GBPCAD couldn’t able to sustain above the longterm downtrend line for long. A clear Head & Shoulder pattern has been formed. Also Last trading day we saw a close below important level 1.7080.
Trade Idea: We should look for short trades below neck line. Here better not to have long trades until clear confirmations.
We can see GBPAUD now at the very end of long term wedge pattern. Also observing the price action there a huge possibility of forming a Head & Shoulder pattern.
Trade Idea for Long: We can go long above 1.8861 level towards psychological resistance 1.9000.
And even after confirmed break above level 1.9094 we can take long trades.
Trade Idea for Short: If our...
We can see gold perfectly broken the falling wedge pattern and closed below very important resistance level 1555. Recent rally shows a very positive demand for gold. But analyzing the previous prices to me 1564-1555 zone will work as resistance zone. We can expect some retracement towards 1532 level. A successful break above 1564 level will give us opportunities...
Price has been respecting the long term downtrend line for a long time. Last 5 days we have seen that price is trying to cross the trend line in upward direction. From the movement and nature of the price action we can assume that the short term uptrend will continue. We need proper break out and retest of the trendline and the level 109.32
Price has been successfully respecting the long term uptrend. Thursday we saw a close below 0.9805 resistance but on Friday we see that price respected the trend line and closed above the resistance. Also we see that price has created a long term triangle pattern.
• We can see a little retracement on Monday after that we may see price...
Time frame: D1
• Price still respecting the Long-term Downtrend and we don’t see any close above the trendline.
• Price has respected the resistance level 1.1176 again and a beautiful triangle pattern has been formed. Also we can see that a short term uptrend has been breached and price moved down again and respected a support level 1.1075