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ON 4 hour chart, Aud/usd is trading at a crucial trading zone of .75 There is a strong signal that it may test .72 zone in near future. How ever, if it takes support at this level the max it can go up is only upto .7650 levels. There is a strong Negative divergence in RSI. Will go for sell the highs strategy in this pair rather than buy the low, as the trend looks very negative.
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Pound analysis-looks tuning bullish
It looks like gbp/usd is all set to turn bullish. The current chart pattern shows a inverted Head and shoulder pattern with 1.38 zone as the head level and the shoulders are seen at 1.4060 level. however, The Triangle formation as marked shows there is lesser bounce when ever it touched 1.4060 zone. IT has to break out off 1.427 decisively on a daily close can take it ultimate target of about 1.52 zone. it may how ever face resistance around 1.46 and 1.4850 zone on the way up. The current stop f…
Gold the levels for the month Feb
Technical analysis for Gold and my prediction is at 1188 zone around February end.
Here the weekly chart shows that the Gold is struggling once it broke below the support zone of 1175 and once it break below that, it again took a resistance at that level again. So, Breaking that 1175 zone looks a little difficult considering the situation
But on a daily chart, it took support at 1050 zone and there was a double bottom. It also shows that there is a Cup and Saucer formation happening in the cha…
Here the weekly chart shows that the Gold is struggling once it broke below the support zone of 1175 and once it break below that, it again took a resistance at that level again. So, Breaking that 1175 zone looks a little difficult considering the situation
But on a daily chart, it took support at 1050 zone and there was a double bottom. It also shows that there is a Cup and Saucer formation happening in the cha…
Gold to gain on Iraq attacks
Though gold is in a correcting mood for a long time, it's time for it to be bullish as the fundamental news as well as the technical are suggesting a long trade for the upcoming months. While there is a fear of unrest in mid Asian countries like Syria and Iraq. Gold has a strong support around 1180 level and currently it's facing resistance around 1400-1450 levels. The daily trend line is currently breaking out meaning there may be a bigger moves ahead.Lower time frame of 4 hour chart shows tha…
Bullish EUR
For the long term, EUR is looking bullish with daily chart showing a strong channel and higher low trend line. By next month end EUR is supposed to test the previous highs made in the months of October and December which after breaking out turned out to be a support in April for a brief period. Currently we are expecting the market to touch a level of 1.3790 before correcting again till 1.35 or lower.
Even on a four hour chart EUR is making a symmetric triangle which breaking above would test t…
Even on a four hour chart EUR is making a symmetric triangle which breaking above would test t…