official Daily Analysis by AdamantFinance.com

[Adamant Finance]

Technical Outlook May 1, 2017

EURUSD

The currency pair was growing on Friday during the European session after the Eurozone inflation data, which was better than expected. However, after the US Advance GDP data, the currency pair declined. This statistics was worse than expected, but it components showed interest results. Market reaction was moderate. There are many important events this week and we think the volatility is going to be high.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range last week. We think it is going to decline moderately 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 unclear.

GBPUSD

The currency pair was under pressure after the UK Prelim GDP data, which was worse than forecasted. However, later this pressure was cancelled as the US Advance GDP data was worse than forecasted as well. The currency pair is likely to decline in the nearest future. There is an opportunity to open long trades today, but it is risky to do anything as GBP/USD was growing for several days.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think the currency pair is likely to decline moderately 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 unclear.

AUDUSD

The currency pair offered opportunities to open long trades before the American session on Friday according to our recommendations. The price was in the profit area for 300pips and there was a chance to take some profit. Another way was to protect existing trades, placing stop loss at breakeven level. It is better to do nothing today as there is no clear tendency at the moment.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that AUD/USD is going to develop this dynamics 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 as the situation is unclear.

USDCHF

The currency pair’s fluctuations were modest last week. However, we think that the volatility is going to rise in the nearest future. There are many events that may lead to significant fluctuations. There is no tendency currently and we think it is better to do nothing at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had an upside correction last week according to our expectations. We think it is going to develop 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 close to the MA55 balance line. WE advise to avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 1, 2017

GOLD (XAUUSD)

Gold reacted modestly to the US Advance GDP data, which was worse than expected. XAU/USD was trading in a tight range on Friday preparing for the next week. We recommend paying attention to the Federal Open Market Committee meeting, which is to take place on Wednesday and the US Labor Market data, which is to be released on Friday.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/US was developing its downside tendency last week as the geopolitical situation around North Korea was relatively calm. We think Gold is likely 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 close to the MA55 balance line. WE advise to avoid trading today as the situation is unclear.

SILVER (XAGUSD)

Silver returned to the MA55 balance line for the first time and resumed its decline. The price reached new lows and it is far from the MA55 balance line. We think there will be some opportunities to open trades this week.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD continued its decline last week according to our expectations. We think that Silver is likely to stop 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 below the MA55 balance line. We advise to avoid trading today as the situation is unclear.

[Adamant Finance]

Technical Outlook May 2, 2017

EURUSD

The currency pair was trading moderately as the market participants are waiting for the Federal Open Market Committee meeting, which takes place on Wednesday. USD is trading in a range as well regardless the weaker than expected US ISM Non-Manufacturing PMI which fell from 57,2 to 54,8 points. US citizens’ spendings show no growth and PMI indicates on the growth slow down. All those factors indicate on the probability that the Federal Open Market Committee will be more cautious in further monetary policy tightening. Today market participants are going to pay attention to Final German and French PMI data as we as the Eurozone Labor Market data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range last week. We think it is going to decline moderately 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 unclear.

GBPUSD

The currency pair started its downside correction yesterday according to our expectations. There is no tendency currently and as we have previously mentioned, GBP/USD needs some time to breathe after a strong growth. Market participants are going to pay attention to today’s Manufacturing PMI data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think that GBP/USD is likely to decline moderately 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 unclear.

AUDUSD

The currency pair developed its upside tendency yesterday but met a resistance on the trend line. We think that the growth is likely to come to an end there. Market participants are likely to pay attention to the results of the Reserve Bank of Australia meeting. This event can probably influence fluctuations.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that this dynamics is likely 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 if the price breaks through the trend line on the Hourly chart. We also advise to sell from the trend line is the price is unable to break it through.

USDCHF

The currency pair is still trading within a limited range as the weaker than expected US ISM Manufacturing PMI was unable to give some momentum to USD/CHF. We think that market participants are looking forward to see the results of the Federal Open Market Committee meeting, which takes place on Wednesday.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair met our expectations last week as USD/CHF was in the upside correction. We think this correction 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 unclear.

Gold and Silver Technical Outlook May 2, 2017

GOLD (XAUUSD)

Gold broke through the big triangle downwards finally. We gave no recommendations on Monday as there was no tendency. There is the downtrend today and we think it is time to look for short trades. It is better to sell from the broken through trend line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD continued its moderate decline last week according to our expectations as there was no changes in geopolitical situation. WE think Gold is going to develop 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 below the MA55 balance line. We advise to open short trades from 1262/1263,000 levels.

SILVER (XAGUSD)

Silver declined again yesterday during the American session, after an upside correction. The price is far from the MA55 balance line and we think it is better to do nothing today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver declined last week according to our expectations. We think that a downside tendency is likely to stop 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 avoid trading today as the situation is unclear.

[Adamant Finance]

Technical Outlook May 3, 2017

EURUSD

The currency pair was trading in a tight range yesterday as market participants are waiting for the Federal Open Market Committee Meeting, which is to take place today during the American Session. Investors seem to look for some hints on the further monetary policy tightening. Besides US Federal Open Market Committee meeting, we advise to pay attention to the Eurozone Advance GDP Data q/q. There is another event to pay attention to – ADP Non-Farm Employment Change. ISM Services PMI is also able to change the market situation.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a limited range last week. We think it is going to develop 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

GBPUSD

The currency pair has got some support from the better than expected UK Manufacturing PMI data. However, GBP/USD stays within Thursday’s and Friday’s range on the eve of the Federal Open Market Committee meeting. This event is the main for the currency pair today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think that GBP/USD is likely to develop 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

AUDUSD

The currency pair bounced off the trend line and there was an opportunity to open short trades according to our recommendations. The price was in the profit area for 300 pips. It was enough to fix profit as the volatility was low. The currency pair bounced off again the trend line and we give no recommendations at the moment.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our recommendations. We think that AUD/USD is likely to develop its decline 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 unclear.

USDCHF

The currency pair continues to be trading within a limited range on the eve of the Federal Open Market Committee meeting. We think that this event is going to have a serious impact on USD/CHF. The data, which is to be released before the meeting may have limited impact on the currency pair. It is better to do nothing.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair started its upside correction last week according to our expectations. We think USD/CHF is likely to develop 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 below the MA55 balance line. We advise to avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 3, 2017

GOLD (XAUUSD)

Gold failed to reach 1262/1263,000 level and offered no opportunities to open short trades. The price was in a tight range on the eve of today’s Federal Open Market Committee meeting. If there are no surprises, XAU/USD is likely to develop its decline. Investors expect no changes in the US monetary policy today. We think there is an opportunity to open short trades from the closest trend line on the Hourly chart.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold was declining last week as the geopolitical situation was calm. We think Gold is likely to develop 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 closest trend line. Place stop losses above this line.

SILVER (XAGUSD)

Silver was trading in a range closer to the lower side of the Monday’s range. This fact indicates on the probability of further decline. The price is able to continue its decline after the Federal Open Market Meeting results release.

There is no trend on the Weekly chart as the price is close to the Ma55 balance line. The currency pair continued its decline last week according to our expectations. We think that XAG/USD is likely to stop 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 below the MA55 balance line. We advise to avoid trading today as the situation is unclear.

[Adamant Finance]

Technical Outlook May 4, 2017

EURUSD

The currency pair was trading in a tight range on the eve of the Federal Open Market Committee meeting, which took place during the American session. EUR/USD later declined, when the results of the meeting were released. Market participants pay more attention to the French Presidential elections and they reacted modestly to the FOMC meeting results. The Federal Open Market Committee admits that economic indicators declined, but Fed thinks that this is a temporary decrease. There are many important events today and we think that EUR/USD is going to increase its volatility.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a tight range last week. We think that EUR/USD is likely to decline moderately 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 unclear.

GBPUSD

The currency pair is under pressure at the moment as US Interest Rates hike expectations has grown again. Interest Rates futures indicates on 70% probability that the Federal Open Market Committee is going to rise Rates on June. This probability was 60% before the latest to date meeting, which took place on Wednesday. This expectations growth allows USD to develop its upside tendency in the nearest future. We think that the currency pair is going to decline towards the trend line on the Hourly chart.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its growth last week frustrating our expectations. We think it is going to 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 1,2880-1,2900. Place stop losses above the MA55 balance line.

AUDUSD

The currency pair declined considerably yesterday and we think AUD/USD is likely to develop its downside tendency in the next couple of hours. There is strong downtrend here and it is time to look for short trades from the MA13.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think it is going to support this dynamics 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 MA13. Place stop losses above the indicator.

USDCHF

The currency pair is still trading within a limited range despite the results of the Federal Open Market Committee meeting, which took place yesterday. The FOMC members proved that they are going to follow their previously taken plan. However, the market participants are waiting for the results of the French Presidential campaign.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair established an upside correction last week according to our expectations. We think that this correction is likely 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 unclear.

Gold and Silver Technical Outlook May 4, 2017

GOLD (XAUUSD)

Gold failed to rise towards the trend line on the Hourly chart and started to decline. The interest Rates hike expectations grew after the latest to date Federal Open Market Committee meting as the Fed admits the decline of economic indicators but consider it temporary and expect two more Interest Rates hike this year. XAU/USD continued to go towards its new lows. We think Gold is likely to develop its downside tendency today, but the price is close to the lower side of the MA-channel.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold continued its moderate decline last week as there was no changes in geopolitical situation around North Korea. We think that Gold is likely to develop 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 below the MA55 balance line. We advise to open short trades from MA13. Place stop losses above this indicator.

SILVER (XAGUSD)

Silver declined even before the results of the Federal Open Market Committee meeting and develop its downside dynamics after the event. The price reached the support level trend line on the Weekly chart) and we think it is unlikely to develop its downside tendency.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver declined last week according to our expectations. We think that it is going to slow down its downside tendency in the next couple of days.

There is no trend 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.

[Adamant Finance]

Technical Outlook May 5, 2017

EURUSD

The currency pair was trading with some growth yesterday and finally left its range. This sharp upside momentum was provoked by the better than expected Eurozone PMI data. This statistics reached its 6 years highs. There are talks that the European Central Bank is going to change its rhetoric during the next ECB meeting. However, today market participants are likely to pay attention to the US Labor Market data, which is to be released right before the American session. It is better to do nothing at the moment as this US data may have significant impact on fluctuations. We recommend trading right after the release.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in a small range last week We think it is going to decline moderately 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 important US data is expected.

GBPUSD

The currency pair had some growth after the release of the UK PMI data, which was better that expected. There was an opportunity to open trades from 1,2880 and the currency pair did a fake breakthrough of the lower level. However, the price was in the profit area for 400pips and it was enough to earn or to protect trades. Market participants are going to pay attention to the US Labor Market data and we recommend doing nothing.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was growing last week frustrating our expectations. We think that GBP/USD is likely to decline 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 unclear.

AUDUSD

The currency pair offered an opportunity to sell from the MA13 and the price was in the profit area for 300pips allowing to earn or to protect trades. Market participants are going to pay attention to the US Labor Market and Average Earnings data. We recommend doing nothing before those events.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think it is going to develop this dynamics 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 avoid trading as the situation is unclear.

USDCHF

The currency pair followed Euro and USD/CHF was trading with high volatility. Market participants are likely to pay particular attention to the US Labor Market and Average Earnings data. We recommend doing nothing today as this data may have considerable impact on fluctuations.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had an upside correction last week according to our expectations. We think it is going to develop its upside correction 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 avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 5, 2017

GOLD (XAUUSD)

Gold has a strong downside tendency and failed to reach the MA13 offering no opportunities to sell according to our recommendations. There is still some space to further decline and the fluctuations are still very active. The main event for today is the US Labor Market data. We recommend doing nothing before the release of this statistics and taking any decisions after the data is published.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold continued its decline last week as there was no changes in geopolitical situation. We think XAU/USD is likely 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 avoid trading today as the situation is unclear.

SILVER (XAGUSD)

Silver has some difficulties when trying to move downwards as the price goes back upwards all the time. Strong support line prevents XAG/USD from further downside tendency. We think Silver is likely to grow today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD continued its decline last week according to our expectations. WE think that Silver is likely to stop 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 below the MA55 balance line. We advise to avoid trading today as the situation is unclear.

[Adamant Finance]

Technical Outlook May 8, 2017

EURUSD

The currency pair was growing on Friday despite the fact that the US data was better than expected. We think that the market participants gave some advance to Euro on the eve of the French Presidential elections’ second tour. Emmanuel Macron has won the elections and the price is likely to go back today. The results of the elections met market participants expectations and the currency pair is going to move downwards probably. The most important events for Euro this week are the European Central Bank Economic forecasts and the ECB’s head Mario Draghi speech.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was in the uptrend last week because of the French Presidential elections expectations and the better than expected Eurozone data. We think EUR/USD is likely to decline moderately 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 think that the price is going to reverse sharply and it is better to avoid trading today.

GBPUSD

The currency pair had some growth on Friday regardless the better than expected US Labor Market data. We think that GBP/USD is likely to slow down its growth today and it is going to reverse, starting a downside tendency. We still see no reasons for further currency pair’s grow and we think that the currency pair is going to decline this week. AS for the important data this week, we advise to pay attention to UK manufacturing production data and to Bank of England’s meeting, which is to take place on Thursday.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was declining in the first half of the last week but then has grown sharply on the better than expected UK data. We think that GBP/USD is likely to decline moderately 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.

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 unclear.

AUDUSD

The currency pair was growing on Friday despite the better than expected US Labor Market data. We think that AUD/USD is going to use the results of Friday releases today. There is not much data in the first half of the week. Australian Building Approvals data was worse than expected and the currency pair went downwards in the morning.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that AUD/USD is likely to develop this dynamics 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 avoid trading today as the situation is unclear.

USDCHF

The currency pair prepares itself to make a reverse as there is a pattern, indicating on such a probability. There is a resistance level (the trend line on the Hourly chart) that may pause USD/CHF growth. It is better to do nothing today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went downwards last week frustrating our expectations. We think that the currency pair is likely to correct upwards in the next couple of days.

There is the downtrend on the Hourly chart a 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.

Gold and Silver Technical Outlook May 8, 2017

GOLD (XAUUSD)

Gold declined on Friday after the better than expected US Labor market data. This statistics gave some support to those who believe in the Federal Open Market Committee positive decision on Interest Rates hike within the next Fed meeting on June. Special futures on the Interest Rates hike probability show growth from 67% before the data release to 74%. US CPI and Retail Sales data may strengthen those expectations.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price continued to decline moderately last week. We think that XAU/USD is likely to develop 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 below the MA55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the indicator.

SILVER (XAGUSD)

Silver is going to break through the trend line on the Weekly chart and may accelerate its speed. 16,20 level will be a control one. Silver is in a good position for short trades and we advise to take this opportunity.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price declined last week. We think that USD/CHF is likely to decline and to develop its downside tendency.

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 indicator.

[Adamant Finance]

Technical Outlook May 9, 2017

EURUSD

The currency pair was declining yesterday according to our expectations. We have predicted this sharp price reverse previously. Market participants are playing with Friday’s statistics, as US Labor Market data was stronger than expected. French elections were already included in price and after Monday’s gap the price is moving downwards. We think the price is going to decline today after a short consolidation period.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some support last week as the market participants were looking forward for the results of the French Presidential elections campaign. We think that EUR/USD is going to decline moderately 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 indicator.

GBPUSD

The currency pair was trading according to our expectations and GBP/USD started to move downwards. However, there is still the uptrend here and we give no recommendations as we expect the tendency to reverse completely in order to take some further steps. We think that this event is likely to happen today as the upside tendency slows down significantly.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some moderate decline in the first half of the last week but then grew sharply after the better than expected UK PMI data. We think that the currency pair is going to decline 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 unclear.

AUDUSD

The currency pair declined yesterday as the market participants paid more attention to the Friday’s US Labor Market data, which was stronger than expected and the Australian construction sector data, which was worse, than expected. Today’s retail sales data was disappointing as well. The currency pair accelerates its decline.

There is no trend on the Weekly chart as the price is below the MA55 balance line. He currency pair declined last week according to our expectations. We think AUD/USD is likely to develop this downside dynamics 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 MA5 balance line. Place stop losses above the indicator.

USDCHF

The currency pair had some growth yesterday and broke through the trend line on the Hourly chart. The tendency reversed as we had previously expected. We advise to wait until the price is back to the broken through trend line and to try buying from there. There is an important Swiss Labor Market today, which may have considerable impact on fluctuations.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair moved downwards last week again, frustrating our growth expectations. We think that USD/CHF is likely to start 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 open long trades from the broken through trend line. Place stop losses below the line.

Gold and Silver Technical Outlook May 9, 2017

GOLD (XAUUSD)

Gold was trading with a downside bias on Monday and we think this downside tendency is likely to continue and accelerate in the nearest future. The price bounced off the trend line yesterday and XAU/USD is going to develop its downside tendency today. Yesterday’s short trades according to our recommendations were closed by small stop losses.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price continued to go down last week We think this downside dynamics is likely to be developed 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 or from the trend line. Place stop losses above those indicators.

SILVER (XAGUSD)

Silver executed short trades according to our recommendations. However 16,20 level still prevents XAG/USD from further decline and we think that the precious metal is going to grow. We advise to leave the trade as it is waiting for the price to break through this level. It is better to place stop loss at breakeven level.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price decline accelerated last week. We think that XAG/USD is likely to break through the trend line and 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 hold short trades from 16,40 level.

[Adamant Finance]

Technical Outlook May 10, 2017

EURUSD

The currency pair continued its decline yesterday according to our expectations without even any sign of a correction. There was no opportunities to open trades because of such a strong downside tendency. The price has broken through the trend line and we think it is going to develop its decline in the nearest future. We advise to pay attention to today’s European Central Bank Head Mario Draghi speech as well as to US import and export prices data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair has got some support last week because of the French Presidential campaign expectations and the better than expected Eurozone data. We think that EUR/USD is likely to decline moderately 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 broken through trend line on the Hourly chart. Place stop losses above this line.

GBPUSD

The currency pair is in the neutral position at the moment but we expected it to develop the downside tendency previously. The reverse is slower than we thought. However, we think that GBP/USD is going to change its tendency finally today. There is no clear trend at the moment 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 declining in the first half of the last week, but then grew sharply on the better than expected UK PMI data. We think that the currency pair is likely to decline moderately 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 unclear.

AUDUSD

The currency pair failed to reach the MA55 balance line yesterday and there was no opportunity to open short trades according to our recommendations. We think that AUD/USD is likely to be close to the MA55 balance line today offering some good positions to short the currency pair. There is no more important data from Australia this week and we think that the currency pair is likely to be trading with normal volatility, offering opportunities to trade.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. WE think that AUD/USD is likely to develop this downside dynamics 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 indicator.

USDCHF

The currency pair failed to get back to the broken through trend line on the Hourly chart. It happens some time. There was no opportunity to open trades. The currency pair met another trend line and it is likely to bounce off it.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went down last week again frustrating our growth expectations. We think that it is going to develop 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 unclear.

Gold and Silver Technical Outlook May 10, 2017

GOLD (XAUUSD)

Gold was declining yesterday according to our expectations. The price was close to the MA55 balance line yesterday during the Asian session and there was an opportunity to sell. If you did this, you would have about 1 400 pips as profit. The price went upwards towards the trend line in the evening on the Hourly chart and it is likely to break it through. However, there is still the downtrend and we think 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. The price continued to decline moderately last week. We think that XAU/USD is likely to develop 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 below the MA55 balance line. We advise to open short trades from the MA55 balance line or from the trend line. Place stop losses above those indicators.

SILVER (XAGUSD)

Silver broke through 16,20 level and went even lower. There was an opportunity to fix short trades or toe protect them, waiting for further targets. WE think that Silver is likely to reach 15,70 level this week.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price went downwards last week, frustrating our expectations. We think that the price is likely to break through the trend line and to develop 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 below the MA55 balance line. WE advise to hold short trades from 16,40.
 

[Adamant Finance]

Technical Outlook May 11, 2017

EURUSD

The currency pair bounced off the broken through trend line according to our expectations. EUR/USD gave enough time to open short trades from the broken through trend line and the price declined for 400pips. It was enough to fix trades. Import and export US data was better than expected and gave some additional support to the US dollar. Market participants are likely to pay attention to US PPI data.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some support last week because of the expectations of the French Presidential Campaign and the better than expected Eurozone 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. Place stop losses above the indicator.

GBPUSD

The currency pair was trading in a range yesterday. There was no tendency reverse. Market participants are likely to wait for the UK data and the Bank of England Meeting, 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. The currency pair declined moderately in the first half of the week, but then grew sharply on the better than expected UK PMI data. We think that GBP/USD is likely to decline moderately 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 unclear.

AUDUSD

The currency pair slows down its decline and the short trades were closed by small stop losses. Yesterday’s import and export prices data from the United States pushed the quotes lower, but there were no new lows established. It Is better to avoid selling at the moment.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think that AUD/USD is likely to develop this downside dynamics 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 avoid trading today as the situation is unclear.

USDCHF

The currency pair has broken through the trend line frustrating our expectations. We thought that it was going to bounce off the line. Anyway, we gave no trading recommendations yesterday. It is time to try opening long trades today from the broken through trend line. Place small stop losses.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went downwards last week frustrating our growth expectations. We think that USD/CHF is going to have an 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 open long trades from the broken through trend line. Place stop losses below this line.

Gold and Silver Technical Outlook May 11, 2017

GOLD (XAUUSD)

Gold bounced off the MA55 balance line and there was an opportunity to open short trades according to our recommendations. If you did this, you would have about 780 pips as profit. However, the price failed to establish new weekly lows and we think XAU/USD is likely to start its upside tendency in the nearest future. We give no recommendations for today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price developed its moderate decline last week according to our expectations. We think that XAU/USD is likely to continue 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

SILVER (XAGUSD)

Silver is trying to reverse its tendency and it is better to fix all short trades from 16,40 level, which were opened earlier. We think that the correction is likely to be deeper and it is better to have some profit now, than to wait for further decline which is disputable. We give no recommendations for today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD develop its decline last week frustrating our expectations. We think that Silver is likely to break through the trend line and the precious metal is going to continue 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

[Adamant Finance]

Technical Outlook May 12, 2017

EURUSD

The currency pair reached the MA55 balance line yesterday, offering opportunities to open short trades according to our recommendations. The price declined for more than 400 pips and then occasions to take profit appeared. US PPI data showed stronger results than expected offering some support to the US dollar. Today market participants attention is going to shift to the US CPI and retail Sales data. The currency pair’s trend slows down step-by-step and if you decide to short EUR/USD, those trades will be of high risk.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had some support last week because of the upcoming French Presidential elections and the better than expected Eurozone PMI data. We think that EUR/USD is likely to decline moderately 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 open short trades from the MA55 balance line. Place stop losses at 150pips from the MA55 balance line.

GBPUSD

The currency pair declined after the release of the results of the Bank of England meeting, which took place yesterday. GBP/USD shows intensions to develop a downside tendency. There was no hints on the probability of the monetary policy tightening despite the growing inflation pressure. The currency pair has broken through the trend line and we think it is time to look for short trades from this trend line area.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week moderately as we had previously expected. However, GBP/USD grew sharply in the second half of the week thanks to better than expected UK data. We think that the currency pair is likely to decline moderately 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 broken through trend line. Place stop losses above this line.

AUDUSD

The currency pair makes an upside correction and it is a good decision to postpone short trades as the situation is unclear. Current tendency is neutral and we advise to avoid trading at the moment. However, we think that today’s US CPI and Retail Sales data is likely to have an impact on the currency pair, which is likely to develop its downside tendency.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week according to our expectations. We think it is going to develop this dynamics 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.

USDCHF

The currency pair offered an opportunity to open trades from the broken through trend line and the price was in the profit area for 250pips. Is was enough to place stop losses at breakeven level. There is no tendency currently and we advise to do nothing at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair went downwards last week frustrating our growth expectations. We think it is going to have a correction in the next couple of days.

There is the uptrend 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 unclear.

Gold and Silver Technical Outlook May 12, 2017

GOLD (XAUUSD)

Gold tries to reverse its current tendency upwards and we have taken a good decision to stay away from trading. Upside correction is narrow and it is very uncomfortable to trade in those conditions. We give no recommendations for today as there is no clear tendency.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price continued to decline last week. We think Gold is likely to develop the same dynamics 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.

SILVER (XAGUSD)

Silver went back towards 16,40 and we have advised to fix trades. The correction is deep but it may end after the release of today’s US CPI and Retail Sales data. There is no clear tendency and we give no recommendations.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price declined last week frustrating our expectations. We think that Silver is likely to break through the trend line and to develop its decline.

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.

[Adamant Finance]

Technical Outlook May 16, 2017

EURUSD

The currency pair ended the first day of the new week with an active growth. We think that EUR/USD is likely to develop its growth today and then to start a correction in the second half of the week. There are some important events today – German Zew Economic Sentiment (which results are forecasted to be better than previous data) and US Building Permits data. The price is far from the Balance line and it is better to do nothing.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined moderately last week according to our expectations. We think that EUR/USD is likely to grow moderately 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 unclear.

GBPUSD

The currency pair had an upside correction yesterday and we think GBP/USD is likely to develop this tendency today especially if the UK CPI data will be better than expected (it is going to grow from 2,3 to 2,6% according to forecasts). However, we think that there will be no significant growth anyway as the Bank of England underlined that there will be no monetary policy tightening regardless the growing inflation rate.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was declining last week according to our expectations. We think it is going to grow 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 open short trades from the MA55 balance line. Place stop losses below this indicator.

AUDUSD

The currency pair is still in the upside correction despite the release of the last Reserve Bank of Australia Meeting minutes. AUD/USD declined briefly and resumed its upside tendency soon. We think that the currency pair is likely to develop its growth in the nearest future.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its decline last week but then went upwards in the second half of the week. We think AUD/USD is likely to develop its moderate 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 above the MA55 balance line. We advise to open long trades from the MA55 balance line. Place stop losses below this indicator.

USDCHF

The currency pair continued its Friday’s decline on Monday. There is a downside tendency currently and we advise to look for short trades. The price is far from the balance line however, and we give no recommendations today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some moderate growth last week according to our expectations. We think it is going to 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 avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 16, 2017

GOLD (XAUUSD)

Gold reversed its tendency upwards and we think it is time to look for long trades. However, there is a resistance on the Hourly chart which still holds Gold from moving higher. It is risky to open long trades from here and we advise to wait until the price breaks through the trend line and to open long trades when the price goes to it during a correction or to avoid trading today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold continued its moderate decline last week but then reversed upwards in the end of the last week. We think XAU/USD is likely to develop its upside dynamics 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 or to open trades only if the price breaks through the trend line on the Hourly chart.

SILVER (XAGUSD)

Silver accelerates its growth and breaks through the resistance line. The price moved higher then without a correction towards this former resistance. We can see a strong upside momentum. It is time to look for long trades but the price is far from the Ma55 balance line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver made a fakey last week and then returned. We think XAG/USD is likely to develop its upside dynamics 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 unclear.

[Adamant Finance]

Technical Outlook May 17, 2017

EURUSD

The currency pair continued its growth according to our expectations, which was supported by both ZEW Eurozone Economic sentiment that was far better than expected and US Building Permits data, which was worse than forecasted. However today EUR/USD is likely to meet its first considerable resistance. There are no chances to open long trades as the growth is truly sharp. 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. The currency pair declined moderately last week according to our expectations. We think it is going to have a 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

GBPUSD

The currency pair reacted with growth on the UK better than expected CPI data but then GBP/USD declined sharply. As we had previously mentioned, Bank of England hinted that they are going to follow their current ultra “easy” monetary policy despite the growing inflation pressure. If you had bought from the MA55 balance line, those trades closed by stop losses. There is no clear tendency currently and we think it is a good idea to do nothing today. We give no recommendations.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined moderately last week according to our expectations. We think it is going to grow 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. However, there is no clear tendency at the moment and we advise to avoid trading today as the situation is unclear.

AUDUSD

The currency pair offered to execute long trades from the MA55 balance line. However, the price did a small 100pips correction before going further upwards. Then, the price went upwards for 300pips and it was enough to fix trades partially. You could also move your stop losses in order to protect your existing trades. Those stop losses have not yet triggered and you may leave those positions.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its decline last week but then moved upwards. We think AUD/USD is likely to continue 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

USDCHF

The currency pair had a significant downside tendency as CHF was growing against USD. There is not a single chance to open trade in such a sharp movement. The price fails to reach the MA13 and make a single correction.

There is the uptrend on the Weekly chart as the price is above the ma55 balance line. The currency pair had an expected growth last week. We think it is going to 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 avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 17, 2017

GOLD (XAUUSD)

Gold offered opportunities to open long trades from the broken through trend line. This break through wasn’t sharp and you had a chance to open long trades with closer stop losses. The price was in the profit area for 1100 pips.

You could fix trades partially, leaving some positions as this growth has a huge potential and the price may go further. We advise to hold some of your trades and place stop losses at breakeven level.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold declined moderately last week but then went upwards. We think that XAU/USD is likely to develop 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 hold your trades but to avoid opening new ones.

SILVER (XAGUSD)

Silver offered opportunities to open long trades from the MA13, but we gave no recommendations. There is a strong uptrend here, but the price is far from the MA55 balance line. You can try open new trades from the MA13, but risks are very high.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver did a fakey last week and returned in the second part of the week to its previous positions. We think XAG/USD is likely to develop 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 unclear.

[Adamant Finance]

Technical Outlook May 18, 2017

EURUSD

The currency pair is still far from the MA55 balance line and leaves to MA-channel from time to time. There are no opportunities to open trades as we have previously mentioned. You could open long trades from the MA13 yesterday, but the price went 150pips in the opposite side. Macron’s victory inspired business as there is no more threat of the Frexit procedure. This event resulted in EUR/USD rally. We give no recommendations today as the price is far from the MA55 balance line and 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 declined moderately last week according to our expectations. We think EUR/USD is likely to grow moderately 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 unclear.

GBPUSD

The currency pair had some growth yesterday after the release of the UK Labor Market data, which was better than expected, as the number of unemployed persons decreased. However, this growth is fragile as the currency pair has met a resistance level on the Weekly chart. If it breaks it through, there will be chances for the further growth. However, the currency pair shows no intention to develop its upside tendency at the moment. We advise to wait for short trades opportunities.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined moderately last week according to our expectations. We think it is going to grow 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 unclear.

AUDUSD

The currency pair ended yesterday’s long trades at breakeven level. AUD/USD failed to grow further and we think it is preparing for another downside tendency. However, today’s Australian Labor Market data was better than expected and SUD/USD had some growth, which is likely to be limited by the trend line on the Hourly chart. If the currency pair fails to break through 0,7450 level, there will be opportunity to open short trades with high risks.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued its decline last week but reversed in the second half of the week. We think AUD/USD is likely to develop 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 open short trades from 0,7450. Place stop losses at 0,7460.

USDCHF

The currency pair continued its decline yesterday. There is not a single chance to open trades. There was an opportunity to sell yesterday from the MA13, but the price was close to the lower side of the MA-channel and the risks were too high.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some growth last week as we had previously expected. We think USD/CHF is likely to develop 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 avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 18, 2017

GOLD (XAUUSD)

Gold had some growth yesterday according to our expectations and there was an opportunity to open long trades from 1234,00. If you opened positions, you could fix them close to 1261,00. The profit was equal to 2 700pips. Risks were low but the reward was at maximum. We think it is time to stop trading Gold as there will be no huge moves this week anymore.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price declined moderately last week, but then moved upwards in the end of the week. We think that the upside dynamics is likely 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 avoid trading today as the situation is unclear.

SILVER (XAGUSD)

Silver offered opportunities to open long trades from the MA13, but the profit was small. However, you had a chance to fix trades partially and to protect the rest. There is no tendency currently and we advise to do nothing today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD made a fakey last week and returned to its previous positions. We think Silver is likely to develop 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 unclear.

[Adamant Finance]

Technical Outlook May 19, 2017

EURUSD

The currency pair ended its upside tendency yesterday and went back towards the MA55 balance line. We think EUR/USD is likely to start a deep correction. The MA55 balance line still looks upwards but we think it is going to change its bias today. We give a recommendation to sell if this happens. Look for two conditions to open short trades – the MA55 should have a downside bias and the price should be below the curve. There is no important data today and we think the currency pair is likely to develop this current dynamics.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined moderately last week according to our expectations. We think it is going to grow moderately 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 open short trades from 1,11350.

GBPUSD

The currency pair had a strong growth yesterday after the release of the UK Retail Sales data, which was far better than expected. Retail Sales in the United Kingdom showed serious growth (2,3% against -1,4% previous data). However, the growth was temporary and the currency pair went downwards during the American session. GBP/USD shows intentions to decline, but the MA55 balance line still looks upwards.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined moderately according to our expectations. We think GBP/USD is going to grow significantly 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 ad vise to avoid trading today as the situation is unclear.

AUDUSD

The currency pair made some attempts to establish new highs above 0,7450 and short trades from that level closed by stop loss. However, the price failed to reach the trend line and we advise to pay attention to the currency pair’s fluctuations. If it goes downwards, there will be opportunities to sell.

There is no trend on the Weekly chart as the price is below the MA55 balance line. The currency pair continued to decline but then sharply grew in the second half of the last week. We think AUD/USD is likely to develop some moderate growth and then change 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

USDCHF

The currency pair went back to the MA55 balance line and we think it is time to look for short trades with close goals. Current tendency is still strong and we think there will be no sharp reverse in the nearest future. We recommend trying to sell with close stop losses today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some growth as we had previously expected. We think USD/CHF is likely to 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 0,98100-0,98200. Place stop losses at 0,98300.

Gold and Silver Technical Outlook May 19, 2017

GOLD (XAUUSD)

Investors were fixing long trades yesterday, which resulted in a sharp decline in the second half of the day. We had no opened trades at that moment and were just observing the fluctuations. There is still the uptrend but the price is below the MA55 balance line at the moment. We think that XAU/USD is likely to change its tendency in the next couple of days.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price continued to decline moderately last week but then moved upwards. We think that Gold is likely to develop its upside dynamics 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 unclear.

SILVER (XAGUSD)

Silver started to change its tendency yesterday and we think that it is time to look for short trades from the MA55 balance line. Yesterday’s US data was better than expected and USD has some additional support. Precious metals are likely to decline in the nearest future, if USD goes upwards.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver made a fakey last week and then went back to its previous positions. We think than XAG/USD is likely to develop its upside dynamics 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 indicator.

[Adamant Finance]

Technical Outlook May 22, 2017

EURUSD

The currency pair resumed its growth on Friday and the sort trades, which were opened according to our recommendations, closed by stop losses. The main reason for the failure was that we have not waited for the tendency to reverse. We give no recommendations to buy as the price is far from the MA55 balance line. There are many Federal Open Market Committee members comments this week. Market participants will also pay attention to the European Central Bank head’s comments this week. Investors will look for some hints on further monetary policy tightening.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some significant growth last week frustrating our moderate growth expectations. We think that this week’s dynamics will depend on the political situation in the United States.

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 unclear.

GBPUSD

The currency pair was trading with an upside correction on Friday and today GBP/USD starts to reverse its tendency. It is still too early to open short trades but we think that the price is likely to be ready to develop its downside tendency tomorrow. As for the Weekly chart, we still can see some signs of further growth and we think that the predicted decline may be limited. We give no recommendations, as the currency pair still trying to make a clear reverse.

There is the downtrend on the Weekly chart as the price is close to the MA55 balance line. The currency pair was fluctuating according to our expectations and had some moderate growth. We think it is going to growth 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 unclear.

AUDUSD

The currency pair went to the trend line as you may see it on the chart and started to test it. There is no clear trend at the moment and it is hard to say whether AUD/USD is going to break through this resistance or stays below. If it manages to break through the resistance, we recommend buying the currency pair. Place stop losses below the line in the case.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations and failed to go down by the end of the last week. We think it is going to develop its moderate growth 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 unclear.

USDCHF

The currency pair develop its decline according to our expectations. There was no opportunity to open short trades from 0,98100-0,98200 according to our expectations as the price failed to reach those levels. However, the currency pair is likely to continue its decline after a sort of a correction. The first significant resistance to prevent USD/CHF from a correction is a trend line on the Hourly chart.

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 USD/CHF is likely to develop its downside tendency in case if the political situation in the United States will press on USD.

Thee 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.

Gold and Silver Technical Outlook May 22, 2017

GOLD (XAUUSD)

Gold corrected to the trend line on the Hourly chart on Friday. We think that this pattern indicates on the probability of further decline. However, as for the weekly chart, we see there the probability of growth towards the trend line and it means that the trend line on the Hourly char is likely to be broken through. It is better to do nothing at the moment as the situation is unclear.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD continued its growth last week according to our expectations. We think that the price is likely to grow 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 unclear.

SILVER (XAGUSD)

Silver offered an opportunity to open short trades according to our recommendations. However, this downside tendency stopped and today there will be neutral tendency. There is no clear bias at the moment and we advise to do nothing.

There is the downtrend on the weekly chart as the price is below the MA55 balance line. Silver continued its growth last week according to our expectations. XAG/USD is likely to develop its upside dynamics in the next couple of days if it goes through 17,00 level.

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.

[Adamant Finance]

Technical Outlook May 23, 2017

EURUSD

The currency pair resumed its growth after a morning correction yesterday. Price failed to reach the MA55 balance line and there was no opportunity to buy. Market participants are waiting for the release of the Federal Open Market Committee meeting minutes. There is important German and Eurozone data today and we expected the volatility to grow. The price is far from the MA55 balance line and we give no recommendations today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had considerable growth last week frustrating our moderate growth expectations. We think that the dynamics is going to depend on the US political situation 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 unclear.

GBPUSD

The currency pair was trading within Friday’s range. We think GBP/USD is likely to leave this range today after the Bank of England’s inflation report. The currency pair still has no clear direction of fluctuations and there is no tendency currently.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some growth last week according to our expectations. We think that GBP/USD is likely to grow 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 unclear.

AUDUSD

The currency pair has tested the trend line during the Asian session and has broken it through. Then it went towards the trend line again offering some long trades opportunities, as we had previously expected. We think that it is bad time to do anything at the moment if you failed to open trades when the price was close to the trend line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations. We think AUD/USD is going to 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

USDCHF

The currency pair developed its decline yesterday according to our expectations. We have deleted trend line as it is no more actual. The price is likely to go upwards towards the trend line on the Weekly chart, but the current pattern indicates on the probability of further decline. You can try short trades today.

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 develop its downside tendency in the next couple of days in case of favorable US political situation.

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 indicator.

Gold and Silver Technical Outlook May 23, 2017

GOLD (XAUUSD)

Gold is following the expected scenario and the price has broken through the trend line on the Hourly chart. There is no clear tendency currently, but there is a probability of growth and we think it is time to look for long trades from the broken through trend line. US Interest Rates hike expectations are high again, but Gold still holds its positions and even seems to go higher. We think that investors are paying more attention to the probability of impeachment to Donald Trump.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD continued its growth last week according to our expectations. We think Gold is likely to grow in the next couple of days. If the trend line on the Hourly chart is going to be broken through.

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 broken through trend line. Place stop losses below the line.

SILVER (XAGUSD)

Silver established new highs from May 1st. Those signs are indicating that the precious metal is ready to grow further. The key 17,00 level was crossed and we advise to open long trades from its area.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver continued its growth last week according to our expectations. We think that the precious metal is going to develop its upside dynamics 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 17,00 area. Place stop losses below this level.

[Adamant Finance]

Technical Outlook May 24, 2017

EURUSD

The currency pair started to decline yesterday as market participants were fixing their positions on the eve of today’s Federal Open Market Committee Meeting minutes. Investors decided to avoid risks and they were partially fixing their trades after a considerable growth. Eurozone’s better than expected data was unable to support the currency pair’s growth. Market participants are going to pay attention to today’s FOMC meeting minutes.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some considerable growth last week frustrating our moderate growth expectations. EUR/USD’s dynamics will depend on the political situation in the United States 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 unclear.

GBPUSD

The currency pair still looking for its direction of fluctuations. There was no release of the inflation Report by the Bank of England. We think that it is some error in the schedule. The main event for today is the Federal Open Market Committee meeting minutes. We think that the currency pair is likely to choose any direction after this event and there will be opportunities to open trades tomorrow.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some growth according to our expectations. We think that GBP/USD is likely to develop its growth 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 unclear.

AUDUSD

The currency pair managed to pass about 500pips above the trend line but today AUD/USD is trying to cross this line fr om the upper side. This situation is due to the Moody’s rates on China, which are worse than expected. We still have no idea wh ere this downside tendency is going to make a stop but we think that the dynamics is likely to change after the Federal Open Market Committee Meeting minutes release.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations but it failed to decline by the end of the week. We think AUD/USD is likely to develop its growth 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 unclear.

USDCHF

The currency pair managed to reach the MA55 balance line allowing traders to sell from there. The price declined for 400pips and it was enough to fix profit. There is no tendency today and we advise to avoid trading.

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 likely to develop 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 above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

Gold and Silver Technical Outlook May 24, 2017

GOLD (XAUUSD)

Gold offered an opportunity to open long trades according to our recommendations and stop loss triggered. The price went below the trend line, and there is a fakey at the moment on the chart. We think that this situation is due to the release of the FOMC meeting minutes release. Market participants are fixing their trades.

There is no trend on the Weekly chart a the price is close to the MA55 balance line. The price continued its growth last week according to our expectations. We think gold is likely to develop its growth in the next couple of days, if it breaks through the trend line on the Hourly chart.

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 unclear.

SILVER (XAGUSD)

Silver declined to 17,00 offering opportunities to open long trades according to our recommendations. Then the price went upwards for 25 pips and it was enough to fix positions. A little bit later the price went towards 17,00 level again and broke it through. We think that it is better to do nothing today and to take decisions after the FOMC meeting minutes results release.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver continued its growth last week according to our expectations. We think that XAG/USD is likely to develop its upside dynamics if 17,00 level is to be passed.

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 unclear.

[Adamant Finance]

Technical Outlook May 25, 2017

EURUSD

The currency pair was trading with an upside bias after the release of the Federal Open Market Committee meeting minutes. Those minutes say that the monetary policy is going to be the same but there will be another Interest Rates hike in the nearest future. However, some FOMC members are worried about inflation decrease. There was no significant change in price and we think you can try to open short trades from the weekly highs. This trade, however, is too risky as you are going to open positions in the opposite direction to the current tendency.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some growth last week frustrating our moderate growth expectations. We think that EUR/USD’s dynamics is going to depend on the political situation in the United States.

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 sell from 1,12600 level. Place stop losses above this level.

GBPUSD

The currency pair continues its downside correction. There are no opportunities to open trades in this situation. The FOMC meeting minutes failed to provoke volatility growth and the currency pair is still trading without any direction.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some growth last week according to our expectations. We think that the currency pair is going to grow 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 unclear.

AUDUSD

The currency pair went upwards after the FOMC meeting minutes. The price reached the weekly highs and bounces off them. However, we think AUD/USD is going to break through those highs. There is almost no tendency at the moment and it is better to do nothing today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations but failed to decline in the end of the week. We think the currency pair is likely to develop 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 unclear.

USDCHF

The currency pair was in a range yesterday and started to decline right after the FOMC meeting minutes release. USD/CHF is almost ready to go further downwards but we give no recommendations as there is no clear tendency yet.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair declined moderately last week according to our expectations. USD/CHF is likely to develop its decline in the next couple of days in case if the US political situation remains unstable.

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 unclear.

Gold and Silver Technical Outlook May 25, 2017

GOLD (XAUUSD)

Gold had some growth after the US FOMC meeting minutes release. Those minutes say that the monetary policy remains unchanged and the FOMC members are going to increase Interest rates but some of them are worried about the inflation decrease. June Interest Rates hike expectations remained unchanged. The price is within a triangle without any tendency. We advise to do nothing today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The price had some growth last week according to our expectations. Gold is able to grow this week if it is going to break through the trend 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 today as the situation is unclear.

SILVER (XAGUSD)

Silver was growing yesterday after morning’s decline. The price is close to is weekly highs and may establish new ones. There is the upside tendency currently and we think it is time to try long trades from the MA55 balance line.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver continued its growth last week according to our expectations. We think XAG/USD is likely to develop its upside dynamics in the next couple of days if the price breaks through 17,00 level.

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 this indicator.

[Adamant Finance]

Technical Outlook May 26, 2017

EURUSD

The currency pair continued its range fluctuations with high volatility. There was not a single chance to open short trades as the price failed to reach to necessary level. The currency pair crossed the trend line on the Hourly chart and we think EUR/USD is likely to develop downside tendency in the nearest future. We advise to open short trades from the broken through trend line.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair had some considerable growth last week frustrating our moderate growth expectations. EUR/USD’s dynamics will depend on the political situation on the United States within 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 open short trades from the broken through trend line. Place stop losses above this indicator.

GBPUSD

The currency pair declined yesterday after the release of the UK GDP data, which was worse than expected. GBP/USD accelerated its decline today in the morning and the price broke through the trend line on the Hourly chart. This indicates on the probability of further downside tendency to develop. We think it is time to look for short trades from the broken through trend line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations. We think that the currency pair is going to growth 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. Place stop losses above the indicator.

AUDUSD

The currency pair shows the same dynamics as its allies currencies. AUD/USD accelerated its decline today in the morning and the price has broken through the trend line on the Hourly chart. This fact indicates on the probability of further decline. We advise to try short trades from the broken through trend line.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations, but it failed to decline towards the end of the week. We think AUD/USD is likely to develop its growth 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 broken through trend line. Place stop losses above the line.

USDCHF

The currency pair was trading within a tight range last week. We think that there is a probability of a significant growth today, but there is still no tendency currently. It is better to do nothing today 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 declined last week according to our expectations. We think it is likely to develop its downside tendency. However, USD/CHF depends now on the political situation in the United States.

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 unclear.

Gold and Silver Technical Outlook May 26, 2017

GOLD (XAUUSD)

Gold is trading within a triangle without any clear direction. We think the precious metal is going to continue this dynamics today. There is important US data incoming. However, if this data meets expectations, we think Gold is likely to be trading with low volatility.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair developed its growth last week according to our expectations. The price is likely to grow this week if it breaks through the trend 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 today as the situation is unclear.

SILVER (XAGUSD)

Silver slows down its tendency. There was an opportunity to open long trades from the MA55 during the Asian session. If you managed to buy, it is better to fix those trades with small profit. There was no further growth and we think it is better to do nothing at the moment.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver continued its growth last week according to our expectations. We think XAG/USD is likely to develop its upside dynamics if Silver is going to cross 17,00 level.

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 unclear.

[Adamant Finance]

Technical Outlook May 29, 2017

EURUSD

There was an opportunity to sell the currency pair from the broken through trend line on Friday, but the price crossed the line and stop losses triggered. EUR/USD tries to establish a downside tendency as the pattern for this is clearly seen on the chart. The Advanced US GDP data, released on Friday, was far better than expected. We advise to try opening short trades from the MA13 today. However, those positions will be very risky.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair established new highs last week and then stopped to grow. The currency pair is likely to develop 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 below the MA55 balance line. We advise to open short trades from the MA13. Place stop losses above this curve.

GBPUSD

There was no opportunity to open short trades as the currency pair failed to get back towards the broken through trend line on Friday. However, for those who managed to sell there was a chance to take some profit. There is an opportunity today to sell from the horizontal level.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair declined last week frustrating our growth expectations. We think that GBP/USD is going to develop 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 1,28550 level. Place stop losses above this line.

AUDUSD

The currency pair failed to reach the broken through trend line and offered no opportunities to open short trades according to our recommendations. If you managed to sell from there, you had almost no chances to take any significant profit as the downside tendency was too small. We think that AUD/USD is likely to be more active today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The currency pair had some moderate growth last week according to our expectations, but decline in the final hours of the last five days. We think that AUD/USD is likely to 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 this indicator.

USDCHF

The currency pair is still trading within a tight range and there was no growth, which frustrated our expectations. We gave no recommendations as there is no clear tendency. The currency pair still shows no activity and it is better to do nothing today and wait until the situation is going to change.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was in a limited range last week. We think it is going to grow 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.

Gold and Silver Technical Outlook May 29, 2017

GOLD (XAUUSD)

Friday’s Advanced US GDP data was better than expected. However Gold’s price went upwards instead of going downwards. Anyway, XAU/USD has broken through the triangle in the end of the last week. WE think that Gold is likely to grow in the beginning of this week. However, the trend line on the Weekly chart may limit this growth.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD broke through the trend line on Friday and there was an expected growth in the end of the last week. We think that Gold is likely to develop this upside dynamics in the next couple of days. However, you should pay attention to the strong resistance on the way.

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 this indicator.

SILVER (XAGUSD)

Silver continued its growth, establishing the upside tendency. XAG/USD is likely to develop this tendency, but it is going to be limited by several resistance levels on 17,40, 17,75 and 18,50.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver crossed 17,00 level last week and continued its growth according to our expectations. We think that XAG/USD is likely to develop its upside dynamics 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 this indicator.