Asia closed in the black after the Manufacturing Activity Index release PMI China. Nikkei added another 1%. European markets are slowly growing too.

U.S. markets closed the previous month in the black, NASDAQ has set a 14-years high. Markets went through lots of crises, fears and despite all the negative comments to Fed’s policy, slow economic recovery and geopolitical conflicts there are positive trends to dominate. Traders should stay objective and stick to a course that gives them some market advantages.

NASDAQ

Gold

After it built the base near the top of a big green candle yesterday, it has broken the resistance and reached another important point from which the price had reversed on April 14 and the balance changed. The price pierced it, but traders are not ready to adopt these levels. There is a reversal candle to form on a chart that confirms a resistance. If the candle closes the same or below, than we may expect 1.5-2 days of falling continuation to our support zone of $1306.50-$1314.70. It’s just a little tactics there are lots of contradictory trends on different time frames.

GOLD

GBP/USD

Unlike Gold, in the currency pair GBP/USD all the time intervals confirm the upward trend. On the weekly chart this pair is in a growing range since November 2013, where 21 EMA acts as a support. If we know the direction, then the best strategy would be stick to it and buy near the trend line while rollbacks. There is a base near the high on a daily chart, and that speaks of buyers’ strength and their ability to buy at ‘high’ prices. On the hourly chart, I’ve marked the main points where traders should make their adjustments and notice the changes and signals that the market gives. There were lots of support rates, trend line penetrations and flags. This trend gives us a lot of A+ possibilities, especially when sentiments of different time intervals matches.

GBPUSD


GBPUSD

Apple

Apple was bought up in the last day of June, after it had broken through the flag (for more details read yesterday morning note). When the market is so strong you should always have a list of the leading shares. Now, after the 4-days growth we may expect for a consolidation, as the closure was weak. Let’s see the buyers’ reaction at the 8 EMA. The longer it holds up above $91.65-$92.00, the more chances there would be for growing and testing the June 10 high of $95.05.

Apple