The MasterCharts: July 2013
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Gold & Silver 24 hr Spot

24 Hour Spot Gold 3-Day Overlay24 Hour Spot Silver 3-Day Overlay

Gold Silver

24 Hour Spot 3-Day Overlay 24 Hour Spot Silver 3-Day Overlay

Note: Green is today (or last trading day)


Tuesday, July 30, 2013

#Infographic: Rise of the #Yen #FX Contracts | OpenMarkets

In terms of currencies, 2013 has been the year of the yen.  Japan’s Prime Minister Shinzo Abe took office in December 2012 with the promise to devalue the currency, and make the country more competitive in global trade. He’s delivered, and markets have followed with great interest, causing many to declare “currency wars” as other economies have raced to adjust the value of their currencies in response.
Abenomics, as it’s been called, has taken hold, and CME Group’s FX markets have responded, breaking several yen trading records, including the monthly average daily volume record in June. At the same time, we’ve seen that Fed officials have indicated that the end of QE is near, so long as the unemployment rate appears on a path toward 6.5 percent in 2014. Both central bank actions seem to have un-pegged the dollar and yen in recent months.
We created this infographic to trace the economic events this year with the growth in JPY/USD trading.

Infographic: Rise of the Yen FX Contracts | OpenMarkets

Sunday, July 28, 2013

Is #Gold forming an Inverse Head & Shouldern Pattern?

Is #Gold forming an Inverse Head & Shouldern Pattern?

Head and Shoulders Bottom (Reversal)

The Head and Shoulders Bottom, sometimes referred to as an Inverse Head and Shoulders, is a pattern that shares many common characteristics with its comparable partner, but relies more heavily on volume patterns for confirmation.
As a major reversal pattern, the Head and Shoulders Bottom forms after a downtrend, and its completion marks a change in trend. The pattern contains three successive troughs with the middle trough (head) being the deepest and the two outside troughs (shoulders) being shallower. Ideally, the two shoulders would be equal in height and width. The reaction highs in the middle of the pattern can be connected to form resistance, or a neckline.

$GOLD - SharpCharts Workbench -