Fxleaders
Sideways Channel In Gold – Can US Economic Events Cause a BreakoOn the other hand, gold is stuck in a tight range of $1,197 – $1,204. Investors do need a solid reason to violate this trading range. What can it be? Did you see FX Leaders Sep 4 – Economic Event Outlook?
We spoke about ISM manufacturing PMI which is coming out during the New York session. So let’s wait for it. A bearish breakout can lead gold towards $1,190. Whereas, the violation of $1,204 can lead it towards $1,209 and $1,212. Good luck!
Aussie plunged as retail sales figure disappoints Technically speaking, the AUD/USD has plunged dramatically to test 0.7165 support and it’s trading right above the same. The doji and spinning top candles are suggesting that the sellers are exhausted now and bulls may be looming in the area.
So, be ready for it. The AUD/USD can bounce off above 0.7165 to complete 23.6% retracement at $0.7202 and 38.2% at $0.7225. Good luck!
Bullish crossover in gold – Is it going for $1,216?Considering the technical outlook, we opened a forex trading signal to target $1,214.50 with a stop below $1,209. We don’t have much on the economic calendar but the technical levels will remain in play.
Gold sideways channel breakout – Is it going after $1,192?In order to encash this breakout, we just shared a forex trading signal to open a buying position near $1187.52 with a stop loss below $1,184 and take profit at $1,190. Anyway, gold is very likely to go after $1,192 and then $1,196.
USD/CAD – Ascending Triangle Breakout In PlayFellows, I will be keeping a close eye on $1.3060 as the USD/CAD can stay bearish below it until $1.3005. Good luck!
EUR/JPY Trading In Ascending Triangle Pattern – Buckle UpTaking a quick look at the hourly chart of EUR/JPY, the pair is consolidating right below the triple top resistance level of 126.350. Actually, it’s an ascending triangle pattern which at first is representing the neutral sentiment of traders. It’s clearly showing the indecision among traders. Perhaps, they are waiting for some European CPI data to determine their next move.
Gold plunges to 13 months low – Well done ABCD pattern!For the moment, gold is trading near $1,173 after placing a low of $1,160. It recently has formed a sort of a hammer candle pattern on the 2-hour chart. The hammered pattern followed by a strong bearish trend often causes a bullish reversal. That being said, can we expect a bullish reversal?
I wish I could say yes, but gold is still bearish and the violation of $1,181 has opened further room for selling until $1,157 and $1,131. But since the metal is in oversold zone, we may see a bullish retracement in it until $1,181 and $1,187. Stay tuned for more updates!
Aussie takes a bullish turn - Employment report in playTechnically, the AUD/USD is heading north to complete 38.2% Fibonacci retracement near $0.7295. Below this (0.7295), the pair can stay bearish, while a bullish violation of this level can lead Aussie towards $0.7320.
ABCD pattern in Gold - Is it going for $1,181?The recent bearish engulfing candle is suggesting a strong bearish sentiment of traders and it has nice chances to go after $1,187 and $1,181.
Aussie fails to gain support despite rise in wagesTechnically, the AUD/USD is likely to test the double bottom support level of $0.7170. You can't find this setup on the 4 hour or daily chart, but you need to zoom out to the weekly timeframe. Whereas, the immediate resistance can be found at 0.7257.
GBP/JPY Completes 61.8% Fibo While The U.K's Avg Earnings DisapTechnically speaking, the GBP/JPY has already completed 61.8% retracement at 142.250. The same level is working as a solid hurdle for the pair. Taking a look at the 4- hour chart, you can see Japanese cross has formed a bearish candle exactly after testing 61.8% retracement level.
Is it a signal of bearish reversal?
Well, time will tell. But it's worth taking a risk with a small sell position below 142.650 to target 141.852. Good luck!
EUR/JPY Signal Hits Take Profit – What’s Next?For the moment, the EUR/JPY is facing resistance below 20 periods moving average at 126.850. The violation of this resistance can extend the bullish momentum to 127.500, which marks a 61.8% Fibonacci Retracement level. That’s the level where I will be looking to take a sell position today. Stay tuned to FX Leaders’ Forex Signals page for more updates!
Can AUD/USD go for Fibonacci retracement?Technically, the AUD/USD is still stuck in the narrow trading range of $0.7270 - $0.7285. On the 4- hour chart, the commodity currency is trading in the oversold zone which is signifying a potential for a bullish retracement. Aussie is very likely to go after 23.6% Fibonacci retracement level of 0.7300, and 38.2% Fibbo level of 0.7335 today.
USD/CAD – The Pair Enters The Overbought Zone USD/CAD – Trading Plan
Traders are advised to keep a closer eye on $1.3150 as above this level the USDCAD can stay bullish until $1.3180. The bearish violation of $1.3150 can lead the pair towards $1.3130. Good luck and stay tuned as more trade setups are on the cards…
The US Inflation On The Cards – How To Trade Gold Today?Overall, the trend of the yellow metal is bearish, as you can see gold prices are trading below 100 periods moving average. Moreover, the RSI and Stochastic are also holding near 20 (below 50), signaling bearish sentiment of investors.
Let’s say, if the CPI figures disappoint, we may see a bullish reversal in gold, especially if it continues to trade above $1,207 before the news release.
