Chart Of The Day: Gold aims for 21-day EMA, 3-month old support-line as central bankers head to Jackson Hole

Fri, 23 Aug 2019 13:23


Following its failure to rise beyond $1535, Gold prices are gradually declining towards 21-day exponential moving average (EMA) level of $1481. Should the bullion fails to reverse from $1481, July month high surrounding $1452 and 3-month old rising trend-line at $1443 will be on the sellers' radar.

Increasing the odds...

​Chart Of The Day: USDJPY remains on the back foot below 21-day EMA, 23.6% Fibo.

Thu, 22 Aug 2019 13:37


USDJPY continues to remain compressed by 106.73/80 resistance confluence including 21-day EMA and 23.6% Fibonacci retracement of April – August downpour. With this, 106.00 round-figure keep gaining sellers' attention whereas 105.70 and 105.50 seem to limit the pair's declines afterward, if not then the return of 105.00 can't be denied....

​Chart Of The Day: USDCAD clings to 200-DMA inside rising channel ahead of Canadian CPI, FOMC minutes

Wed, 21 Aug 2019 13:05


After a Doji' candle on the daily chart, USDCAD drops below 200-DMA. Though, a six-week-old rising trend-channel portrays the pair's strength ahead of today's key events, namely Canada's monthly CPI and the FOMC minutes. Should prices remain below 200-DMA level of 1.3310, 1.3250/40 area comprising channel's lower-line should be watched...

​Chart Of The Day: 4H 100MA keeps challenging GBPUSD buyers targeting 1.2310/15 confluence

Tue, 20 Aug 2019 13:14


GBPUSD's recent recovery falls short of clearing 100-bar moving average on the 4-hour chart (4H 100MA), which in turn exerts downside pressure on the pair towards 7-day old rising trend-line, at 1.2080. Should sellers dominate below 1.2080, 1.2050 and 1.2015 are likely intermediate stops they can avail of targeting 2017...

​Chart Of The Day: 21-day EMA, 61.8% Fibo. limit USDCHF recovery

Mon, 19 Aug 2019 13:19


Despite recovering in the last week, the USDCHF pair's upside is presently being capped around 0.9800/05 area comprising 21-day EMA and 61.8% Fibonacci retracement of September 2018 to April 2019. If buyers gain momentum above 0.9805 resistance, 0.9840 and 50% Fibonacci retracement level of 0.9890 can please them ahead of...