Technical Analysis Currencies & Commodities

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Old Jan 23, 2018, 6:21am   #9
Joined Apr 2017
EURGBP : 2 different formaitons on the daily chart

fxters started this thread Positive steps on Soft Brexit and the recovery in economic data increase the expectations of a possible rate hike on GBP side.

On the euro side, things are going well for Germany, but overheating is not yet fully reflected in other countries

0.87400 – 0.87200 tested several times. Bullish trend on the bigger timeframes ended.

We see 2 different formations on the Daily Chart. Cup With a Handle and Descending Triangle.

0.87400 is the critical support. Bears can be more aggressive with the break out of the 0.87400 support.

The technical target of the formation is 0.82400. We need to see a daily closing below 0.87400. Our targets will be :

0.8675

0.86

0.85

0.8470 and

0.82400.
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Old Jan 24, 2018, 8:54am   #10
Joined Apr 2017
fxters started this thread The second Bull wave might be starting.

After testing 1.343, Gold pulled back towards 1.324 levels. XAUUSD is trading at 1343 currently.

Correction is completed. With the break out of 1343, 1347, 1.353 and 1.357 will be tested.

Our first big target is 1.375 and 1.400.
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Old Jan 29, 2018, 7:39am   #11
Joined Apr 2017
CADJPY Bullish Harmonic

fxters started this thread CHART TIMEFRAME: H4

TREND ON THE CHART TIMEFRAME: BEARISH

FACTS AND PATTERNS: Bullish Gartley

CURRENT PRICE: 88.16

POSSIBLE “PREDICTED” PRICE ACTION: Bullish Gartley formation completed. 87.78 is the Fibonacci retracements of 88.60%. Price tested 88.84 but not touched the Fibo 88.60% at 87.78. It will test 88.33 ( Fibo 76.80% ) If it makes closing above 88.33, the targets will be 88.80 and 89.30. It may reverse from 88.40 and retest 87.78. This will be our area of entry.

ACCURACY: 98%

CADJPY TRADE IDEA: (MIDTERM )

TRADE: LONG

AREA OF ENTRY: 87.78

STOP LOSS: 87.50

TAKE PROFIT 1: 88.80

TAKE PROFIT 2: 89.30

NOTE: H4 closings below 87.78 would invalidate the setup.

If the price breaks and close above 88.33, you can try LONG with stop loss 88.10 with the same targets.

Pay attention: Your risk ( Stop Loss ) not more than 1% of your account.
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Old Jan 30, 2018, 9:33am   #12
Joined Apr 2017
EURUSD Cup with Handle formation

fxters started this thread Price is testing the EMA 50 support of the H4 chart.

On the smaller chart time frames, we see a cup with handle formation.

Below the current level, there is only EMA 200 support.

Breakout of 1.23300 may carry the price 1.2314, 1.2290, 1.2240 and the ultimate target of the formation 1.21600.

Few things to pay attention:

After the breakout of 1.23300, closings above 1.23800 would invalidate the formation.

The main trend is still bullish and the main support of the trend is 1.19600. We can not talk about a trend reversal as long as the price holds above 1.19600.
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Old Jan 31, 2018, 8:07am   #13
Joined Apr 2017
XAUUSD GOLD Forecast and Technical Analysis

fxters started this thread Technically and fundamentally, there is nothing to push GOLD prices lower.

Today ADP and FOMC statement will be in focus. Risk of high volatility.

A hawkish FOMC statement is expected. And this may cause a temporarily bearish effect on GOLD prices as well.

However, the tren is strongly bullish.

1344 ( The current level ) is an important resistance. If it breaks out and makes H1 closings above the current level, 1347 and 1.352 will be the next intraday targets of the GOLD.

1334 is the intraday support. Closings below 1.334 will carry the price 1328 and 1324.

SHORT TERM: Price will continue its upward movement as long as it remains above 1.324. If it breaks 1324 support, 1318 and 1.312 can be tested.

MIDTERM: 1347 and 1352 are the target levels. We may see a resistance at 1352. The breakout of this resistance will carry the price 1363 and 1.369.
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Old Feb 22, 2018, 9:29am   #14
Joined Apr 2017
AUDJPY Bullish Gartley and Long Opportunity

fxters started this thread CHART TIME FRAME: DAILY

PATTERN / INDICATOR: Bullish Gartley Harmonic Pattern

PROJECTED PRICE ACTION: AUDJPY will complete Bullish Gartley Pattern at D leg.

AREA OF ENTRY: 83.05 – 82.90
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