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US-DOLLAR

USD/JPY has no resistance on TuesdayThe US Dollar found support against the Japanese Yen on Tuesday morning. Namely, the lower trend line of a medium term channel up pattern provided the needed support to stop the recent short lived decline. Moreover, during the morning hours the currency rate passed the 55-hour simple moving average’s resistance at 111.20. The SMA began to provide support shortly afterwards. Meanwhile, the pair faces no notable resistance as far as the 111.80 level, where close by a monthly pivot point is located at. Due to these factors combined, a surge in the upcoming trading sessions could be expected, during which the pair might gain 60 base points.
by UnknownUnicorn890690
GBP/USD daily overviewThe Pound has broken the resistance of a medium term descending pattern against the US Dollar. However, the resulting surge was stopped by a dominant descending pattern’s resistance line together with the 61.80% Fibonacci retracement level at the 1.29 mark. On Tuesday morning the rate had bounced off the resistance line and retreated already down to the first support level that paused its decline. Namely, the 100-hour simple moving average stopped the decline. In regards to the future, watch the SMAs for guidance. If they get passed, the weekly PP will be aimed at. On the other hand SMAs might push the rate higher.
by UnknownUnicorn890690
EUR/USD daily overviewThe previously observable dominant descending patterns on the EUR/USD chart were removed on Tuesday, as the surging momentum of the rate has managed to break both of them. Meanwhile, the rate continues to surge in the borders of a medium scale ascending pattern, which, together with the 55 and 100-hour simple moving averages, has provided the rate with the needed support. Namely, the rate has surged up to the resistance of a monthly pivot point near the 1.1690 level. On Tuesday, the rate was consolidating its previous gains and waiting for the 55 and 100-hour SMAs to catch up before continuing the surge.
Long
by UnknownUnicorn890690
GOLD What the hell just happend????This was a really exiting week for those of us who trade Gold. Gold was coming from a long bearish market but on the 15th of august things took a turn, the possibility of an impeachment looms over the US president and Powell announcing the need for gradual hikes in the interest rates, in my opinion were the main drivers of the change in a bullish USD and thus a bearish Gold. Of course, for someone like me it was impossible to know this until now, but the markets did, and I think they showed some signs during the week. On my part I now think we are in a small bearish market for gold, so I’m only planning on taking long positions along the way. I see a possible retracement to 1203 – 1200 for me that when I will buy again and I’m going to venture to say that I don’t think it will be trade below 1200, why?? Because of the volume traded through todays breakout this was some big institutional. BUT DON’T QUOT ME ON THAT I COULD BE WRONG Have a nice weekend all
TVC:GOLDLong
by juanfmarin
2
USD/THB 1H Chart: Reveal of dominant patternThe previous review of the USD/THB currency exchange rate concentrated on the newly formed less steep bullish pattern. On Tuesday, the pattern was still in force, as the currency exchange rate was declining in the borders of it. However, something else attracted the attention of Dukascopy Analytics. Namely, a long term, large scale channel up pattern was spotted on the larger time frame charts. It might be possible that in the near future the bounce off from this trend line forces the rate lower and gives it enough strength to break the medium scale ascending pattern. However, in the short term watch the support of the 55-hour simple moving average, which clearly provided support on Tuesday.
by UnknownUnicorn890690
USD/CNH 1H Chart: Declining patterns is brokenAfter scoring a new high level last week, the USD/CNH currency exchange rate had declined throughout the second half of the week. During that time various patterns were broken. Because of that reason a review of the pair is conducted. The pair has revealed a large scale descending speculative pattern, in the borders of which a medum term channel down pattern was located at. Although, on Monday the descending pattern was already broken by a junior scale channel up pattern. The ascending pattern is most likely just representing the first move in the borders of a new to be discovered medium size pattern.
by UnknownUnicorn890690