Gold price licks its wounds around the mid-$2,100s while portraying a choppy move between the one-week-old descending resistance line and $2,148 support confluence comprising the 10-day Exponential Moving Average (EMA) and the previous yearly high. In doing so, the XAUUSD depicts the market’s cautious mood ahead of the all-important monetary policy decision from...
USDJPY makes rounds to 148.00 early Monday as the key week comprising the Federal Reserve (Fed) monetary policy meeting and the US employment report begins. That said, the Yen pain snapped a three-week uptrend in the last while fading the bounce within a three-week-old triangle. While the hawkish hopes from the Fed and likely firmer prints of the US job numbers...
BankNifty Analysis
If you read the postmortem report yesterday, you might have seen how the W pattern formed yesterday and BankNifty respecting the ascending trend line turned out. BankNifty had a different start today vs Nifty because we opened 0.95% gap-up and then rallied another 0.8% to hit the all time highs.
4mts chart - click here
The 2nd rally was...
Nifty Today’s Analysis
Recap from yesterday: “We have the Nifty expiry tomorrow and as it stands the OTM premiums are pretty low indicating the option sellers are not expecting a big more tomorrow. In case we pick a direction tomorrow, the short sellers (PE or CE) will have to run for cover and that could spike the option premiums. I am going with a neutral...
1) USD /CAD moves downside to 1.3700 on weaken US Dollar.
2) The bearish outlook for USD / CAD remain below the 50, 100 AND 200 moving average ( 1 hour TF ).
3) Major support level seen at 1.3655.
Technically, the bearish outlook for USD/CAD remains intact as the pair holds below the 50- and 100-day Exponential Moving Averages (EMAs) on the four-hour chart....
Nifty Weekly Expiry Analysis
Between the last expiry and today, Nifty has accumulated 299pts ~ 1.59% points. Most importantly it has broken away from the crucial support of 18880. As it stands Nifty is below the resistance of 19310 - but with the momentum it has gathered, seems like it will get tested this weekly series.
Nifty Today’s Analysis
Recap from...
Nifty Analysis
Recap from yesterday: “Since we retraced the 38.2% level of 19226 today and the reluctance to go up might be confidence-building for the bears. Also the 23.6% level forms a base for further movements. The issue is that we cannot go outright bearish now, we need further proof of that. Ideally, the 18880 support has to be taken out and that too pretty...
Softer prints of the Eurozone inflation joined the overall risk-off mood and slightly upbeat US data to drag the EURUSD pair down on Tuesday. Adding strength to the bearish bias are the hopes of witnessing one more rate hike from the US Federal Reserve (Fed) during 2023, as well as the bearish MACD signals and steady RSI. However, a one-month-old ascending trend...
Gold maintaining the bullish structure and moving higher day by day and now trading above 2000.On Daily TF also it is under bullish pressure and maintaining the HH structure.
This week main event is FOMC and before that we can expect some range bound trend but as you know that current gold bullish rally is also supported by middle east war.
On Intra day TF watch...
MAJOR TECHNICAL LEVEL
R1 : 1873.47 | R2 : 1875.09 | R3 : 1878.05
S1 : 1864.31 | S2 : 1865.93 | S3 : 1868.89
CANDLESTICK FORMATION
Inverted hammer candle formation in intraday time frame. There are major technical indicators show strong buy zone in hourly, daily and weekly time frame.
Nifty Weekly Analysis
Nifty has fallen 354pts ~ 1.76% between the last expiry and today. Interestingly the price action on 15th and 18th stands out as an isolated island. Almost 90% of the fall came in the last 2 days which has even changed the sentiment.
Nifty Today’s Analysis
Recap from yesterday: “For further down move we need that gap to be taken out on...
EURUSD pares weekly losses within a fortnight-long falling wedge bullish chart formation ahead of Fed Minutes. The major currency pair’s rebound appears more interesting as it stays beyond the 200-EMA amid a steady RSI (14) line, suggesting further upside. However, the Euro bulls need to carve out the 1.0920 hurdle to confirm the bullish pattern pointing towards...
The beast in banknifty got unleashed today, after a long gap banknifty options really started surging today! You wont believe the OTM prices went above the traded range of Wednesday, that too today being an expiry day!
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BankNifty Weekly Analysis
During the current expiry week 9th to 15th June, banknifty shed 556 pts ~ 1.27%. You may not believe that 544pts i.e...
still there is another weekly high broken , but price is getting slowdown. which can break the bulling price even as it is in the monthly supply , still no confirmation of entry , just a view. lets see
Just look at the 5mts chart of NSE:BANKNIFTY today - what do you see? I see the strength of the bulls. Even though the opening was gap-down and below the support line 43253, banknifty managed to scale back by 10.45.
The first attempt was rejected - rightly so because NSE:NIFTY was looking weak and the market participants would have anticipated more selling...
After pleasing buyers for six consecutive weeks, Gold prices are finally on the bear’s radar even after bouncing off $1,900 round figure the previus day. The rising wedge confirmation and bearish MACD signals do favor the metal sellers ahead of the key event. However, the downbeat RSI and a likely dovish rate hike challenge the downside bias. That said, a...
