October 18, 2018
Daily outlook of black gold is indicating that bears are taking the charge and pushing the crude oil towards downside. One can observe that bearish pressure in the crude oil and it is making successively lower lows and lower highs. As we have mentioned in our previous report that there is high probability that bulls will lose their grip from the market as it was heading at $75.50 level and we are hoping that our readers must have made profit from this fabulous move.
Presently crude oil is trading below all the major and minor EMA lines and indicating that bears are controlling the game and it seems like they are not ready to stop in early stage as bears may approach the $65 level in short term. Well they way bears are reacting it seems like the $65 level is not far away from here.
A big engulfing bearish candlestick is indicating bearish signal. Odds are in favor of bears and intraday bias remains bearish on the pair. A bearish crossover on MACD indicator is also favoring the bears. The. 72.50 levels is immediate resistance level followed by 74.50 whereas 68.10 level is strong key support level followed by 67.20 level.
October 17, 2018
The GBP/CHF is trading at 1.3068 level which is above the major and minor EMA lines. We can see on the daily chart the pair remains within an established rounding bottom pattern, which is itself a strong bullish pattern. Well the way bears are dominating the bulls it seems like bulls are driving the car and travelling towards north side.
Continue reading “GBP/CHF: Bulls Are Driving Car And Traveling Towards North-side”
October 16, 2018
By observing the daily technical chart we can see that every new swing was making successively lower lows and lower highs on the daily technical chart and pair has made a low of 0.6423 level last week and after arriving at that level it bounced sharply towards north side. The NZD/USD pair has charted a bull flag on the 4 hourly chart, which is a continuation pattern, meaning a break above the flag resistance, currently seen at 0.6600, would revive the rally and would allow a rally to 0.6700.The prospects of bull flag breakout would weaken if the pair finds acceptance below the 100-hour exponential moving average (EMA) 0.6495. NZD/USD has rallied on the New Zealand CPI beat and is en route for a test of the 61.8% Fibonacci retracement at highs of 0.6594. NZD/USD is currently trading at 0.6575 having printed a post data high of 0.6589, from a low of 0.6494.
Continue reading “NZD/USD: Pair Has Bottomed Out, As Rounding Bottom Has Formed On 4 Hourly Chart”
October 15, 2018
By looking at the daily chart we can see that earlier the balanced demand and supply was going on in the pair and pair was trading in purely uptrend channel followed by an aggressive uptrend channel and the pair was making higher highs and higher lows on daily basis. From intermediate point of view we can see that the pair has retraced almost 50% level and from here we are expecting a bounce towards north side. Well first it need to clear the 115 level then only we may expect further bounce towards the 117 and 119 level.
Overall odds are in favor of bulls and intraday bias remains bullish on pair as long as 112.00 level remains intact. Pair is trading and sustaining above the moving average lines which is generating bullish signal. In the meantime, technical indicators are flashing trend signal signals. This suggests that bull’s dominance over the rate is likely to grow stronger. Overall trend is bullish as long as an uptrend line is lying on the daily chart. RSI indicator is generating bullish signal and a bearish signal on MACD is not supporting the bulls for the time being but it will convert towards upside very soon.
The 112 level is key support level followed by 110 level whereas the 115 level is key resistance level followed by the 117 level. On the hourly chart we have seen that bullish sentiments have been started to come and in the near term we are expecting further bullish signal.
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October 15, 2018
By observing the daily technical chart we can see that yellow metal has made a low of $1160 level few weeks ago and then it bounced from there and made a high of $1200 level, after arriving the $1200 level it consolidated almost one and half month at these levels. Both bulls and bears were unable to move on either side and it looks like both bulls and bears were fighting with each other and trying to take the pair at their downside.
Continue reading “Gold: Bulls Opened Neck From Short Term Consolidation Phase”