Category: Technial Analysis

• Gold broke pivotal support level 1790.00• Likely to fall to support level 1755.00 Gold is under strong bearish pressure after the price broke the pivotal support level 1790.00 (which has been repeatedly reversing the price from last December). The breakout of the support level 1790.00 accelerated the active impulse waves (iii) and 3 – […]

• EURUSD broke multi-year support level 1.034• Likely to fall to support level 1.020 EURUSD recently broke through the key support level 1.037 (which stopped the previous impulse waves (3) and 1, as can be seen below). The breakout of the support level 1.037 led to the breakout of the major multi-year support level 1.034 […]

• EURCHF broke support level 0.9975• Likely to fall to support level 0.9850 EURCHF recently broke the key support level 0.9975 (former multi-month low from the start of March). The breakout of the support level 0.9975 continues the clear multi-month downtrend and is aligned with the active impulse waves 3 and (3). Given the strongly […]

• USDCAD reversed from resistance level 1.3075• Likely to fall to support level 1.2965 USDCAD recently reversed down from the key resistance level 1.3075 (the previous monthly high from May and June). The resistance area near the resistance level 1.3075 was strengthened by the upper daily Bollinger Band. Given the bearish divergence on the daily […]

• GBPJPY reversed from support level 160.50• Likely to rise to resistance level 164.00 GBPJPY currency pair recently reversed up from the key support level 160.50 (which stopped the previous wave (2) in the middle of June). The support level 160.50 was further strengthened by the nearby lower daily Bollinger Band and the support trendline […]

• EUR50 reversed from support level 3400.00• Likely to rise to resistance level 3560.00 EUR50 index recently reversed up from the key support level 3400.00 (the previous monthly low from June and March). The support area near the support level 3400.00 was further strengthened by the lower daily Bollinger Band. Given the strength of the […]

• AUDCHF rising inside impulse wave (3) • Likely to rise to resistance level 0.6750 AUDCHF currency pair continues to rise after the earlier upward reversal from the key support level 0.6510 (which has been reversing the pair from the end of January). The upward reversal from the support level 0.6510 started the active intermediate […]

• EURGBP broke key support level 0.8500 50• Likely to fall to support level 0.8430 EURGBP currency pair recently broke the key support level 0.8500 (which stopped the previous waves a and (4), as can be seen below). The breakout of the support level 0.8500 coincided with the breakout of the 50% Fibonacci correction of […]

Gold Prices Plunge It’s been an interesting week across the board in markets with many noteworthy moments; hawkish minutes releases from the Fed and ECB, the UK PM resigning, oil falling and rising, there’s been plenty of action. However, talking with traders today ahead of the weekend it seems the main focus for most has […]

Type: Bullish Breakout Key Levels:Resistance: 141.384Pivot: 136.701Support: 134.271 Preferred Case:On the H4, with price moving along an ascending trendline and bouncing off the ichimoku support, we have a bullish bias that price will rise to our pivot at 136.701 in line with the swing high resistance and 100% fibonacci projection. Once there is upside confirmation […]