AUD/USD is extending the bounce from the 0.7311 monthly low of 21 November, but difficulty is seen sustaining further gains as short-term studies turn mixed. Congestion around 0.7600 is expected to provide a strong barrier, as investors remain cautious, with prices to settle into consolidation above 0.7305. An unexpected break below 0.7311, however, will turn...
EUR/USD is balanced in choppy trade above the 1.0538 low of December 2015, as short-term studies turn mixed. Fresh losses are looked for in the coming weeks, however, as momentum studies and the Tension Indicator, (not shown), continue to weaken, with a break below critical multi-year support at the 1.0456 low of March 2015 opening up the 1.0330 year low of...
Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point. Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold ;) Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big...
We are still waiting for yen to pass through the 106 area to confirm that price trend is once again up. eeetradinganalysis.wix.com
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
Unlike Gold, Silver may still move one step high reaching 17.55 before turning bearish.
Last week, Aussie did retrace up to 0.7500 level but wasn't able to reach our max target at 0.7570. Price temporily corrected down, and while it is still contained inside the bullish channel (yellow), we can still see this pair rally toward its 61.8% retracement or even higher.
Last week, Euro did make a new high at 1.1420 before price declined. For the moment, we may see price rise up again towards 1.1325 - 1.1345 before becoming bearish again.
Cable was not able to move up to our target from our previous analysis. Instead, it continued moving down, which tells that a top has been formed already. Price has room towards its 1.618% fibonacci level at 1.4055 before it corrects up.
Cable's movement shows it is still on its corrective stage which might top at 1.4675 - 1.4730 areas.
Euro managed to rally for days, making new highs, targeting a 61.8% retracement around 1.1420 before price starts to decline.
We adjusted our view with AUDUSD, believing that a bottom has been placed already last 24th of May. Hence, current price may retrace up towards 0.7490 - 0.7570.
Yen may continue to move lower. A break below previous low 105.54 would lead us to consider the alternate view of this market. Profit targets 106 area before bulls come to play.
Oil is moving sideways inside the blue channel . A break below signals bearish trend, especially when red channel is broken around 48.25.
Please see annotated chart for details.
Cable it seems is still contained inside a bullish channel. Price already retraced past its 61.8% retracement, and could still go on. Invalidation level is set at 1.4769 which when breached, will make us stick to our alternate view.