The pair is approaching the breached support area at 0.7055 – 0.7075 and we see on the 4 hour chart that it is possible to press the price to reach 61.8% Fibonacci at 0.6960 as the first target and the breach may extend from the downside wave to support the 0.6840 support as the second […]
The pair rallied strongly on Tuesday and Wednesday, influenced by the upside-down pattern of the head and shoulders pattern shown on the 4-hour chart to achieve its first target at 1.3440, which is currently moving around it … This trend is likely to remain for the next targets around 1.3545 as the second target and […]
A clear breach by the pair to the area resistance 1.0010 – 1.0025 during Tuesday trading to return during the day yesterday in an attempt to re-test and gather enough momentum upward as we note on the four-hour framework, it may be enough to activate the scenario of upward is located the first target around […]
The pair has moved sideways over the past two days in an attempt to gain bearish momentum due to the oversold resistance shown on the RSI on the daily basis … The 1300-1302 rally seems to be possible but the possible bearish scenario remains intact as long as the trading remains below 1305 (23.6% Fibonacci) […]
he pair has been floating sideways around 111.70 (the second objective of the bullish scenario) since the opening of this week’s trading … Stochastic on the daily time frame is trying to exit the oversold area and the four hours is moving within the oversold area and the RSI is still within the bullish momentum […]
Trading is limited between the 1.3100 support and the resistance of SMA 50 … The price direction is between the downside and the resistance below 1.3245 and the upside after the rebound from the 1.3100 support … so it is preferable to remain neutral until the pair is out of the area specified on the […]
The pair exceeded its first target at 1.1315 to return to test yesterday and to gather some bearish momentum … The possible downside scenario remains as long as the trading below the resistance 1.1365, and may be heading to the second target at 1.1275 support and then the bottom which is the middle of February […]
The pair has been floating since the opening of trading this week around the lower border of the side trend area shown on the chart at 0.7075 – 70 … It is best to stay neutral until the pair is out of the mentioned area to confirm its direction. A break of support at 0.7075 […]
The pair ended yesterday’s trading on the breach of the neckline pattern of the upside down head and shoulders pattern shown on the 4 hour chart, but it is better to wait for a breach of resistance 1.3325 to confirm the reversal of the mentioned pattern to be the next targets around 1.3435 as the […]
The downside potential remains valid as long as trading remains below 1305 (23.6% Fibonacci level) … The price is heading to its first target at 38.2% around 1275 and the breach may press the gold to move to the next support around 1250-1240 The price may need to retest 1300-1302 to gather enough bearish momentum […]
