Gold analysis for November 18, 2016

Share This: Since our previous analysis, gold has been trading downwards. The price tested the level of $1,202.76 in a high volume. Using the market profile on 15M time frame, I found today’s point of control at the price of $1,208.20. I found signs of a trend dynamic from bearish to bullish. Price is trading above 21SMA, which… Read More »

Global macro overview for 18/11/2016

Share This: Global macro overview for 18/11/2016: ECB President Mario Draghi was a keynote speaker at the 26th European Banking Congress in Frankfurt. During the speech, he assured that ECB will continue to act as warranted by using all instruments available within the mandate. He mentioned, that eurozone recovery still relies to a considerable degree on monetary policy… Read More »

AUD/JPY bearish move in progress

Share This: We remain bearish below major resistance at 81.91 (Fibonacci retracement, Fibonacci projection, horizontal resistance) for a further drop to 80.27 (Fibonacci retracement, horizontal overlap support, recent swing low support) as the first big level to play to. RSI (21) is seeing major resistance from 72%. Sell below 81.91. Stop loss at 82.65. Take profit at 80.27.… Read More »

NZD/USD remain bullish above key support

Share This: Price bounced above our stop loss level yesterday. We remain bullish above major support at 0.7068 (Fibonacci projection, horizontal support) where we expect a bounce from to at least the next resistance level at 0.7142 (Fibonacci retracement, horizontal resistance). RSI (34) has bounced off major support at 34% signalling a recovery is in progress. Buy above… Read More »

GBP/USD on major support, turn bullish

Share This: Price has made a bullish exit of its descending channel and is testing the key support at 1.2444 (Fibonacci retracement). We expect a bounce from here towards 1.2678 (horizontal pullback resistance, Fibonacci projection). Stochastic (21,5,3) has bounced above the key support. RSI (34) is also bouncing above the long-term ascending support. Buy above 1.2444. Stop loss… Read More »

Technical analysis of AUD/CAD for November 17, 2016

Share This: AUD/CAD found the resistance at 1.0400 and declined sharply. While moving down, the pair broke below the uptrend trendline and continued trading below both 50 and 200 moving averages. Fibonacci applied to the trendline breakout point shows that the pair broke below 23.6% Fibs support (1.0033) and now could be ready to move lower to test… Read More »

Technical analysis of EUR/CAD for November 17, 2016

Share This: EUR/CAD is still trending downwards after breaking the support at 1.4600 area and remains below both 50 and 200 Moving Averages. The corrective wave applied after breakout of the support occurs shows that pair broke below the 261.8% Fibs support which opens doors for another potential wave down. Consider selling EUR/CAD at the current rate (1.4390)… Read More »

Global macro overview for 17/11/2016

Share This: Global macro overview for 17/11/2016: The Crude Oil Inventories data released yesterday revealed another rise in the stockpiles. Market participants expected a decrease this week from 2432k barrels to 1267k barrels, but the figure revealed was at the level of 5274k barrels. Meanwhile, OPEC members will assemble again on November 30th in Vienna and will try… Read More »