enclavefx_Analaysis

enclavefx_Analaysis

Graphs showing the daily price of gold show that it has been in a downtrend since May. According to the chart, XAU/USD has confirmed a breakout below the support line from November in June. There was a consequent shift in technical bias towards the bears as a result. Prices have since stabilized around the 38.2% Fibonacci retracement level at 1903. The midpoint of...

enclavefx_Analaysis

A descending triangle pattern (dashed black line) can be seen in the daily EUR/USD price action at present, with the 50-day moving average supporting the triangle's support. An impending breakdown of this support zone and a daily candle confirmation could confirm the formation's outcome. There is a possibility that we could see a leg lower towards 1.0800 if this happens  

enclavefx_Analaysis

Based on technical analysis, the recent recovery from horizontal support near $67.00 failed to find acceptance above the 50-day Simple Moving Average (SMA) and failed near a downward-sloping trend-line from May. Bearish traders are favored by the current price action, which forms a descending triangle on the daily chart. Even so, daily oscillators have not yet...

enclavefx_Analaysis

While consolidating yesterday's losses, USD/CAD bulls flex muscles at 1.3240. Wednesday's European session is in its opening hour. Therefore, the Loonie pair rebounded from the 50-SMA. Nevertheless, the quote appears to be recovering on the back of the upbeat RSI (14) line, which suggests further USD/CAD price advances. The pair may encounter immediate resistance...

enclavefx_Analaysis

I t became clear during the analysis that the price has been running in a symmetrical triangle, as provided by the rules. As a result of the reversal, the price has already come back from 1.10000. That is the area that we have marked as a resistance area. Furthermore, we also marked a support area between 1.08400 and 1.07900, which means the price will be...

enclavefx_Analaysis

Despite failing to cross a fortnight-old descending resistance line, near $1,930 at the latest, the Gold Price remains well above the $1,917 support confluence comprising the 200-Hour Moving Average (HMA) and a four-day-old rising support line, which in turn keeps the XAU/USD bulls hopeful of poking the stated resistance line for one more time. It should be...