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Ray Steve
Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and "Cutting Edge" Psychology by Gary Dayton Overcome psychological obstacles to increase trading success Successful traders need to be well-versed and skilled in a wide range of business and economic areas...
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Ray Steve
India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5...
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Ray Steve
After many years of trading, you’ll be hard pressed to find an indicator as simple or effective as moving averages. Moving averages take a fixed set of data and give you an average price. If the average is moving higher, price is in an uptrend on at least one or possibly multiple time-frames...
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Ray Steve
“Of note is a weekly outside reversal and weekly RSI rolling over from above 70 this week. Prior instances of RSI rolling over (2004, 2006, and 2007) from above 70 indicated tops of at least several months.” GBPUSD has traded back to the year open (1.6565). 1.6565 to the March low (1...
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Ray Steve
EURGBP Technical Strategy: Flat Support: 0.7973, 0.7954, 0.7935 Resistance:0.8007, 0.8031, 0.8050 The Euro began edging higher against the British Pound as expected after prices produced in a bullish Morning Star candlestick pattern. A pullback now sees prices testing support at 0...
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Ray Steve
manijeh alizadi ghahveh
Gold extends losing streak on strong dollar
Gold extended losses to a fifth session on Thursday, dropping to a two-week low after the U.S. dollar strengthened on indications from the U.S. Federal Reserve that it could raise interest rates sooner than expected.
A surprisingly strong recovery in the U.S. job market could lead the Fed to raise interest rates earlier than it had been anticipating, minutes from the Fed's July meeting showed, although most officials wanted further evidence before changing their view.
Spot gold hit a two-week low of $1,284.80 an ounce and traded down 0.5 percent on the day at $1,285.81 at 0324 GMT. U.S. gold was down about $8 at $1,287.
"Gold is under pressure because of the stronger dollar," said one precious metals trader. "More data today should test gold's support and it is very likely that gold will go to $1,280 and below."
Read MoreThe other commodity that's leaping on the Ukraine war
Gold failed to move up despite a dip in Asian shares, which came under pressure as a disappointing Chinese manufacturing survey stoked concern about the regional giant.
The U.S. dollar traded at 11-month highs against a basket of major currencies because of the slightly hawkish tone in the U.S. central bank's minutes.
Thursday's data on U.S. weekly jobless claims and euro zone and U.S. manufacturing data should be the next triggers for gold, and markets are also waiting for Fed chair Janet Yellen's comments at the Jackson Hole central bankers' gathering on Friday.
Investors fear that strong data could prompt the Fed to increase rates soon. Higher interest rates would dull the appeal of non-interest-bearing assets such as gold.
Read MoreUkraine's Poroshenko to attend crisis talks with Putin
Meanwhile, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.9 ton to 800.09 ton on Wednesday, the third straight daily increase.
Continued violence in Ukraine and the Middle East may be prompting investors to seek safety in gold. Those conflicts have helped push bullion up around 7 percent this year.
Gold extended losses to a fifth session on Thursday, dropping to a two-week low after the U.S. dollar strengthened on indications from the U.S. Federal Reserve that it could raise interest rates sooner than expected.
A surprisingly strong recovery in the U.S. job market could lead the Fed to raise interest rates earlier than it had been anticipating, minutes from the Fed's July meeting showed, although most officials wanted further evidence before changing their view.
Spot gold hit a two-week low of $1,284.80 an ounce and traded down 0.5 percent on the day at $1,285.81 at 0324 GMT. U.S. gold was down about $8 at $1,287.
"Gold is under pressure because of the stronger dollar," said one precious metals trader. "More data today should test gold's support and it is very likely that gold will go to $1,280 and below."
Read MoreThe other commodity that's leaping on the Ukraine war
Gold failed to move up despite a dip in Asian shares, which came under pressure as a disappointing Chinese manufacturing survey stoked concern about the regional giant.
The U.S. dollar traded at 11-month highs against a basket of major currencies because of the slightly hawkish tone in the U.S. central bank's minutes.
Thursday's data on U.S. weekly jobless claims and euro zone and U.S. manufacturing data should be the next triggers for gold, and markets are also waiting for Fed chair Janet Yellen's comments at the Jackson Hole central bankers' gathering on Friday.
Investors fear that strong data could prompt the Fed to increase rates soon. Higher interest rates would dull the appeal of non-interest-bearing assets such as gold.
Read MoreUkraine's Poroshenko to attend crisis talks with Putin
Meanwhile, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.9 ton to 800.09 ton on Wednesday, the third straight daily increase.
Continued violence in Ukraine and the Middle East may be prompting investors to seek safety in gold. Those conflicts have helped push bullion up around 7 percent this year.
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