2018-07-05
Recently, AUD/USD has been trading downwards. The price tested the level of 0.7360. Anyway, according to the H1 time - frame, I found a potential end of the expanded flat downward correction, which is a sign that selling looks risky. I also found a breakout of the suppy trendline in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 0.7440.
Resistance levels: R1: 0.7411R2: 0.7440R3: 0.7460
Support levels: S1: 0.7360S2: 0.7345S3: 0.7350 Trading recommendations for today: watch for potential buying opportunities.
Analysis of Gold for July 05, 2018
2018-07-05
Recently, Gold has been trading upwards. The price tested the level of $1,260.65. According to the H1 time frame, I found a breakout of a downward channel in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the MACD oscillator and bullish flag pattern in creation. My advice is to watch for a potential breakout of the bullish flag to confirm further upward continuation. The upward target is set at the price of $1,282.70.
Resistance levels:
R1: $1,260.91
R2: $1,265.70
R3: $1,269.00
Support levels:
S1: $1,254.80
S2: $1,251.50
S3: $1,247.70
Trading recommendations for today: watch for potential buying opportunities.
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