2018-10-03
EUR/USD has touched the support trend line we showed yesterday for the 8th time and prices bounced strongly from 1.1505 to 1.1590. Price is making higher highs and higher lows in short time frames. Bulls need to hold above 1.1534 in order for the bullish short-term trend to remain intact.
Red line - major resistance
Blue line - major support
EUR/USD is bouncing. Next resistance is at 1.1630. Support is at 1.1530-1.15. The bounce will continue higher as long as price is above 1.1530. I expect EUR/USD to move higher over the coming weeks above the red trend line resistance. The recent low could be an important one, but this will be more certain if price breaks above 1.1630.
Technical analysis of Gold for October 3, 2018
2018-10-03
Gold price broke above the short- and long-term bearish channels. Price is back above $1,200. As long as we trade above $1,190, I expect Gold to move higher towards $1,220-30 area.
Blue line - major support
EUR/USD is bouncing. Next resistance is at 1.1630. Support is at 1.1530-1.15. The bounce will continue higher as long as price is above 1.1530. I expect EUR/USD to move higher over the coming weeks above the red trend line resistance. The recent low could be an important one, but this will be more certain if price breaks above 1.1630.
Technical analysis of Gold for October 3, 2018
2018-10-03
Gold price broke above the short- and long-term bearish channels. Price is back above $1,200. As long as we trade above $1,190, I expect Gold to move higher towards $1,220-30 area.
Green lines - long-term bearish channel
Red lines - short-term bearish channel
Gold price is trading around $1,203. Gold bulls will need to break above the next resistance at $1,211 in order to continue higher towards $1,220-30 area. Gold price breaking above the bearish channels is a positive sign. A rejection at current levels and a push below $1,200 will not be a positive sign.
The move towards $1,180 was most probably a fake break down. This will be confirmed on a break above $1,211.
Red lines - short-term bearish channel
Gold price is trading around $1,203. Gold bulls will need to break above the next resistance at $1,211 in order to continue higher towards $1,220-30 area. Gold price breaking above the bearish channels is a positive sign. A rejection at current levels and a push below $1,200 will not be a positive sign.
The move towards $1,180 was most probably a fake break down. This will be confirmed on a break above $1,211.
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