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Gold has bounced off the downtrend resistance line this.The commodity needs to hold below 1070.59 level, being the Pivot Point if the price action is to continue the downward move.The initial downside target is 1064.35, being the 1st pivot support level Should this target be reached, Gold could extend towards 1060.05 mark.If the metal fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.If this scenario was to occur, the target for next month is 1084. w…
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USDJPY DOWN TREND
Charts. 1 HOURE
The USDJPY has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDJPY to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
…
The USDJPY has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDJPY to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
…
AUD/USD UP TREND NEXT MONTH
Charts: 1 HOUR,
The AUD/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the AUD/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
The AUD/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the AUD/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
GBPUSD UP TREND NEXT MONTH
Charts: 1 HOUR,
The GBP/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H 1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the GBP/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to …
The GBP/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H 1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the GBP/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to …
EURUSD UP TREND
Charts: 4 HOUR,
The EUR/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H4).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the EUR/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
The EUR/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H4).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the EUR/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
AUD/USD UP TREN NEXT MONTH
Charts: 4 HOUR,
The AUD/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H4).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the AUD/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
The AUD/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H4).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the AUD/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…