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GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5818. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.6400 area. On the downside, a clear break below the trend line will indicate that a cycle top has been formed and the rise from 1.5818 has completed, then the following downward movement could bring price back to 1.6000 zone.



Forex Signals

[B]BIAS[/B]: This should see a poke higher to 1.3285-00 before the final pullback

[B]Resistance[/B]:... 1.3252........ 1.3270... 1.3285-00... 1.3320
[B]Support[/B]:........ 1.3225-29... 1.3211... 1.3191........ 1.3170-75

[B]MAIN ANALYSIS[/B]: All looked possible for a while on Friday but the strong reversal from the 1.3157 level broke the structure and has seen a push through to 1.3252 so far and while 1.3225-00 area supports we should see a move into the 1.3285-00 area. This should cap for the drop I had expected on Friday. The initial drop should be back to around current areas (1.3235-45) and later extend losses.

[B]COUNTER ANALYSIS[/B]: Only a direct break above 1.3310-20 would suggest ...

Attached Files

• The Brief Daily Forecaster.pdf (86.7 KB, 66 次查看)

Last week gold slightly increased despite the expectations that the FOMC meeting will adversely affect bullion prices. Silver price slightly declined last week. The U.S GDP for Q1 2012 didn't reach expectations and may have been among the factors to pull up precious metals prices on Friday. This upcoming week there are many news items on the agenda that may affect gold and silver. The main events of the week will revolve the U.S manufacturing production, U.S non-farm payroll report and ECB rate decision and monetary policy.
The video link and complete analysis of Gold and Silver Weekly Outlook
Gold moderately rose during last week by 1.34%, while silver slightly declined on a weekly scale by 0.97%.
Furthermore, during last ...

Despite the high expectations for dramatic turns during last week's big news items including the FOMC meeting and U.S GDP for Q1 2012, eventually there were little movements in the forex and commodities. As we are entering a new month and a new week, let's examine the main events and news items that may affect the financial markets including: U.S ISM manufacturing PMI, ECB rate decision, EU M1, M3, China's manufacturing PMI, Canada's GDP, U.S non-farm payroll report and U.S. jobless claims. Here is an outlook for the week of April 30th to May 4th :

The complete Weekly Outlook Update on Trading NRG


Monday, April 30th
09:00 – Euro Area Monetary Development: This monthly report will present the ...