XAU/USD (GOLD):
Spot gold ceded further ground to its US counterpart Wednesday, down 0.45%. Despite clocking a session high at $1319.3, the yellow metal failed to preserve its upside presence, forcing the H4 below its channel support (taken from the low $1280.4).
The break of the current H4 channel support (now likely to offer resistance) has an initial...
GBPAUD is approaching its support at 1.8361 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.8663 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.
GBPJPY reversed off its resistance at 146.47 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could drop further to its support at 144.63 (horizontal swing low support).
Stochastic (89, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
XAUUSD is approaching its resistance at 1322.33 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 1312.39 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
XAU/USD (GOLD):
XAU/USD bulls, as you can see, lost their flavour at highs of 1324.5 Monday, peaks not seen since late February. Erasing 0.48% Tuesday, the price of gold fell sharply from the underside of a daily supply zone coming in at 1333.1-1323.4, which houses within it a Quasimodo resistance level at 1326.3. This supply commands additional weight in that we...
By all counts, it was a somewhat subdued session Tuesday, ranging no more than forty points on the day (+0.21%). February’s opening level at 0.9939 on the H4 timeframe, as you can see, served as reasonably strong resistance. Overhead, we have a nearby resistance (broken Quasimodo support-turned resistance) at 0.9962, shadowed closely by March’s opening level at...
EURAUD is approaching its support at 1.5824 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5975 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 3.9% where a corresponding bounce could occur.
NZDUSD is approaching its resistance at 0.6935 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 0.6869 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
XAGUSD is approaching its resistance at 15.60 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 15.34 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
AUDCAD is approaching its resistance at 0.9584 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 0.9455 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
USDCAD is approaching its resistance at 1.3467 (61.8% Fibonacci extension, horizontal swing high resistance) where it is could reverse down to its support at 1.3362 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
AUDUSD is approaching its support at 0.7044 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7089 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.1% where a corresponding bounce could occur.
GBPJPY is approaching its support at 143.83 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 146.45 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 2.9% where a corresponding bounce could occur.
EURCAD is approaching its resistance at 1.5214 (61.8% Fibonacci extension, horizontal swing high resistance) where it is could reverse down to its support at 1.5107 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
EURCAD is approaching its resistance at 1.5218 (61.8% Fibonacci extension, 50% Fibonacci retrcement, horizontal swing high resistance) where it is could reverse down to its support at 1.5047 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
USDCAD is approaching its resistance at 1.3466 (61.8% Fibonacci extension, horizontal swing high resistance) where it is could reverse down to its support at 1.3362 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
NZDUSD bounced off from its support at 0.6873 (100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 0.6906 (61.8% Fibonacci retracement).
USDJPY reversed off its resistance at 110.89 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is could drop further to its support at 110.59 (61.8% Fibonacci retracement, horizontal swing low support).
RSI (89, 5, 3) reversed off its overlap resistance where a corresponding drop could occur.
