Gold and Silver Spot

Gold we wrote: Expect strong resistance at 1485/86.
We topped a point below here & bottomed exactly at first support at 1472/71.

Silver unfortunately topped just a little below our selling opportunity at 1737/39.


Daily Analysis

Gold minor resistance at 1476/77. Expect strong resistance at 1486/88 & again at 1493/94. A break higher is a medium term buy signal.

We bottomed exactly at first support at 1472/71. On further losses look for good support at 1466/64. Longs need stops below 1462.

Silver unexpectedly reversed & lost all the gains breaking back below 1698/96 to remain in a sideways trend. Strong support at the November low of 1667/62. Longs need stops below 1650 for another buying opportunity at 1630/20.

Quite strong resistance at 1697/02 but a break above targets 1710, 1720 & selling opportunity at 1730/40 with stops above 1755. A break higher is a buy signal.



Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is neutral

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD moving one step closer to 1.1000

The shared currency remains under pressure amid dismal local data and persistent demand for the greenback in a risk-averse environment. EUR/USD trading near a daily low of 1.1009.


GBP/USD trims early gains, trades in the red

The GBP/USD pair has retreated from its daily high of 1.3105 and now trades marginally lower daily basis near 1.3050, amid dollar’s strength, looming BOE and Brexit.


Crypto market: FOMO mode on, the late-comer's doubt

The crypto market opens the trading week by taking advantage of the momentum of the movement that started early Sunday morning. As if it were an established rhythm, this week it is time to go up after going down the previous one, and up again the previous one.

Read more

WTI bounces from 3-month lows near $52.00

There is no respite for the barrel of WTI on Monday, as prices of the American benchmark for the sweet light crude oil tumbled to the $52.00 region in early trade, area last visited in early October 2019.

Oil News

USD/JPY: Bears lead on the run to safety

Coronavirus getting stronger, infections to continue to rise. Risk-off Monday, an empty macroeconomic calendar exacerbates sentiment trading. USD/JPY to accelerate its decline on a break below 108.65, a critical Fibonacci support level.


Forex Majors