


Chart pattern Gold- CCI (50) Bearish divergence (Daily chart) US 10- year yield - CCI (50) Bullish divergence (Daily chart) The near–term support is around $2570, a break below the target of $2560/$2544/$2535/$2520. The yellow metal faces minor resistance around $2590 and a breach above will take it to the next level of $2622/$2650. Indicator (Daily...
Candlestick pattern- Hammer (daily chart) The near-term resistance is around 186.40,a breach above targets 187/188.13 (Sep 9th high).Major trend continuation only above 190. The immediate support is at 185.40, any violation below will drag the pair to 185/184.56/183.58/182.79. It is good to buy on dips around 185.58-60 with SL around 184.56 for a TP of 188.
Gold showed a minor sell-off after mixed US CPI data. It hit a low of $2502.29 at the time of writing and is currently trading around $2512. The yellow metal is trading above 34 and below 55 H EMA in the 4 hour chart ($2507 and $2505). Intraday weakness can be seen only if it breaks below $2485. A break below targets $2470/$2450 is possible. US dollar index-...
Chart pattern- AB=CD pattern. EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10207. According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago. The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch-...
Chart pattern- AB=CD pattern. EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10222. According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago. The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch-...
Harmonic pattern- Bullish BAT Potential Reversal Zone (PRZ)- 155.45-50 Technicals- The pair is trading below 34- and 55 EMA in the hourly chart. The near-term resistance is around 156, a breach above targets 156.56/157/157.60. Overall bias remains weak as long as resistance 160 holds—major bullish continuation only above 163.87. The immediate support is...
In the 4-hour chart CCI (50) and CCI (14) formed a bullish divergence. The pair trades below short-term (34 and 55 EMA) in the 4-hour chart. Major intraday resistance - 1.10544/1.10677. It is good to buy on dips around 1.10365-68 with SL around 1.1015 for TP of 1.10800
In the 4-hour chart CCI (50) and CCI (14) formed a bullish divergence. The pair trades below short-term (34 and 55 EMA) in the 4-hour chart. Major intraday resistance - 1.10544/1.10677. It is good to buy on dips around 1.10365-68 with SL around 1.1015 for TP of 1.10800
Intraday bias - Bullish Horizontal trend line- $605 Any close above $520 confirms intraday bullishness. Indicators ( Hourly chart) Directional movement index -Bullish CCI (50)- Bullish CCI(14)- Bullish It is good to buy on dips around $500 with SL around $470 for TP of $605.
Chart pattern- Descending triangle USDCHF formed a double bottom around 0.8400 and showed a minor pullback. It hits a high of 0.84854 and is currently trading around 0.84765. Intraday trend is bullish as long as support of 0.840 holds. Indicator (1-hour chart) CCI (14)- Bullish CCI (50)- Bullish Average directional movement Index - Bullish. Overall trend...
CADJPY showed a nice jump after upbeat Canadian GDP data. It hits a high of 108.80 and is currently trading around 107.99. The economy rose to 0.50% y/y in Q1 in line with expectations from Q1 0.40%. the yearly GDP grew 2.1% in the Q2 ,well above estimate of 1.6%. Technicals- The pair trades above 34- and 55 EMA in the hourly chart. The near-term...
It is good to buy on dips around 0.8465-67 with SL around 0.8435 for a TP of 0.8540
Gold - Sell on rallies (US session) Gold pared some of its gains on the strong US dollar. It hit a low of $2499.90 and is currently trading around $2500. The yellow metal trades below 34 and 55 H EMA in the hourly chart ($2513 and $2512). Any violation below $2498 (200- H MA) confirms further weakness. A dip to $2490/$2470 is possible. US dollar index- It has...
FxWirePro- NZDJPY trade idea NZDJPY trades neutral with positive bias yesterday. It hits a high of 90.31 and is currently trading around 90.15. Technicals- The pair is trading above 34- and 55 EMA in the hourly chart. The near-term resistance is around 90.31, a breach above targets 90.82/91.80. The immediate support is at 89.85 any violation below will...
GBPJPY showed a minor weakness after forming a double top around 192. It hit a low of 189.61 and is currently trading around 189.99. The Japanese yen gained momentum on Friday due to policy divergence between the Fed and BOJ. Technicals- The pair trades below 34- and 55 EMA in the hourly chart. The near-term resistance is around 192, a breach above...
Horizontal trend line- $405 Downtrend channel resistance- $392 BCHUSD has performed well after a minor sell-off. Any daily close above $390 confirms further bullishness. The pair traded weak after forming a minor top around $525 on May 21st, 2024. Any major trend reversal can happen only if it closes above $525. BCHUSD prices have surged more than 20% in the...
USDCAD surged sharply after upbeat US NFP and dismal Canadian jobs data.The US economy has added 303000 jobs in March, above the estimate of 200000. While the unemployment rate fell to 3.8% from 3.9% the previous month. Average hourly earnings surged to 0.30% vs. a Forecast of 0.20%. It is good to buy on dips around 1.36200 with SL around 1.3570 for TP of 1.37480
GBPJPY has been consolidating in a narrow range between 185.95 and 184.53 for the past week. Any breach above 186 confirms further bullishness. A jump to 187/188 is possible. It is good to buy above 186 with SL around 185.20 for TP of 188