Gold and Silver buy signals trigger [Video]

Jason Sen DayTradeIdeas.co.uk

Gold is pushing higher for the 3rd day in a row, which we have not seen for 5 weeks.

Gold beat minor trend line resistance at 4090/4100 to target last week's high at 4119/4120.

We are testing minor resistance at the 1 month descending trend line at 4135/4140.

A sustained break above 4140 tests Fibonacci resistance at 4160/4170.

The rally is taking baby steps at the moment as we tackle the minor resistance levels.

I am hoping this is the start of a bullish breakout so maybe shorts are too risky.

A break above 4175 should be a medium term buy signal and hopefully we can run up quite quickly - initially to 4210/4215.

For now I will hope that this is the start of a bull run and therefore I will suggest buying at minor support at 4095/4090 & longs need stops below 4085.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

GBP/USD hovers around 1.3450 amid upbeat mood, ahead of ADP

GBP/USD is inching higher above 1.3450 in European trading on Wednesday, helped by reduced haven appeal for the US Dollar as markets cheer a potential US-Iran deal on the Strait of Hormuz reopening. The decision is due later in the day. Traders also look forward to the US ADP and ISM Services PMI data.

EUR/USD keeps range near 1.1550 on Hormuz reopening optimism

EUR/USD holds ground near 1.1550 in the early European hours on Wednesday. The pair stays supported amid hopes for a US-Iran deal on the reopening of the Strait of Hormuz, which lifts risk sentiment and keeps the safe-haven US Dollar on the back foot. The US ADP Employment data and ISM Services PMI report are in the spotlight alongside Mideast headlines.

USD/INR: Indian Rupee eases from monthly highs after RBI's neutral hold

Indian Rupee is easing from its highest level in a month above the 95.00 level against the US Dollar on Wednesday, holding gains after the Reserve Bank of India (RBI) held the Repo Rate at 5.25%, as expected, maintaining a neutral stance amid still-modest inflation.

Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – BTC eyes breakout, ETH consolidates, XRP finds stability

Bitcoin, Ethereum and Ripple move toward the key technical levels on Wednesday, which could determine the next directional bias. BTC is near the 50-day Exponential Moving Average, ETH trades sideways while XRP is showing signs of stabilization.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.