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Showing posts with the label bearish trend line

Eur/usd support at 1.2465$

Eur/usd rallied after making triple bottom at 1.2385$ , however rally stalled at 1.2520$..The pair is currently retracing and make or break level would be 1.2465$ , if the pair finds support there , then we might break 1.2520$ , if we break below that support then we will fall to 1.23$ , and final support would be 1.2260$ ....just keep in mind that we will have NFP report released tomorrow.

Eurusd still struggling around 1.2420$

The pair rebound from support area at 1.2385$ but recovery stalled at 1.2420$ area , the pair may have some room towards 1.2440$ but bias remains bearish after yesterday reversal. You can short the pair at the moment with target 1.2360$ area and exit if we break above the bearish trendline shown below

Ripple : $XRP technical analysis for 31-1-2018

Ripple Has fallen sharply after reaching all time high at 3.5$ , The pair tumbled to 85 cents 17 January and has been recovering since with high at 1.70$ (which is close to 38% fibonnaci retracement level. The pair has made some local support levels at 1.05$ , followed by 1.14$. Resistance areas currently lies at 1.14$ followed by Broken bullish trend-line and then 1.84$ . Target area in case of breaking the high of correction move would be 2.30$ area. it is preferred to stay long unless we close below 1.05$. If 1.05$ broken , then 91 cents will be next level of support.

Ripple : $xrp breaks the double bottom

Ripple ($xrp) breaks below 1.14$ where it formed a double bottom last week and that came shortly after breaking out as expected earlier today. The pair broke the bullish trendline and fall below the critical support at 1.14$ , now we will watch how the pair will react at 1.05$ which represents our final defense area.

Ripple broke the bullish Trendline

Ripple ($XRP) broke the trendline which was supporting the pair so far. Currently trading 1.17$ Be careful ,as we might now break the 1.14$ critical support and might dip to 1.05$ if broken. I prefer waiting till we break the bearish trend-line. Keep following for updates.

XRP (ripple) technical analysis 27-1-2018

Ripple is being bound the bearish trendline formed on the 30 minutes chart as show below and it has been trading below the 200 SMA (simple moving average) for 2 days now. Once we break above that line , first resistance will be around 1.55$ then followed by 2.30$ , on the down side , first support can be found 1.14$ which proved to be double bottom for 2 days now. If xrp/usd breaks 1.14$ , we will test 1.05$ , However , it is preferred to stay as long as you can until we break 1.05$ and your target should be around 2.30$

Bullish call on gold Xau/Usd

Gold / the precious yellow metal made it clear on friday post NFP figures that it is targeting higher levels. Gold already broke the bearish weekly trendline and declined to test daily support/trendline at 1260$ and reversed sharply to 1285$ during the asian session. The precious metal might find some resistance in the area of 1295-1300$ before resuming the bullish move to 1550$ in medium term. I recommend going long at current 1275$ area with stop loss on daily close below 1260$ ...

EUR/GBP technical analysis and forecast

EUR/GBP has broken the bearish trendline as per daily chart below and has been booking gains and consolidating since then. However , I don't recommend going long at the current area , I would like to wait for a test of thew rising trendline and the might be the crossing of both trendlines and go long at that area . However , If we see a break of the Rising trendline , We will have all the way down to 0.8080 area before resumption of further move upwards. The pair might test the trendline around the area of 0.8540 , Keep an eye on that area and behavior of the pair for indication of future movement. Make sure to follow me on twitter @b4borio and feel free to contact me anytime.

Chicago PMI revised to 59.2

After releasing data of chicago PMI , dollar weakend on the board versus euro and sterling. Chicago PMI was then revised to 59.2 from 55.2 versus 58 in april so the dollar reversed and euro dropped back to 1.1230$ area which it was trading at before the news. So the pair is signaling a reversal again after reaching daily high at 1.1252$ Shorting euro against the dollar at current level will be very profitable and safe trade as long as we dont close above 1.1250$ on weekly basis. Was that a russian hack as well? Zerohedge thinks so but if that is the case , then fx markets are at big risk.

EUR/USD breaking trendline and turning bullish

Below chart on the 1h frame shows the pair reversing and closing above hourly bearish trendline from 1.1260$ , Currently trading at 1.1215$ ... So for short term trade , you might want to wait for a test of the supporting trendline and go long targeting 1.1225$ area, However I dont recommend this trade as the pair is reversing on the weekly chart as shown in this post.

EURUSD Still bearish on weekly basis

That will be the trade for month of June , Possible good correction for #eurusd from multi month high not seen since before Trump winning presidency. On Weekly chart , You can see the pair reversing from bearish trend line. So , it is good to go short at current level around 1.12$ with Stop loss on weekly close above the trend line. The target of the correction will be around 1.0930-1.10$.... And there is a gap not filled yet between 1.0720-1.0820$ , So it might be targeting to fill this gap.