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[FOREX TIP] NZDUSD Price Action Analysis – 1st Nov 2018

NZDUSD has been Bearish on the H4 chart. Yesterday’s Daily candle came out as a strong Bearish candle. However, today’s first H4 candle came out as a Bullish Engulfing candle and was produced at a significant level of Support. This means H4 NZDUSD chart has something to offer if we get an upside breakout. Let us have a look at the H4 NZDUSD chart.

NZDUSD Price Action Analysis – 1st Nov 2018

The level of 0.65100 is the level of Support here. That massive H4 Bullish Engulfing Candle makes a strong statement that the pair might have found a strong level of Support here. The current H4 candle has been a Bullish candle too. Now what we have to wait here for is an upside breakout. The level of 0.65670 is the level of Resistance, which has to be broken. This means this is the breakout level that holds the key for the whole equation. Let us have a look at the summary of the trade…

• Buy Stop Order: 0.65670
• Stop loss: 0.65100
• Take profit: 0.66550
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

NZDUSD pair had been Bearish on the H4 chart for a long time. The pair seemed to make some upward correction first. However, at the moment it seems that the pair had some downward correction on the Daily chart. Thus, if it starts going upward then the pair would be heading towards the North on the Daily chart. So the chart we have shared, this move can be a vital move. Let us keep our eyes on the pair to find out what happens.

The post NZDUSD Price Action Analysis – 1st Nov 2018 appeared first on Advanced Forex Strategies.

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[FOREX TIP] Gold Price Action Analysis – 31st Oct 2018

GOLD price is at an interesting level. The H4 chart shows that the level was obeyed by the price a number of times. By looking at the H4 chart, it seems that if the level is held as the Support level and we get an upward breakout, then Gold price would head towards the North.

Gold Price Action Analysis – 31st Oct 2018

The level of 1219.25 is the level, which holds the key. If this level continues to hold the price and produces an H4 Bullish Engulfing Candle, then we might get an opportunity to buy Gold and make some green pips. The level of 1222.99 is the level to be broken here by an H4 candle. If we get an H4 breakout and an H1 Bullish Engulfing Candle right at the breakout level at the time of correction, then Gold would head towards the level of 1235.55. Let us have a look at the summary of the trade…

• Buy Stop Order: 1222.99
• Stop loss: 1219.25
• Take profit:  1235.55
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

The Support level that holds the key here is an important level. We are assuming that the level would act as the Support level here; however, it could work as a level of Resistance here if the price of Gold keeps going towards the downside and makes an H4 breakout at that level. Things would be very different. We would have to look for Short opportunities instead of buying opportunities then. Let us wait and see what actually happens here.

The post Gold Price Action Analysis – 31st Oct 2018 appeared first on Advanced Forex Strategies.

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