution of the Government and Putin's initiative to amend the Constitution as the next qualitatively new level of the usurpation of power. Which in itself is bad, because it deprives at least some hope of a change in the course and manner of behavior of the Russian Federation in the international arena with all the ensuing in the form of sanctions and the role of the rogue state. As for macroeconomic statistics on Thursday, the main event of the day was the publication of data on retail sales in the United States. The data came out exactly as part of the forecasts. Today, in the news plan, it is interesting with data on China's GDP (released as part of forecasts), as well as retail sales in the UK, inflation in the Eurozone and industrial production in the United States. In general, the day promises to be eventful, which means movements in the foreign exchange market and, accordingly, the possibility of earning.
Long
by Trade24Fx
In Soviet Russia, Money Buys YOU! - (USDRUB)Hello Traders! The Ruble has been in a steady uptrend for a while now. It's no secret that Russian debt, lowest of developed nations (Roughly $200B) is so low now that Russia claims to have enough cash on hand to cover their debts completely. After the last Russian economic crisis, policies under Putin have sought to eliminate debt and generate faith in the economy. I believe strong fundamentals combined with positive technicals create here a wonderful long opportunity! We can start layering in immediately. Even TD9 shows an imminent buy opportunity. Be careful of manipulation! Stay safe and good luck traders.
Long
by vox-populi
World Cup of Leaders - Road to Disaster or FreedomThere are similarities with Venezuela. It's look like Trump and Israel doesn't wan't to loose power in middle east. They are some good projects like: *new silk road to istanbul *drilling for oil and gas near Cyprus in the near future Battle cards tell you truth. Turkey+Russia+China+Iran have now more power and control in middle east. Trump + Israel have more finance and weapons. 2019/2020 will tell us what will happen next. It's Endgame and there is no more time left to try again. 2020-2025 are critical years for world freedom. Gold, Silver, Crypto will skyrocket this year.
Long
by hypercraft
2
XAU // Gold //YoloGold is hovering above 1170 support - its worth watching. I expect a rally on market open, as gold tends to rally during Asian Sessions in early January - judging by historical data. As there is official US claim of Russian involvement in US elections, mild upmove is likely, yet not certain since markets are waiting for what stance will Donald take on this whole matter. There will be Trump's press conference on 11th Jan before his inauguration - you can expect a volatility there BOC is actively devaluing Yuan to keep Chinese exports price competitive and so in grand scheme of things it IMO might drive up gold price as well. Good luck
FX:XAUUSDLong
by Chuck-Norris
1
Will Putin's Intervention Rally Oil? Watch 46.00 For CluesAccording to a new Bloomberg interview Mr Putin is pushing for OPEC and Iran to halt oil supply in order to rally prices above $50 a barrel. The measure of success will be a close above $46.00 as it was breakout above this level that previously took oil above $50.00. Given the nature of oil any major exporter announcing they want to cut supply should provoke a short term rally and 46.00 is in view given Friday's close failed to break the 61.80% fib level. A sell trade is still on the cards with price failing to close above 44.64 where we have prior structure so now it's a matter of waiting for exhausted candles at this level or if we see a spike upwards from Mr Putin's words.
FX:USOIL
by Elliot_Myers
2