Chart Of The Day: NZDUSD buyers aim for 0.6680/85 on RBNZ’s upbeat rate statement

Wed, 26 Jun 2019 13:19

Given the Reserve Bank of New Zealand's (RBNZ) upbeat outlook for domestic growth, coupled with no rate change announcements, the NZDUSD surged to a fortnight high. The horizontal area comprising multiple highs marked since late-April around 0.6680/85 grabs the buyers' immediate attention during further upside. However, 50% Fibonacci retracement of...


Chart Of The Day: EURUSD seems well inclined to question 8-month old resistance-line

Tue, 25 Jun 2019 13:32

With its sustained trading beyond 200-day SMA, the EURUSD currency pair is likely heading towards 10-month old descending trend-line, at 1.1470 now. However, March month top surrounding 1.1448 and 50% Fibonacci retracement level of 1.1460 can question buyers during the north-run. In a case where prices rally beyond 1.1470, 61.8%...


Chart Of The Day: 0.6965/75 becomes the key resistance area for AUDUSD buyers

Mon, 24 Jun 2019 13:20

Not only 2.5-month-old descending trend-line but 50-day SMA also becomes the key upside barrier to challenge the AUDUSD's latest advances. Should prices manage to clear the 0.6965/75 resistance-confluence, 100-day SMA level of 0.7040 can quickly appear on the chart. Additionally, pair's successful rise over 0.7040 can help it question 50%...


Chart Of The Day: Gold crosses $1400 mark on safe-haven buying, $1434 next in the line

Fri, 21 Jun 2019 13:11

While a sustained break of 38.2% Fibonacci retracement of 4-year long downturn propelled the Gold prices close to $1412 on early Friday, the yellow metal is likely to extend its upside further towards the year 2013 top of $1434 unless it slips beneath $1380 resistance-turned-support. During the bullion's rally past-$1434,...


Chart Of The Day: Gold buyers again aim for $1358 amid challenges to further upside

Tue, 18 Jun 2019 14:15

With the sustained trading beyond $1324.50-$1326.50 horizontal support, Gold prices again head towards the year to date (YTD) tops surrounding $1358.20. However, $1366/67 region, comprising early-2018 highs and a year-long upward slanting trend-line, could question the bulls, together with overbought RSI, during further advances. In a case where the quote...