Oct 3, 2018
Gold has made a low of $1160 level and then it bounced from there and made a high of $1200 level. Well 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. Well the current stance shows a bullish momentum and yellow metal has crossed the moving average i.e. 1200 level which is a psychological level.
Continue reading “Gold: Gold has bottomed out & heading to north side”
July 27 , 2018
By analyzing the daily technical chart we can see that a strong rally in past couple of month but after arriving at 1.00 range bulls lost their momentum and afterwards we are witnessing many dead sessions. From mid of May month and till now we are witnessing choppy sessions as both bulls and bears are fighting. From technical prospective we can see that a symmetrical triangle price pattern has been formed on the chart and there is saying that a valid breakout on either side will give us new buy or sell signal.
Continue reading “USD/CHF: Symmetrical triangle has been formed”
July 19 , 2018
The sterling has been trading downside against the Swiss franc. As we can see a steep downfall from 1.3855 level in the month of April 2018 and pair is still falling down continuously. Well last week we have seen some profit booking but that was limited to 1.3253 level. By looking at the daily technical chart pair is heading towards south side as it seems like bears are nocking the door again and three black crow candlestick pattern has been formed on the daily technical chart which indicates that further selloff is still awaited.
Continue reading “GBP/CHF: Bears are knocking the door again, what next?”
July 10 , 2018
On the daily chart we can see that overall stock was making successively lower lows and lower highs but after making a low of 80.49 level it could not sustain and we have seen counter attack from bull’s campaign. Well pair is still hovering between the range of 80.49 to 84.15 level in short term. Traders are making smart profit from this anticipated move as pair is getting bounce from the support line and falling down from this resistance line.
Continue reading “AUD/JPY: Bounced back from the support line of consolidation phase”
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.
Continue reading “USD/JPY: Bears give the impression like hanging on the wall.”