The spot gold price continues to remain mildly bearish with yesterday’s relatively wide spread candle breaking below the 9 and 14 day moving averages above but finding support from the 40 day moving average below.  However, as outlined in previous gold market commentaries owing to the tight bunching of the shorter term moving averages their [...]

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Last week ended with quietly as the non farm payroll data failed to inject very little volatility into the currency markets as FED governors reiterated that low interest rates would probably be around for a very long time.  This lack of activity continued yesterday as forex markets continued to trade against the backdrop of very [...]

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As with the spot gold price silver also appears to have reached a pause point following its recent rally with the last few days finding sustained resistance at the .50 per ounce level.  The technical difference between the gold and silver charts is that silver prices remain firmly sandwiched between the moving averages and in addition have [...]

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The usd to cad forex pair continued to lurch higher again yesterday, closing with a narrow spread up candle with a deep lower wick which once again seemed to find some support from the 9 day moving average, a positive signal in the short term that the recent rally looks set to continue. With the [...]

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Yesterday’s candle on the yen to dollar daily chart ended the trading session as a doji with a narrow spread and wicks to both top and bottom, suggesting an indecisive market that is now looking for some direction in the 92 to 93 price region.  The rally of the last few weeks, which was triggered [...]

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Friday’s price action for the pounds to usd currency pair followed the same pattern as for Wednesday and Thursday, ending the trading session with a doji cross candle signifying an indecisive market which clearly lacks any firm direction at present.  Whilst the price action is frustrating for longer term trend traders, it is interesting to [...]

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