Consider staying bullish above 0.6840 and bearish below 0.6880 as the market is likely to continue trading sideways until and unless we have a strong fundamental update from Australia or China.
Consider staying bullish above 107.400 to target 108.200 today. Selling can be seen below 108.200 later during the U.S.session.
The bearish trend in Gold is still dominant over faded demand for haven assets. Gold is heading lower towards 50% Fibo retracement level of 1,482. The aggressive target on the lower side is 1,461, which is likely in a couple of days. Consider staying bearish below 1,504 and bullish above 1,487 to trade the choppy sessions today.
Technically speaking, the dominant trend is bearish, but USD/JPY has been trading higher since August 26. The central trading range is 109.320 to 104.450. The USD/JPY's 50% to 61.8% retracement zone is found around 106.860, and it's being tested for now. Consider staying bullish above 106.88 to target 107.400 and 107.620.
On the technical side, GBP/USD has entered the overbought zone, suggesting chances of a bearish bias. Sterling is likely to find immediate support above 20, 25 and 50 periods EMA at 1.2260 area. Consider staying bullish above 1.2285 area with a target of around 1.2360.
The yellow metal gold is stuck in the sideways trading range of 1,521- 1,503. The bearish breakout of this level could extend sell-off until 1,496 while the bullish bias and violation of 1,521 open room for 1,534 for gold. I will consider staying bearish below 1,512.52 and bullish above 1,502 today.
The Aussie continues to gain bullish momentum against the U.S. The pair has recently closed "Three White Soldiers" can pattern on the 3-hour timeframe, which suggests the strong potential of having a further bullish bias in the AUD/USD. Consider staying bullish above 0.6843 to target 0.6890 and bearish below 0.6890 to target 0.6843.
The technical side of the USD/JPY is still suggesting slightly bullish bias as the pair holds above 106.660, having a strong resistance above 107.077. A bullish breakout of this level can extend further buying until 107.440. Consider saying bullish above and bearish below 106.88.
Gold completed retracement at 1534 and continues its bearish reversal amid faded risk sentiment. Let's look for sell trades below 1519 area and the target is likely to be 1500 and 1496.
AUD/USD – Trading TipsConsider staying bullish above 0.6789 to target 0.6840 and bearish below 0.6840 to target 0.6789.
As forecasted, gold completed retracement at 1534 and reversed back up to violate 1544 resistance. For now, the same level is working as an immediate support level. While resistance stays at 1558. Sentiment remains bullish for gold.
USD/JPY has formed an ascending triangle pattern which is likely to drive the bullish trend in Japanese yen. However, failure to break above 106.650 may not drive the bullish trends until 107.200. Consider staying bullish above 106.25 and bearish below 107.200 today
AUD/USD – Trading Tips Consider staying bullish above 0.6789 to target 0.6840 and bearish below 0.6840 to target 0.6789.
Precious metal gold was trading with the neutral sentiment, exhibiting choppy sessions within a wide range of 1517-1533. The range got violated on the upper side and now gold 1533 is likely to work as a support. While next resistance stays around 1549. Looks like gold is completing Fibonacci retracement and it may drop until 1539 or 1534 before exhibiting another...
The AUD/USD pair is trading at a five-day high ahead of the Q2 GDP release, with a positive technical stance in its 4 hours chart, trading above its 20 and 100 SMA for the first time in over a week. The moving averages continue directionless, while the 200 SMA holds going lower, offering a dynamic resistance at 0.6820. Technical indicators in the specified...
On the technical side, the USD/JPY continues to trade the Fibonacci levels which are extending nice support and resistance to the safe-haven currency Japanese Yen. On the lower side, we may see USD/JPY going towards 38.2% Fibo levels of around 105.80 and 50% Fibo level of 105.600. While resistance stays around 106.200. Consider staying bearish below 106.250 as...
Today the GBP/USD slipped dramatically lower violating series of support levels around 1.2100, 1.2018 and 1.2000, the psychological level. Now it's heading towards next target level of around 1.1950. Closing above this level may help us secure some bullish retracement