Fxleaders
GBP/USD Stuck In Asymmetric Triangle – Breakout awaited on BOEGBP/USD – Trade Idea
Investors are advised to keep a close eye on $1.3090, below this, the GBP/USD can give us a selling opportunity to target $1.3025 and $1.2965. While, above this (1.3090), the pair can stay bullish until $1.3170 and $1.3220. Good luck!
Gold Steady On Monday - Trump Weakens the Dollar Gold - XAU/USD - Trading Plan
As a result of bearish engulfing, we opened a forex trading signal to stay bearish below $1,231 with a stop above $1,234 and take profit at $1,227. The market may exhibit thing volatility but we need to keep the patience to get out target price. Good luck!
USD/CAD – Ascending Triangle to PlayI would also like you to notice the ascending triangle pattern which is providing resistance at $1.3350. The ascending triangle patterns indicate the bullish bias of traders and typically break on the upper side. The USD/CAD can find an immediate resistance near $1.3285 and $1.3350. The violation of $1.3350 can lead commodity currency towards $1.3550.
Ahead of the news, I will be looking to stay bullish above $1.3235 with a stop below $1.3200 and a take profit at $1.3280 and $1.3355. Good luck and have an awesome weekend!
BTC/USD – Asymmetric Triangle BreakoutBitcoin is trading with a bullish bias after coming out of an asymmetric triangle pattern. The pattern was providing a solid resistance near $6,800. For the moment, BTC/USD can face an immediate resistance near $7,735. The violation of this level is likely to open further room for buying until $8,335.
GBP/JPY – Active SignalThe Japanese cross has dipped over the unexpected drop in the U.K. retail sales figures. However, the GBP/JPY seems to gain support near 146.150. As we can see, the pair has formed a test bar, signifying the sellers seem to exhaust and bulls may take over the lead. On the upper side, the GBP/JPY is likely to face resistance near 146.750 and 147.150.
Crude Oil Slips Below $70 – API Report AwaitedWhat’s on the technical side?
As you can see on the daily chart, crude oil has dropped below 70, crossing 50 periods EMA from the upper side. For the moment, it’s trading above a bullish trendline support at $66. The leading indicator RSI is entering the sell zone.
Gold Testing Crucial Level – Check out the Weekly OutlookThere’s a bullish trendline which is supporting the pair near $1,237.
200 periods moving average is also supporting gold near $1,237.
The same level $1,237 also supported gold back in April 2017 and in July 2018.
The leading indicators, RSI and Stochastics are massively oversold and are holding below 20.
Is there any chance of bullish reversal?
Yes, there’s a nice chance of bullish reversal but we should wait to see this week’s closing. A weekly close above $1,237 can give us an opportunity to capture retracement in this safe-haven asset until $1,275. Good luck!