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The Technical Confluences Indicator shows that the recent surge in the EUR/USD sent it piercing through a dense area of resistance levels. The $1.2325 to $1.2335 area it had struggled with is the confluence of the SM100-15m, the SMA10- one day, the 1h low, the SMA10-1h, the SMA200-4h, the Bolinger Band 1h-Middle (Stdv 2.2), the BB 1d-Middle, the SMA-t-1hv, [...]
The post After Nowotny sends EUR/USD highs, real resistance is around 1.2420 appeared first on Forex Crunch.
The GBP/USD rises to new highs around $1.4170 and consolidates its gains. Speeches by Chinese President Xi and BOC member McCafferty boost the pair. The technical picture remains bullish, pointing to further potential gains. The GBP/USD is trading around $1.4170, up around 0.25% on the day. The first boost was a global one. Chinese President [...]
The post Xi and McCafferty send GBP/USD to charge the channel appeared first on Forex Crunch.
XAUUSD produced another Bullish Daily candle yesterday. Today’s first H4 candles came out as Bearish candles. However, the price got held by a significant level of Support level. If the level produces an H4 Bullish Engulfing Candle, then an H1 breakout towards the upside would drive gold’s price to make new higher high today. Let us have a look at the H4 XAUUSD chart.
XAUUSD Price Action Analysis – 10th April 2018
See first two H4 candles were Bearish. The level of 1330.55 might come into play and work as a level of Support here. If that happens and we get an H4 Bullish Engulfing candle right on the level, then we would have to wait for an H1 breakout at the level of 1337.55 to take a long entry. At first, an H4 Bullish Engulfing candle and then an H1 breakout would make the price reach the level of 1347.55 without having that many pauses. Let us have a look at the summary of the trade…
Most of the pairs had a corrective day yesterday. It suggests that this week might be a slow week. Thus, the traders have to keep their patience and wait for the best opportunities to take their entries. The opportunities will come. In some weeks, the market offers us 6/7 entries whereas, in some weeks, it offers us only 2/3 entries. By looking at the start of this week, it seems we might have to be happy with 2/3 entries this week.
The post XAUUSD Price Action Analysis – 10th April 2018 appeared first on Advanced Forex Strategies.