Thread: Adamant Finance - Daily Analysis

Technical Outlook July 21, 2016


EURUSD




EUR/USD did an upside correction yesterday according to our expectations. The trades that we recommended failed to open as the price did not reach the acceptable levels for short positions. Today is a very important day for EUR/USD as the ECB meeting takes place. There is a probability that further stimulation measure will be accepted. In this case, EUR/USD will be under pressure.

There is the downtrend on the Weekly chart as the price is below the MA55. EUR/USD is going to make another downside momentum. This may happen during the week.

As for the Hourly chart, there is the downtrend here as well as the MA-channel goes downwards and the price is below the MA55. You may try short positions from the 1,1040/50 area


GBPUSD




GBP/USD did some growth yesterday because of strong Labor market data in GB. Short positions, that we have recommended, were unsuccessful. However, you had an opportunity to close them at breakeven. Today we advise to pay attention to the Retail Sales data. If this statistics is weak, the downside tendency may resume.

There is the downtrend on the Weekly chart as the price is below the MA55. AN upside correction is probably done.

As for the Hourly chart, there is the downtrend here as well as the MA-channel goes downwards although the price is still above the MA55. You may try short orders from the trendline on the Hourly chart (1,3220/40 area). We recommend placing stops above the trendline.


AUDUSD




AUD/USD continued to go down towards the trendline on the Hourly chart. Hort positions failed to open as the price did not get the orders. Today we expect some “fight” near the trendline. AUD/USD may break it through or not. Technical indicators show the probability of breakthrough on the Hourly chart.

There is still the uptrend on the Weekly chart as the price is above the MA55. AUD/USD declined and closed the last week below the trendline in the final minutes of Friday. The downside tendency may continue this week.

As for the Hourly chart, there is the downtrend here as the MA-channel looks downwards and the price is below the MA55. You may try sort trades from the MA55.


USDCHF




USD/CHF tried to reach the upper trendline on the Hourly chart. Those attempts failed. There was no opportunity to enter the market as the price did not decline to the MA55. The price is currently close to the lower trendline. We expect a rebound from it.

There is the uptrend on the Weekly chart as the price is above the MA55. The uptrend is still weak and requires confirmation.

As for the Hourly chart, there is the uptrend here as the MA-channel looks upwards and the price is above the MA55. You may try long trades from the trendline, placing stops below this line.


Official site: http://www.adamantfinance.com




Gold/Silver Technical Outlook July 21, 2016


GOLD (XAUUSD)




XAU/USD left the horizontal range. The trade was done at 1323,00 and you may move your stops at breakeven level. You may also try to fix some of your trades and hold short positions until 1307,00. We expect some significant rebound here.

There is the uptrend on the Weekly chart as the price is above the MA55. We have seen a fake breakthrough of the descending trendline. The downside tendency may resume.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. It is too late to open short trades today. You may hold your yesterday’s positions if you had an opportunity to enter.


SILVER (XAGUSD)




We expected, that Silver may breakthrough the upper side of the triangle. However, it failed to do this and we advise to stay of the market for the moment. The situation is clear at present.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD growth to the resistance at 25,00 is postponed.

As for the Hourly chart, there is the downtrend here as the MA-channel goes downwards and the price is below the MA55. We advise to avoid short trades at the moment as the price is close to the lower side of the MA-channel.


Official site: http://www.adamantfinance.com

Technical Outlook July 22, 2016


EURUSD




There were sharp fluctuations in EUR/USD during yesterday’s ECB meetings and Mario Draghi press-conference. European Central Bank Committee decided to leave current monetary policy unchanged as we expected. However, ECB members plan to increase stimulation volume on September. You could open short trades from 1,1040 according to our recommendations. You had some opportunities to protect your positions as well. Today we advise to pay attention to Eurozone and US PMIs.

There is the downtrend on the Weekly chart as the price is below the MA55. EUR/USD prepares to make another downside momentum. We expect this to happen this week.

As for the Hourly chart, we have no trend here as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading EUR/USD at the moment.


GBPUSD




GBP/USD fluctuated in different directions and went down during European session due to weak Retail Sales data in the United Kingdom. You had an opportunity to open short trades from the trendline on the Hourly chart. GBP/USD made a 700 points’ downside momentum. We can state some changes in trend on the Hourly chart. There is a breakthrough of the descending trendline. Today we advise to pay attention to UK and US PMIs.

There is the downtrend on the Weekly chart as the price is below the MA55. We think, that the upside correction is done already.

As for the Hourly chart, we can state the uptrend here as the MA-channel goes upwards and the price is above the MA55. You may try long positions. However, it is better to wait until the breakthrough is confirmed.


AUDUSD




AUD/USD made no attempts to cross the trendline on the Hourly chart yesterday. You could open short trades from the MA55 with stops at 250 points from the price. Those trades give some results today in the morning. It is time to protect your positions. Today we expect the attempts to break through the trendline.

There is the uptrend on the Weekly chart as the price is above the MA55. AUD/USD declined in the final minutes of Friday and closed last week below the trendline. The Currency pair may resume the downtrend.

AS for the Hourly chart, we may see here the downtrend as the MA-channel looks downwards and the price is below the MA55. We advise to hold short trades from the MA55 aiming 0,7435 and 0,7405.


USDCHF




USD/CHF rebounded from the trendline on the Hourly chart. If you entered long trades, you could take about 400 points as profit. You could also protect your positions before the ECB meeting results. Today we expect a breakthrough of the trendline on the Hourly chart. However, there is still no confirmation.

We can see the uptrend on the Weekly chart as the price is above the MA55. This upside tendency is still weak and requires confirmation.

As for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price isclose to the MA55. It is better to do nothing today.


Official site: http://www.adamantfinance.com




Gold/Silver Technical Outlook July 22, 2016


GOLD (XAUUSD)




Gold failed to decline towards expected levels and all short trades closed at breakeven. However, we had an opportunity to take some profit. Investors fix short trades after ECB declared its readiness to act on September. Those events influenced price growth. The situation is still unclear and we advise to avoid trading today.

There is the uptrend on the Weekly chart as the price is above the MA55. XAU/USD failed to break through the descending trendline and may continue to decline.

We may state no trend on the Hourly chart as the MA-channel is horizontal and the price is above the MA55. We advise to stay off the market today.


SILVER (XAGUSD)




Current situation with XAG/USD is the same. This pair returned all lost positions. We expect the price to resume growth at the moment. However, the situation is still unclear.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD growth to 25,00 is still postponed.

AS for the Hourly chart, there is the downtrend here as the MA-channel goes downwards although the price is above the MA55. We advise to avoid trading today.


Official site: http://www.adamantfinance.com

Markets100

Technical Outlook July 25, 2016


EURUSD

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EUR/USD reached month lows on another set of strong US data. The probability of interest rates growth becomes higher with every new positive economic statistics. Eurozone PMIs showed minimum impact from Brexit to Eurozone economics. However, we did not seen any growth in EUR/USD. Presently, investors pay attention to forthcoming FOMC meetings which takes place this week. The results of this event will influence EUR/USD fluctuations.

There is the downtrend on the Weekly chart as the price is below the MA55. EUR/USD may continue to decline this week if FOMC forecasts interest rates growth this year.

There is the downtrend on the Hourly chart as well as the MA-channel goes downwards and the price is below the MA55. It better to avoid trading EUR/USD at the moment as the price is far from the MA55.



GBPUSD





GBP/USD did not confirm the breakthrough of the trendline in a sharp manner. There are two main reasons for this: first, those attempts were made during Asian session; second, there was no correction to the broken trendline. GBP/USD broke through this trendline again in the opposite direction. UK PMI data, published on Friday, was negative.

There is the downtrend on the Weekly chart as the price is below the MA55. We expect the downside tendency to resume this week.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. Today GBP/USD may trade within a range.



AUDUSD





AUD/USD slides down and breaks through the trendline. The price is below the trendline at the moment and is close to the MA55. This is a good opportunity to open short trades with low risks.

There is the uptrend on the Weekly chart as the price is above the MA55. AUD/USD declined and we expect that this downside tendency may continue this week.

There is the downtrend on the Hourly chart as the MA-channel looks downwards and the price is close to the MA55. We advise to hold short trades from the MA55. Targets are at 0.7435 and 0.7405. Those who failed to open short trades from the MA55, may try to do it at the moment, placing stop at 0,7490.



USDCHF





USD/CHF broke through the trendline, although it was not legible as the Currency pair is in flat at the moment. We advise to change the position of the trendline according to new market conditions. We advise to skip such breakthrough as there is no clear trend on the chart.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect this tendency to continue this week.

As for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price is close to the MA55. It is better to avoid trading today.



Official website: www.adamantfinance.com




Gold/Silver Technical Outlook July 25, 2016


GOLD (XAUUSD)





XAU/USD declined again and is trading within the triangle at the moment. There is a probability to break through the lower side of the triangle. We expect the price to continue trading withing this range during the next couple of days (until Wednesday, when the results of FOMC meetings are published). Investors are bullish as they think interest rates in the USA may be increased this year. At the moment about 50% of market participants expect FOMC to raise rates in December (or before the last month of the year).

There is the uptrend on the Weekly chart as the price is above the MA55. FOMC decision and forecasts may significantly influence quotes fluctuations.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. We advise to avoid trading today as there is no clear tendency on the chart.



SILVER (XAGUSD)





Silver price is also within a range and may stay here for the next couple of days before the FOMC meetings. Further fluctuations depend on results of this event.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD may decline this week.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. We advise to avoid trading today as we expect no trend during the next 24 hours.



Official website: www.adamantfinance.com

Technical Outlook July 26, 2016


EURUSD





EUR/USD “is waiting” for the results of the FOMC meetings which are to be published tomorrow. The price is in a correction. We think that there is probability of range trading before the event. Yesterday’s positive Ifo data helped EUR/USD to gain some positions. US data that is to be published today, will probably have almost no influence on fluctuations.

There is the downtrend on the Weekly chart as the price is below the MA55. EUR/USD may continue to slide down this week if FOMC members forecast a probability of rates growth within this year.

As for the Hourly chart, there is the downtrend here as well as the MA-channel goes downwards and the price is below the MA55. EUR/USD is close to the MA55 which is favorable for short trades. However, the upcoming events may limit fluctuations this week.



GBPUSD





GBP/USD was in a tight range on Monday awaiting for the results of the FOMC meetings. Today we expect this dynamics to continue. There is a triangle on the chart. We think that GBP/USD’s fluctuations are to develop within the sides of this pattern.

There is the downtrend on the Weekly chart as the price is below the MA55. We expect GBP/USD to continue its downside tendency this week.

As for the Hourly chart, there is the downtrend here as well as the MA-channel goes downwards and the price is below the MA55. GBP/USD may continue to trade within the triangle that we have mentioned above.



AUDUSD





AUD/USD continues its ascending correction along the trendline. All short positions were unsuccessful as the correction went on. However, those trades were with low risks. Those fluctuations are influenced by the upcoming FOMC meetings.

There is the uptrend on the Weekly chart as the price is above the MA55. AUD/USD declined and we expect it to go down further this week.

As for the Hourly chart, there is the downtrend here as the MA-channel looks downwards and the price is close to the MA55. We advise to avoid trading at the moment.



USDCHF





USD/CHF continues to trade within a tight range. Current tendency seems to be change in the nearest future. However, USD/CHF may decline, if FOMC members decide to postpone rates growth.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect the uptrend to continue this week.

As for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading today.



Official website: www.adamantfinance.com




Gold/Silver Technical Outlook July 26, 2016


GOLD (XAUUSD)





XAU/USD continues to trade within a range. There is a probability of a downside breakthrough. However, FOMC members may avoid talking about the possibility of rates growth. In this case, Gold is to restore. Situation may develop in any way and it is very difficult to predict the results of tomorrow’s meetings.

There is the uptrend on the Weekly chart as the price is above the MA55. XAU/USD continues to decline and this week’s fluctuations will depend on the FOMC members’ decisions and hints.

There is no trend on the Hourly chart aws the MA-channel is horizontal and the price is below the MA55. We advise to avoid trading today as we expect no tendency until FOMC meetings.



SILVER (XAGUSD)





XAG/USD indicated its range yesterday. We think that the pair will trade within for a couple of days. Further trend will be determined after the FOMC meetings, which is to take place tomorrow. We advise to avoid trading at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect XAG/USd to decline this week.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading today as we expect no tendency until the results of the FOMC meetings are published.



Official website: www.adamantfinance.com

Technical Outlook July 27, 2016


EURUSD





EUR/USD fluctuated in both directions yesterday and there were almost no changes by the end of the session. The market now is waiting for the main event of the week (FOMC meetings), which results are to be published today. We expect EUR/USD to trade within a limited range until this moment.

There is the downtrend on the Weekly as the price is below the MA55. EUR/USD may continue to decline this week if FOMC members make some hints on the Interest rates rise this year.

AS for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price is close to the MA55. It is better to avoid trading today.



GBPUSD





GBP/USD continues to trade within a tight range waiting for the results of FOMC members decision. We expected such a dynamics. Today we expect EUR/USD to fluctuate within a triangle on the Hourly chart before the results of the FOMC meetings are published.

There is the downtrend on the Weekly chart as the price is below the MA55. WE expect the currency pair to continue downside tendency this week.

As for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price is close to the MA55. We expect GBP/USD to fluctuate within a tight range today. However, prepare for a probable rally this after the results of FOMC meetings are published.



AUDUSD





There were almost no changes in AUD/USD yesterday as the ascending correction went on. Australian CPI data was published today in the morning. You may see the impact of this statistics on the chart. Figures were close to the forecast. Today we advise to pay attention to FOMC decisions and forecasts.

There is the uptrend on the Weekly chart as the price is above the MA55. AUD/USD declined and there is a probability that the downtrend may continue this week.

As for the Hourly chart, there is the uptrend here as the MA-channel looks upwards and the price is above the MA55. It is better to stay off the market today.



USDCHF





We have drawn another big triangle as USD/CHF is trading within. The currency pair made significant growth yesterday, marking new highs from June, 1st. There was no change in trend yesterday as the market waits for the FOMC meetings today. The situation may develop another way after the end of the event. We recommend staying off the market at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect the ascending tendency to continue this week.

As for the Hourly chart, there is the uptrend here as well as the MA-channel looks upwards and the price is above the MA55. It is better to avoid trading today.



Official website: www.adamantfinance.com




Gold/Silver Technical Outlook July 27, 2016


GOLD (XAUUSD)





XAU/USD continues to trade within a range according to our expectations. Lack of dynamics is due to the fact that the market waits for the results of the FOMC meeting today. We do not give any recommendations as situation may develop in any way.

There is the uptrend on the Weekly chart as the price is above the MA55. XAU/USD decline goes on and everything depends on FOMC members decisions this week.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading today as we expect no significant fluctuations until the end of the FOMC meetings.



SILVER (XAGUSD)





Silver continues to trade within a tight range awaiting for the results of the FOMC meetings. We will be able to give any further recommendations after the end of the event. It is better to avoid trading today as sharp fluctuations are probable.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect XAG/USD to decline this week.

As for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price is close to the MA55. It is better to avoid trading today as we expect no significant fluctuations before the end of the FOMC meetings.



Official website: www.adamantfinance.com

Technical Outlook July 28, 2016



EURUSD





EUR/USD had a considerable and sharp growth after the results of the FOMC meetings were published. FED members noticed that market conditions and US economic outlook improved. Interest rates may grow this year. However investors expected more obvious hints from the FOMC members after a sequence of positive US data. Monetary policy tightening expectations for the next FOMC meetings decreased. There is an opportunity to try long trades.

The downtrend is still developing on the Weekly chart as the price is below the MA55. FOMC hints on the probable interest rates rise were vague. We expect “bulls” to take advantage of the situation.

The situation changed on the Hourly chart as we can see the uptrend here. The MA-channel goes upwards and the price is above the MA55. We advise to open long trades in case if the price goes back to the MA55.



GBPUSD





The triangle was broken upwards and there are some opportunities to trade long. FOMC members made some unclear hints on the probability of monetary policy tightening this years. In addition, British GDP growth was better than expected. There is a probability of this growth to continue for some time.

The downtrend is still in progress on the Weekly chart as the price is below the MA55. WE expect some growth this week because of the results of the FOMC meetings.

As for the Hourly chart, there is the uptrend here as the MA-channel goes upwards and the price is above the MA55. We advise to open long trades from the MA55 area or broken through trendline area. Stops may be placed below the MA55.



AUDUSD





AUD/USD did significant fluctuations during yesterday. However, it could restore all positions after the FOMC meetings and even had some growth. The currency pair continues its moderate growth this morning. We expect the upside tendency to go on.

The uptrend on the Weekly chart is still in progress as the price is above the MA55. The FOMC meetings may have a considerable impact on AUD/USD fluctuations and we expect the rally to continue.

The MA-channel looks upwards indicating the uptrend on the Hourly chart. In addition, the price is above the MA55. We recommend opening long trades from the MA55 if AUD/USD returns back to it.



USDCHF





We have noticed yesterday that the situation may considerably change after the FOMC meetings. USD/CHF decreased significantly and tries to break through the trendline today in the morning on the Hourly chart. This happens during Asian session. However, things may change during the day.

The uptrend on the Weekly chart is still in progress as the price is above the MA55. USD/CHF may end this week in the negative area because of the results of the FOMC meetings.

No trend is seeing on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. It is better to avoid trading before there is no clear direction.



Official website: www.adamantfinance.com




Gold/Silver Technical Outlook July 28, 2016



GOLD (XAUUSD)





XAU/USD had a momentum before the end of the FOMC meetings on a weak US data. There is a probability that a positive trend for US data is done and the pressure over USD may growth in the nearest future. Right after the FOMC meetings Gold resumed its growth due to vague comments of FED members. There are no changes in the current situation as the hints on the probable monetary policy changes were unclear. We recommend opening long trades on Gold.

The uptrend is still progressing on the Weekly chart as the price is above the MA55. We expect some growth of XAU/USD after FOMC decisions.

This upside tendency is relevant for the Hourly chart as well. The MA-channel goes upwards and the price is above the MA55. You may try long trades. However, the price is close to the upper side of the MA-channel increasing risks of losses.



SILVER (XAGUSD)





Silver had a considerable growth on weak US data and the results of the FOMC meetings. We advise to open long trades after downside corrections.

The uptrend is still progressing on the Weekly chart as the price is above the MA55. We expect some growth after yesterday’s event.

The upside tendency is relevant for the Hourly chart as well as the MA-channel goes upwards and the price is above the MA55. You may try long trades. However, the price is close to the upper side of the MA-channel, increasing risks of losses.



Official website: www.adamantfinance.com

Technical Outlook July 29, 2016



EURUSD





EUR/USD is trading close to the upper side of the MA-channel offering no opportunities to open trades. However, the price may decline to the MA55 balance line today. You may try to “catch” it there. EUR/USD may even breakthrough the MA55 and go below it. In this case there is a probability of upside tendency. Today we recommend paying attention to the Eurozone and US data. The volatility may increase during the day.

The downtrend is still progressing on the Weekly chart as the price is below the MA55. FOMC members made unclear hints on the probable monetary policy tightening this year. We expect “bulls” to take advantage of the situation.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. We advise to open long trades from the MA55 if the price goes back to it.



GBPUSD





GBP/USD went to the MA55 area and the broken through trendline on the Hourly chart yesterday. There were some opportunities to enter long trades. You could buy from 1,31400. The price passed about 700 points after a short correction. Today we advise to pay attention to the US data.

The downtrend is still progressing on the Weekly chart as the price is below the MA55. We expect some growth of GBP/USD after the results of the FOMC meetings.

The trend has already changed its direction on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may hold your long trades or reenter the market from the MA55.



AUDUSD





AUD/USD is trading in a wide range. However, if you tried to trade long, you could have some profit (about 400 points) as the price went up after some night correction. Today we recommend paying attention to the US data.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect some price growth after the results of FOMC meetings.

There is the uptrend on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. We advise to enter long trades from the MA55 if the price goes back to it.



USDCHF





USD/CHF confirmed a breakthrough of the trendline, although there was no opportunity to enter the market. The price is still too far from the balance line. Today the situation is still unclear as the price is close to the lower side of the MA-channel.

There is the uptrend on the Weekly chart as the price is above the MA55. USD/CHF may end this week in the negative area after the results of the FOMC meetings.

The downtrend is already in progress on the Hourly chart as the MA-channel looks downwards and the price is below the MA55. It is better to avoid trading today.



Official website: http://www.adamantfinance.com




Gold/Silver Technical Outlook July 29, 2016


GOLD (XAUUSD)





As mentioned yesterday, finding rates at the upper boundary of MA-channel is very risky to make purchases. Today, there are two possible, is a price reduction to МА55 or reduction in the price of gold trend line on the hourly chart. From МА55 to the trend line of about$ 10 and put a stop for intraday trading is unacceptable.

On the weekly chart the uptrend, as the price is above МА55. After the fed's decision, you can expect some growth.

On the hourly chart the uptrend, as MA-the channel is moving up and price is above МА55. You can consider shopping from the trend line on the hourly chart.



SILVER (XAGUSD)





The silver situation is similar to yesterday, perform the purchase was risky. Today, silver is also two options from МА55 either from the first trend line on the hourly chart. Prefer the trend line.

On the weekly chart the uptrend, as the price is above МА55. After the fed's decision, you can expect some growth.

On the hourly chart the uptrend, as MA-the channel is moving up and price is above МА55. You can consider buying from the first trend line on the hourly chart.



Official website: http://www.adamantfinance.com/

Technical Outlook August 1, 2016



EURUSD





EUR/USD continued its growth on Friday without reaching the MA55 balance line. There was almost no opportunity to enter long trades. USD lost its positions after a weak Prelim GDP data (2nd quarter). This data will surely have a significant impact on the future FOMC members decisions. USD is under pressure at the moment. Today we advise to pay attention to Eurozone and US manufacturing PMIs.

There is no trend on the Weekly chart as the price is fluctuating around the MA55. We have seen a considerable growth last week and the currency pair may have positive dynamics during next five days.

The uptrend is still in progress on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. It is better to avoid trading at the moment as the price is close to the upper side of the MA-channel.



GBPUSD





GBP/USD resumed growth offering an opportunity to open long trades from the MA55 for those who did not do it previously. US data had a considerable impact on GBP/USD on Friday which resulted in a 1300 points rally from the MA55. Today we advise to pay attention to UK and US manufacturing PMI data.

There is the downtrend on the Weekly chart as the price is below the MA55. We expect some attempts to grow after negative US Prelim GDP data, published on Friday.

The uptrend is established on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may try long trades from the MA55.



AUDUSD





AUD/USD traded in both direction in the first half of last Friday. However, it rallied during American session because of the negative US Prelim GDP Q/Q data. There was an opportunity to enter long trades from the MA55. The potential of those trades was about 1000 points. In addition, today’s strong Australian data offers some more opportunities for AUD/USD to resume growth.

There is the uptrend on the Weekly chart as the price is above the MA55. The currency pair crossed the trendline and closed last week above it. AUD/USD may resume its growth this week.

There is the uptrend on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. It is better to avoid trading at the moment as the price is close to the upper side of the MA-channel.



USDCHF





USD/CHF is in downtrend at the moment and the tendency is progressing. There is no opportunity to open trades as the price is close to the lower side of the MA-channel. Today USD/CHF may restore and gain back some positions.

The downtrend is in progress on the Weekly chart as the price is below the MA55. USD is under pressure and USD/CHF may continue to decline during the current week.

There is the downtrend on the Hourly chart as the MA-channel looks downwards and the price is below the MA55. It is better to avoid trading today.



Official website: http://www.adamantfinance.com




Gold/Silver Technical Outlook August 1 , 2016



GOLD (XAUUSD)





We gave a recommendation to buy from the trendline on Friday. However, the price went back from the MA55. There was no opportunity to enter a trade. Weak US Prelim GDP data may influence further XAU/USD growth as the probability of interest rates growth this year decreased.

There is the uptrend on the Weekly chart as the price is above the MA55. USD is under pressure right now and gold may continue to grow this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may try long trades from the MA55 area.



SILVER (XAGUSD)





Silver is in the same situation. We gave recommendations to open long trades from the trendline. The price did not reach that area. XAG/USD established new highs today in the morning. The growth may resume and we advise to open long trade only.

There is the uptrend on the Weekly chart as the price is above the MA55. USD is under the pressure now and we consider further growth of XAG/USD.

The uptrend is in progress on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may try long trades from the MA55 area.



Official website: http://www.adamantfinance.com/

Technical Outlook August 2, 2016



EURUSD





EUR/USD traded in a tight range yesterday approaching to the MA55 balance line. US PMI data was worse than expected. As for EU statistics, it was better than forecasted. We expect EUR/USD to grow during the day.

Neutral trend is in progress on the Weekly chart as the price is fluctuating around the MA55. EUR/USD closed last week with a huge growth and we expect this positive dynamics to continue.

AS for the Hourly chart, there is the uptrend here as the MA-channel goes upwards and the price is above the MA55. We advise to open long trades from the MA55 area.



GBPUSD





GBP/USD broke through the trendline. Our long trades recommendations were cancelled. If you opened any long positions, it is better to close them now. Upside potential is too weak as UK data was worse than expected. Today we advise to pay attention to the UK construction sector data. This stats may limit the upside tendency.

The downtrend is still actual for the Weekly chart as the price is below the MA55. However, GBP/USD may do some growth attempts after weak US Labor market data, published on Friday.

AS for the Hourly chart, there is the uptrend here as the MA-channel looks upwards and the price is close to the MA55. It is better to avoid trading at the moment.



AUDUSD





AUD/USD went down to the balance line on the eve of the Reserve Bank of Australia meetings. According to the forecasts, RBA may cut rates. AUD/USD may have a considerable decline if it happens. Otherwise, the currency pair may resume the uptrend.

The upside tendency is still in progress on the Weekly chart as the price is above the MA55. AUD/USD crossed the trendline and close last week above it. We expect it to grow this week.

The Hourly chart shows the uptrend as the MA-chanel looks upwards although the price is below the MA55. You may try to open long trades from the MA55 area if RBA leaves rates unchanged.



USDCHF





USD/CHF was in tight range yesterday and restored partially. Today we advise to pay attention to Swiss PMI and Retail Sales data. You may try open short trades from the MA55.

The downtrend is in progress on the Weekly chart as the price is below the MA55. USD was under the pressure in the end of the last week and the downtrend may continue.

There is the downtrend on the Hourly chart as well as the MA-channel looks downwards and the price is below the MA55. We advise to open short trades from the MA55.



Official website: http://www.adamantfinance.com




Gold/Silver Technical Outlook August 2, 2016



GOLD (XAUUSD)





Gold restored to the MA55 balance line offering some opportunities to open long trades. US data was disappointing again and this fact increases chances that metals will grow in the nearest future. Today US data is also important and my influence XAU/USD fluctuations. We also expect some growth during European session.

The uptrend on the Weekly chart is still in progress as the price is above the MA55. Some factors exert pressure on USD. We expect further growth of metals this week.

As for the Hourly chart, there is the uptrend here as well as the MA-channel goes upwards and the price is above the MA55. You may try long trades from the MA55.



SILVER (XAGUSD)





Silver prepares for another upside momentum. We see no factors to stop this rally. The MA55 is in the right place for long trades on the Hourly chart. You may try to open long trades at the moment.

The uptrend on the Weekly chart is still in progress as the price is above the MA55. Some factors exert pressure on USD and we expect metals growth to continue.

AS for the Hourly chart, there is the uptrend here as the MA-channel goes upwards and the price is above the MA55. You may try long trades from the MA55 area.



Official website: http://www.adamantfinance.com/