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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
NZDJPY -RANGE BOUNDDescription: The counter NZDJPY is in the parallel channel from 08th March. The price is moving between the price range of 78.06 and 77.14. The flat-top resistance and the support baseline have been tested twice. Identifying the trend of the counter is very difficult when it is in the parallel channel. Swing trading is more preferable for this counter. Stop loss is mandatory while executing swing trading. The levels of the stochastic indicator will be very useful for swing trading. The major levels for this counter are R2 –78.35 R1 –77.99 PP –77.69 S1 –77.33 S2 –77.04
by WohlstandMarketsLimited
AUDCAD - SHORTDESCRIPTION The counter AUDCAD forms a descending channel . The counter's prices is moving between the top and bottom line of the channel from 05th February. The formation of the descending channel indicates the counter is in a bearish mode. The price is accumulating near the top line of the channel for the past 24hrs. Since the price didn't break the top-line, the bearish mode may continue further. The down-sloping movement of the MACD curves gives additional support to the description. If it breaks the top line of the channel, then there may be a chance of trend reversal. The major levels for this counter are R2 –0.9789 R1 –0.9767 PP –0.9751 S1 –0.9728 S2 –0.9712
Short
by WohlstandMarketsLimited
GBPUSD - LONGDescription: The counter GBPUSD is moving upwards in the support trend line from 11th January. The counter has tested more than twice on the support trend line . The previous entry of the counter is at the price of 1.3651. Since then there is no indication for a breakout or a trend reversal. Therefore long is more preferable for this counter and the bullish trend may continue further. The upward movement of the MACD indicator curves gives additional support to the description. The major levels for this counter is R2 –1.3831 R1 –1.3783 PP –1.3696 S1 –1.3649 S2 –1.3562
Long
by WohlstandMarketsLimited