We look to sell below major resistance at 0.7226 (Fibonacci projection, horizontal overlap resistance) for a push down towards the 0.7122 level. Stochastics (21,5,3) is also below major resistance at 90%. Sell below 0.7226. Set stop loss at 0.7311 and take profit at 0.7122. The material has been provided by InstaForex Company – www.instaforex.com Source: […]
Overview Gold price continues to fluctuate around the EMA50, break of which will open the way to continue the main bullish trend on the intraday and short-term basis. Stochastic provides positive overlapping signal now, motivating the price to trade upwards in the upcoming sessions. Therefore, we will keep our bullish overview for today with the […]
Since our previous analysis, gold has been upwards. The price tested the level of $1,270.65 in an average volume. On the 4H time frame chart, I found a trading range (potential re-distribtion) between the price of $1,265.50 (resistance) and the price of $1,241.22 (support). The Gold is in a downward trend and my advice is […]
Gold price continues to trade sideways inside a tight trading range. A breakout above $1,263 will open the way for a push higher towards $1,280-90. I’m bullish at current levels. Red lines – trading range Gold price has entered the 4-hour Ichimoku cloud. A trend is neutral. We could see a push towards the upper […]
Since our previous analysis, gold has been trading sideways at the price of $1,261.00. On the 4H time frame chart, I found a trading range (potential re-distribtion) between the price of $1,265.50 (resistance) and the price of $1,241.22 (support). The Gold is in downward trend and my advice is to watch for a potential breakout […]
For the last couple of sessions, I have expressed the bullish outlook for Gold expecting at least a bounce towards $1,280-$1,300. However, we should not ignore the possibility that the entire decline is over. Gold is trying to breakout above the short-term trading range. Red lines – trading range Gold price has entered the short-term […]
Overview: The NZD/USD pair fell from the level of 0.7140 to the bottom around 0.7034. But the pair has rebounded from the bottom of 0.7034 to climb at 0.7181. Today, the first resistance level is seen at 0.7205, and the price is moving in a bullish channel now. Furthermore, the price has been set above […]
Overview: The USD/CHF pair movement was controversial as it took place in a narrow sideways channel, but the trend showed signs of stability in the bullish market. Amid the previous events, the price is still moving between the levels of 0.9842 and 0.9909. Besides, the daily resistance and support are seen at the levels of […]
Technical outlook and chart setups: The US Dollar Index has resumed its corrective drop after hitting 98.17 level earlier. The index is trading at 97.68 level for now, looking to drop lower further towards 97.00 level at least. Please also note that 96.94 is the fibonacci 0.382 support as depicted here. The waves structure indicates […]
Technical outlook and chart setups: The EUR/USD pair has finally staged its much expected rally and is now trading at 1.1020 levels. Please note that the pair needs to push through 1.1060 levels to confirm that a further upside remains. If EUR/USD reverses from here, the odds are that a lower low will be hit […]
Technical outlook and chart setups: Gold had dropped lower towards $1,245.00 levels on Friday before pulling back. The metal is seen to be trading at $1,257.00 levels for now and is likely to rally from here. A push above $1,261.00 levels should accelerate the movement towards $1,280.00 and above. The wave structure also indicates that […]
EUR/USD: The EUR/USD bounced upwards shallowly on Monday. There is a strong Bearish Confirmation Pattern on the 4-hour chart, which means further bearish movement is expected this week, and that could take price towards the support lines at 1.0950 and 1.0000. However, it is unlikely that the great support line at 1.0000 will be breached. […]
USDX is looking to consolidate above the 98.00 handle, but it seems that the bearish force is still adding pressure on the index around that area. However, to confirm further advances in the US Dollar Index, one should expect a breakout above the key zone of 98.53 in order to reach the psychological level of […]
GBP/USD had a consolidation phase on Monday, as the support level of 1.2112 remained untouched. A bearish trend line from September 30th high is still acting as dynamic resistance and we’re focusing on a possible breakout below the 1.2179 level. However, if the cable manages to break the 1.2229 level, then it can test the […]
Since our previous analysis, gold has been trading sideways at the price of $1,253.00. On the 30M chart, I found Friday’s point of control at the price of $1,255.77, using the market profile. The price respected Friday’s point of control and sellers came in on the market. My advice is to watch for potential selling […]
AUD/CHF seems to establish an uptrend after breaking the descending channel and rejecting 200- and then 50-Moving Averages. Based on the Fibonacci applied to the channel breakout point, the pair yet to test the nearest resistance at 23.6% Fibs (0.7567) and if broken could continue climbing even further up. Currently AUD/CHF is trading right at […]
Clearly EUR/AUD is trending down but according to our Fibs applied to the channel breakout point, the pair is yet to test the nearest support at 23.6% Fibs (1.4366). Consider holding short positions from 1.4730 or adding new short positions at the current rate (1.4440) targeting 23.6% Fibs (1.4365). Stop loss should be well above […]
Gold price continues to trade sideways between $1,262 and $1,250. Last week we witnessed two fake breakdowns towards $1,247 only to be reversed upwards within the same hour. This is a bullish sign. Gold is very likely to start a new upward move from current levels. Red lines – trading range Green rectangles- fake breakdowns […]
As talks between the UK and the European Union over the Brexit terms are approaching, it might not be unexpected by a number of investors that the pound has had decreases for the last six weekly trading sessions in a row. According to recent comments by the UK Prime Minister Theresa May during a Conservative […]
Technical outlook and chart setups: Gold had dropped lower towards $1,245.00 level on Friday before pulling back. The metal is seen to be trading at $1,254.00 level for now and should be looking to rally from here. The wave structure also indicates that the counter trend rally is expected to terminate around the past support […]
When the European market opens, some economic data will be released such as final core CPI y/y, final CPI y/y, and Italian trade balance. The US will also publish some news such as industrial production m/m, capacity utilization rate, Empire State manufacturing index. Thus, amid the reports EUR/USD will move in a low to medium […]
In Asia, Japan will release the revised industrial production data, and the US will also publish some economic news such as industrial production m/m, capacity utilization rate, Empire State manufacturing index. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 104.62. Resistance. […]
The price dropped perfectly as expected and reached our profit target. We turn bullish above 114.11 major support (Fibonacci retracement, Fibonacci projection, horizontal support) for a push up to 116.19. RSI (34) is on support. Stochastics (21,5,3) is also on support signalling a bounce is impending. Buy above 114.11. Set stop loss at 113.34 and […]
The price is right above the major support at 79.02 (Fibonacci retracement, Fibonacci projection, horizontal pullback support) where we expect a bounce and a push up to the 79.98 level. RSI (55) is at the pullback support signalling a bounce is impending from here. Buy above 79.02. Set stop loss at 78.53 and take profit […]
EUR/USD: The EUR/USD went down by 220 pips last week, closing below the resistance line at 1.1000. There is a strong Bearish Confirmation Pattern on the 4-hour chart, which means further bearish movement is expected this week, and that could take the price towards the support lines at 1.0950 and 1.0000. However, it is unlikely […]
The US dollar index is still riding a bullish trend across the board, consolidating gains above the 200 SMA. Eventually we may expect another rally attempt towards the 98.53 level. However, the first day of the week should be key for the trend development, as we’re seeing a kind of pattern that should deliver strong […]
The pair is still showing weakness on the mid and short-term basis, and a bearish trend line projected on the H1 chart is supporting this scenario. Currently, GBP/USD is struggling to break the support level of 1.2179, which should open the doors to test a key area around the 1.2112 level. If a bearish consolidation […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,252.70 in a high volume. On the 30M chart, I found yesterday’s point of control zone around the price of $1,258.40, using the market profile. The price is trading below 48 SMA according to the 30M time frame, which is […]
Overview The GBP/JPY pair showed more sideways trading consolidating around 127.25 levels yesterday due to a lack of negative momentum until this moment. The bearish scenario depends on stability of the 129.60 resistance. We expect the price to gather the required negative momentum and start recording targets at 123.15 followed by 120.90. Note that an […]
October is an important month for the US stock market seeing as the SPX has delivered an average of 1.9% returns during the month. This month also happens to keep the investors on edge with the most number of 1% moves in the index since 2000 as shown on the table below. Considering the historical […]
