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Aud-chf

AUDCHF approaching resistance, potential drop!AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance, 61.8% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.6954 (horizontal swing low support, 38.2% fibonacci retracement). Stochastic (89,5,3) is also approaching our resistance and seeing a bearish divergence where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance , 61.8% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.6952 (horizontal pullback support , 38.2% fibonacci retracement). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
1
AudChfA potential short opportunity on AudChf. Price has been sold off on the Daily time frame and hitting the next key support zone. What I will be looking for is some deceleration and slow down on the Daily chart along with the 4 hour. I would like to see a double bottom pattern form on the 4 hour chart for conformation of a reversal, along with a break and re-test of the 1 hour chart. Before looking to go long I would also like to see it line up with any fib zones for extra confirmation of a trend change. The more confluences the better!
Long
by mattmach
Gold remains on target to hit $1246/50Gold is seen to be trading around $1238/39 levels at this moment in writing, pretty close to hitting the first soft target at $1246 levels at least. The wave structure remains intact with Wave C progressing well towards $1250/70 levels respectively. Please note that Gold has taken out its first resistance at $1236 levels and could retrace lower a bit before rallying further. In either case, buying on dips remain to be a safe trading strategy for now. The next price resistance is at $1243, while support is seen at $1212/16 levels respectively. Please note that if Wave C is unfolding as an ending diagonal , we could see a drop lower soon before it produces the last leg higher towards $1250/70 levels. Overall, the medium term bullish structure remains intact for now and buying on dips against $1212 levels could be a favored trading strategy. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
FX_IDC:XAUUSDLong
by FXTM
2
Dow Jones tops at 26000 levels?The Dow Jones Industrial average rose up to 26000 levels yesterday, before reversing lower. The indice is seen to be trading at 25830 levels at this point in writing (spot) and it might have topped out yesterday. Looking into the wave structure, Wave (2) of higher degree is being worked out as a potential flat or triangle. We had discussed earlier that if prices fail to break below 24100 levels, we could see a sharp rally that could test 26300 levels before reversing lower again. Now, it seems that Dow has hit the minimum expectations at 26000 levels and possibly reverse from here. If the above wave structure holds to be true, we could see a bearish reversal from here or around 26300 levels going forward. It is a safe trading strategy to remain short or open fresh short positions with a risk above 26950 levels and potential targets below 23000 levels respectively. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
1