Softlanding

EURUSD stays defensive near key support line on Fed day EURUSD fades bounce off an ascending support line stretched from early January as market players brace for the US Federal Reserve (Fed) monetary policy announcements on Wednesday. It’s worth noting, however, that the RSI (14) line is nearly oversold and the MACD flags bull cross, which in turn favors the Euro pair’s sustained trading beyond the stated support line, close to 1.0640 by the press time. That said, the quote’s weakness past 1.0640, will make it vulnerable to decline towards March’s b

by MTradingGlobal

Gold bears prepare for another stunt as US inflation looms Gold Price again prods the 200-day Exponential Moving Average (EMA) support, after failing to break the same during late August, within a 2.5-month-old falling wedge bullish chart formation. The sluggish MACD signals and a downward-sloping RSI (14), not oversold, also favor the XAUUSD bears in breaking the 200-EMA support of around $1,910, which in turn will allow the precious metal to test the $1,900 threshold. However, the stated wedge’s bottom line of around $1,880 could challenge the commodi

by MTradingGlobal

Rising wedge lures USDJPY sellers amid hawkish BoJ concerns USDJPY begins the week on a negative note while extending a downside gap during the early hours of Monday. Adding strength to the bearish bias about the Yen pair are the concerns about the Bank of Japan’s (BoJ) exit from the ultra-loose monetary policy easing and a five-week-old rising wedge bearish chart pattern. It should be noted, however, that multiple supports stand tall to test the pair sellers on their way to the theoretical target of the rising wedge confirmation, around 139.20. That sai

by MTradingGlobal

Gold has limited downside room unless it breaks $1,900 Gold price appears well set to print the first weekly loss in three as it defends the previous Friday’s U-turn from a key resistance line below the important Exponential Moving Averages (EMAs). However, the 50-EMA pierces the 200-EMA from below and prints a “Golden Cross” bullish moving average crossover suggesting a corrective bounce in prices. Additionally, the RSI (14) also rebounds from the oversold territory and hence increases the odds of witnessing a corrective bounce towards the EMA conv

by MTradingGlobal

EURUSD remains on the back foot within bearish channel EURUSD braces for the eighth consecutive weekly loss despite the latest hesitance of the bears surrounding the bottom line of the 1.5-month-old descending trend channel. It’s worth noting that the nearly oversold RSI line and sluggish MACD signals suggest a corrective bounce of the Euro pair, which in turn highlights the previous support line stretched from late June, close to 1.0750 by the press time. In a case where the quote remains firmer past 1.0750, September’s peak of around 1.0885 and th

by MTradingGlobal

USDCAD bulls jostle with 1.3640-50 crucial resistance on BoC Day USDCAD bulls struggle to keep the reins at a five-month high as markets await the all-important Bank of Canada (BoC) Interest Rate Decision and the US ISM Services PMI for August. That said, the nearly overbought RSI and impending bear cross on the MACD checks buyers as they attack a convergence of an 11-month-old descending resistance line and a horizontal region comprising multiple levels marked since late April, close to 1.3640-50. As a result, the pair’s upside appears difficult and hence ne

by MTradingGlobal

EURUSD recovery remains unconvincing below 1.1040 EURUSD extends recovery from the 200-DMA, as well as an upside break of a fortnight-old descending resistance line, as markets await the Eurozone inflation data and the Fed’s favorite inflation gauge, namely the US Core PCE Price Index. That said, the looming bull cross on the MACD and upbeat RSI (14), not overbought, also keep the Euro buyers hopeful. However, a clear run-up beyond the previous support line stretched from October 2022, now resistance around 1.1040, becomes necessary to confirm

by MTradingGlobal

Concept of Soft,Hard Landing feat Adani Enterprises 1 ) Monthly Time frame story: This story tells us about the fibo retracement - From the start of the journey of its price action till date, it has given a solid return - Retracement was always pending in this stock. There can be two types - soft and hard landing type retracement 2) Stock has retraced almost 50-60% of its total lifetime move - Only Issue is Daily time hard landing retracement Soft Landing - Stock moving with a zig-zag type formation, that is, making lower lows with lower highs,

by Apoorv-Dubey_SEBI-RA