USDCAD extends the week-start pullback from a three-week high inside an upward sloping trend channel established since late October 2021. Given the downbeat RSI and the bearish MACD signals, the Loonie pair is likely to remain pressured inside the bullish chart formation. However, the 100-DMA support near 1.2785 could challenge the bears. Also acting as a downside...
Although 20-DMA triggered the NZDUSD pair’s latest rebound, the first weekly loss in three joined RSI retreat to keep bears hopeful. The downside momentum, however, needs validation from the three-month-old horizontal support area around 0. 6210-0.6195, other than the 20-DMA level of 0.6225, to push back the buyers. Following that, the previous monthly low, also...
USDJPY broke a five-week-old support line, as well as a horizontal area around 134.25 that comprises the levels marked since June 17, to refresh the monthly low near 133.75. It’s worth noting, however, that oversold RSI conditions challenge the bears ahead of the US PCE Price Index for July, the Fed’s preferred inflation data. However, the corrective pullback...
NZDUSD ended the third loss-making week on a positive side, by marking the biggest daily gains in three weeks. The Kiwi pair, however, couldn’t cross a one-month-old resistance line, which in turn joins steady RSI to keep sellers hopeful. Even if the quote rises past 0.6170 hurdle, a horizontal area from mid-June around 0.6200, comprising the 100-SMA, appears a...
Gold braces for the fifth consecutive weekly fall at the yearly low. However, oversold RSI challenges the bears as they approach the $1,690 support confluence, comprising 61.8% Fibonacci retracement of March-August 2020 upside and an ascending trend line from May 2020. If the precious metal posts the weekly close below $1,690, it becomes vulnerable to testing the...
AUDUSD justifies its risk-barometer status aptly as it remains near the two-year bottom, inside a 12-day-long bearish channel. The quote’s further downside, however, appears limited in the short-term due to the nearness to the stated channel’s lower line, close to 0.6690 at the latest. That said, the 61.8% Fibonacci Expansion (FE) of June 16 to July 05 moves, near...
With the major data in line that is US - CPI data which is expected to come positive the Gold is set for another bullish run . With the falling wedge formation the support will be 1718-1720 Target 1 : 1775 Target 2 : 1805 Stop loss : 1710
EURUSD bears take a breather after refreshing the 20-year low the previous day. The corrective pullback, however, takes place at the lower end of the nearly four-month-old bearish channel. The rebound also gains support from oversold RSI and that too is ahead of the key US CPI data. Hence, sellers need caution and look for a clear upside break of the 78.6%...
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After the last fall in gold with strong USD , gold needs correction before the final fall to 1700-1680 level. For the corrective ABC wave we are putting the target of 1774 and a stop loss of 1730 with the entry from 1739. BUY GOLD FROM 1739 TARGET 1774 STOP LOSS 1730
AUDUSD holds onto its bounce off a downward sloping support line from late January, as well as the 61.8% Fibonacci Expansion (FE) of April-June moves as traders await the Reserve Bank of Australia’s (RBA) third rate hike. Nearly oversold RSI also hints at the quote’s further recovery, in addition to the hawkish hopes from the Aussie central bank. The upside...
USDCHF snapped a two-week downtrend while bouncing off 100-DMA and a horizontal area from April 20. The corrective pullback, however, failed to provide a daily closing beyond multiple hurdles surrounding 0.9620. That said, the MACD and the RSI (14) also hint at the pair’s weakness ahead of June’s Consumer Price Index (CPI) for Switzerland. It’s worth noting that...
It's just an idea overlooked but i think this will happen as we haven't got any big flush after great depression. And spx always in hang in situation will think this might happen in upcoming years
Despite the recent rebound, AUDUSD holds onto the downside break of fortnight-old support amid an absence of oversold RSI, which in turn hints at the pair’s likely to rush towards refreshing yearly low. However, the latest bottoms surrounding 0.6850 and 0.6830 may act as intermediate halts during the fall. That said, the 61.8% Fibonacci Expansion (FE) of June...
Falcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 27 – July 01 ) Last Weekly Nifty witness resistance @ 15722 , while the pivot @ 15454 was held almost throughout the week. Technically for this week on the daily charts minor support on the downside for Nifty50 index lies at 15546 levels, whereas minor resistance on the upside is capped around ...
Gold BULLISH signal . Elliot wave analysis. Wave 1 completed BUY BETWEEN 1832-1830 Target : 1850 Stop loss : 1820
EURUSD again bounces off the monthly low as sellers flirt with a horizontal area surrounding multiple levels marked since April. That being said, RSI and MACD back the major currency pair’s mid-week retreat, which in turn hints at the break of the immediate support zone near 1.0490-80. The following downturn could aim for the yearly low close to 1.0350 before...
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,...