Archive for the ‘Technical Comment’ Category

Until towards the close of European session, gold price is still moving sideways and had declined close to the uptrend line on the H1 chart which is now at 1746.80. The pattern of price movements were little changed, from the earlier symmetrical triangle pattern into now an expanding triangle. On the M15 chart (15-minute) it is clearly visible pattern of the expanding triangle. Upper boundary of ... Full story

USDCHF has been caught within a narrow range for a while now, but on the H1 chart we see a bearish formation developing, with a breakdown below support at 0.9082 likely to see it come off to or very near 0.9050. Initial resistant is now 0.9132. (MT) Full story

There is a potential breakdown scenario developing on the H1 chart of Oil. We are looking for a move below the 105.53 support, which should see it continue on to 104.62 and first resistance is 106.46. (MT) Full story

There is a potential breakout scenario developing on the H1 chart of OIl. We are looking for a move above the 105.45 resistance, which should see it continue on to 105.91 with initial support at 104.64. (MT) Full story

There is a potential breakout scenario developing on the H1 chart of XAUUSD. We are looking for a move above the 1757.10 resistance, which should see it continue on to 1761.85 with initial support at 1749.65. (MT) Full story

GBPUSD has not been able to test the 1.5930 resistance zone and back down to a target at 1.5730 zone. In that area there are three supports, particularly the uptrend line on the H4 chart. If this trend line can be penetrated it will provide an opportunity for a change in the GBPUSD sideways pattern which was started in early February. In the intraday scale, as long ... Full story

Having held below the 104.38 support, Oil looks as if it will rebound and test resistance at 105.39. A successful break at 105.39 places 106.04 as the immediate target, and a failure to pass will likely see it fall back to initial support at 104.38. (MT) Full story

XAUUSD has been caught within a narrow range for a while now, but on the H1 chart we see a bullish formation developing, with a breakout above resistance at 1735.50 likely to see it advance to or very near 1739.70. Initial support level at 1728.55. (MT) Full story

After breaking down below key support at 1.0742, the next target for AUDUSD is 1.0644. First resistance is now 1.0723, and if this level holds firm in the near term, it may well fall to the 1.0644 support. (MT) Full story

Having failed to pass the 103.58 resistance, Oil looks as if it will retrace and test support at 102.67. A successful breakdown at 102.67 places 101.53 as the immediate target, but if it holds here it will likely bounce back to resistance at 103.34. (MT) Full story