GOLD retraced back to the trendline (lows 1180 and 1194) and has performed a four days run to the upside. The price isn’t so convincing because the daily candles have very small range. However XAUUSD is facing an important horizontal resistance which we may call it “make or break”. If price breaks out, then the next resistances are 1248 and 1262. There are good probabilities for sell opportunities if price manages to climb to these areas. On the other hand, if price breaks out the rising channel to the downside, then GOLD may see the lower trendline again.
Following up our post, EURJPY reached the neckline zone while it’s currently consolidating within this area. Previously, it bounced both times to the upside. However, the pair needs to keep intact the 131.9 on the daily TF. Daily Heading to the hourly TF, we have noted a bearish pattern (ABCD or Flag). Both patterns are […]
Beginning with the Asian session, a significant rally is taking place in equities markets. During the writing of this recap, the Japanese Nikkei225 futures are recording a 1.0% increase since yesterday’s close, the Chinese 50 index at +1.25% , the German Dax30 futures at +0.38%, the UK FTSE100 at +0.62% and the US S&P500 at […]
Good Morning, – U.S. shares ended mildly lower after a volatile session, bucking the trend of overseas indexes, which fell sharply as weak data in Europe and China underlined the uncertain growth outlook. – Asian shares: Japan’s Nikkei +0.89%, Hong Kong’s Hang Seng -0.17%(07:00 GMT), Korea’s Kospi +0.22%, Australia’s ASX 200 -1.52% and […]
