The price has been falling recently, but after hitting 1.1035 support it bounced upward and returned over previous uptrend line. Usd/Cad is still within latest consolidation zone (1.1035-1.1120) but i think it will break above soon. Trading plan is to set long position around 1.1075 with 1.1150 and 1.1210 as targets. For more secure option you may wait until the candle closes above 1.1120
USD/CAD - H4 chart
Trade recommendation
Set buy order around 1.1075 or buy when it breakes above 1.1120
Gold failed to break above the downtrend channel. It bounced from 1267 resistance and returned below the trend line. Now it's heading towards 1231 and if decline continues it should hit 1218.5 level.
GOLD - Daily chart
GOLD - H4 chart
Gold is still in the uptrend, but last declines suggest that this wave may be over. At the end of the week it hit the uptrend line. The support at 1237.50 was defended, but I expect it'll be broken very soon. So, in this week I predict downward movement towards 1228 and 1218.50.
GOLD - H4 chart
Trade recommendation
Sell limit around 1248.50 or sell when it breakes bellow 1237.50
After hitting the lower bond of its downtrend channel Eur/Usd rebounded rapidly.
It's still in consolidation phase and failed to break the downtrend channel, but I assume it will extend its gain up to 1.3715 and 1.31730 further.
EURUSD - H1 chart
Trade recommendation
Buy ater correction around 1.3650 or later if the upward pace is sustained
EURUSD reached 1.3500 level, than it bounced up rapidly forming large bullish candle. This powerful sign has brought hope for further gains in upcoming days. In perspective - reaching 1.3810 level is very likely.
EURUSD - Daily chart
EURUSD - H4 chart
Looking at the H4 chart, Eur/Usd broke above consolidation area of 1.3515-1.3585. It continued well-paced movement until encountered a substantial resistance at 1.3730. This level pushed down the rate around 1.3676, where the week was closed. This suggests that bulls may be resting for a while, so falling to 1.3650 is possible scenario. Then I expect bulls mood to be revealed again. So, the plan for now is to wait until correction is over (~1.3650 I suppose) and then open long position with 1.3695 and 1.3730 as targets.
The rate is still in the consolidation phase. As it's reached important resistance zone (1.3135 - 1.3155) coming hours will determine the further movement direction. The bullish mood looks pretty strong now, so breaking above the resistance (1.3155) is very likely. After that it should move to 1.3195 and 1.3235 later. If it fails, the triple top formation will be confirmed. It will force the rate to strong decline towards 1.3055.
Gold arrived at 1630 support level. Long term uptrend line and major support at 1600 are also very close. Upward bounce in the comming weeks looks very likely.
GOLD - Weekly chart
GOLD - Daily chart
The rate is moving in the downtrend channel. After hitting support at 1619 it bounced up and stopped at 1645.
GOLD - Daily chart
GOLD - H4 chart
After strong decline last week the rate bounced up. It was stopped on the short term downtrend line and consolidated in the 1636.85 - 1645.00 zone. If it break the resistance at 1645.00 and the downtrend line it should start its movement up to 1660.00 level.
Another scenario will take place if the rate breaks the support at 1636.85 and short term uptrend line. Then we could expect decline to 1630 and 1617.75 further.
Strong decline within last three days has brought the rate to 1.3025 - 1.3055 support zone. Combined with oversold sentiment it can lead to upward correction.
EURUSD - Daily chart
EURUSD - H4 chart
EURUSD was stopped at 1.3055 line. If it remains over this level we can expect consolidation in 1.3055 - 1.3085 zone. Breaking over this consolidation will give the green light to 1.3135 line.
The rate hit the support level at 1.5865 and the minor uptrend line. It seems that the most probable scenario for upcoming hours is breaking over 1.5900 and upward movement towards 1.5950.
But if the rate closes below 1.5865, open short trade with 1.5830 and 1.5805 as targets.
GBPUSD - H4 chart
Trade recommendation:
Buy after closing above 1.5900
Take profit level: Target : 1.5950
Sell after closing below 1.5865 Take profit level: Target 1 : 1.5830 Target 2 : 1.5805
Last week the rate crossed down the support line at 1.0350, as well as the short-term uptrend line. This week opening made a big rising gap, but from that time the rate was gradually falling. The nearest support is around 1.0350. Breaking it down will open the way for further decline.
AUDUSD - Weekly chart
AUDUSD - Daily chart
Since the end of February the AUDUSD has been moving in the downward trend. It stoped in the support zone around 1.0350, and touched the higher order upward trend line. Large decline since the beginning of this week has almost close the formed gap. Further movement toward support at 1.0345 seems to be most likely. Breaking this support and the nearby uptrend line will give the signal for further decline.
AUDUSD - Daily chart
AUDUSD - H4 chart
The rate moves in a downward channel. After reaching the 1.0335 support it bounced up and was stopped at 1.0445 resistance line. If the AUDUSD breaks down the short-term uptrend line (plotted during the upward correction) it will move towards 1.0335. Breaking this support would open the way towards 1.0275 and then to 1.0210. There some upward rebound is very possilbe.
If the rate turned to be so weak that it remains above 1.0335 some consolidation within the downward channel should be expected.
AUDUSD - H4 chart
Trade recommendation:
Sell after closing below 1.0335 Take profit level: Target 1 : 1.0275 Target 2 : 1.0210
In the last 3weeks the rate was growing upafter a strongdecline last month.It reached the downtrendlineand was blockedat the level of1.3345,which corresponds to themiddle ofa largebearishcandle formed few weeks ago.Furtherupward movementis nowblocked by the downtrendlineandresistance at1.3450. The nearestsupportis at the uptrend lineand level of1.3115.
EURUSD - Weekly chart
EURUSD-Daily chart
The rate maintained itscoursebetween thebroken downtrend line (dashed line)and the newlyplotted trend line (solid line). It did not manageto brake over the current consolidation.Last candlewas bullish,but a longuppershadowand lack of breaking above the consolidation is not inviting for openingthe long trades.
Furthermore stronger upward movementis also blocked by the higher time-frame downtrendlineandstrong resistancearound1.3450 (weeklychart). The closest
resistance is at1.3355and supportat1.3275.
EURUSD - Daily chart
EURUSD-H4 chart
The rateis consolidatedin the rangeof 1.3275-1.3360. Recently, a few candleswith long upper and lower shadows have been
formed. Ratebounced down from theupper consolidation limit,butstronger decreasewas stopped at the moment.
If the rate will break the downtrendline it should fall to 1.3275.It is theclosest support. Breaking it downwill give the signalto the fall to the level of1.3245and further to1.3215. In the 1.3175-1.3215 zone we should expect some upward correction -here comes thesupportzone and the uptrend trend lineof the higher time frame. In the upcoming week I expect breaking down and movement towards 1.3215 level. Alternatively, if the rate remains bullish enough to break over the 1.3385 you should consider buying with the 1.3425 as the target.
Trade recommendation:
Sell after closing below 1.3275 Take profit level: Target : 1.3215
Buy after closing above 1.3385 Take profit level: Target : 1.3425
EURUSD rate reached the 1.29750 support, which has stopped the decline and led to bouncig up. The closest resistance to this movement is 1.3035. This level in conjunction with the downtrend line should stop further growth. However, if it is broken the next resistance is 1.3075. In the near future I expect consolidation in the 1.2975 - 1.3035 zone. Currently the rate seems to be too weak for some further upward movement. I expect it will sustain the bearish mood. The signal for further declines is breaking below 1.2950, and the next goal for this movement is 1.2905.
EURUSD - Daily chart
EURUSD - H4 chart
Trade recommendation:
Sell after closing below 1.2950 Take profit levels:
Target : 1.2905
EURUSDreboundedfromsupport at1.2650.The rising mood should be sustained
in the coming weeks.
EURUSD - Weekly chart
Breaking thedowntrendlineand 1.2890resistanceopened the waytoward1.3085. However, if the rate drops againbelow1.2890we should expect a consolidationin the rangeof 1.2650-1.2890.
EURUSD - Daily chart
After reaching the1.2975-2995 resistance area EURUSD drops
sharply stopping at the 1.2885-1.2905 support zone. Then it moved upward and
stopped at 1.2950. Breaking up this level should open the way towards 1.2995
and 1.3075 further.
But if therate breaks down theuptrendline and support of1.2885I wouldexpectafurther falltill 1.2835and then1.2800.
EURUSD - H4 chart
Trade recommendation: Buy after closing above 1.2950 Take profit levels:
Target 1: 1.2995
Target 2: 1.3075
Sell after closing below 1.2885 Take profit levels:
Target 1: 1.2835
Target 2: 1.2800
EURUSD rate is currently in the weekly support zone. Arriving at this zone forced the rate to bounce up. I predict some further growing in the nearest future.
EURUSD Weekly chart
At the lower time frame we can see that the rate reached the resistance level at 1.28015. I expect breaking up. Closing above this zone shall open the way up to 1.28900 target level. If the rate remains below 1.28015 we should expect some downward movement towards 1.27200.
EURUSD H4 chart
Trade recommendation: Buy after closing above 1.28015
