Gold: Yellow metal is heading towards the $1225 level

June 26 , 2018

 

By observing the daily technical chart we can observe that  yellow metal which is known as safe heaven investment is itself not in a safe zone as it is trading below all the major and minor EMA lines. It seems like bears are taking the charge and dominating the bulls at every nook & conrner. The way bears are reacting it seems like they are not ready to stop in early in early stage and approaching the $1225 level in short term which is December 2017 low.

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GBP/USD: Profit booking going on due to dollar weakness

June 26 , 2018

 

By looking at the daily chart we can see that the pair has shown buying interest but that was limited as pair is still hovering below the moving average lines. We can observe that after a steep downfall some profit booking was expected due to dollar weakness. Overall short term to intermediate term trend is down so in a downtrend market sell on high will be profitable strategy.

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EUR/USD: Bears are dancing on the floor and enjoying

June 25 , 2018

 

By looking at the daily chart we can see that bears are driving the car and seating at the front seat. The way bears are reacting it seems like they are checking the depth of the pair as we can see the sharp downfall in the pair. The blood bath is going on and there is no chance for buyer to have any position however, we can see a bid blue candlesticks which are the indication of profit booking for sellers.

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USD/JPY: Bears give the impression like hanging on the wall.

June 25 , 2018

 

By looking at the daily technical chart we can see that earlier pair was heading north side and an uptrend line was lying on the daily technical chart but due to geopolitical factors like interest rate hike by FED pair stop to move up and we have seen a steep downfall in the last week of the May 2018. Afterwards, bulls managed theirself and tried to took it upside but it failed and pair again slipped towards south side.

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