Euro has been up-trending so strongly against pount since May this year, and the reputation of EMA(50) as dynamic support still remains intact. At the moment, EURGBP is re-tracing to EMA(50) which gives a very good potential long setup upon retracement to 0.905 price level. This level has become an important level as it was tested as resistance twice (indicated...
GBPUSD is nearing the 1.3250 resistance level, and based on historical data, there was a rejection at this level once at 2nd of August. Potentially, this scenario may repeat again soon, as both RSI(14) and Stochastic(14) is now at the overbought territory.
I'm still expecting GBPUSD to go a little bit further up (blue arrow) before showing and indication of a...
Based on the 4H chart, I can see a very nice support-resistance and pivot point here. At the moment, price just tested the 0.943 support level with both RSI(14) and Stochastic(14) is roaming around the oversold territory. 0.943 was also a support level during 28th August session, and hence this may be a potential strong support level as well. Plus, a bullish...
Since end of March 2017, 1.45000 price level has become and important key level as there was a shift from resistance to become support line. Another important level is 1.50000 because it is a round number and again, an important resistance level. For the past 2.5 months, EURCAD has been ranging in these 2 important level.
Price is now nearing support level, and I...
1.4870 - 1.4902 seems to be an important support zones for this pair. Based on the chart, we can see this zone has been a good support zone throughout September, and the support may be continue. If it breaks 1.4902 level, I believe it may potential roam to 1.4980 level, as a previous resistance level. It is, at the moment, very clear that EURAUD is in range trade...
As of 8th September, a pin bar has formed at the top of the AUDUSD's bullish trend. Based on the price action, this is a strong sign of the bull is getting weaken. And this is also confirmed with the divergence formed between the price (higher high and higher low) and RSI(14) + Stochastic(14) (lower high lower low). If price can close below 0.804 by 11th...
From the daily chart of GBPUSD, I can see uncertainty on where the direction is about to go, as there are 2 potential setup for this pair :
Long Scenario
The reason why I said this is because EMA(100) has been breached for the past 7 candles. If price are able to break 1.2725 resistance line and move on, it may hit next resistance line 1.2870 which ultimately...
The price has broken out 1200 zone. Before getting Long, tiny pullback against 1200 is what I'm looking to confirm if 1200 will be the next support line. Ultimate target will be 1250, with partial profit will be at the previous resistance line 1220
I have been expecting GOLD to be "in touch" with EMA(20) and EMA(40) and it is (or about to shortly) happening now.
I can see there are 2 potential direction here :
1. If price can close below EMA(20), price will potentially be pushed down to 1170. Why 1170? Because apparently this is the latest most respected (red box) price level after 1127. Bear is gaining...
From the daily chart, it looks like USD is slightly losing its grip against Ringgit, having some hard time breaking out 4.5 zone. Also indicated from movement index that uptrend slight losing its power. But this doesn't necessary mean a good news to Ringgit too. Although Ringgit is starting to get take control since 5th January, we can still see obvious rejection...
GOLD is currently trending high but ADX(40,40) indicates the trend is not that strong (index < 25) compare with the previous downtrend (index ranging between 25 and 28).
TP1 at 1200 has been executed and I'm expecting the price to retest EMA(20) and EMA(40) before it is going towards next S&R (1250). For me, this will be the my TP2.
