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”
October 05, 2018
By looking at the daily technial chart we can see that pair was trading in downtrend channel with full of bearish momentum and heading towards south side. From technical prospective bears have breached the key support level of 1.2871, which is the psychological level and marked a new low of 1.2450 level on the daily chart.
Continue reading “GBP/CHF: Pair Has Violated Downtrend Line With Rounding Bottom Pattern”
Sep 20 , 2018
The recent uptrend in the EUR/AUD seems to be performing a correction as the pair broke below a rising trend line and formed a fresh lower high and lower low on the 4-hour chart.
From a technical standpoint, it seems like more weakness might be ahead for the pair as the correction is progressing, with the 38.2% Fib retracement level at 1.6060, acting as a potential short-term support for the price. Further below, the 61.8% Fib retracement level at 1.5875 might be a tough nut to crack as it also aligns with the upper bounds of July’s trading range.
Continue reading “EUR/AUD: Bears are snatching the bite from bull’s mouth at resistance zone”
Sep 18 , 2018
By looking at the daily chart we can see that pair is making suceessively higher highs and higher lows on day to day basis; even it is heading north side with aggresively , it seems like bulls only bulls are leading and dominating the bears. Well after a strong bullish strom bulls have arrived near the resistance level which is a make or break level for bulls. If it gives valid breakout of the resistance level then it will appraoch the 1.8700 level in short term.
Continue reading “GBP/AUD: Bulls arrived at resistance level; will it break ?”
Sep 17 , 2018
By observing the daily technical chart we can see that pair is trading and moving in a downtrend channel where perfect balanced demand & supply is going on. It’s good range for short term traders because there is pure anticipated move, if pair comes at bottom line just buy and if pair goes to upper line go for sell the pair, this process is going on from 154 to 140 range. In this steep range pair has given so many buying and selling opportunity to trade.
Continue reading “GBP/JPY: Pair is trading at upper line of downtrend channel”