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Ascending Channel

GOLD(XAUUSD)-BULLISHDescription: After a continuous fall for the past 30 days, the counter XAUUSD’s price started moving upwards and form an ascending channel from 12th March. The formation of the ascending channel indicates the counter is in a strong bullish trend. The previous entry of the counter was at the bottom line of the channel at the price of 1698.87. The buying mood of the market may push the price upwards. The current trend of the counter is expected to continue further. The MACD indicator curves give additional support to the description. The major levels for this counter are R2 –1747.74 R1 –1739.33 PP –1732.70 S1 –1724.18 S2 –1717.66
OANDA:XAUUSDLong
by WohlstandMarketsLimited
USDJPY PREFER LONGDescription: The counter USDJPY forms an ascending channel on 05th February. Since the price is maintaining in the channel and it is still moving upwards. The previous entry of the counter was at the bottom line of the channel at the price of 104.40. The formation of the ascending channel indicates the buying mode of the market. The bullish trend may continue further. The MACD indicator curves give additional support to the description. Only if the counter’s price breaks the bottom line of the channel then there may be a chance of trend reversal. The major levels for this counter are R2 –105.41 R1 –105.17 PP –104.94 S1 –104.70 S2 –104.46
Long
by WohlstandMarketsLimited