Written by: PaxForex analytics dept - Wednesday, 29 August 2018
The price is below the moving average 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero level.
If the level of support is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.6580
• Take Profit Level: 1.6350 (230 pips)
If the price rebound from support level, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.6680
• Take Profit Level: 1.6750 (70 pips)
GOLD
Possible short position in the breakdown of the level 1298.00
EURUSD
Possible long position at the breakout of the level 1.1700
USDCHF
Possible short position in the breakdown of the level 0.9740
USDJPY
Possible long position at the breakout of the level 111.40
MACD is below the zero level.
The oscillator Force Index is below the zero level.
If the level of support is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.6580
• Take Profit Level: 1.6350 (230 pips)
If the price rebound from support level, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.6680
• Take Profit Level: 1.6750 (70 pips)
GOLD
Possible short position in the breakdown of the level 1298.00
EURUSD
Possible long position at the breakout of the level 1.1700
USDCHF
Possible short position in the breakdown of the level 0.9740
USDJPY
Possible long position at the breakout of the level 111.40
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