zuoertai

zuoertai

It seems the price has formed a downward triangle, while it is still very unclear that which direction the price can go based on following reasons: 1. There is not much room underneath for the short side market that I would expect some support 2. Brexit news is unpredictable that price does not really follow it, unless something really big happens - If price...

zuoertai

Price had a wierd movement last night even if budget conflict between EU and Italy turned out to be worse. Meanwhile the whole structure still shows a bearish trend. Plan: If the price stays under around 1.14055 and meets obvious resistance, short position is suitable. Take profit at either 1.13530 or 1.13245. Fingers cross for no more strange flucutation.

zuoertai

Reasons for short: 1. Price met strong resistance at upper downward trend line and also broke the upward trend line. 2. MACD shows market is in downside. 3. Tonight's data from the US is likely to be in favor of DXY Thus, Short at around 1.13950. Take profit at around 1.13250

zuoertai

Gold price is potentially on the downside again based on following reasons: 1. Price broke the upward trend line since November 15th. 2. MACD is about to going through the zero line and into the short side market 3. Resistance from downward trendline seems to be very strong. 4. RSI, KD and MACD all show top-side divergence which means price is going down Today,...

zuoertai

Two possible movements and plans: 1. Short at around 1.28400 and take profit at around 1.27300 2. If the market is lack of retracing momentum, short at around 1.28060 and take profit at around 1.27300

zuoertai

Another ascending triangle has formed right after the previous one. Two possible strategies: 1. Wait until the price breaches 1225 and then take long position to 1236 2. Risk takers may short with small lot at around 1225 if resistance holds.

zuoertai

Technically, an ascending triangle has formed on the chart with upward trend line offers support and 1.28800 provides resistance. However there is no way to predict how Brexit is going to turn out. So keep this structure in mind and wait for signal.

zuoertai

Important support region at 1218-1220. Wait and see if this region holds during the day. If the market indeed turns bullish once again, take long position and take profit at 1236

zuoertai

Just a small adjustment of possible starting point of taking short position.

zuoertai

Possible movements are shown on the chart.

zuoertai

Short at around 113.100. TP1: 112.473 TP2: 112.050

zuoertai Updated 

1. 1.30400 region offers very strong resistance. The price is currently pulling back and likely to retreat back to the strong support region at around 1.29200 2. The market has become more optimistic than yesterday that I would expect another long opportunity during the evening. ====> Buy at around 1.29200 as long as this region holds again. Take profit at...

zuoertai

Wait for the market to retest the vital support level at 1.13000 in order to determine if we can take long position. EUR is likely to get support as long as GBP gets positive news. Second support at around 1.12800.

zuoertai Updated 

1. Price has breached downward trendline so upward momentum is potentially forming. 2. Gold price is currently flucutating without obvious directoin. 3. DXY is likely to go down further since GBP and EUR will continue go up. ====> BUY gold ONLY IF the price stands firm 1205-1206. TP1: 1212-1214 TP2: 1220

zuoertai

1. Market is optimistic about Brexit in general and good news keep coming. 2. 1.29500 has formed a support. Now we need to confirm if 1.29800 also becomes a support level. 3. 1.30400 is a very strong resistance, because it's near the downward trend line and Fibonacci 61.8. Wait to buy at a lower position will be wiser. ===> BUY T/P 1:1.30400 T/P 2: 1.31400

zuoertai

1. The market is optimistic about Brexit in general, which will positively impact EUR against USD 2. The price has already breached downward trend line that was formed since November 7th. 3. RSI is nearly at over-bought while KDJ is already at over-bought. Price will pull-back a little. 4. Once 1.13000 is confirmed as a support, long position is suitable....

zuoertai Updated 

Previous post I mentioned that 1204 region would provide resistance and it turned out to be somewhat true. We shall continue our short position ONLY IF price breaches and upward trend line as well as 1200 region. Let see how it goes.

zuoertai

1. EUR is expected to continue its downward trend after small pull back 2. Fundamentally, uncertainty about Italian budget and Brexit issues remain. Red arrows: Ideally, we shall wait until price pulls back to 1.13000 to take short position, take profit at 1.16000 Green arrows: however, the market does not always go very ideal as yesterday also approved that....