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...


Chart Of The Day: RSI divergence, immediate support-line favor NZDUSD’s U-turn to 21-day SMA

Mon, 17 Jun 2019 13:40

Despite registering heavy downpour on Friday, the NZDUSD currency pair is still left to break an eight-month-old upward slanting trend-line, near 0.6480, which together with RSI divergence indicate brighter chances of the quote's pullback to 21-day SMA level of 0.6560. However, 0.6580/85, 61.8% Fibonacci retracement near 0.6630 and 12-week old...


Chart Of The Day: 100-day SMA, 50% Fibo. challenge USDCAD recovery while US retail sales, Geopolitics to grab market attention

Fri, 14 Jun 2019 13:27

While 100-day SMA level of 1.3350 acts as immediate upside barrier for the USDCAD, pair's further increase may have to clear 50% Fibonacci retracement level of December – February declines, at 1.3365, in order to aim for 1.3380 and 50-day SMA level of 1.3415. In a case where prices rally p...


Chart Of The Day: Falling wedge on H4 raises hope of USDJPY rally

Thu, 13 Jun 2019 13:14

Despite reversing from three-week-old descending trend-line resistance, the USDJPY pair is yet to defy bullish technical pattern. As a result, chances of its rally to 61.8% Fibonacci retracement level of 110.65, together with intermediate halts around 109.20 and 109.80, can't be denied. During the quote's rise past-110.65, 111.00, 111.60 and...


Chart Of The Day: Failure to cross 3-week old resistance-line highlights 61.8% FIbo. for WTI sellers

Wed, 12 Jun 2019 13:18

Not only 50% Fibonacci retracement but a downward slanting trend-line since May 21 also triggered WTI's present declines that target 61.8% Fibonacci retracement level near $51.40. However, a horizontal region comprising lows since mid-January around $50.50-40 can limit the black gold's further downside, if not then $48.00 could quickly appear...