2018-12-24
The EUR/USD pair had another failed attempt to break above resistance on Friday. The price got rejected at the major trend line resistance and pulled back below 1.14 towards the 1.1350-1.1370 support area. The price remains within the trading range.
Yellow rectangles - trading range
Red line - major trend line resistance
Green line - trend line RSI Support
EUR/USD remains within the trading range. It is safer to wait for a clear breakout before acting. However, the major bullish divergence implies that it is more likely to see a move higher. This move higher will be confirmed once the red trend line is broken. And we will remain on the bullish side as long as the green trend line support of the RSI is not broken downwards.
Technical analysis for Gold for December 24, 2018
2018-12-24
Gold price has made a new higher maximum. However, there are some bearish divergence signs on the H4 chart that provide a warning for bulls. The price has stopped at the 50% Fibonacci retracement of the decline from $1,365. We must keep an eye on the RSI resistance trend line to find a clue for a rejection or an upside.
Red line - major trend line resistance
Green line - trend line RSI Support
EUR/USD remains within the trading range. It is safer to wait for a clear breakout before acting. However, the major bullish divergence implies that it is more likely to see a move higher. This move higher will be confirmed once the red trend line is broken. And we will remain on the bullish side as long as the green trend line support of the RSI is not broken downwards.
Technical analysis for Gold for December 24, 2018
2018-12-24
Gold price has made a new higher maximum. However, there are some bearish divergence signs on the H4 chart that provide a warning for bulls. The price has stopped at the 50% Fibonacci retracement of the decline from $1,365. We must keep an eye on the RSI resistance trend line to find a clue for a rejection or an upside.
Blue line - short-term trend line support
Yellow line - bearish RSI divergence
Green line - major trend line support
Gold price continues to make higher highs and higher lows. The RSI is diverging on the H4 chart. A break above the yellow trend line resistance of the RSI would be a sign of strength and I would not go against it. A rejection at the current levels and a break below the short-term support at $1,253 would open a way for a pullback towards the short-term trend line support near $1,240.
Yellow line - bearish RSI divergence
Green line - major trend line support
Gold price continues to make higher highs and higher lows. The RSI is diverging on the H4 chart. A break above the yellow trend line resistance of the RSI would be a sign of strength and I would not go against it. A rejection at the current levels and a break below the short-term support at $1,253 would open a way for a pullback towards the short-term trend line support near $1,240.
Get Bonus No Deposite in your Trading Account now and add this currency pair to your forex portfolio, enjoy your trading with us!
No comments:
Post a Comment