ImranMughal99's Blog
AUDUSD UP TREND NEXT MONTH
MACD indicates that momentum is improving, but it remains in bearish territory. I expect the histogram as well as moving average to approach the centerline during the expected move higher. RSI is trading in territory and a breakout should initiate the rally.Current Level 0.7946 I expect the pair to be trading near 0.8042 towards the end of the forecast period which will conclude on the 2nd of October, 12:00 GMT Ideally, the pair will follow the expected price path as outlined on the charts.
NZDUSD UP TREND NEXT MONTH
MACD indicates that momentum is improving, but it remains in bearish territory. I expect the histogram as well as moving average to approach the centerline during the expected move higher. RSI is trading in territory and a breakout should initiate the rally.Current Level 0.7182 I expect the pair to be trading near 0.7416 towards the end of the forecast period which will conclude on the 2nd of October, 12:00 GMT Ideally, the pair will follow the expected price path as outlined on the charts.
GOLD UP TREND
Gold price has finally bounced off 1105.00 resistance after the number of attempts to breach it.Today we are monitoring the price action to test 1077.00 support level.Alternatively a failure to sustain a move lower could see the commodity to reverse higher to 1105.00 resistance.From a technical perspective, Gold is trading in an intraday 4-hour downtrend with the line of control at the 1105.00 level.