2018-08-15
Overview:
The AUD/USD pair opened below the weekly pivot point (0.7234). It continued to move downwards from the level of 0.7234 to the bottom around 0.7202. But the pair rebounded towards the daily pivot point again. Today, the first resistance level is seen at 0.7263 followed by 0.7299, while daily support 1 is seen at 0.7167. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.7234. So it will be good to sell at 0.7234 with the first target of 0.7167. It will also call for a downtrend in order to continue towards 0.7135.
The strong daily support is seen at the 0.7135 level on the H1 chart. According to the previous events, we expect the AUD/USD pair to trade between 0.7234 and 0.7135 in coming hours. The price area of 0.7299 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.7299 is not broken. On the contrary, in case a reversal takes place and the AUD/USD pair breaks through the resistance level of 0.7299, then a stop loss should be placed at 0.7330.
Technical analysis of GBP/USD for August 15, 2018
2018-08-15
The AUD/USD pair opened below the weekly pivot point (0.7234). It continued to move downwards from the level of 0.7234 to the bottom around 0.7202. But the pair rebounded towards the daily pivot point again. Today, the first resistance level is seen at 0.7263 followed by 0.7299, while daily support 1 is seen at 0.7167. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.7234. So it will be good to sell at 0.7234 with the first target of 0.7167. It will also call for a downtrend in order to continue towards 0.7135.
The strong daily support is seen at the 0.7135 level on the H1 chart. According to the previous events, we expect the AUD/USD pair to trade between 0.7234 and 0.7135 in coming hours. The price area of 0.7299 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.7299 is not broken. On the contrary, in case a reversal takes place and the AUD/USD pair breaks through the resistance level of 0.7299, then a stop loss should be placed at 0.7330.
Technical analysis of GBP/USD for August 15, 2018
2018-08-15
Overview:
The daily pivot point is seen at the price of 0.2780. The GBP/USD pair hit the weekly support levels of 0.2780 and 0.2722 last week. Thus, it dropped down in order to bottom at the point of 1.2780. Today, the pair is trading below its pivot point (1.2780). It is likely to trade in a higher range as long as it remains below the level of 1.2780. Hence, the minor resistance was already set at the level of 1.2780. Moreover, the weekly resistance is also coinciding around the major support around the area of 1.2837. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100. Therefore, it will be advantageous to sell below the current level of 1.2780 with the first target at 1.2700. From this point, if the pair closes below the dily support of 1.2700 on the H1 chart, the GBP/USD pair may resume its movement to 1.2670 in order to retest the weekly support 2. On the other hand, stop loss should always be taken into account, accordingly, it will be beneficial to set the stop loss below the last bullish wave at 1.2840.
EUR/USD analysis for August 15, 2018
2018-08-15
Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.1315. According to the M30 time – frame, I found that price is trading below the daily pivot (1.1366), which is a sign that sellers are in control. I also found that price is below macd predictor, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1269 and at the price of 1.1236.
Resistance levels:
R1: 1.1404
R2: 1.1465
R3: 1.1503
Support levels:
S1: 1.1305
S2: 1.1269
S3: 1.1206
Trading recommendations for today: watch for potential selling opportunities.
Analysis of Gold for August 15, 2018
2018-08-15
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,184.20. According to the M30 time – frame, I found a broken bearish flag in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $1,179.00.
Resistance levels:
R1: $1,197.00
R2: $1,201.07
R3: $1,204.00
Support levels:
S1: $1,190.65
S2: $1,187.80
S3: $1,184.00
Trading recommendations for today: watch for potential selling opportunities.
Intraday technical levels and trading recommendations for EUR/USD for August 15, 2018
2018-08-15
Daily Outlook
In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).
The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets.
Instead, a descending high was established around 1.1800.
Currently, the EUR/USD pair is testing the price zone of 1.1450-1.1370 (demand zone) where the depicted trend lines are located on the depicted weekly chart.
As anticipated, bearish closure below 1.1400 was achieved. This allowed a quick decline towards 1.1300.
For further bearish decline to occur, the pair needs obvious bearish breakdown below 1.1375. Initial bearish targets would be located around 1.1275 then 1.1120 if enough bearish pressure is applied.
Hence, the EUR/USD short-term outlook remains bearish towards the mentioned levels unless bullish breakout above 1.1420 is achieved. This would pause the ongoing bearish momentum allowing bullish pullback to take place.
NZD/USD Intraday technical levels and trading recommendations for August 15, 2018
2018-08-15
Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350).
Quick bearish decline took place towards 0.6700-0.6800 where narrow ranged consolidation range was established.
On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.
However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.
On August 9, bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the current bearish decline to occur towards 0.6600-0.6570.
The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.
On the other hand, conservative traders should wait for bullish pullback towards 0.6700-0.6720 for a low-risk SELL entry.
The daily pivot point is seen at the price of 0.2780. The GBP/USD pair hit the weekly support levels of 0.2780 and 0.2722 last week. Thus, it dropped down in order to bottom at the point of 1.2780. Today, the pair is trading below its pivot point (1.2780). It is likely to trade in a higher range as long as it remains below the level of 1.2780. Hence, the minor resistance was already set at the level of 1.2780. Moreover, the weekly resistance is also coinciding around the major support around the area of 1.2837. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100. Therefore, it will be advantageous to sell below the current level of 1.2780 with the first target at 1.2700. From this point, if the pair closes below the dily support of 1.2700 on the H1 chart, the GBP/USD pair may resume its movement to 1.2670 in order to retest the weekly support 2. On the other hand, stop loss should always be taken into account, accordingly, it will be beneficial to set the stop loss below the last bullish wave at 1.2840.
EUR/USD analysis for August 15, 2018
2018-08-15
Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.1315. According to the M30 time – frame, I found that price is trading below the daily pivot (1.1366), which is a sign that sellers are in control. I also found that price is below macd predictor, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1269 and at the price of 1.1236.
Resistance levels:
R1: 1.1404
R2: 1.1465
R3: 1.1503
Support levels:
S1: 1.1305
S2: 1.1269
S3: 1.1206
Trading recommendations for today: watch for potential selling opportunities.
Analysis of Gold for August 15, 2018
2018-08-15
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,184.20. According to the M30 time – frame, I found a broken bearish flag in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $1,179.00.
Resistance levels:
R1: $1,197.00
R2: $1,201.07
R3: $1,204.00
Support levels:
S1: $1,190.65
S2: $1,187.80
S3: $1,184.00
Trading recommendations for today: watch for potential selling opportunities.
Intraday technical levels and trading recommendations for EUR/USD for August 15, 2018
2018-08-15
Daily Outlook
In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).
The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets.
Instead, a descending high was established around 1.1800.
Currently, the EUR/USD pair is testing the price zone of 1.1450-1.1370 (demand zone) where the depicted trend lines are located on the depicted weekly chart.
As anticipated, bearish closure below 1.1400 was achieved. This allowed a quick decline towards 1.1300.
For further bearish decline to occur, the pair needs obvious bearish breakdown below 1.1375. Initial bearish targets would be located around 1.1275 then 1.1120 if enough bearish pressure is applied.
Hence, the EUR/USD short-term outlook remains bearish towards the mentioned levels unless bullish breakout above 1.1420 is achieved. This would pause the ongoing bearish momentum allowing bullish pullback to take place.
NZD/USD Intraday technical levels and trading recommendations for August 15, 2018
2018-08-15
Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350).
Quick bearish decline took place towards 0.6700-0.6800 where narrow ranged consolidation range was established.
On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.
However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.
On August 9, bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the current bearish decline to occur towards 0.6600-0.6570.
The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.
On the other hand, conservative traders should wait for bullish pullback towards 0.6700-0.6720 for a low-risk SELL entry.
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