Reading charts is always easier than interpreting vast conflicting data. Gold, Silver and the U.S. Dollar index continue to form clear patterns and generate high probability trades. Here is what an astute analyst is saying about the reason for temporary uncertainty in the market. https://www.dailyfx.com/forex/video/live_events/2018/01/23/Gold-Awaits-Dollars-Lead-Before-Deciding-Critical-Breakout-or-Reversal.html?DFXfeeds=forex:video:live_events
Before the Japanese Monetary Policy Statement was released the charts showed a perfectly clear pattern that indicated Yen pairs were about to drop. So clear and certain many of us entered before the news and are now in profit. I guess the U.S. government shutdown being over may have had something to do with it. also. https://www.cnbc.com/2018/01/22/asia-markets-bank-of-japan-currencies-in-focus.html
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If the Bank of Canada does follow through with the forecast to raise the interest rate it could later cause Gold prices to drop according to Iliya Spivak Sr. Currency Strategist for Daily FX. https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2018/01/17/Gold-Prices-May-Fall-if-BOC-Signals-More-Rate-Hikes-on-the-Horizon.html?DFXfeeds=forex:fundamental:daily_briefing:daily_pieces:commodities
Japanese shares managed to push higher while the EUR broke a 3-year resistance with positive sentiment created by Germany’s recent commitment to provide funds for EU economic recovery. Last week was filled with nice surprises. https://www.reuters.com/article/us-global-markets/asian-shares-hit-record-high-euro-near-three-year-top-idUSKBN1F501C?feedType=RSS&feedName=topNews
From the weekly point of view, the U.S. dollar is doing exactly what it should be doing. But at the end of last week, I had some hope it might turn. Now the picture has changed and it no longer even looks like it might be getting ready to turn. https://www.dailyfx.com/forex/video/daily_news_report/2018/01/16/Dollars-Pain-Continues-Despite-Holiday-Positioning-Hits-Extremes.html?
Listen to this episode and get a glimpse into the life and journey of Andre Boyd, a young trader from New York who quickly rose to the top through diligent perseverance and commitment to study and practice. With a thirst for trading knowledge Andre has accumulated more trading knowledge in the few years of involvement that most traders would … Read More