The general trend is bullish and by the beginning of the week the bearish wave has ended in a try of the price rise supported by the Stochastic indicator while Moving Average 10 has been broken out. Moving Average 50 and 20 is currently tested by the price targeting the resistance at 0.90363
The price is taking a strong downtrend breaking out Ichimoku cloud by the support of the bearish crossing of Tenkan-Sen and Kijun-Sen Index reaching near a critical Support line at 1.11869 while Stochastic Index recording an oversold which suggests an occurrence of uptrend in form of profit gain
Today's trade started and the price is upward supported by Ichimoku System reaching 122.330 , currently Stochastic index recording an overbought in parallel with the end of Ichimoku buying signal which indicate the probability of bearish corrective wave
The price started to decline from 1341.58 and it was confirmed by the support of Tenkan-Sen and Kijun-Sen crossing over . Currently, the Ichimoku cloud is being tested by the price while Stochastic index is recording an oversold which suggests the probability of rebounding the price upwards near the the top of the cloud
The price broke out Ichimoku cloud upward after achieving the buying target which recorded by the crossing of Tenkan-Sen with Kijun-Sen while Stochastic indicator recording an overbuying which is likely can result in a profit gaining in form of a bearish corrective wave
The price is moving in a horizontal direction between the support level at 1.33893 and the resistance level at 1.35075. Currently, the resistance level is tested by the price trying to break it out with the support of the Moving Averages while the Stochastic indicator is recording overbought, indicating the possibility of the price to rebound downward targeting...
After the bearish opportunity confirmed due to the intersection of Tenkan-Sen with Kijun-Sen which heading the price downward under Ichimoku cloud at 109.471, while the Stochastic index recording an overselling which is predictable a profits gain can occur in form of a bullish corrective wave.
The week ended with a significant rise in Gold due to the decline of the US dollar supported by the Ichimoku system, while the Stochastic index recording a bullish saturation, Which is likely to be a downward correction wave with the beginning of trading next week
The trade started today and the price is in a bearish direction, trying to breach Ichimoku cloud supported by the bearish signal formed by crossing Tenkan-Sen with Kijun-Sen targeting 1.11572 ''if the price succeeds in breaching the cloud'' unless the price is rebound higher against Senkou-Span A resistance.
The price is moving in the bearish direction below Ichimoku cloud as a result of the selling signal of Tenkan-Sen cross with Kijun- Sen to reach the target at 1.00978, suggesting a bullish correction supported by the Stochastic index