2018-10-30
Overview:
The EUR/USD pair continues to move downwards from the areas of 1.1475 and 1.1422. Last week, the pair dropped from the level of 1.1475 to 1.1356. Today, resistance is seen at the levels of 1.1422 and 1.1475. So, we expect the price to set below the strong resistance at the levels of 1.1475 and 1.1422; because the price is in a bearish channel now. Also, it should be noted that the price of 1.1457 is coincided with a ratio of 38.2% Fibonacci on the H4 chart. Amid the previous events, the price is still moving between the levels of 1.1422 and 1.1300. In overall, we still prefer the bearish scenario as long as the price is below the level of 1.1422. Furthermore, if the EUR/USD pair is able to break out the bottom at 1.1356, the market will decline further to 1.1295. On the other hand, if the price closes above the strong resistance of 1.1475, the best location for a stop loss order is seen above 1.1475.
Technical analysis of NZD/USD for October 30, 2018
2018-10-30
Overview:
The NZD/USD pair fell from the level of 0.6542 towards 0.6503. Now, the price is set at 0.6539. On the H1 chart, the resistance of USD/CHF pair is seen at the level of 0.6542 and 0.6574. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.6542 and 0.6478 in coming hours. Moreover, the price spot of 0.6542 remains a significant resistance zone. Therefore, there is a possibility that the NZD/USD pair will move downside and the structure of a fall does not look corrective. In order to indicate the bearish opportunity below 0.6542, sell below 0.6542 with the first target at 0.6503 in order to test yesterday's bottom. Additionally, if the NZD/USD pair is able to break out the bottom at 0.6503, the market will decline further to 0.6478 in order to test the weekly support 2. Also, it should be noticed that support 3 is seen at the level of 0.6439 which coincides the double bottom at the same time frame.
GBP/USD analysis for October 30, 2018
2018-10-30
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2754. According to the Daily time – frame, I found the bearish breakout of the 2-day balance, which is a sign that sellers are in control. The short – term trend is bearish and my advice is to go with direction of the trend. A downward take profit level is set at the price of 1.2660 (key short-term support).
Analysis of Gold for October 30, 2018
2018-10-30
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,219.15. According to the Daily time – frame, I have found weakness in the background and a broken support trendline, which is a sign that sellers are in control. I have also found a hidden bearish divergence on the RSI oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward take profit levels are set at the price of $1,215.60 and at the price of $1,207.95.
The EUR/USD pair continues to move downwards from the areas of 1.1475 and 1.1422. Last week, the pair dropped from the level of 1.1475 to 1.1356. Today, resistance is seen at the levels of 1.1422 and 1.1475. So, we expect the price to set below the strong resistance at the levels of 1.1475 and 1.1422; because the price is in a bearish channel now. Also, it should be noted that the price of 1.1457 is coincided with a ratio of 38.2% Fibonacci on the H4 chart. Amid the previous events, the price is still moving between the levels of 1.1422 and 1.1300. In overall, we still prefer the bearish scenario as long as the price is below the level of 1.1422. Furthermore, if the EUR/USD pair is able to break out the bottom at 1.1356, the market will decline further to 1.1295. On the other hand, if the price closes above the strong resistance of 1.1475, the best location for a stop loss order is seen above 1.1475.
Technical analysis of NZD/USD for October 30, 2018
2018-10-30
Overview:
The NZD/USD pair fell from the level of 0.6542 towards 0.6503. Now, the price is set at 0.6539. On the H1 chart, the resistance of USD/CHF pair is seen at the level of 0.6542 and 0.6574. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.6542 and 0.6478 in coming hours. Moreover, the price spot of 0.6542 remains a significant resistance zone. Therefore, there is a possibility that the NZD/USD pair will move downside and the structure of a fall does not look corrective. In order to indicate the bearish opportunity below 0.6542, sell below 0.6542 with the first target at 0.6503 in order to test yesterday's bottom. Additionally, if the NZD/USD pair is able to break out the bottom at 0.6503, the market will decline further to 0.6478 in order to test the weekly support 2. Also, it should be noticed that support 3 is seen at the level of 0.6439 which coincides the double bottom at the same time frame.
GBP/USD analysis for October 30, 2018
2018-10-30
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2754. According to the Daily time – frame, I found the bearish breakout of the 2-day balance, which is a sign that sellers are in control. The short – term trend is bearish and my advice is to go with direction of the trend. A downward take profit level is set at the price of 1.2660 (key short-term support).
Analysis of Gold for October 30, 2018
2018-10-30
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,219.15. According to the Daily time – frame, I have found weakness in the background and a broken support trendline, which is a sign that sellers are in control. I have also found a hidden bearish divergence on the RSI oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward take profit levels are set at the price of $1,215.60 and at the price of $1,207.95.
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