Currently Silver is within consolidation on Hourly Chart. It has taken support multiple times in the range of 15.450 to 15.550 which is very akin to 0.382 Fibo Retracement from the previous swing low. Till the time its holding onto that support, the chances of breakout above resistance zone increases and we might get a good long entry.
Good consolidation seen on 4 Hourly Chart of Gold. Biased seem to be Bullish. Will have to wait till breakout before initiating another long trade. If we do see breakout, the price might head till 1315 levels. Right now Patience is the key.
GBP NZD - Daily Chart - After seeing a good downtrend, looks like the pair is trying to reverse. Inverted H&S is still in process. Pattern will be confirmed only on breakout. But seeing at the Chart Structure, looks like it will. Patience is the key here. Now as pattern is identified, we will have to wait for breakout before initiating the long trade. Further, ...
The price is below the moving average 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero level.
If the level of support is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 499.00
• Take Profit Level: 410.00 (8900 ...