official Daily Analysis by AdamantFinance.com

[Adamant Finance]

Technical Outlook January 6, 2017

EUR/USD

 

The currency pair continued its aggressive growth yesterday and it is close to the upper side of the MA-channel. ADP Non Farm data was worse that expected and this event pushes USD downwards. Today we advise to pay attention to important US Labor Market data as it may result in further decline of USD or stop a downside tendency. Analysts forecast little decline in Non Farm Payrolls data as well as little growth in unemployment rate.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading with high volatility accompanied with low volumes last week. We think that it is going to continue its upside correction this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

 

GBP/USD

 

The currency pair went back to the MA55 balance line before the American session and offered an opportunity to open long trades according to our expectations. The price moved upwards for 1500 that was enough to protect trades and take a considerable profit. We give no recommendations today as there is an important release of the US Labor Market data during American session. It is hard to say whether this data is better or worse than expected and how the market participants are going to react to it.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. GBP/USD Slows down its decline and there is a probability that the currency pair is in correction at the moment. We think that the currency pair’s growth is going to continue this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. WE advise to avoid trading today as it is hard to predict market’s reaction to today’s US Labor Market data.     

AUD/USD

 

The currency pair moved downwards before the American session, but this local correction was not enough to open long trades.

However, after this correction AUD/USD had some growth as we had expected it previously. We give no recommendations today as there is a very important US data on the way. It is better to take any decisions after the release of the US Labor Market statistics.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair went on correction according to our expectations. We think that this week it is going to continue its growth.

The currency pair is in the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as it is hard to say what direction AUD/USD will choose after the release of the US Labor Market data today.   

USD/CHF

The currency pair went back to the MA55 balance line but it was not enough to open trades according to our recommendations. We advise to avoid trading today as well as there is an important US data on the way and it is hard to predict how market players will react on it. It is better to do some steps after the release.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There is a strong resistance at 1,03000 and we think that the currency pair is going to step back from this level.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to do nothing before the release of the US Labor Market data. 
   

Gold and Silver Technical Outlook January 6, 2017

GOLD (XAUUSD)

 

Gold continued its upside dynamics close to the upper side of the MA-channel but we think that the situation may change today after the release of the US Labor Market data. Market participants think that this data is going to be worse than forecasted as ADP Non Farms were weaker than expected. Anyway, today’s statistics is hard to be predicted.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Gold failed to reach 1100,00 and we think it is not going to do it in the nearest future. We expect XAU/USD to continue its correctional growth this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We give no recommendations today as it is an important US Labor Market data on the way.             

 

SILVER (XAGUSD)

 

Silver had some growth yesterday but it was limited and we gave no recommendations. Silver had a sharp downside momentum and reached 16,21 today in the morning. Here was a good opportunity to open long trades. However, we think that it is better to avoid trading before today’s US Labor Market data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAG/USD had some growth last week and we think that this correction is going to continue.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. It is better to avoid trading today as it is hard to say how market participants are going to react on the US Labor Market data. 
                 

[Adamant Finance]

Technical Outlook January 9, 2017

EUR/USD

 

The currency pair reversed after Friday’s US Labor Market data as it was mixed. US Non-Farm Payrolls were weaker than expected and declined to 156 000 new jobs created in December. Unemployment Rate rose to 4,7% that was also worse than expected. However, Average Hourly Earnings grew to 0,4%. This last data gave some support to USD as further wage growth may cause inflation rise and result in Interest Rates hike. The most important events and statistics are to be released on Thursday and Friday this week.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair started an upside correction last week and we think it is going to go upwards this week again.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is below the MA55 balance line. We advise to do nothing today as the situations is still unclear. Wait for further US statistics.     

 

GBP/USD

 

The currency pair declined on Friday after the US Labor Market and Wage data. Trend has changed and we think there are risks of further decline of GBP/USD. However, Friday’s US data is already included in price and we think that the price may go back towards previous levels. We advise to do nothing today as the price is still far from the balance line.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no tendency in fluctuations last week and we think this situation is likely to repeat this week.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading today as the situation is unclear.     

AUD/USD

 

The currency pair declined on Friday’s US Labor Market data as it was mixed. However, AUD/USD still looks upwards and we think this tendency is going to continue. The price is close to the MA55 balance line and there is an opportunity to open long trades.

However, it is not a good idea to enter the market at the moment as the trendline is broken through and there are risks that the currency pair is going to further decline.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week. We think that it is going to move further upwards in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.   

USD/CHF

The currency pair had some growth on Friday after the US Labor Market data. USD/CHF had broken through the trendline. We think that the currency pair is going to continue its growth this week. There is still the uptrend but we think USD/CHF is going to reverse in the nearest future. WE give no recommendations at the moment as there is a probability of a reverse. It is better to wait for a while until the situation becomes clear.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair left 1,03000 and moved downside. We think that USD/CHF is going to be trading below this level in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear. 
   

Gold and Silver Technical Outlook January 9, 2017

GOLD (XAUUSD)

 

Gold is in correction after Friday’s US Labor Market data which was mixed. US Non Farm data was weaker than expected as the number of new jobs created in December was 156 000 against 204 000 (revised from 178 000) in November. However, Average Hourly Earnings data was better than expected and gave some support to the US dollar. Wage growth may result in an inflation growth. Fed will have to increase Rates in this case. We think that XAU/USD is going to decline towards the trendline and then to go upwards.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The was some correctional growth last week and we think it is going to continue this week again.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading at the moment as the situations is unclear.             

 

SILVER (XAGUSD)

 

Silver was trading in a range on Friday. We think that XAG/USD is going to decline before further growth. You may try short trades from 16,50 with low volumes.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correctional growth last week and we think it is going to continue this week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to open short trades from 16,50. Place stop losses above 16,60 level. 
                 

[Adamant Finance]

Technical Outlook January 10, 2017

EUR/USD

 

The currency pair resumed its growth during the American session and continued to rise in price within the Asian one. It is good for EUR/USD but not so good for us as It is too risky to open trades after the currency pair’s growth during two sessions in a row. There is no important data from the United States as well as from the Eurozone today. We expect the currency pair to be trading in both directions after the Asian’s rally. EUR/USD is in the neutral trend. This is another sign for us to do nothing today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think that it is going to continue its upside fluctuations in the nearest future.

The currency pair is in the neutral trend as the MA-channel goes in no direction and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

 

GBP/USD

 

The currency pair is under the pressure as there are some factors (related to the Brexit) that push GBP/USD down. German Chancellor Angela Merkel threatened UK with sanctions. UK Prime Minister Theresa May assures that she is going to win some better conditions for the Great Britain during the negotiations with the European Union leaders. All those events have negative impact on British Pound. The currency pair is close to the lower side of the MA-channel and we advise to do nothing today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no clear direction in Pound’s fluctuations last week. We think that this “no trend” tendency is going to prevail in the next couple of days.

The currency pair is in the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

AUD/USD

 

The currency pair resumed its growth and continued its upside tendency. We thought that the correction is able to go on. However, AUD/USD still continues its uptrend. We think that it is a god idea to try long trades from the MA55 balance line today. There is no important statistics today and we think that the volatility will be weak today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think that this correction is going to prevail for the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA5 balance line or from the trendline. Place stops below those lines.   

USD/CHF

The currency pair is trading with a downside bias but there is no trend currently and we have no idea whether USD/CH is going to decline further or not. There is no clear tendency anyway and we give no recommendations today. We still expect the currency pair to continue its decline, but it is better to wait for clear signals.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair left 1,03000 level and we think that USD/CHF is going to be trading below this level in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear. It is better to wait for clear signals to open trades. 
   

Gold and Silver Technical Outlook January 10, 2017

GOLD (XAUUSD)

 

Gold resumed its growth in the beginning of this week. There is an opinion that XAU/USD’s growth is going to be limited as USD will grow in the nearest future due to the rise of Interest Rates hike odds. However, we think that the situation will be unclear until the inauguration of Donald Trump at least. Gold is going to improve its positions during this period.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen a correctional growth last week and we think that this tendency is going ot continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try long trades from the MA55 balance line. Place stop losses below the curve.             

 

SILVER (XAGUSD)

 

Silver failed to equal the hopes of Bears. Stop losses were tight and losses are small. There is still neutral trend and we advise to do nothing today as it is risky to trade in this situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen a correctional growth last week according to our expectations. We think that this tendency is going to continue in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 
                 

[Adamant Finance]

Technical Outlook January 11, 2017

EUR/USD

 

The currency pair is trading in both directions in a wide range. As we have mentioned previously it is too risky to open long trades as EUR/USD is growing for a long time. Current trend is neutral. It is better to do nothing at the moment. Wait for any tendency to start and then take steps according to a situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was in an upside correction last week. We think that the currency pair is going to continue its tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

 

GBP/USD

 

The currency pair is back to the balance line and we think it is a good idea to open short trades today. We have a rather strong downside tendency and even if ends in the nearest future, we do not expect a sharp reverse. Risks are low and you may try to find some good points to enter the market.

We have the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading without any clear tendency last week and we think that this neutral trend is going to dominate in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the MA55 or even a little bit higher above 1,22000.     

AUD/USD

 

The currency pair allowed opening long trades from the MA55 balance line or from the trendline according to our recommendations. The price moved higher for about 500 pips without any correction. It was enough to take profit or to protect your trades. We think that today the currency pair is going to grow moderately. In this case you may open long trades from the MA55 balance line or from the trendline.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think that it is going to continue this upside tendency this week.

The currency pair is in the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line or from the trendline. Place stop losses below those lines.   

USD/CHF

The currency pair is in the neutral trend and there was no further decline yesterday. We expected that USD/CHF would go downside but there was no clear tendency. We give no recommendations, as there is still flat. It is better to wait until the situation becomes clear.

There is the uptrend on the Weekly chart as the price is above the Ma55 balance line. The currency pair left 1,03000 level and we think it is going to be trading below this level in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situations is still unclear. 
   

Gold and Silver Technical Outlook January 11, 2017

GOLD (XAUUSD)

 

There was no opportunity to open long trades from the MA55 balance line according to our recommendations. The p[rice is still growing as we mentioned it before as the situation in the United States is still unclear. This fact gives some support to the US dollar. The US President Donald Trump is going to give his comments today and we think the situation may change. If you have any opened positions, we advise to protect them before US President’s speech.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was some correctional growth last week and we think it is going to continue in the next couple of days.

XAG/USD is in the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the Ma55 balance line. You may try long trades from the trendline or from the MA55 balance line. Place stop losses below those lines.             

 

SILVER (XAGUSD)

 

Silver did a good jump upwards but there was no trend and we gave no recommendations. We can se an upside tendency at the moment and you may try long trades from the trendline or from the MA55 balance line with close stop losses. However, we recommend to fix or to protect your positions before Trump’s speech.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We had some correctional growth last week and we think it is going to continue this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try long trades from the Ma55 balance line or from the trendline. Place stop losses below those lines. 
                 

[Adamant Finance]

Technical Outlook January 12, 2017




EUR/USD





The currency pair continues to be trading in both directions within a wide range. Today there is a chance that EUR/USD is going to move upwards after yesterday’s new US President Trump speech. However, his words did not meet expectations of market players.

USD was under pressure. Market participants expected Donald Trump to uncover some information about fiscal and budget stimulus.

Nevertheless Trump avoided to talk about those aspects. We think that the currency pair is going to continue its growth.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think it is going to move in the same direction in the next couple of days.

There is no trend on the Hourly chart as the Ma-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 



GBP/USD





The currency pair gave an opportunity to open short trades according to our recommendations. There was an opportunity to sell from 1,21650 and the price was in the profit area for about 1200 pips. You had a chance to take profit or to protect your trades.

New Us President’s speech did not meet the expectations of the market and USD was under the pressure. We think that today the currency pair is going to continue its growth as there was a change in a tendency yesterday.

There is the downtrend on the Weekly chart as the price is below the Ma55 balance line. There was no tendency last week and we think this neutral trend is going to dominate in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve. 



AUD/USD





The currency pair offered an opportunity to open long trades according to our recommendations from the MA55 balance line or from the trendline. The price went upwards for about 1000 pips without any correction and there was an opportunity to take profit or to protect your trades. We think that today AUD/USD is going to continue its growth but we give no recommendations as the price is close to the upper side of the MA-channel.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week. We expect that it is going to go in the upside direction in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. It is risky to buy close to the upper side of the MA-channel. 



USD/CHF





The currency pair has still no clear bias but we think it is going to move downside today. Yesterday US President’s speech exert pressure on USD and we think that the US dollar is going to lose positions today as well. We still give no recommendations as the situation is unclear.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair left 1,03000 area last week and we think it is going to be trading below this area in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading as the situation is still unclear. 







Gold and Silver Technical Outlook January 12, 2017




GOLD (XAUUSD)





There was no opportunity to open long trades from the MA55 balance line during European session yesterday and there was no sense to open trades right before Trump speech as you had no chance to protect those positions. Market participants are waiting for further news concerning the economic growth in the United States. However, US President avoided this subject in his comments. USD lost some positions yesterday. We think that this dynamics may continue today but we give no recommendations as the price is far from the MA55 balance line.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We had a correctional growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 



SILVER (XAGUSD)





There was no opportunity to open trades before the American session as well. You may try to open long trades from the trendline as the price is close to the MA55 balance line.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correctional growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try to open long trades from the trendline. Place stop losses below this line.

[Adamant Finance]

Technical Outlook January 13, 2017




EUR/USD





The currency pair moved upwards yesterday and we can see that there is an upside tendency at the moment. However, we have noticed that market participants are fixing their positions on the eve of the important US data (PPI and Retail Sales). Experts forecast significant growth of both macroeconomic indicators. This data is likely to support USD and we can see at the moment that US dollar is gaining strength. Prelim UoM Consumer sentiment, which is to be released today, is also worth attention.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think it is going to be trading with the upside bias in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. There are several important events today which may significantly influence fluctuations. 



GBP/USD





The currency pair offered no opportunity to open long trades from the MA55 balance line. The price went towards the Moving Average this morning only. There was a sharp decline of the currency pair yesterday during the American session and we think this tendency is going to continue. Upside trend is slowing down and becomes neutral. Wait for today’s US data before taking any further steps.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no tendency last week and we think that this neutral tendency is going to continue.

The currency pair is in the neutral position on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 



AUD/USD





The currency pair is in the strong uptrend and there are almost no corrections. It is hard to open trades in this situation.

Today’s US data (which is likely to be better according to forecasts) may support USD and provoke a huge US dollar upside tendency. In this case AUD/USD is likely to go on correction that may target the trendline on the Hourly chart.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think it is going to move upwards in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today especially on the eve of the important US data. 



USD/CHF





The currency pair was in a strong downside tendency yesterday and is able to continue this trend today. We advise to avoid trading EUR/USD but we think it is time to trade USD/CHF as the downside tendency may continue if the US data is going to be worse than expected.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair left 1,03000 level last week and we think it is going to be trading below this level in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise open short trades from the Ma55 balance line. Place stop losses above the Moving Average. However, be careful as there is important US data today which may significantly influence fluctuations. 






Gold and Silver Technical Outlook January 13, 2017




GOLD (XAUUSD)





Gold established new weekly highs but there was no opportunity to open trades. The price was far from the balance line. It is to mention that the price moved downwards sharply yesterday during the American session. Market participants were fixing their long positions. It is not suitable for further growth and today’s US Retail Sales and PPI data may completely change the situation.

Experts expect those figures to be better than previous ones and this may push USD higher. It is risky to open trades in this environment.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction last week and we think XAU/USD is going to grow in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 



SILVER (XAGUSD)





There was no opportunity to open trades from the tendline and the price approached to this line today in the morning. However, we see some signs of further reverse and the trendline may be broken through today. We advise to open trades if only the price breaks through the trendline with low volumes.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen some correctional growth last week and we think it is going to continue in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try short trades if the price breaks through the trendline. Place stop losses above the line.

 

[Adamant Finance]

Technical Outlook January 16, 2017

EUR/USD

 

The currency pair declined on Friday a little after the US data which did not meet the expectations but was not weak to push USD further downwards. We think that this week the price is going to stabilize close to the current levels. We think that EUR/USD is going to be trading within a range 1,0510-1,0650. There is a holiday in the United States today and we think that market activity is going to be lower.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week and we expect that it is going to slow down its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is below the Moving Average 55. We think that there is a probability of a reverse and the currency pair is going to be in a neutral position. We give no recommendations as the situation remains unclear.     

 

GBP/USD

 

The currency pair started this week with a small downside gap. Experts think that this price gap is due to the upcoming UK Prime minister Theresa May speech on Brexit. The price is out of the MA-channel and we give no recommendations in this situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no tendency last week and we think the currency pair is going to decline in the next couple of days due to the price gap.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the Ma55 balance line. We advise to avoid trading today as the situation is still unclear.     

AUD/USD

 

The currency pair was trading on Friday within a limited range and there was no impulse to decline as the US data was mixed. We do not expect any activity on today as there is a hoiday in the United States and the volumes will be lower than usual. We give no recommendations.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair continued its upside correction last week, but we expect AUD/USD to slow down its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the Moving Average 55. We advise to avoid trading today as the situation is still unclear.   

USD/CHF

The currency pair corrected towards the Moving Average 55 and allowed to open short trades. Those positions resulted in 400 pips profit. It was enough for Friday as it was the end of the week. We think that today fluctuations are going to be limited due to the United States holiday and low volumes.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined this week according to our expectations. We think that the currency pair is going to slow down its decline this week as it is close to a strong support level.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 
   

Gold and Silver Technical Outlook January 16, 2017

GOLD (XAUUSD)

 

Gold reacted on the US data with a slow decline but restored quickly. The US data was mixed and it was not as weak as it could be. It is to say that this statistics was neutral and gave some support to USD. Today’s dynamics is expected to be limited due to the holidays in the United States.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The was some correctional growth last week and we think XAU/USD is going to continue its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the Moving Average 55. We advise to open long trades from the trendline on the Hourly chart (if the price goes back there). Place stop losses below the line.             

 

SILVER (XAGUSD)

Silver was in a neutral trend on Friday without significant fluctuations. There was a fake breakthrough of the trendline and you had an opportunity to open short trades with close stop losses which triggered later. We think that today’s trading dynamics will be limited as there is a holiday in the United States and the volumes will be low.

There is no trend on the Weekly chart as the price is close to the Ma55 balance line. There was a correctional growth last week according to our expectations. We think that the upside tendency is going to continue in the next couple of days. However, it may be slower than previously.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the Ma55 balance line. We advise to open long trades from the trendline on the Hourly chart if the price goes back there. . Place stop losses below the line. 
                 

[Adamant Finance]

Technical Outlook January 17, 2017

EUR/USD

 

The currency pair reversed yesterday but today it is trading in a neutral position again. We advise to pay attention to today’s data from Europe as it may influence fluctuations. Market participants will pay attention to this data. On the other hand, we advise to pay attention to the US FOMC members’ comments during the American session. If they are going to be hawkish, they may provoke significant moves.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week and we expect EUR/USD to slow down its upside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the Moving Average 55. We think that the tendency is going to be neutral today and we advise to avoid trading as the situations is still unclear.     

 

GBP/USD

 

The currency pair was trading within a limited range due to the US holiday yesterday. We think that GBP/USD is going to grow today towards 1,21000 and then it is going to resume its decline with a high probability. We advise to pay attention to today’s UK Prime Minister Theresa May speech as the currency pair started this week with a gap.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no tendency last week. We think that the currency pair is going to decline in the next couple of days due to this downside gap.

The currency pair is in the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from 1,21000-1,21200.     

AUD/USD

 

The currency pair was in a flat yesterday due to the US holiday and low volumes during the American session. We think that today fluctuations are going to stabilize and there is a probability of some growth. The currency pair tried to grow during the Asian session and it is too late to open long trades at the moment. AUD/USD is in the neutral trend which is also a negative factor for trading.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair continued its upside correction last week but we think it is going to slow down its upside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.   

USD/CHF

The currency pair was trading within a range because of US holidays yesterday. However, USD/CHF is declining at the moment without any clear tendency. We think that the currency pair is going to establish a tendency today and there will be an opportunity to open trades tomorrow.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week according to our expectations. We think that USD/CHF is going to slow down its downside tendency in the next couple of days. The currency pair is close to a strong support level.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 
   

Gold and Silver Technical Outlook January 17, 2017

GOLD (XAUUSD)

 

Gold was trading within a limited range due to the US holidays yesterday. We think that dynamics is going to restore today. There was no opportunity to open long trades as the price was far from the trend line. There is still neutral trend and we expect XAU/USD to establish a tendency today. There are clear signs that Gold is going to continue its uptrend.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had a correctional growth last week and we think it is going to continue its growth in the next couple of days.

There is the downtrend on the Weekly chart as the price is below the Moving Average 55. We have seen a correctional growth last week and we expect XAU/USD to continue its upside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. WE advise to open long trades from the trendline on the Hourly chart if the price goes back there. Place stop losses below the line.             

 

SILVER (XAGUSD)

Silver was trading within a limited range yesterday due to the US holiday. There was no opportunity to open long trades as the price did not reach the trendline. There is no clear tendency and we think that XAG/USD is going to establish a trend today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD had a correctional growth according to our expectations. We think that this growth is going to continue.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to open long trades from the trendline on the Hourly chart is the price goes back there. Place stop losses below the line. 
                 

[Adamant Finance]

Technical Outlook January 18, 2017

EUR/USD

 

The currency pair had a growth yesterday in the first half of a day. ZEW Economic sentiment data was better than previous one. This data gave significant support to the currency pair during the Asian sessions. EUR/USD established an upside tendency. We advise to pay attention to today’s US and Eurozone CPI statistics which may influence fluctuations during the day.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week and we think it is going to slow down its growth on the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. The currency pair is close to the MA55 balance line and we give no recommendations. We advise to avoid trading today as the situation is still unclear.     

 

GBP/USD

 

The currency pair had a considerable growth yesterday after UK CPI data and Prime Minster Theresa May speech on Brexit.

UK CPI data was better than expected. Market participants think that this may be a reason why The Bank of England will have to limit its easing programme. Theresa May said that she is going to negotiate free trading area with European Union countries. However there are still risks that EU response will be negative. Short trades according to our recommendations failed to bring any profit.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no tendency last week and we think that the currency pair is going to decline because of the gap that we have seen in the first hours of this week’s session.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. The price is close to the upper side of the MA-channel and we give no recommendations. It is better to wait until the situation is clear.     

AUD/USD

 

The currency pair established an upside tendency yesterday and we think it is time to look for opportunities to buy AUD/USD. However, we advise to wait until the price goes back to the Moving Average 55 balance line. We also think that there are risks of a deeper correction after yesterday’s strong growth.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair continued its upside correction last week. We think it is going to slow down it is going to slow down the upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line.

We advise to open long trades from the Moving Average 55 balance line. Place stop losses below the curve.   

USD/CHF

The currency pair established a downside tendency and it is time to look for short trades. However, we see some risks for the price to jump upwards from the broken through trend line on the Weekly chart. More factors indicate on further decline and we advise to try short trades from the above mentioned area.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was declining last week according to our expectations. We think it is going to slow down its downside tendency in the next couple of days as the currency pair is close to a strong support level.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the Moving Average 55 balance line or from the trendline. Place stop losses above those indicators. 
   

Gold and Silver Technical Outlook January 18, 2017

GOLD (XAUUSD)

 

Gold gave no opportunities to buy according to our recommendations as it failed to reach the trendline. US President’s Trump comments on USD pushed American dollar lower allowing Gold to rise up. We advise to pay attention to today’s US important data which may have considerable impact on fluctuations.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We had some correctional growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve.             

 

SILVER (XAGUSD)

Silver was trading with an upside bias and failed to move back towards the trendline. There was no opportunity to open long trades according to our recommendations. Today’s US data may push Silver higher.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. We have seen a correctional growth last week according to our expectations. We think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve. 
                 

[Adamant Finance]

Technical Outlook January 19, 2017

EUR/USD

 

The currency pair was trading with a decline and accelerated its decline during the American session. US CPI data met the expectations and the Fed head Yellen persuaded market participants in a more aggressive Interest Rates hike during the next couple of years. Inflation overcame FOMC’s 2% target level which is a strong signal for Fed to hike Rates.

FOMC plans to increase Rates thrice this year. USD has got some additional support and we think it is going to grow in the nearest future.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week and we think it is going to slow down its growth in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is below the MA55 balance line.

Trendline was broken through as well as the MA55 balance line. This indicates on a probability of further decline. We advise to avoid trading at the moment and wait for the situations to become clear.     

 

GBP/USD

 

The currency pair went back to the MA5 balance line allowing to open long trades yesterday. However, all other currency pair have downside direction and we think it is not a good idea to open long trades at the moment. GBP/USD is able to continue its downside tendency and there will be some signals to sell. We have drawn a trendline, which is an indicator for further currency pair dynamics. If the currency pair breaks it through there will be an opportunity to open long trades. Otherwise GBP/USD is going to change its tendency.

There is the downtrend on the Weekly chart as the price is below the MA5 balance line. There was no direction last week and we think the currency pair is going to continue its decline because of a price gap.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading at the moment but to be prepared to buy or sell according to circumstances.     

AUD/USD

 

There was a correction towards the balance line by the end of the American session yesterday but it was too late to open trades. The currency pair is in a deep correction as we have previously expected. AUD/USD tries to hold its positions above the trendline but we think it is going to break through this line today. It is better to wait until the reverse before selling the currency pair.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair continued its upside correction last week and we think it is going to slow down its growth in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is below the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.   

USD/CHF

The currency pair is close to the MA55 balance line and the trendline but it was late to open trades yesterday. We think that USD/CHF is going to change its tendency and it is time to do nothing and to to wait until the situation becomes clear.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week according to our expectations. We think it is going to slow down its downside tendency in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. We advise to avoid trading as the situation is unclear. 
   

Gold and Silver Technical Outlook January 19, 2017

GOLD (XAUUSD)

 

Gold failed to continue its growth yesterday as US CPI data met the expectations. Janet Yellen underlined that inflation overcame 2% barrier and FOMC is going to rise Rates. FOMC plans to hike Interest Rates thrice this year. Fed holds its tendency that is good for USD. Rise of inflation is good for XAU/USD as investors are looking for shelter assets (like Gold). However, inflation is not too high for Gold to grow aggressively.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correctional growth last week and we think it is going to continue in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We think that market participants are going to break current tendency. You may open short trades from the trendline. Place stop losses above the line.             

 

SILVER (XAGUSD)

Silver declined to the MA55 balance line allowing long trades but it was too late for trading. US CPI data met the expectations and there was no significant growth after this release. Silver is going to follow Gold which is reversing its tendency at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correctional growth last week according to our expectations. We think that the upside tendency is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the Ma-channel goes upwards and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 
                 

[Adamant Finance]

Technical Outlook January 20, 2017

EUR/USD

 

The currency pair declined sharply right after the end of the European Central Bank Meeting as the Interest Rates remained unchanged and the policymakers decided to continue this easy monetary policy according to our expectations. However, Market participants expected the ECB members to give some hints on the probability of the monetary policy to be more hawkish in the nearest future due to inflation growth. The price almost touched the lower side of the MA-channel but the currency pair went upwards during the American session. The main event for today is Donald Trump inauguration and we think that current fluctuations are influenced by this fact.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week but we think it is going to slow down this tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear. Today’s US President inauguration may have a considerable impact on fluctuations depending on what Donald Trump is going to say.     

 

GBP/USD

 

The currency pair broke through the trendline and there was an opportunity to open short trades. This event resulted in 500 pips of eventual profit for those who risked to enter the market. There is no trend today and market participants are waiting for US President Donald Trump inauguration. It is better to avoid trading in this situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no direction of fluctuations last week but we think the currency pair is going to decline in the next couple of days due to a price gap that took place in the beginning of the week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

AUD/USD

 

There was no change in trend and the currency pair continued its moderate growth yesterday. USD dynamics is illogic due to US President Donald Trump inauguration. This was the main reason for a mistake in forecasts of further currency pair’s dynamics. We expect USD to grow anyway.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair continued its upside dynamics last week and we think it is going to slow down the local uptrend in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the Ma5 balance line. We advise to avoid trading today as the situation is still unclear.   

USD/CHF

The currency pair was trading with the same pattern as EUR/USD did but we think USD/CHF is going to decline this week. However, it is better to wait until the end of US President Donald Trump inauguration to do any further steps. We advise to do nothing today as there is no clear tendency.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week according to our expectations. We think that USD/CHF is going to slow down its decline in the next couple of days as the currency pair is close to a strong support line.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading as the situation is still unclear. 
   

Gold and Silver Technical Outlook January 20, 2017

GOLD (XAUUSD)

 

Gold offered an opportunity to open trades according to our recommendations from the broken through trendline with stop losses above the line. There was a possibility to take profit as XAU/USD declined for 9,5$. However, there was no further decline because of US President Donald Trump inauguration which is to take place today. It is better to do nothing today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we think it is going to continue in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.             

 

SILVER (XAGUSD)

Silver is following Gold but has not changed its tendency yet. We advise to do nothing today as the US President’s inauguration is to take place during the American Session.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth according to our expectations. We think it is going to continue in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the Ma55 balance line. We advise to avoid trading today as the situation is still unclear. 
                 

[Adamant Finance]

Technical Outlook January 23, 2017

EUR/USD

 

The currency pair was trading in both directions on Friday on the eve of the US President Donald Trump inauguration. There was no details on Trump’s plans to increase expenditures and to decrease taxes. US is still loosing positions after the inauguration speech. The currency pair is close to the upper side of the MA-channel and we give no recommendations at the moment.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week. We think it is going continue its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA5 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to take any decisions.     

 

GBP/USD

 

The currency pair was trading in both direction for the same reasons as EUR/USD did. In addition, UK Retail Sales data was disappointing. However, this data had limited impact on GBP/USD as market participants paid attention to Donald Trump’s inauguration. The price is close to the upper side of the MA-channel and we give no recommendations.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading mostly with positive bias and we think it is going to continue its upside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55. We advise to avoid trading as the situation is still unclear.     

AUD/USD

 

The currency pair is trading within a tight range and we think there is a probability of another upside momentum. AUD/USD was trying to grow but it still in the same range despite the decline of USD. You may try to open long trades from the MA55 balance line or from the trend line in order to catch eventual upside price momentum.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair slows down its upside tendency but we think it is going to resume its upside correction in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line or from the trendline. Place stop losses below those indicators.   

USD/CHF

The currency pair started to decline after the US President Donald Trump’s inauguration and it continues its decline today. We advise to do nothing at the moment as the price is far from the balance line. There is no clear tendency.

There is the uptrend on the Weekly chart as the price is above the Moving Average 55 balance line. The currency pair declined last week and crossed its strong support line. We think that it is going to continue its downside tendency in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to open trades at the moment. 
   

Gold and Silver Technical Outlook January 23, 2017

GOLD (XAUUSD)

 

Gold was trading in both directions on Friday because of the US President’s inauguration speech. There is some uncertainty as there was not a single word on Trump’s programme details. There are some risks that Gold is going to grow. However, Trump’s plans will be a strong obstacle for XAU/USD uptrend. The price is close to the upper side of the MA-channel and we give no recommendations. There is no clear trend and it is risky to take any actions in this situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAU/USD’s correction growth continued last week and we think Gold is going to move further upside in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.             

 

SILVER (XAGUSD)

Silver is trading within a limited range but there is a probability of an upside momentum in the nearest future. XAG/USD’s growth was not as strong as Gold’s one and you could try to open long trades. However, there is no clear trend and it is risky to take any trading decisions at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was some correction growth last week and we think it is going to continue in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear. There is no clear tendency. 
                 

[Adamant Finance]

Technical Outlook January 24, 2017

EUR/USD

 

The currency pair continued its morning growth and almost reached its 2 month’s highs. EUR/USD established the uptrend and it is time to look for long trades. However, the price is close to the upper side of the MA-channel and the tendency is too strong that it is risky to open trades at the moment. There is an important Eurozone Manufacturing and Services PMI data today and this statistics is able to influence fluctuations. We think that those releases may result in some correction and there will be an opportunity to open long trades tomorrow.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside dynamics but it was in a very wide range last week. We think that EUR/USD is going to continue its upside correction in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

 

GBP/USD

 

The currency pair had a considerable growth yesterday as the Court of London announced that the British government is unable to bypass parliament and initiate Brexit without parliament’s approval. It means that the Brexit procedure may be postponed. It was too hard to open trades as the trend was too strong and we advise to take a pause and wait for better price position.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a strong upside tendency last week and we think that the currency pair is going to continue its growth in the next couple of days.

The currency pair is in the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to open trades, as the current tendency is too strong.     

AUD/USD

 

The currency pair offered some opportunities to open trades from the MA55 balance line yesterday according to our recommendations. You had a chance to take some profit (about 400 pips) despite the fact that fluctuations were weak. There is a strong resistance on the way (Weekly chart) and we think that the currency pair is able to bounce off it if the price is unable to break it through in the nearest future.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair paused its upside correction last week but we think it is going to resume its upside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.   

USD/CHF

The currency pair established a downside tendency and we think it is time to look for short trades. However, it is better to wait until the price goes back to the MA55 balance line as it is still far from this curve.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined slower last week as we had expected and found a strong support level. We think that it is going to continue its decline in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the curve. 
   

Gold and Silver Technical Outlook January 24, 2017

GOLD (XAUUSD)

 

Gold established an upside tendency and it is time to look for long trades. We think that XAU/USD is going to continue its growth but the situation is still unstable. We advise to wait until the price goes back towards the MA55 balance line and to look for long trades there.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we think it is going to develop in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve.            

 

SILVER (XAGUSD)

Silver goes the same way that Gold does. There is the uptrend and we can see an upside pattern. We advise to wait until an upside momentum and take decisions if it happens.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve. 
                 

[Adamant Finance]

Technical Outlook January 25, 2017

EUR/USD

 

The currency pair moved to the balance line during a correction as we had expected it previously. Today it is time to look for long trades. Yesterday’s German and France PMI Manufacturing and Service data was disappointing. We advise to pay attention to German Business Climate IFO data today. There is no important statistics from the United States and we think that this Eurozone data will be the main driver. IFO Business Climate data may result in further upside tendency if it is better than expected.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week in a very large range. We think that it is going to continue its upside tendency in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to open long trades from the trendline or from the MA55 balance line. Place stop losses below those indicators.     

 

GBP/USD

 

The currency pair was trading with a high volatility due to the event that was very important. British Court decided that the UK Government is unable to take any further Brexit steps without Parliament confirmation. It does not mean that Brexit is stopped or even cancelled. It means that the procedure is postponed. We gave no recommendations yesterday. However, the currency pair jumped off the MA55 balance line and moved higher for 1000 pips. You may try to open long trades today as GBP/USD is likely to continue its upside tendency. 

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside tendency last week and we think that GBP/USD is going to continue its growth in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the trendline or from the MA55 balance line. Place stop losses below those indicators.     

AUD/USD

 

The currency pair had a sharp decline yesterday as it was unable to grow. AUD/USD tried to break through a strong resistance level but failed and moved lower. We think that the currency pair has two ways at the moment – to decline further or to continue its upside correction from the broken through trendline. We give no recommendations, as there is still no clear change in a trend.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair made a pause in its upside correction last week. We think it is going to grow again in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today, as the situation is still unclear.   

USD/CHF

The currency pair went back towards the balance line offering the opportunity to open short trade from the MA55 balance line according to our recommendations. This downside move resulted in 300 pips allowing to take profit or to protect trades. We advise to open short trades from the trendline.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair crossed a strong support level last week. We think that USD/CHF is going to continue its decline in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. We advise to sell from the trendline. Place stop losses above this line. 
   

Gold and Silver Technical Outlook January 25, 2017

GOLD (XAUUSD)

 

Gold declined to the balance line according to our expectations. There was an opportunity to open long trades from the MA55 during the European session. XAU/USD’s price had a 5 USD’s growth and it was enough to take some profit or to protect trades. Gold broke through the trendline and stopped its upside tendency today in the morning. We think that XAU/USD is going to decline towards the next support line on the Hourly chart and then it is going to grow again. 

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and it is likely to continue in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today, as the situation is still unclear.            

 

SILVER (XAGUSD)

Silver was close to the balance line offering an opportunity to buy and the price was in the profit area for 17 pips. It was enough to take profit or to protect your trades. We think that XAG/USD is going to correct towards the trendline and it is better to do nothing.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD continued its correction last week and we think it is going to grow in the nearest future. 

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear. 
                 

[Adamant Finance]

Technical Outlook January 26, 2017

EUR/USD

 

The currency pair has got no support for further growth as German IFO Business Climate data was worse than expected. There was an opportunity to open long trades from the trend line but those positions closed with short stop loss. There is an important data today, that may influence fluctuations. However, we have no clear trend at the moment and it is better to wait until the currency pair resumes its upside tendency.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction last week in a very wide range. We think it is going to continue its upside tendency in the nearest future.

There is no trend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.     

 

GBP/USD

 

The currency pair offered an opportunity to open long trades according to our recommendations from the MA55 balance line. GBP/USD still goes upwards and the profit is about 1600 pips. There was a possibility to take profit or to protect your trades. We think that the currency pair is going to grow until the European session when preliminary UK GDP data is going to be released. This statistics is able to provoke a correction.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had an upside correction last week and we think it is going to continue its growth in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.     

AUD/USD

 

The currency pair is still in a neutral position and it is better to do nothing at the moment. There is a holiday in Australia today and the currency pair dynamics is very weak. AUD/USD is trading below the broken through trendline and we think it is going to continue its decline in the nearest future. Anyway it is better to wait until the volumes are back.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair paused its upside correction last week and we think it is going to resume its upside tendency in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.   

USD/CHF

The currency pair is in a neutral position at the moment and the market situation is unstable. There was no opportunity to open short trades from the trend line as the price was far from this indicator. WE advise to avoid trading today as the currency pair is trading without any clear bias.

There is the uptrend on the Weekly chart as the price is above the Ma55 balance line. The currency pair declined last week and we think it is going to continue its downside tendency in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear and it is risky to open positions at the moment. 
   

Gold and Silver Technical Outlook January 26, 2017

GOLD (XAUUSD)

 

Gold had changed it tendency and broke through the trend line indicating the probability of further decline. You may try to open short trades today from the Ma55 balance line. However, the chances are few that the price is going back to the balance line. We think that there is a high probability that Gold is going to continue its decline from the current level.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we thin XAU/USD is going to continue its upside tendency in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the Ma55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the curve.            

 
SILVER (XAGUSD)

Silver crossed the ascending trend line on the Hourly chart and it is likely to decline. We think that the current tendency looks downwards and it is time to look for short trades.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. We had a correction growth last week and we think it is going to continue in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line today. Place stop losses above the indicator. 
                 

[Adamant Finance]

Technical Outlook January 27, 2017




EUR/USD





The currency pair established a new downtrend and we think it is time to look for short trades today. There was a good opportunity from the broken through trendline but there was almost no chance to open trades at that moment. We expect the currency pair to go upwards again and if it reaches the trendline, there will be another opportunity to open short trades. USD had an upside bias despite the fact that US data was worse than expected. Today’s US data is also important and may have a significant impact on the currency pair.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its upside correction in a wide range last week and we think it is going to grow in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear. 



GBP/USD





The currency pair moved downwards yesterday despite the better than expected UK data. GBP/USD “is trying” to break through the trend line today in the morning and we think that it is going to continue its decline. However, the upside tendency is strong and Bears are going to have troubles in their attempts to reverse the market. We think that the price is going to reach 1,26000 area after the breakthrough. We still have the upside tendency but you can try to open short trades already.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was in a strong upside tendency last week and we think that it is going to continue its growth in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open short trades from the broken through trendline. Place stop losses above this indicator. 



AUD/USD





The currency pair declined yesterday according to our expectations. This downside tendency is weak. Today’s Australia data had almost no impact on fluctuations and we think that the currency pair is going to increase the speed of decline today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair paused its upside correction last week but we think it is going to grow again in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from 0,7530\40. Place stop losses above the MA55 balance line. 



USD/CHF





The currency pair continues to be trading in a neutral position as the situation is still unclear. We think that market participants are going to try to break through the trendline and to develop an upside tendency. You may try to buy with low volumes from the broken through trendline (if it happens).

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined last week and crossed the support level. We think it is going to continue its decline in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to open long trades from the broken through trend line. Place stop losses below the MA55 balance line. 






Gold and Silver Technical Outlook January 27, 2017




GOLD (XAUUSD)





Gold reversed downwards and crossed the trendline indicating the future bias of fluctuations. There is a possibility to open short trades from the MA55 balance line area today but risks are still too high. We think that Gold is going to continue its decline from the current level.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we think it is going to continue in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel looks downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above this curve. 


SILVER (XAGUSD)





Silver crossed the ascending trendline on the Hourly chart and has the intention to continue its decline. We can see the downtrend and we think it is a good idea to look for short trades at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth last week and w think it is going to continue in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the Ma55 balance line. Place stop losses above the curve.

[Adamant Finance]

Technical Outlook January 30, 2017

EUR/USD

 

The currency pair slowed down its decline after worse than expected US Prelim GDP data. This data was disappointing as it was weaker than forecasts. We think that this statistics is able to stop USD growth until there will be other drivers to push US dollar higher. We advise to pay attention today to Personal spending data which is also may be worse than expected and push USD even lower.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair slowed down its upside correction last week. We think it is going to be trading without any clear direction in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. You may try short trades from the upper trendline on the Hourly chart. Place stop losses above this line.     

 

GBP/USD

 

The currency pair failed to get back towards 1,26000 and there was no opportunity to open short trades according to our recommendations. We think that the upside tendency is going to proceed after Friday’s weaker than expected Us prelim GDP data. We also think that the currency pair is able to slow down its decline in the beginning of the weak as an option. However, pay attention to 1,26000-1,26100 are as here is a very important “check point” for the further currency pair growth.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen the currency pair to continue its upside tendency last week, but we think it is going to stop its growth in the nearest future.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading at the moment as the situation is unclear.     

AUD/USD

 

The currency pair failed to accelerate its decline as we had previously expected but is trading within a range. There was an opportunity to open trades according to our recommendations but it resulted in a short stop loss.

The currency pair was in a range for the whole last week and we think it is going to run any direction in the next couple of days. We expect it to go downwards at the moment. However, everything may happen and we advise to hold the trigger.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair did an upside momentum last week. We think it is going to decline from the trend line in the nearest future.

There is no trend on the Hourly chart as the Ma-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.   

USD/CHF

The currency pair continued to be trading with no clear direction on Friday. However, we think that the weaker than expected US Prelim GDP data is able to push the currency pair downwards in the next couple of days. Long trades failed to bring profit as there was fake break through and the price went back to this line without any further upside momentum. Those long trades resulted in a short stop loss, which was close to the strike price as we had recommended.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair ended the last week in a range but we thin it is going to resume its downside tendency due to the weaker than expected US Prelim GDP data.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

Gold and Silver Technical Outlook January 30, 2017

GOLD (XAUUSD)

 

Gold offered an opportunity top sell on Friday from the MA13 and the price was in the profit area allowing to take 3-4USD. However, weaker than expected US Prelim GDP data reversed the price upwards. There was an opportunity to protect your trades by placing stop losses at breakeven level. We think that XAU/USD is able to resume its upside tendency in the next couple of days.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The upside correction failed to proceed however, we expect XAU/USD to go upwards after a strong decline last week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.            

SILVER (XAGUSD)

Silver offered an opportunity to sell from the MA13 and there was a chance to take about 10 pips of profit. it was enough to protect your trades by placing stop loss at breakeven level. We can see a sharp reverse at the moment and the price is far from the balance line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The correction growth stopped last week but we think XAG/USD still has an opportunity to resume its upside tendency after a significant decline in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.
                 

   

 

[Adamant Finance]

Technical Outlook January 31, 2017

EURUSD

EUR/USD currency pair was trading with a high volatility after sharp declarations of a new US White House administration. Another reason why EUR/USD has those sharp fluctuations is the upcoming Central Bank meetings.

There are three of them this week – in Japan, United States and Great Britain. It was hard to open short trades according to our recommendations as the price did not reach the trendline. We advise to do nothing today as there is currently no tendency on the chart.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair slowed down its decline last week. We think it is going to develop a correction in the nearest future. However, there are still doubts on the direction of this correction.

There in no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

GBPUSD

The currency pair established a downtrend but it is likely to be short as nothing is indicating on a long-term downside tendency. 1,26000-1,26100 area remains untouched and this is another sign of weakness of a downside tendency. However, we think that today there are opportunities to open short trades if price allows to do it. It is better to trade before the American session.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Upside tendency continued last week but we think the currency pair is going to pause its ascending rush.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line area or from the trendline. Place stop losses above those indicators.

AUDUSD

The currency pair continues to be trading within a flat range. It seems like AUD/USD is ready to go upwards from this range. However, there is also a probability that the currency pair is going to stay within this flat range for a couple of days.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair did an upside momentum last week and we think it is going to move back from the trendline.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

USDCHF

The currency pair tries to establish a downside tendency after sharp fluctuations that we have seen yesterday. However, the price is still too far from the MA55 balance line in order to open short trade at the moment. We advise to sell the currency pair in case if the price is back to the MA55 balance line.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a range trading last wee but we think the currency pair is going to decline after Friday’s US Prelim GDP data which was worse than expected.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above this curve.

Gold and Silver Technical Outlook January 31, 2017

GOLD (XAUUSD)

Gold started to grow yesterday. This growth seems to be very aggressive and we think it is still not the right time to open long trades as the price is far from the balance line. However, you may try to buy from the MA13. Remember that risks are higher in this case. It is also to mention that thee are several important events this week and they may start influence Gold today in the afternoon. BOJ, FOM and the Bank of England Meeting may have a significant impact on XAU/USD.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no correction growth last week. We think that XAU/USD is going to move upside this week after a deep decline.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA13. Place stop losses below the curve.

SILVER (XAGUSD)

Silver is in a strong uptrend after Friday’s upside momentum. However, it was trading with no clear direction yesterday. The price approached the MA55 balance line. You may try to open long trades from the balance line today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was no correction growth last week. However, We expect XAG/USD to go upwards after a decline.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below the curve.

 

[Adamant Finance]

Technical Outlook February 1, 2017

EURUSD

The currency pair did a sharp upside momentum and established the uptrend. The Eurozone data was better than expected. There is a growth of inflation and the reduce of unemployment level. A for the GDP, this macroeconomic indicator continues to grow for the fourth quarter in a row. The biggest economies manufacturing activity data is to be released today. We also advise to pay attention to the FOMC meeting which is to take place during the American session.

There is still the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair slowed down its upside correction last week. We think that it is going to develop its correction in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. The price is close to the upper side of the MA-channel and we give no recommendations in this situation as it is risky to take any steps.

GBPUSD

The currency pair offered no opportunities to sell before the American session from the MA55 balance line. GBP/USD reversed its tendency and moved upwards finally according to our expectations. We advise to pay attention to Manufacturing activity data (PMI’s) from United Kingdom and United States today as this statistics is very important for fluctuations. We think that the currency pair is going to continue its upside tendency.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen an upside tendency to develop last week. We think that the currency pair is going to slow down its upside correction.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line area. Place stop losses below the indicator.

AUDUSD

The currency pair continues its fluctuations within a previously established range. AUD/USD is trying to break through upwards today and we think there is a high probability of this event. However, the price may continue its current dynamics. We advise also to pay attention to FOMC meeting as it may change the situation during the American session.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair moved sharply upwards last week and we think it is going to decline in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

USDCHF

The currency pair approached to the balance line yesterday but offered no opportunity to open trades as it was not close to the indicator. If you opened a position, you could take about 1000 pips as profit. We think that the price is able to move back towards the MA55 balance line and then to continue its decline. If this happens, we give recommendations to trade. However, you should remember that there is an important event (FOMC meeting) today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was no clear tendency last week and the price was in a range. We think that the currency pair is going to resume its decline after Friday’s US GDP data.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line area. Place stop losses above the indicator.

Gold and Silver Technical Outlook February 1, 2017

GOLD (XAUUSD)

Gold offered an opportunity yesterday to open risky trades from the MA13 and to take some profit (as the price moved for 16USD). The risk/profit ration was rather good (2/16). We think that XAU/USD is going to decline towards the MA55 balance line area, as this tendency is weak and unstable.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was no correction growth last week. We think that there is a probability of an upside correction in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA5 balance line area. Place stop loss below the indicator.

SILVER (XAGUSD)

Silver failed to go closer to the MA55 balance line and offered no opportunities to buy from this indicator. The price moved upwards from the MA13. We expected that a downside correction was going to be deeper but XAG/USD ruined our expectations. We think that this correction is going to happen today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was no correction growth last week. We think that the currency pair is going to grow in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.
 

[Adamant Finance]

Technical Outlook February 2, 2017

EURUSD

The currency pair declined sharply during the American session as the ADP non-farm employment data was significantly stronger than expected. Final result was higher than forecasts and this fact provoked USD growth as the currency has got a strong support from market participants. However, later the FOMC meeting results were released and USD was under pressure again as there was nothing new in FOMC members’ comments. Fed decided to leave rates unchanged and did no forecasts on its future activities on Interest Rates hike in 2017. The currency pair is able to continue its growth.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair stopped its upside tendency last week, but we think it is going to develop its upside correction (or even consolidation with no clear direction) in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line area. Place stop loss below the indicator.

GBPUSD

The currency pair was prone to further growth as the manufacturing activity data in UK met the expectations. GBP/USD continued its upside tendency after the UK data release. The currency pair was close to the MA55 balance line during the Asia session offering an opportunity to open long trades. If you followed the recommendations to open positions from the MA55 balance line, you could earn about 1300 pips as there was no correction. We advise to pay attention to the Bank of England’s MPC meeting, which is to take place during the European session.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen the currency pair to continue its growth last week. We think it is going to slow down its upside tendency in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We give no recommendations as the price is close to the upper side of the MA-channel at the moment. It is risky to open trades as there is a probability of correction.

AUDUSD

The currency pair has finally left its two weeks’ range during the Asian session. It is looking upwards as we had previously expected. However, we think that there is a probability of reverse and it is better to avoid trading at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair moved upwards last week and we think it is going to decline from the trendline in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading at the moment as the situation is still unclear.

USDCHF

The currency pair approached the balance line and offered an opportunity to sell according to our recommendations. However, an upside correction was deeper than we thought and stop loss triggered. The currency pair’s fluctuations seem to be strange as compared to EUR/USD. Anyway, we have a stable downtrend and we advise to retry short trades.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was trading in a range last week. We think that USD/CHF is able to continue its decline after the weaker than expected US Advance GDP data, released on Friday.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator.

Gold and Silver Technical Outlook February 2, 2017

GOLD (XAUUSD)

Gold declined towards the MA5 balance line according to our expectations and then resumed its growth as FOMC members have said nothing new on further monetary policy decisions and the dates of Interest Rates hikes in 2017. Previous decline was provoked by a stronger than expected ADP non-farm employment change data. There was an opportunity to buy according to our recommendations but this trade failed to bring positive results as the correction was deeper than expected. However, the tendency was predicted correctly.

There is the downtrend on the Weekly chart as the price is below the Ma55 balance line. There was no correction growth last week. We think Gold is going to grow in the nearest future after its decline last week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We give no recommendations as the price is far from the MA55 balance line.

SILVER (XAGUSD)

Silver is able to continue its growth today. We advise to open trades from the MA 13 (with high risks). Yesterday’s volatility was weak but we think it is going to grow today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was no correction growth last week. We think XAG/USD is going to grow in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA13. Place stop loss below the trendline.