Daily analysis of Gold for March 28, 2017

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Overview

Gold price fluctuates near the intraday bullish channel's support keeping its stability above this level until now. Notice that stochastic begins to overlap positively on the 4-hour time frame. That forms positive motive that we wait to assist to push the price to resume the bullish trend for the rest of the day especially that the EMA50 keeps supporting the price from below. Therefore, we will keep preferring the bullish trend in the upcoming sessions unless breaking 1,250.00 level and holding below it, where breaking this level will push the price to test 1,231.13 level again before it returns to rise again, while the positive targets begin at 1,263.17 and extend to 1,300.00. The expected trading range for today is between 1,245.00 support and 1,270.00 resistance.

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Daily analysis of Silver for March 28, 2017

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Overview

Silver price managed to surpass 18.00 barrier and settled above it, which supports the continuation of the bullish trend scenario on the intraday and short-term basis, waiting for testing 18.30 level initially. That points that breaching this level will push the price to visit the bullish channel's resistance that located at 18.90. The price might witness some temporary sideways fluctuation affected by stochastic negativity, but in general, we keep preferring the bullish trend unless breaking 17.43 then 17.05 levels and holding below it. The expected trading range for today is between 17.80 support and 18.30 resistance.

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NZD/USD testing major resistance, remain bearish

We remain bearish below 0.7065 resistance (Fibonacci retracement, Fibonacci extension) where we expect a drop to at least 0.6968 support (Fibonacci retracement, recent swing low support).

Stochastic (21,5,3) sees major resistance at 95% where we expect a similar and corresponding drop from.

Sell below 0.7071. Stop loss is at 0.7113. Take profit is at 0.6968.

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AUD/JPY above major support, prepare to buy

The price is right above major support at 83.77 (Fibonacci retracement, horizontal swing low support) where we expect a bounce from to at least 85.22 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing strong support above the 7% level and also displays bullish divergence versus the price.

Buy above 83.77. Stop loss is at 82.73. Take profit is at 85.22.

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EUR/USD fundamental analysis for March 28, 2017

EUR/USD has taken out the resistance 1.08 resistance area and today retested the resistance as support and heading towards 1.0970. Today, it was a very important day for USD as Positive CB Consumer Confidence report was published at 125.6 which was forecasted to be at 113.9, US Goods Trade Balance was also positive at -64.8B which was expected to be at -66.6B and FOMC Member Kaplan is going have a speech today regarding interest rates and monetary policy, which is expected to have a major impact on USD based pairs. On the other hand, we did not have any EUR events today to affect EUR, but tomorrow we have EUR German Import Prices report which previously was at 0.9% and forecasted to be at 0.4%.

Now let us look at the technical view, the week started with a gap which is still unfulfilled by the price with any rejection. Currently the price has broken above 1.08 resistance and retested as support to climb up higher. It is expected that as the price remains above 1.08, the price will hit the 1.0970 near-term resistance before hitting the spike of 1.13.

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Technical analysis of USDX for March 28, 2017

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Technical analysis of USDX for March 28, 2017