Gold and Silver Spot

Gold key support at 1595/90 today. Longs need stops below 1580.

Silver saw strong resistance at 1445/55 work in the end as we reversed from 1470.

 

Daily Analysis

Gold key support at 1595/90 today. Longs need stops below 1580. A break lower is a short term sell signal targeting 1575 & support at 1565/62.

Longs at 1595/90 target 1610/15 & 1625/35. On a break higher look for 1645/48. Above 1650 targets 1655 & 1670, perhaps as far as 1680 this week.

Silver minor support at 1399/95 then a buying opportunity at 1355/50, with stops below 1335.

Strong resistance at 1445/55 but above 1470 targets 1500/10. If we continue higher look for 1535/40 then 1560/65.

 

Trends

Weekly outlook is positive.

Daily outlook is neutral.

Short Term outlook is positive.

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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex Analysis

Editors’ Picks

EUR/USD extends slump after NFP shows massive job loss

EUR/USD is trading below 1.08, down on the day. The Non-Farm Payrolls report has shown a loss of 701,000 jobs, worse than expected. The ISM Non-Manufacturing PMI surprised to the upside with 52.5 points. 

EUR/USD News

GBP/USD drops below 1.23 amid sour mood, after UK data

GBP/USD has dropped below 1.23 as the market mood sours. Final UK Services PMI dropped to 34.5 points, worse than expected.  

GBP/USD News

NFP Quick Analysis: 701K jobs lost only be tip of the iceberg, why King Dollar is ready for coronation

The US lost 701,000 jobs in March, the worst in 11 years. The Non-Farm Payrolls figures are lagging the fast-moving events. Wage growth is also skewed and should be ignored. The safe-haven dollar has room to rise. 

Read more

WTI trades in three-week’s highs near $26.50 a barrel

WTI is jumping from multi-year lows following the US President Trump’s tweet of yesterday (Thursday) suggesting a Saudi-Russian deal was on the pipeline.

Oil News

Gold remains confined in a range, moves little post-NFP

Gold extended its sideways consolidative price action around the $1615 region and had a rather muted reaction to the US monthly employment details

Gold News

Forex Majors

Cryptocurrencies

Signatures