
In a week that has been shortened by the Labor Day holiday Stateside, that represents the start of a new month and that includes a number of significant events in both Europe and the
Gold, too,
in US dollar terms, is behaving as expected. We recently pointed out that it
was approaching a significant level of resistance in its retrace of the dominant
trend. Has it reversed early from its appointment with the
200 week SMA?
A fairly neat pinbar has been described on the weekly chart. See here for an explanation of Pinbars.
It is a characteristic of these indicators that the longer the time frame chart
on which they appear, the more reliable they are expected to be.
The events
coming later in the week, which have the potential to upset the applecart, are
the Institute of Supply Managers (ISM) and Purchasing Managers Index (PMI) in the
US on Tuesday, the European Central Bank (ECB) monthly press conference on Thursday, the ADP Payroll
report on the same day, which will be watched as a leading indicator for the
official Non-Farm Payrolls on Friday, and of course the NFP report itself on
the last trading day of the week.
As always,
these comments are made in the spirit of identifying the manner in which
traders can place probability on their side. They are not, in any way, infallible predictions
of what will actually happen in the future. Be careful out there.
Hi. nice analysis. can you please teach me how to insert the RSS feed on blog and the facebook like icon.. many thanks.
ReplyDeleteMany thanks for the kind comment.
ReplyDeleteDetails of how to include the RSS feed button are here: https://www.rssinclude.com/help_support/integrate_into_popular_services/how_to_add_an_rss_feed_on_blogger_blogspot
and you can find the Facebook Like button here: http://developers.facebook.com/docs/reference/plugins/like/
Hope that helps (Hit the LIKE button on my blog if you have a second - the more the better).
SMcK
Seamus, i must say, those are pretty clean and soothing charts. Good luck. regards, Jovy
ReplyDeleteThank you Jovy. Your comment is much appreciated / SMcK
ReplyDelete