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We expect gold to hit 1200 target todayGreetings everybody, our medium-term scenario suggest reaching of 1238-1252 major resistance area.
In shorter-term, while gold stands above 1190 lows, it keeps chances on immediate upward continuation.
For detailed charts, patterns, explanations and targets follow our signature link.
US 10 year yield will rise to 3.35% within 2-3 monthsRecent NFP report was very positive and this confirms our long term view on US interest rates upside trend.
Now, there is 99.8% probability of Fed rate increase to 2.25% in September and 77.58% probability of rate increase to 2.5% in December.
Prob. has increased for ~10% due last NFP data.
It totally confirms the technical picture that we have.
BTC could show upside legAs market shows no response to important intraday targets and we still have uncompleted major 1.618 AB=CD extension (aka XOP by DiNapoli terms)
with creates an Agreement with major 5/8 Fib resistance - BTC has good chances to show another leg up to hit them.
Besides, we see signs of bullish dynamic pressure here, as MACD goes down, while BTC is forming higher lows.
EUR @ 1.1850Some patterns have been formed recently that give us more confidence to expect upward continuation.
We expect to see EUR around 1.1850. This should become a part of our daily long-term scenario.
One of the possible ways, how it could be done you could see on the chart.
details about longer view on EUR, precise levels, patterns and explanations you could find on our signature link below
XAU is forming the background for upside continuationGold stands in retracement and recently has completed our 1190 target. Now we're watching for definite signs to estimate reversal. Details are in our signature link below.
If reversal signs will not be formed, next support is 1180. But, as we expect rally on EUR (look for our today's FX idea) - Gold has good chances to support.
BTC 4900$ within few weeksGreetings, once market has completed our short-term upward retracement (See "sell" marking on the chart of our previous signal) and dropped by "222" Sell pattern, we could return to long-term perspective discussion. Particularly speaking, we expect BTC around 4900$ within few weeks.
Details and patterns are on our signature link.