Gold fades bounce off monthly horizontal support ahead of Fed Chair Jerome Powell’s key testimony. That said, gradually declining RSI (14) and bearish MACD signals add strength to the downside bias. Should the gold sellers manage to conquer the aforementioned support around $1,805, a downward trajectory towards the yearly low of $1,786 appears imminent. However,...
AUDUSD gyrates inside the one-week-old symmetrical triangle after the RBA Minutes and Governor Philip Lowe’s speech. Given the RBA’s hawkish bias and recently firmer RSI, the Aussie pair is likely to cross the stated triangle to the upside, which in turn highlights 0.7015 as immediate resistance. However, the 200-SMA level surrounding 0.7065, as well as the early...
BIOCON - Support level explanations 1. It takes 10 months of distribution to break downwards. 2. If the stock does not close above 325 this month, then there will be more falls. 3. Next support will be at 275, 250, and 220 respectively (250 is the corona crash low). 4. If the stock close above 325 in the monthly candle then it will take the support at the...
EURUSD holds onto its bearish bias, despite bouncing off an immediate support line. That said, a sustained trading below the 200-SMA and previous support line from late May keeps bears hopeful of breaking the nearby trend line support, around 1.0450. Following that, multiple levels surrounding 1.0400 could test the downside momentum before directing the quote...
UNITED SPIRITS (MCDOWELL) - Long-term bullish 1. Due to the market reversal trend all the stocks are in a bearish trend. 2. Now it's in a good support zone 714. 3. Based on the negative trend this stock will be under pressure in the upcoming weeks. 4. Next supports are 660, 610, and 570. 5. My strong feeling is, that it won't cut the 650 to 660 level, it has very...
Amazing cup pattern, wait for a bullish candle or candleatic pattern and go long
GBPUSD First Short then Long, As market is following a head & Shoulder pattern, so it is expected to reach to the level of up arrow drawn, but before it reaches to this point, market will take a re-test to the neckline of head and shoulder pattern happy profitable day guys
GBPUSD fades the corrective pullback from a two-year low, as well as the 61.8% FE level of late March-May moves. Also supporting the bounce was the oversold RSI condition. However, the Bank of England’s (BOE) looming rate hike keeps buyers on their toes due to the “Old Lady’s” previous failures to impress. That said, the recovery moves currently need a clear...
Despite bouncing off multiple troughs marked during mid-May, gold holds onto Monday’s rising wedge confirmation, suggesting further downside. However, nearly oversold RSI joins the horizontal support around $1,810 to test the intraday bears ahead of the US Federal Reserve’s (Fed) monetary policy meeting. Should the quote drops below $1,810, a downturn towards the...
EURUSD dribbles around a monthly low after breaking the six-week-old horizontal support. That said, the downward sloping RSI (14) line, not oversold, joins bearish MACD signals to also hint at the major currency pair’s further downside. With this, the sellers brace for the yearly low surrounding 1.0350. However, the RSI line and nearness to the Fed may restrict...
A clear downside break of the six-week-old horizontal support keeps GBPUSD bears hopeful of further south-run ahead of the US Federal Reserve (Fed) and the Bank of England (BOE) monetary policy meetings. That said, 1.2255-50 appears immediate support for the cable ahead of the yearly low surrounding 1.2150. It’s worth noting, however, that the quote’s sustained...
EURUSD SHort, Because of support resistant, trend line and wave analysis i a expecting a downfall in market i knew i am quite late in posting this position, actually i forgot happy trading day guys
Gold prices remain sustainably below 200-SMA since late April, pressured inside a three-week-old rising wedge of late. Given the steady RSI and sluggish MACD, the bearish bias is likely to prevail. However, a clear downside break of the stated wedge’s support, around $1,844, becomes necessary to confirm the downward trajectory towards the yearly low marked in May,...
XAUUSD Long, because of support resistant trendlines and candlestick pattern happy trading day guys
AUDCAD Long, because of support resistant trendlines and candlestick pattern happy trading day guys
GBPUSD Short, because of support resistant trendlines and candlestick pattern happy trading day guys
Brent oil prices grind higher around late March tops, staying above 10-DMA inside a monthly bullish channel formation. Given the firmer RSI backing the black gold’s gradual north-run, the quote is likely to overcome the immediate hurdle, namely the late March swing high around $124.40. However, the stated channel’s upper line near $127.50, which if ignored could...
After failing to cross the 200-day EMA, AUDUSD broke a three-week-old support line and the 50-day EMA as traders await the Reserve Bank of Australia’s (RBA) second rate hike of 2022. Given the steady RSI and recently bullish MACD signals, the quote is likely to rebound towards the 200-day EMA hurdle surrounding 0.7270. However, a clear run-up beyond the previous...