eurchf 16-04-2019

EUR/CHF: Bulls have become too aggressive.

The current picture of daily chart is showing a clear steep recovery with the aggressive bullish sentiments. A V shape recovery on the daily chart is showing that bulls are in revenging mood and they are not ready to stop in early stage. The 1.1450 and 1.1500 level is seems as stumble block for bulls and the a valid breakout of this level will open the way towards the 1.1600 level towards north side.

 

Earlier pair was heading south side with lower lows and lower highs but after arriving at 1.1161 level bears lost the control and bulls grab the opportunity. Bulls made a fabulous counter attack on the same time which was the initial indication of bottom out process. In our previous report also we mentioned to buy this pair and we are hoping that our readers must have made profit from this move.

Two consecutive bullish marabuzo candlesticks are generating trend reversal signal which is providing us bullish signal and pair has turned up above the moving average lines which is providing us bullish signal. Presently pair is trading and sustaining above the moving average which is providing us bullish signal. Pair is making successively higher highs and higher lows on the daily chart and bulls are dominating the bears.

We will keep our bias bullish on the pair as long as 1.1200 levels remains intact. Odds are in favor of bulls. A double bottom pattern has been formed on the daily chart which is providing upside pressure to the bulls and the way bulls are reacting it seems like they are driving the car and they are in party mood.

A bullish crossover on MACD indicator is favoring the bulls and providing trend reversal signal for the time being and RSI is also providing us bullish signal from positive territory however, some correction can’t ruled out even that should be consider as further buying opportunity. The 1.1450 level is immediate resistance level followed by 1.1500 whereas 1.1200 levels is strong key support level followed by 1.1150 level.

Gold: Bears has evaporated all the bullish setup, and looking to move below $1280.

The yellow metal is known as safe heaven investment but at present momentum gold itself is not moving at safe levels. The roller coaster rides can be seen on both side from past couple of weeks. Even some moves pressure us to think that gold is looking for the firm direction as it has struck in the strict range of $1280 to $1324 level. Presently gold is trading below its main EMA and SMA lines which are suggesting us bearish momentum in short term.

It seems like bears are eagerly looking for a break below $1280 level which is a key support level a break below the mentioned key support level will lead to $1270 and $1250 level in near term. From technical prospective we can see a bearish engulfing candlestick which has changed the bias from bullish to bearish as we can see that earlier the bulls are making the setup of rounding bottom pattern where some consolidation phase is the part of the price pattern but last week on Thursday all bullish sentiments has been evaporated.

On the international chart we can see that pair has entered into symmetric triangle pattern and it require a breakout on either side which will give us new buy or sell signal. But there are high chances that we may see a downside breakout as odds are in favor of bulls and daily to weekly bias remains bearish on the gold as long as 32500 level remains intact on MCX and $1310 on Comex.

The $1300 level is a psychological level and gold is trading below that level. Two weeks back gold moved up to $1320 but could not sustain and slipped to $1284 level and then it bounced again but this time rally was limited to $1310 level and slipped to $1290 level which bulls were unable to break the previous swing’s high at that time it created doubt in our mind and traders are advised to go for short at the current levels with the strict stop loss. To have a real bearishness in the yellow metal, bears need to trade and sustains below the $1280 level which will give further bearish momentum and bears will get aggressive below the $1280 level.

A bearish crossover on the MACD indicator is which a recent development on the chart. RSI is also providing us bearish signal from negative territory. The 32320 level is key resistance level followed by 32500 whereas 31400 is key support level followed by 31000 level.

Trade idea:-  Odds are in favor of bulls and daily to weekly outlook remains bearish on the yellow metal so traders and investors are advised to go short at 31900-32000 for the target of 31400 and 31000 and with the tight stop loss of 31500 level with the stop and reverse order of 32500. On contrary if bulls trades and sustain above the 32500 level then cut all the short position and sit at long side with the positional targets of 33500 and 34000 in near term with the stop loss of 31400 level.

gold report2 15-04-19

crude oil report 15-04-2019

Crude Oil: – Bears are knock the door, will bulls welcome them or not?

Well the crude oil is doing very good job since the starting of the year however so consolidation phase can’t be ruled out, but overall journey from $44.31 1st January 2019 to almost $64.80 in the last week was remarkable for the traders and investors. Well overall bulls leading and making successively higher highs and higher lows and heading north side by taking the support of an uptrend line. Positive developments surrounding the US-China trade deal and welcome data from one of the world’s largest oil consumer, China, fuelled WTI prices to $64.65 on Friday.

In our previous report also we have mentioned to buy the crude oil at $55 level for the target of $60 and $65 whereas on MCX we have advised to long the crude oil around 3900 for the target of 4250 levels which has been achieved. We are hoping that our readers must have made smart profit from this anticipated move.

Russia’s Finance Minister Anton Siluanov said that Russia and OPEC may decide to boost production to fight for market share with the United States. However, the Russian Finance Minister spotted fears of oil prices sliding to as low as $40 as a catalyst that offers the dilemma. On the other hand, the International Monetary Fund (IMF) held a thirty-ninth meeting where the global lender reiterated its fear for macro growth with statements like “risks remain tilted to the downside”.

One more evidences in the favor of bears is that, it started to decline from the exact 61.8% fibonacci retracement line i.e. $64.80, it is a low of October 2018 also which is also providing trend reversal signal from short term to intermediate term point of view.

The 4540 level can be considered as strong resistance level followed by 4600 level whereas 4270 level can be taken as support level followed by 4140 level which is a strong support level for the time being.

The RSI is also favoring the bears from overbought territory and a bearish crossover of MACD indicator is about to occur. A bearish divergence on the RSI is also providing us trend reversal signal and bears has started to decline already, now we have to watch it whether it’s a correction or trend reversal signal? Well time will tell us but based on the chart and explanation above we can say that its trend reversal signal.

Trade idea:- Odds are in favor of bulls and our weekly to daily bias remains bearish on the crude oil. Traders and investors are advised to go for short 4450-4480 level for the target of 4250 and 4000 level with the tight stop loss of 4640 level.

eurusd 12-04-2019

EUR/USD: Rounding bottom pattern is in process of formation

By looking at the daily chart of the pair we can see that bulls have entered in the market, when pair made a low of 1.1183 level then we have seen it bounced sharply on the same day due to which a hammer has been posted on the daily chart after that bulls got the charge and took the pair towards north side. Presently pair is trading and surviving above the moving average lines which is providing us bullish signal.

The recent candle is bullish marabuzo candlestick which is indicating that bulls are leading and playing at front foot for the time being and we may see further bullish confirmation once we see daily closing above the 1.1300 level. The EUR/USD pair, which spent the majority of the day fluctuating above the 1.1200 handle. Overall pair is hovering between the ranges of 1.1300 to 1.1100 levels which is range of rounding bottom pattern. Well the way bulls are reacting it seems like the bullish breakout 1.1300 level is on the cards.

A bullish marabuzo candlestick followed by another bullish marabuzo candlestick is providing us bullish signal. Today again bulls are trying their best to take the pair towards north side. A daily closing above 1.1300 level will open the way towards the 1.1400 and 1.1500 level. Well the traders and investors are advised to have long position at the current level with the strict loss of 1.1200 level.

Odds are in favor of bears. We will keep our bias as bullish on the pair as long as 1.1200 level remains intact. The pair could face the next support at 1.1200 ahead of 1.1140. On the upside, resistances align at 1.1400 and 1.1500. A bullish crossover on MACD indicator is favoring the bulls and providing us bullish signal for the time being. RSI arrived in the positive territory i.e. above 50 level, which is supporting the bulls.

eurjpy 12-04-2019

EUR/JPY: Bulls are more active as compare to bears.

By analyzing the daily technical chart one can see that pair is heading towards north side with the formation of bullish engulfing candlestick pattern followed by bullish marabuzo candlestick which is providing us trend reversal signal for the time being.

Political risks are hindering the dollar’s advance, but that is also creating flows into the yen, which is weighing on EUR/JPY’s ability to really take off. EUR/JPY has been sent up to test a critical level of trend line resistance on the daily time frames. Meanwhile, risks are political given the US Justice Department’s allegations against two Chinese nationals which is a spanner in the works with respect Sino/US trade relations. There is also concern over US government funding, with about 25% of the federal government running out of fundind. .

Overall pair is making higher highs and higher lows on the daily technical chart and presently it is trading and sustaining above the crossed moving average lines and a daily closing above 127 level will give us further confirmation of bullish sentiments.

The 127.50 seems as the stumble block for bear and a valid breakout of this level will open the way towards the 128.50 and 130.00 level in near term.  On contrary a daily closing below the 125.00 level will confirm the bearish trend. Odds are in favor of bears. Intraday bias remains bearish on the pair. The short term to intermediate picture is mildly bullish.

RSI has arrived into positive territory which is favoring the bulls. A bullish crossover on the MACD indicator is generating bullish signal and providing strength to the bulls, which is a recent development.  The 127.50 level is immediate resistance level followed by 128.50 whereas 124.50 levels is strong key support level followed by 123.50 levels.