2018-04-25
The USD/CHF pair broke the resistance that turned into strong support at the level of 0.9772 yesterday. The level of 0.9772 coincides with the ratio of 78.6% Fibonacci, which is expected to act as a major support on the H1 chart today. Consequently, the first support is set at the level of 0.9772. Moreover, the RSI starts signaling an upward trend, and the trend is still showing strength above the moving average (100). Hence, the market is indicating a bullish opportunity above the area of 0.9772. So, the market is likely to show signs of a bullish trend around 0.9772 - 0.9750. In other words, buy orders are recommended above the ratio of 78.6% Fibonacci (0.9772) with the first target at the level of 0.9857 in order to test a double top in the same time frame. If the pair succeeds to pass through the level of 0.9857, the market will probably continue towards the next objective at 0.9898. The daily strong support is seen at 0.9730. Thus, if a breakout happens at the support level of 0.9730, then this scenario may be invalidated.
Technical analysis of NZD/USD for April 25, 2018
2018-04-25
Overview:The NZD/USD pair opened below the weekly pivot point (0.7110). It continued to move downwards from the level of 0.7110 to the bottom around 0.7072. Today, the first resistance level is seen at 0.7148 followed by 0.7195, while daily support 1 is seen at 0.7072. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.7110. So it will be good to sell at 0.7110 with the first target of 0.7072. It will also call for a downtrend in order to continue towards 0.7026. According to the previous events, we expect the NZD/USD pair to trade between 0.7110 and 0.7026 in coming hours. The price area of 0.7148 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.7148 is not broken. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the resistance level of 0.7148, then a stop loss should be placed at 0.7195.
EUR/USD analysis for April 25, 2018
2018-04-25
Recently, the EUR/USD has been trading downwards. The price tested the level of 1.2186. According to the M30 time frame, I found strong intraday selling pressure (ADX reading above 30), which is a sign that buying looks risky. I also found that ADX peaked on the rally, which is another sign that potential downward pressure may resume. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2186 and at the price of 1.2155.
Resistance levels:
R1: 1.2256
R2: 1.2283
R3: 1.2320
Support levels:
S1: 1.2195
S2: 1.2157
S3: 1.2132
Trading recommendations for today: watch for potential selling opportunities.
Analysis of Gold for April 25, 2018
2018-04-25
Recently, the Gold has been trading downwards. The price tested the level of $1,321.70. According to the H4 time – frame, I found a strong supply in the background and increase on ADX on the previous downswing, which is a sign that sellers are in control. The previous rally was on decreasing ADX, which is a sign that buyers are weak. My advice is to watch for potential selling opportunities. I placed Fibonacci expansion to find a potential downward target. I got Fibonacci expansion 161.8% at the price of $1,307.00.
Resistance levels:
R1: $1,334.70
R2: $1,338.90
R3: $1,345.28
Support levels:
S1: $1,324.10
S2: $1,317.80
S3: $1,313.51
Trading recommendations for today: watch for potential selling opportunities.
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