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Gbp-nzd

GBPNZD approaching support, potential bounce! GBPNZD is approaching our first support at 1.9621 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 2.003 (horizontal swing high resistance, 50% Fibonacci extension). Stochastic (55,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Long
by Tickmill
4
GBPNZD approaching support, potential bounce! GBPNZD is approaching our first support at 2.000 (horizontal pullback support, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 2.0198 (horizontal pullback resistance, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (89,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
3
Gold might have carved a higher bottom at $1182.66Gold rally towards $1196 levels instills further confidence that a higher bottom could be in place at $1182.66 levels already. The yellow metal may not produce another low before rallying further towards $1250/70 levels, going forward. Also, another push through initial resistance at $1208/09 levels will confirm that the yellow metal is in control of bulls and that any correction would remain well above $1182.66 mark. If the above structure holds well, we could see Gold prices unfolding into 5 waves from here towards $1250/70 levels at least. We maintain our medium term bullish bias in the yellow metal for now. 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
15
US Dollar Index diverges with EURUSD price action!The US Dollar Index failed to produce a new high while EURUSD tested 1.1460 levels yesterday. We would like to bring to your notice that this is a diverging scenario, which could indicate a potential trend reversal ahead for the respective instruments involved here. Also note that interim resistance remains at 96.00, followed by 96.12/20 levels and till prices remain below that, we could expect US Dollar Index to head south. Looking at the entire wave structure again, an impulsive drop, labelled as Wave A, has been followed by an expanded flat correction labelled as Wave B potential at 96.12 levels. If this holds well, the next major move could be an impulse drop towards 92.00 levels going forward. 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.
TVC:DXYShort
by FXTM
8
EURUSD still needs to break above 1.1600The EURUSD has bounced off expected support zone of 1.1450/1.1500 levels for now. But please note that bulls stil need to push above initial resistance at 1.1600 levels to confirm a bullish reversal could be in place. Also note that EURUSD is testing its trend line resistance for now, and a clear break on the north side would instill further confidence in the bullish setup. As an alternate count, a break below 1.1463 now, could push lower further into 1.1400 zone. Looking at the structure for now, confidence could be on the higher side to go long. Conservative trading strategy would be to allow a break above 1.1600 levels and look to buy on dips. 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.
Long
by FXTM