FxWirePro

It is good to sell on rallies around 7185-90 with SL around 7230 for the TP of 7051

Gold’s bearish engulfing pattern engulfs consolidation phase momentarily – Trade boundaries and long hedge as major trend intact: Technical glance: Gold (XAUUSD price) has continued to sense selling sentiments after bearish engulfing formation at $1,337.77 levels (on 4H plotting). Consequently, bears have taken-off slumps below DMAs. For now, previous bullish...

It is good ot buy above 145 with SL around 144.35 for the TP of 146.50

Bitcoin price extended its recent rallies after it broke-out decisively the resistance zone of $3,675 - $3,750 mark against the US Dollar. BTCUSD price has surpassed $4k mark to extend bullish streaks and hit 6-weeks highs (refer above chart). In this process, the minor trend of this pair has formed a wedge pattern. Although the current price spikes above 7-DMAs...

It is good to buy above 1.00210 with SL around 0.9990 for the TP of 1.0065/1.0080.

EUR/GBP hammer supports interim bulls, shooting stars develops bears in range-bounded trend – Trade and hedge via ratio spreads: Technical chart and candlestick patterns: EURGBP bears have shown their bearish effects in a broader perspective after RSI’s bearish divergence as stated in our previous post.  While on 2H chart, the hammer has occurred at 0.8690...

It is good to sell on rallies around $1346-47 with SL around $1352 for the TP of $1331

EURUSD has pared most of its loss yesterday and jumped nearly 80 pips on broad based US dollar buying. The improvement in risk sentiment on account of US-China trade talk optimism has reduced safe haven demand. The pair hits high of 1.13575 and is currently trading around 1.13419. The narrowing of spread between US and German bund is also supporting Euro. The...

EUR/USD hammer takes-off rallies above 7-DMAs, major downtrend resumes at channel resistance – Trade one-touch calls and short hedge: EURUSD forms hammer patterns candle at 1.1290 levels, ever since then the bullish streaks are observed 3 days in a row. The interim upswings are backed by momentum indicators; the current prices are spiking above 7-DMAs to fall...

It is good to buy on dips around $0.02500 with SL around $0.02360 for the TP of 0.03125

Technical and Candlestick Patterns: WTI crude prices have been spiking higher in the recent past to hit 3-months’ highs. Bullish engulfing takes-off rallies, interim upswings boosted by momentum oscillators, more rallies likely on bullish DMA & MACD crossovers (refer daily chart). Both leading oscillators (RSI and Stochastic curves) are showing upward convergence...

The RBA minutes will provide some further information on the Board’s view but most of the detail has already been revealed in Governor Lowe’s speech and the Statement on Monetary Policy. On RBA minutes, Aussie has attempted to rally up to 0.7116 levels, the pair should now remain in the upper part of the past week’s range around 0.7150 levels. In AUDUSD minor...

It is good to buy above 143 with SL around 142.40 for TP of 144.15

It is good to buy above 1.13100 with SL around 1.12570 for the TP of 1.1400.

EUR/GBP’s Bears Dance as per RSI Divergence But Major Trend Still Imminent – Trade Ratio Spread: As stated in our previous post, EURGBP bears have shown their bearish effects after RSI’s bearish divergence.  Technical chart and candlestick patterns: On daily terms, back-to-back shooting star patterns have been appeared at 0.8821 and 0.8820 levels respectively...

CAD/JPY Double Top Formation in Minor Trend, Head and Shoulder in Major Trend – Trend Tunnel Spread and Short Hedge: Take a Glance at Technical analysis: CADJPY forms shooting star, hanging man and bearish engulfing patterns at 83.762, 83.756 and 83.144 levels respectively on the daily chart. These streaks of bearish patterns nudge the current price way below...

It is good to $1306-07 with SL around $1300 for the TP of $1334

Technical Analysis: Bias Bearish - Price action below major moving averages and cloud - Recovery rejected at 55-EMA, Stochs and RSI are sharply lower - MACD is on verge of bearish crossover on signal line - Price action has broken strong trendline support at 1.6550 Support levels - 1.6422 (Dec 12 low), 1.6329 (Dec 5 low) Resistance levels - 1.6550 (trendline),...