https://uk.investing.com/economic-calendar/
GOLD - BUY - 1286.32
Gold seems to be in an accumulation phase at the moment with a ranging movement on the 1 Hr chart, I still expect us to see a big move in an upward direction very soon. We are seeing signs of a BAT formation which is a Bearish indication, but at present we are around the bottom of the second wing, so there is scope to move, and the pattern has not fully formed yet. We are hovering near the top of the consolidation area where we have been trapped since March on the daily chart, and we are still above the Symmetrical triangle. The Moving average is showing an uptrend on the daily and 4 Hourly charts, the 1 Hr chart however is showing sideways movement, but the 8hr MA has just crossed the 24 Hr MA in an upward move, suggesting that is our direction for the day.
SILVER - BUY - 170.30
Silver is hovering just above the 169.08 Support Level. We broke above this level on 10th August 2017, before dropping back below briefly on the 15th and going back above the following day. We now seem to be bouncing off the support level, and I feel it is just a matter of days before Silver breaks out to the high side. As per Gold, We have also alsoformed a Symmetrical Triangle on the hourly chart and are currently stable above the top side, also indicating that this instrument will break out higher.
USD/JPY - SELL - 109.386
Since January 2017, USD/JPY has been bouncing between support and resistance levels around 108.55 and 115.49. We are seeing a downward direction on the Long term MA on the daily chart and are nearing the support level. We are also hovering around the OS level but I still feel we have enough scope to drop a little further. The 4 Hour chart is showing a strong down trend since 11th July and the hourly chart has seen the formation of a BAT pattern indicating further declines in the price. We are in a OS position on the 24Hr CCI, but I think that a slight retracement up, may eradicate this and bring us back in to a position to continue the decline.
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