2018-07-27
NZD/USD is approaching support at 0.6770 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizotnal swing low support) where we expect to see a bounce up to its resistance at 0.6823 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is testing its support at 3% where a corresponding bounce could occur.
NZD/USD is approaching its support where we expect to see a bounce.
Buy entry 0.6770. Stop loss 0.6741. Take profit at 0.6823.
USD/CAD analysis for July 27, 2018
2018-07-27
Recently, the USD/CAD has been trading sideways at the price of 1.3067. According to the H1 time – frame, I found a breakout of bullish flag pattern in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3092, 1.3120, and at the price of 1.3165.
Resistance levels:
R1: 1.3100
R2: 1.3130
R3: 1.3170
Support levels:
S1: 1.3033
S2: 1.2995
S3: 1.2965
Trading recommendations for today: watch for potential buying opportunities.
Technical analysis of EUR/USD for July 27, 2018
2018-07-27
Overview:The EUR/USD pair continues to trade downwards from the level of 1.1752 (pivot). Besides, it should be noted that the level of 1.1752 coincides with the pivot point. This week, the pair has dropped from the level of 1.1752 to the bottom around 1.1678. Today, the first support level is seen at 1.1694, the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 1.1752, which coincides with the 50% Fibonacci retracement level. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the EUR/USD pair is able to break out the first support at 1.1694, the market will decline further to 1.1623 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1752 with the first target at 1.1663 and further to 1.1566. However, stop loss is to be placed above the level of 1.1813.
Technical analysis of GBP/USD for July 27, 2018
2018-07-27
Overview:Pivot point: 1.3115.
The GBP/USD pair is in the bullish trend from the support levels of 1.3056 and 1.3115. The price is currently in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 1.3115, which coincides with daily pivot point. Consequently, the first support is set at the level of 1.3115. So, the market is likely to show signs of a bullish trend around the spot of 1.3115. In other words, buy orders are recommended above the pivot (1.3115) with the first target at the level of 1.3209. Furthermore, if the trend is able to breakout through the first resistance level of 1.3209. We should see the pair climbing towards the double top (1.3362) to test it in the long term. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.3050.
Analysis of Gold for July 27, 2018
2018-07-27
Recently, Gold has been trading downwards. The price tested the level of $1.218. According to the H1 time – frame, I found ф breakout of the bearish flag pattern and the major upward trendline in the background, which is a sign that buying looks risky and that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,211.22.
Resistance levels:
R1: $1,321.85
R2: $1.240.30
R3: $1,245.35
Support levels:
S1: $1,218.35
S2: $1,213.30
S3: $1,204.85
Trading recommendations for today: watch for potential selling opportunities.
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