ankurlakhotia

ankurlakhotia

FTSE 100 Index on the weekly chart has formed a bearish engulfing candlestick pattern at the top end of broadening triangle. The mentioned pattern requires confirmation in form of a lower weekly close. The immediate downside support is at 7120 level. A breach of this level will lead to a failed breakout in the index and it may head lower towards 6700 - 6600 level....

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Crude Oil has been rejected at the upper trend line of the 5 month long channel. It has also broken below the past 2 months trend line and the last 2 days move can be said to be a retest of this short term break down. Important thing here is the RSI which has failed to move above 70 mark in this entire upmove. Going forward crude oil i likely to head lower toward...

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GBPUSD buying here for a double bottom with positive divergence in RSI

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AUDUSD is nearing a breakout from a 2.5 years inverse head and shoulder pattern. The neckline is placed at 0.77 level. Above which it can target 0.86 level

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DXY on the daily chart has formed a Anti Shark harmonic pattern along with bearish stick sandwich candlestick pattern.

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USDCAD pair is reversing from strong resistance zone along with RSI making it a good short candidate at current prices.

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GBPUSD forms Pin bar at 127.2% Fibonacci retracement of its recent rise. Time to look for some long positions.

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Deutsche bank on the weekly chart is moving in a falling wedge pattern and is near to PRZ of bullish deep crab harmonic pattern.

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Deutsche bank is moving in a falling wedge pattern and is currently hovering around the lower trend line of the wedge indicating downside is likely to pause.

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GBPUSD has formed a tweezer bottom at trend line constructed by joining the lows of 6th July and 15th August 2016. In addition it is a lower end of the range having a favorable risk to reward ratio for long positions.

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EURUSD pair is likely forming a double bottom on 4H chart

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1300$ has been a rock solid support for gold prices. Trend line resistance for gold is placed near 1345$ any up move above this would unleash a huge upside move in gold prices

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USDNOK is breaking down from an head & shoulder pattern having bearish implications.

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GBPSD testing important fibonacci level of the recent rise case of bounce back increases

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We saw a good rally in SPX yesterday after the fed meet which lead it to retest the short term break down trend line. In technical terms we call it pullback. The spx going forward is likely to head lower towards 2120 levels and breach of this significant level would not be good for SPX bulls