As Gold managed to hold trades below resistance zone 1335-60 a drop correction find the way where market looking to test 1317-20 support zonefrom that zone a rebound movement may hit the market again toward 1340-44 zonebelow 1317 market will face support at 1310 and 1303 where below 1303 market may head for farther drop movement toward 1285-96 zone
ImranMughal99's Blog
USDJPY
Market still holding trades inside tight zone where support at 100.10 and resistance at 101.20as long as market holding trades below 101.20 the downtrend pressure will sustain where another chance to head toward 99.00-20 will be availableabove 101.20 market will face the downtrend resistance around 102.20 which may push market for another drop movement
EURUSD
with market still holding trades inside tight zone we still holding our previous outlook as we see over our previous char, Market managed to hold strong as EURUSD success to hold trades above support 1.1100 while market still facing some resistance zone at 1.1280-90 and 1.1358as long as market holding trades below those levels the downtrend pressure will back to affect market where a drop wave may hit market toward 1.1086-80 zoneabove 1.1320 market may enter new uptrend wave that may attack resi…
USDJPY DOWN TREND
Charts. 1 HOURE
The USDJPY has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDJPY to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
…
The USDJPY has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDJPY to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
…
GOLD UP TREND
Gold price has finally bounced off 1105.00 resistance after the number of attempts to breach it.Today we are monitoring the price action to test 1077.00 support level.Alternatively a failure to sustain a move lower could see the commodity to reverse higher to 1105.00 resistance.From a technical perspective, Gold is trading in an intraday 4-hour downtrend with the line of control at the 1105.00 level.
GBPUSD UP TREND NEXT MONTH
Charts: 4 HOUR,
The GBP/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H4).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the GBP/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
The GBP/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H4).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the GBP/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…