What a time to be alive! Sharp, rapid movements on EUR/USD, SP500 and Gold!

“May you live in interesting times” is popularly referred as a Chinese curse although there are no real sources to support that. Nevertheless, in western culture, this expression is commonly used now and then. Definitely we can talk about the interesting times on the market right now.
Tomasz Wiśniewski
What a time to be alive! Sharp, rapid movements on EURUSD, SP500 and Gold!

Rapid reversal on the EURUSD, huge drop on the SP500 and new long-term highs on the Gold. What a time to be alive!

EURUSD broke the horizontal support on the 1.111 but it was a false breakout! This kind of a price behavior is very often a strong signal to open an opposite position, in this case – buy. Traders followed that and the price created a beautiful V-shape reversal pattern. The buy signal is ON.

Breaks on the SP500 seems broken and sellers are effectively using this to make nice profits! In just few trading days, bears managed to break all important Fibonacci retracements of the June-July rise. Sellers should not get too comfortable though. SP500 made several V-shape reversals in the past few years, so it is definitely not impossible to do this again. Current sentiment remains negative though and it seems that buying is no longer an option.

Gold is moving from the false breakout to the false breakout. Latest was to the downside, so is promoting a further rise. Buy signal is ON and we need to think about a good place for a target. When looking on the daily chart, only one comes in mind – area around 1550 USD/oz. Chances that we will get there are very high.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US