Gold Trend May 1, 2014 |
| Posted: 01 May 2014 05:15 AM PDT Follow The Raw Follow The Raw & Let Your Dreams Come True I_ Open Real Account ( Standard ) & Get Free €50 ( No Deposit Bonus ) --> http://tinyurl.com/qh8mxc7 This exclusive offer is available between 25/03/2014 and 25/06/2014 Join us now What You Waiting For?  Gold Trend May 1, 2014 Samer Al ReifaeLong Term ~ Neutral - Need a monthly close above 1800 to confirm the bull market final phase underway. Medium Term ~ Neutral – Need a close above 1292 in April to maintain neutral trend. A close below 1272 bearish. Intermediate Term ~ Neutral– 1265-1272 downside target met, now need close above 1312 for neutral reading and 1322 for bullish. Short Term ~ Neutral– The next cycle turn is due April 29th (plus or minus 72 hours) this week. close below 1272 bearish. Need close above 1312 for bullish reading. Initial Resistance 1297-1307 2nd tier 1312-1317 Initial Support 1277-1282 and 2nd tier 1263-1272 The last update listed resistance at 1303-1307 and the high was 1302. Support was listed at 1282-1293 and the low was 1286. Chinese Currency Collapses To 18-Month Lows; Nears PBOC Limits Submitted by Tyler Durden on 04/30/2014 - 22:32 After widening its tolerance for real world volatility mid-March, the PBOC has faced a daily battering of USD buyers and CNY sellers which have driven the Chinese currency to its weakest level in over 18 months. However, things are starting to become problematic... while call buying and hedging is exploding - as carry traders and local specs rush to cover exposures, Bloomberg notes that Morgan Stanley fears as the yuan approaches the lower end of PBOC's permissible daily trading range, anticipated intervention to defend band could put other currencies under selling pressure. The last time - Summer 2012 - that the PBOC defended its currency, EUR came under selling pressure but as Morgan Stanley notes, "In the very unlikely case" of PBOC not defending band, FX volatility would surge globally with implications going beyond RMB as markets would assume China's economic problems might be significant... On the heels of disappointing March data in China for Services and Manufacturing, China's "official" manufacturing PMI saw its lowest 'April' print on record (typically a period of renaissance post-New Year data snafus) missing expectations for the first time in 2014 and just marginally above last month's data (50.4, exp. 50.5, prev. 50.3) China is still in Schrodinger-land with "official' data (biased towards larger SOEs) in very modest expansion and Markit (weighted towards smaller - more realistic - entities) in considerable contraction. That China disappointment follows earlier data which saw Aussie PMI collapsed over 3 points in April to its lowest in 9 months with the deterioration broad-based across the key sub-components. As Goldman notes, production is now at its weakest in a year, employment remains in contraction and, most worryingly, new orders printed their largest contraction in 13 months. This is the 6th month in a row of Aussie manufacturing contraction. Gold short term Support is 1262-1272 and 1277-1281 and resistance is 1295-1306. The white lines are the support and resistance points as the downtrend and uptrend converge. It may take one more day with NFP on Friday.  support5002@vantagefx.com  Get the newly designed trading tools package that can enhance your trading and assist you in achieving your trading goals. Maximize returns and discover new trading opportunities with this wide range of seriously advanced tools. What is the SmartTrader Tools Package? 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Welcome to my blog where you can learn how to trade the Forex Market for free.The material is all created by myself and not copied from anywhere. There is a lot yet to come since there is a lot that you need to learn, and there is a lot that I need to share with you! So please just be patient – it will be worth it.You can judge by yourself the quality of information that I will be giving you . So just go now and start learning! Below is a quick guide of how this website is structured, so you can find what you are looking for fast. Remember that I update the pages every day so either check back often. In this section you will find quite a long article of what Forex is all about. If you are a beginner, this is a must read. It explains in detail what is required to start trading, what you should do and not, typical traps to avoid as a beginner and a lot of valuable information which you as a beginner must digest and learn prior opening any Forex account with real money. In this section you will find your road map on how to become a real successful trader couple of months as from today. In this section you will know the 3 major areas – Technical Analysis, Fundamental Analysis and Trading Physcology. In this section you will find a gold mine of information about the technicalities of Forex. We will start from the very basics covering all the Forex jargon words which you will be hearing every day and we will be taking you up to the level required to finally learn to trade like a pro – technical analysis, also found in this section. In this section you will see the tips that will help you stay away from crap forex products, which unfortunately the Forex market is invaded with. This section has a very detailed article on how to avoid being scammed in this ruthless world of Forex. I will explain in detail six tips that you need to look for prior purchasing any products. Even though most of the time you may claim your money back,the time wasted is never returned. You should have used that time to learn how to trade! Read it!    YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. Do your own due diligence. No one knows tomorrow's price or circumstance. I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. I do not accept responsibility for being incorrect in my speculations on market trend. King Regards |
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