CHARTPOINT

Gold has potential upside after meteoric rise in price

GOLD prices had an exciting run, prospering on tumultuous geopolitical uncertainty in the Middle East during the early weeks of 2020.

CHARTPOINT

EURUSD to end decade with possible downside

EURUSD surged last Wednesday following dovish comments by Federal Reserve chairman Jerome Powell during the release of the Federal Open Market Committee (FOMC) statement. Leaving the interest rates unchanged, Mr Powell further highlighted that interest rates are likely to hold through in 2020....

CHARTPOINT

Lagarde's ECB presidency marks period of transition

AS we move towards the end of 2019, we are transiting to a new period as Christine Lagarde takes over as the new president of the European Central Bank (ECB). The question on most people's minds is: "Will the new president make her presence felt by enforcing her authority through immediate...

CHARTPOINT

An upward move for GBPUSD soon?

AFTER weeks of discussion back and forth on whether the United Kingdom (UK) was going to push through with an exit from the European Union (EU) on Oct 31, European Council (EC) president Donald Tusk announced that the EC has agreed to a "flextension" which allows the UK Parliament more time - to...

CHARTPOINT

USDSGD poised to climb

USDSGD has been travelling gradually upward in an equidistant channel over the last two weeks of September. As the month is coming to an end, we are seeing the price of USDSGD approaching the upper band of the equidistant channel. Immediate resistance levels can be seen at 1.3815 and 1.3825.

CHARTPOINT

Any upward move may not last

THE USDJPY has been bound up in a sideways range for the last two years since 2017, with the price moving consistently between a high of 114.50 to a low of 104.50. At the point of writing, USDJPY is at 106.28 after bouncing off the 104.50 support level. Following which, the USDJPY is showing...

CHARTPOINT

Yellow metal needs constant observation

AFTER a meteoric rise in gold prices, in the recent weeks, the attention of the market has largely moved mainly into silver, gold's laggard cousin, as well as the Japanese yen. This move into alternative safe-haven vehicles by the market was largely fuelled by the high gold prices, which did not...

CHARTPOINT

Prospective resistance break for silver amid bullishness

SILVER, gold's often overlooked sibling, is finally stirring with its price decisively breaking out of the resistance of US$15.50 per troy ounce on July 16. The metal continued its upward momentum to just shy of US$16.00 the very next day. At the time of writing, silver prices have broken above...

CHARTPOINT

Price of gold soars, with chance of more upside

THE economic outlook appears gloomy as we head into the second half of 2019. Several key factors have contributed to these economic headwinds. Chief among them is the US-China trade war while the Brexit situation between the United Kingdom (UK) and the European Union (EU) continues to be a worry...

CHARTPOINT

Trade war will affect yuan's proxy, AUD

THE Reserve Bank of Australia (RBA) has kept its official cash rate (OCR) at the current record low of 1.5 per cent during its recent May meeting. Despite the RBA steering towards a more positive outlook, this doesn't mean that a rate cut is off the table if there are signs of weakness in the...

CHARTPOINT

USDCAD may continue upwards to retest the 1.3460 high

THE movement of the USDCAD has been range bound. It continues to move sideways constricted within a narrowing range during the past month following a strong move in the early weeks of March 2019. From the 4 hourly charts, we see that USDCAD is bound by the price levels of the recent high at 1....

CHARTPOINT

USDJPY still moving along upward trend-line

THE USDJPY has been on the rise following the lows in January 2019. The upward move has taken the price of the currency pair from 107.50 steadily to the current price level of 111.50. This move constitutes a 6.93 per cent increase, from its lowest point during the flash crash in the first week...