June 18, 2024

Likwid Blog | GOLD / OIL / RTS / CANADIAN DOLLAR 09/12/2019 analysis by the method of cluster volumes.

Good day, traders! Elisabed is in touch with you again. The beginning of the working year is clearly not the same for everyonebegins, but I want to congratulate everyone and wish you fruitful and productive everyday life!

On Wednesday, the single currency is stable before the meeting of the European Central Bank, which will be held today at 14:45.
Most market participants expect the ECBnew stimulus measures to support the economy and rising inflation. The eurozone economy is primarily negatively impacted by the approaching Brexit and the trade war between the United States and China.

GOLD
We foresaw the appearance of signs of exhaustion of the rally on the weekly timeframe in the previous analysis dated August 23, 2019
smart-lab.ru/company/likwid/blog/557733.php

While die-hard bulls are unlikely to give up on gold, everyday investors will likely make up their minds after the September 17-18 Fed meeting and rate decision.

Recovery of demand for risky assets cannot be ruled out . 3the gold may indirectly suffer from other changes, especially the recovery of the stock market and other risky assets (if the events on the Sino-American front remain encouraging).

Likwid Blog | GOLD / OIL / RTS / CANADIAN DOLLAR 09/12/2019 analysis by the method of cluster volumes.

The forecast also noted a high probabilityresumption of “longs” from the level of 1490, which began to work out since yesterday and is already showing a move of 1400 points. If the close of the day is above the level of 1510, then it makes sense to hold the position to the level of 1550, from where sales should be considered before the previous weekly accumulation in the range of 1440-1395.

Canadian dollar

Likwid Blog | GOLD / OIL / RTS / CANADIAN DOLLAR 09/12/2019 analysis by the method of cluster volumes.

The Canadian traded in a narrow range for a month.range and did not want to work out the medium-term forecast of purchases on futures and sales on Forex, but after the formation of a false breakout, I rushed to work out all the targets, those who were not knocked out by the stop should hold the position to 0.76735 and sell (forex)  with a target of 1.30000.

RTS Index

Likwid Blog | GOLD / OIL / RTS / CANADIAN DOLLAR 09/12/2019 analysis by the method of cluster volumes.

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At the moment, there is a depletionupward movement near the level of 136,000, from which there is a high likelihood of resuming sales with a target of up to 126,000. Since indices should be traded in shorts more accurately than in long, that is, the need to wait for confirmation and the formation of a reversal pattern.

CRUDE OIL

Likwid Blog | GOLD / OIL / RTS / CANADIAN DOLLAR 09/12/2019 analysis by the method of cluster volumes.

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Oil clearly shows that hindering the upwardmovement and have strong resistance. The formation of a reversal pattern is present, but the goals are subjective here: as long as I adhere to the support level of 50, we can potentially reach 46 as well.

 

All successful bidding!