Our Preference: Buy above 1.3450 for the target of 1.3600 levels
Alternative Scenario: Nill
Technical Commentary: In Weekly Chart :- Last week GbpUsd was closed above the key support level of horizontal line and it was closed as bearish candle now its trading near major key support level, so we can buy near key support levels and except upto next key resistance level :- which we have shown in attached image.
In Daily Chart :- Last 5 days low was formed as major key support level of horizontal line and now its trading above the key support line and last week major uptrend line was broken so we can buy near key support levels and except upto next key resistance level :- which we have shown in attached image.
In 4 Hour Chart and 1 Hour Chart :- GbpUsd was trading in the range bound pattern so we can buy near key support levels and except upto next key resistance level :- which we have shown in attached image.
Our Preference: Sell Below 112.50 for the target of 110.80 levels
Alternative Scenario: Nill
Technical Commentary: In Daily Chart :- UsdJpy was formed major resistance level of upper trend line so we can keep stoploss above the resistance level of upper trend line, so we can sell near key resistance levels and except upto next key support level :- which we have shown in attached image.
In 4 Hour Chart and 1 Hour Chart :- UsdJpy was trading in the triangle pattern, now its trading near lower trend line If lower trend line breaks means we will except heavy sell off, so we can sell near key resistance levels and except upto next key support level :- which we have shown in attached image.
Our Preference: Sell Below 1238 for the target of 1219
Alternative Scenario: Nill
Technical Commentary: In weekly chart :- Gold was trading below the triangle pattern, now the lower trend line of the triangle pattern acting as the key resistance level and its trading near lower trend line of the triangle pattern, so we can sell near the key resistance levels and except upto next key support level :- which we have shown in attached image.
In Daily Chart, 4 Hour Chart and 1 Hour Chart :- Gold was trading below the lower trend line and the lower trend line acting as key resistance level, so we can sell below the resistance level of 1238 levels and except upto next key support level :- which we have shown in attached image.
Our Preference: Sell Below 129.45 for the target of 128.80 and 128.00
Alternative Scenario: Nill
Technical Commentary: In Daily Chart :- EurJpy was trading in the equidistant channel line and its broken lower trend line now lower trend line acting as the key resistance level so we can sell near the key resistance level and except upto next key support level :- which we have shown in attached image.
In 4 Hour Chart :- EurJpy was trading in the intraday triangle pattern and its trading near lower trend line and its trading near key support level of horizontal line so key support level breaks means we except upto on selling side and we can sell near the key resistance level and except upto next key support level :- which we have shown in attached image.
In 1 Hour Chart:- EurJpy was trading in the sideways movement and its trading with lower trend line its trading near key resistance of horizontal line so we can sell near the key resistance level and except upto next key support level :- which we have shown in attached image.
Our Preference: Sell Below 1218 and 1230 for the target of 1194
Alternative Scenario: Nill
Technical Commentary: In weekly chart :- Last week gold was closed below the key support level and its was broken the key support of lower trend line, so its conforming for the selling side, so we can sell near the key resistance levels and except upto next key support level :- which we have shown in attached image.
In Daily Chart :- Gold was broken major key support level of horizontal line and its closed as bearish candle and its was tested the retracement level of 50% so this week we can except some correction upto intraday resistance level of 1218, so we can sell below the resistance level of 1218 levels and except upto next key support level :- which we have shown in attached image.
In 4 Hour Chart and 1 Hour Chart:- Gold was trading in the equidistant channel lines and it was safely reached the lower trend line of equidistant channel lines so we can except some correction from lower trend line and we sell near the intraday key resistance levels and except upto next key support level :- which we have shown in attached image.
| PIPS COUNTER - SINCE JANUARY 2013 | ||
| Total Trades | Total Pips | |
| EUR / USD | 1135 | 10130 |
| GBP / USD | 1054 | 10550 |
| USD / CHF | 907 | 8945 |
| EUR / JPY | 818 | 10435 |
| XAU / USD | 1156 | 207955 |
| TOTAL: 248015 | ||
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