It has broken significant resistance 1.0500 after a long consolidation. A jump to 1.0645/1.0700 is possible Minor support 1.0465//1.03900.
It is good to buy on dips around 1.05325-50 with SL around 1.04700 for TP of 1.06450/1.0700
EURUSD took support near 55-4H EMA and showed a nice pullback. Major weakness only below 1.022 level. Bullish continuation level- 1.0500.
It is good to buy on dips 1.03850-55 with SL around 1.3300 for a TP of 1.0500
GBPJPY pared some of its gains after hitting one week high on a strong yen. Any break below 167.30 confirms further weakness. It is good to sell on rallies around 167.60-65 with SL around 168.50 for TP of 165.10
GBPJPY breaks significant resistance 167.31 after a long consolidation.
Indicators (4-Hour chart)
CCI (50)- Bullish
ADX- Neutral (strength increased from 11 to 13 positive for GBPJPY)
It is good to buy on dips around 167.25-30 with SL around 166.70 for TP of 169
It has formed a zero-line reject pattern in CCI (50). CCI bounces off of or near the zero-line (ZL). GBPJPY also shows a double top around 169.10. It is good to sell on rallies around 168.28-30 wit hSL around 169.10 for TP of 165.05
USDJPY and Gold have a negative correlation. In the weekly chart, USDJPY is showing bearish divergence, a dip to 145 is possible.
It is good to buy on dips around $1664-65 with SL around $1650 for TP of $1700
Nice trend line break-out on US dollar weakness. The US dollar index holds below 112 and this confirms intraday weakness, a dip to 110.85 is possible
It is good to sell on rallies around 0.9930-325 with SL around 0.9960 for a TP of 0.9855
The pair breaks significant resistance after a long consolidation. This confirms resumption of new bullish trend , a jump to 170 is possible.
It is good to buy on dips around 167.55-60 with SL around 166.50 for TP of 170
EURAUD breaks 61.8% fib retracement and holds above that level. This confirms the pair has formed a temporary bottom around 1.42833, a jump to 1.5760/1.6000 is possible. Minor bearishness only below 1.5380.
It is good to buy on dips around 1.5508-100 with SL around 1.5380 for a TP of 1.5760/1.6000.
Swiss banking giant Credit Suisse under deep trouble. Its five-year credit default swaps (CDS) rose by 6 basis points to close to 248 bpbs, the highest level since 2008 (Lehman brothers moment). It has increased the demand for safe-haven assets like Gold.
It is good to buy on dips around $1660-61 with SL around $1640 for TP of $1700/$1740.
Gold recovered sharply and jumped more than $30 on dollar weakness. US dollar index pared some of its gains made this week on profit booking.
RSI in Monthly chart-
US dollar index- 81.49 (Overbought)
Bearish divergence in the monthly chart (CCI- 50) (positive for gold).
It is good to buy on dips around $1640-41 With SL around $1620 for TP of $1720
GBPJPY gained more than 200 pips on the weak yen. The yen hits a fresh 20- year low against US d dollar on policy divergence between US Fed and BOJ.
It is good to buy on dips around 164 with SL around 163 for TP of 166.30