EUR/USD Technical view
SPOT EUR/USD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 1.3541 | 1.3568 | 1.3506 | 1.3550 | 0.0011 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 1.3800 |
| R2 | 1.3670 |
| R1 | 1.3630 |
| |
| S1 | 1.3550 |
| S2 | 1.3470 |
| S3 | 1.3400 |
EURO ended the session on Monday flat, with a positive bias, versus the greenback, after a range bound session. The pair slipped below the previous session lows, but quickly rebounded to end the session with gains. The next stop for the EURO could be 1.3450- 1.3470; bottom end of the near term bearish channel, with the likelihood of the losses extending anywhere between 1.3300- 1.3400. The upside for now could be capped at 1.3650- 1.3700; top end of the near term bearish channel. The medium to long term view remains bullish for targets of 1.4200; targets for the symmetrical triangle in an uptrend
TREND DIRECTION
- Short term: Bearish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
- Hold on to short positions initiated at 1.3560 with a stop at 1.3590 for a profit target of 1.3470
- At 1.3660 with a stop at 1.3710 for a profit target of 1.3470
Long:
GBP/USD Technical view
SPOT GBP/USD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 1.6419 | 1.6452 | 1.6394 | 1.6429 | 0.0008 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 1.6700 |
| R2 | 1.6500 |
| R1 | 1.6440 |
| |
| S1 | 1.6400 |
| S2 | 1.6360 |
| S3 | 1.6270 |
Sterling ended the session on Monday flat, with a positive bias, versus the greenback, inching higher after a range bound session. Over the next few sessions, expect Sterling to continue oscillating between 1.6250- 1.6500. Close below 1.6250, the losses could extend to 1.6100; bottom end of the near term bullish channel, while a close above 1.6500, the gains could extend to 1.6650- 1.6700. Medium to long term view bullish for targets of 1.6900- 1.7200
TREND DIRECTION
- Short term: Bearish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
- At 1.6480 with a stop at 1.6530 for a profit target of 1.6360
Long:
- At 1.6260 with a stop at 1.6220 for a profit target of 1.6430
AUD/USD Technical view
SPOT AUD/USD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 0.8770 | 0.8820 | 0.8754 | 0.8809 | 0.0031 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 0.9020 |
| R2 | 0.8850 |
| R1 | 0.8830 |
| |
| S1 | 0.8750 |
| S2 | 0.8620 |
| S3 | 0.8480 |
The Aussie ended the session on Monday with gains of 0.35%, versus the US dollar, rebounding after four successive sessions of losses. The pair grazed crucial near term supports at 0.8750; bottom end of the near term bearish channel, before rebounding to close more than 0.50 percent higher from the session lows. Close below 0.8750, the losses are likely to extend to 0.8600- 0.8650, while the upside looks to be capped at 0.8800- 0.8850. The medium to long term view however, remains bearish for targets of 0.8400- 0.8500; targets for the symmetrical triangle in a downtrend
TREND DIRECTION
- Short term: Bearish
- Medium term: Bearish
- Long term: Bearish
TRADING RECOMMENDATIONS
Short:
- At 0.8845 with a stop at 0.8875 for a profit target of 0.8765
Long:
GOLD Technical view
SPOT GOLD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 1252.86 | 1260.15 | 1250.16 | 1253.19 | -0.14 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 1278.00 |
| R2 | 1270.00 |
| R1 | 1262.00 |
| |
| S1 | 1252.00 |
| S2 | 1245.00 |
| S3 | 1231.00 |
Spot gold ended the session on Monday very flat, pulling back from the session highs by more than 0.50 percent. Near term view bullish with the gains likely to extend to 1260.00- 1280.00, in the next few sessions. Crucial near term supports at 1250.00- 1252.00, break below which the losses could extend to 1225.00- 1230.00; bottom end of the near term bullish channel. The medium to long term view however, remains extremely bearish with spot gold likely to target 1000.00- 1050.00 per troy ounce; targets for the symmetrical triangle in a downtrend
TREND DIRECTION
- Short term: Bullish
- Medium term: Bearish
- Long term: Bearish
TRADING RECOMMENDATIONS
Short:
- At 1210.00 with a stop at 1218.00 for a target of 1190.00
Long:
- At 1230.00 with a stop at 1222.00 for a target of 1260.00
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