Re: Adamant Finance - Daily Analysis
Posted: Thu, 23 February 2017, 9:27 am
Technical Outlook February 23, 2017
EURUSD
The currency pair was trading in both directions as the market participants were awaiting for Federal Open Market Committee minutes. USD was growing on the eve of the release and declined further as FOMC comments did not meet investors’ expectations. Everybody wants to know when FED is going to hike Interest Rates this year. The Interest Rates hike odds is about 18% on March and 50% on May. There was an opportunity top open short trades from the MA5 balance line and the price was in a profit area for 300 pips. It was enough to protect trades or fix positions partially. The currency pair is likely to develop its upside correction, launched yesterday.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in both directions last week. We think it is going to grow or to be trading without any direction in the nearest future.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.
GBPUSD
The currency pair was trading within a large channel which changed its direction to a flat. You may try to open trades from this range’s boundaries, but we give no recommendation in this situation. Yesterday’s Advance UK GDP data showed some decrease and this is going to push GBP/USD downwards. You may try to open short trades from the upper boundary of this flat channel. However, this boundary is rather wide.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week. We think it is going to develop its downside tendency in the nearest future.
There is no trend on the Hourly chart as the mA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading as the situation is still unclear.
AUDUSD
The currency pair continues to be trading within a range in which it was fluctuating for the past two weeks. It looks like AUD/USD is in flat at the moment and we give no recommendations in this situation.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was no growth acceleration last week and the currency pair is still on the same positions. We think that it is going to develop some downside correction in the nearest future.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading as the situation is still unclear.
USDCHF
The currency pair failed to approach the trendline during yesterdays’ sessions and returned to the area right after FOMC minutes. You may try long trades from the trend line today. Stop loss should be around 100-150 pips.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was no clear direction last week but we think that the currency pair is going to grow moderately in the nearest future.
There is the uptrend on the Hourly chart as the MA- channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the trend line on the Hourly chart. Place stop losses below the line.
Gold and Silver Technical Outlook February 23, 2017
GOLD (XAUUSD)
Gold was trading with no clear direction yesterday on the eve of the Federal Open Market Committee meeting minutes. XAU/USD was growing before the release and declined right after the event. Then Gold started to grow again. XAU/USD’s upside tendency is provoked by the fact that there is no news on further monetary policy tightening in the United States. Interest Rates hike odds reached 18% for March and 50% for May consequently. There was an opportunity to sell from the trend line but those trades closed by stop losses.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The price continued to be trading close to the MA55 balance line last week. We think that the precious metal is going to develop this dynamics in the nearest future.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.
SILVER (XAGUSD)
Silver failed to reach 17,85. It is time to close short trades if you had ones. Silver is in flat at the moment and its further direction is still unclear. It is better to do nothing today.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a correction growth last week. WE think that an upside correction is going to develop in the nearest future.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
EURUSD
The currency pair was trading in both directions as the market participants were awaiting for Federal Open Market Committee minutes. USD was growing on the eve of the release and declined further as FOMC comments did not meet investors’ expectations. Everybody wants to know when FED is going to hike Interest Rates this year. The Interest Rates hike odds is about 18% on March and 50% on May. There was an opportunity top open short trades from the MA5 balance line and the price was in a profit area for 300 pips. It was enough to protect trades or fix positions partially. The currency pair is likely to develop its upside correction, launched yesterday.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair was trading in both directions last week. We think it is going to grow or to be trading without any direction in the nearest future.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.
GBPUSD
The currency pair was trading within a large channel which changed its direction to a flat. You may try to open trades from this range’s boundaries, but we give no recommendation in this situation. Yesterday’s Advance UK GDP data showed some decrease and this is going to push GBP/USD downwards. You may try to open short trades from the upper boundary of this flat channel. However, this boundary is rather wide.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair declined last week. We think it is going to develop its downside tendency in the nearest future.
There is no trend on the Hourly chart as the mA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading as the situation is still unclear.
AUDUSD
The currency pair continues to be trading within a range in which it was fluctuating for the past two weeks. It looks like AUD/USD is in flat at the moment and we give no recommendations in this situation.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was no growth acceleration last week and the currency pair is still on the same positions. We think that it is going to develop some downside correction in the nearest future.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading as the situation is still unclear.
USDCHF
The currency pair failed to approach the trendline during yesterdays’ sessions and returned to the area right after FOMC minutes. You may try long trades from the trend line today. Stop loss should be around 100-150 pips.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was no clear direction last week but we think that the currency pair is going to grow moderately in the nearest future.
There is the uptrend on the Hourly chart as the MA- channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the trend line on the Hourly chart. Place stop losses below the line.
Gold and Silver Technical Outlook February 23, 2017
GOLD (XAUUSD)
Gold was trading with no clear direction yesterday on the eve of the Federal Open Market Committee meeting minutes. XAU/USD was growing before the release and declined right after the event. Then Gold started to grow again. XAU/USD’s upside tendency is provoked by the fact that there is no news on further monetary policy tightening in the United States. Interest Rates hike odds reached 18% for March and 50% for May consequently. There was an opportunity to sell from the trend line but those trades closed by stop losses.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The price continued to be trading close to the MA55 balance line last week. We think that the precious metal is going to develop this dynamics in the nearest future.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear.
SILVER (XAGUSD)
Silver failed to reach 17,85. It is time to close short trades if you had ones. Silver is in flat at the moment and its further direction is still unclear. It is better to do nothing today.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a correction growth last week. WE think that an upside correction is going to develop in the nearest future.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.