Daily Forecast - 16 January 2014
Silver Spot XAGUSD
Silver Tuesday's price action was negative & should signal a sell off in to the end of the week. Yesterday we hit the target of 1995 to bottom at 1990 but below here today meets good support at 1985/80. This could hold the downside but below here risks a slide to 1962/57.
Immediate resistance at 2028/32 could hold a move higher but above here use 2045/50 as a selling opportunity with stops above 2060.
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Editors’ Picks
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GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.