EUR/USD Technical view
SPOT EUR/USD Previous day OHLC
Open | High | Low | Close | Change |
| | |
1.3588 | 1.3652 | 1.3570 | 1.3627 | 0.0040 |
Today's Support and Resistance
Resistance |
Support |
R3 | 1.3900 |
R2 | 1.3800 |
R1 | 1.3630 |
| |
S1 | 1.3600 |
S2 | 1.3560 |
S3 | 1.3460 |
EURO ended the session on Monday with gains of 0.29%, versus the greenback, capping two successive sessions of losses. The pair rebounded from the session lows and near crucial supports at 1.3550; bottom end of the medium term bullish channel, where the downside is likely to be capped before rallying to 1.3800- 1.3900. However, close below 1.3550, EURO is expected to slide to 1.3350, negating the near term bullish view. 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: Bullish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
Long:
- At.1.3580 with a stop at 1.3530 for a profit target of 1.3800
GBP/USD Technical view
SPOT GBP/USD Previous day OHLC
Open | High | Low | Close | Change |
| | |
1.6408 | 1.6433 | 1.6336 | 1.6404 | -0.0009 |
Today's Support and Resistance
Resistance |
Support |
R3 | 1.6600 |
R2 | 1.6500 |
R1 | 1.6460 |
| |
S1 | 1.6320 |
S2 | 1.6260 |
S3 | 1.6180 |
Sterling ended the session on Monday flat with a negative bias, versus the greenback, extending its losses to the third successive session. The pair however rebounded from the session lows by more than 0.40 percent to close almost flat for the day. Although the near term view remains bullish, there is a possibility of the pair testing supports at 1.6250- 1.6300; bottom end of the medium term bullish channel. On the upside, close above 1.6500, Sterling is likely to rally to 1.6700- 1.6800, with the medium to long term targets placed at 1.7100- 1.7200.
TREND DIRECTION
- Short term: Bullish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
Long:
- At 1.6310 with a stop at 1.6240 for a profit target of 1.6500
GOLD Technical view
SPOT GOLD Previous day OHLC
Open | High | Low | Close | Change |
| | |
1236.48 | 1248.30 | 1232.64 | 1237.59 | 1.43 |
Today's Support and Resistance
Resistance |
Support |
R3 | 1286.00 |
R2 | 1262.00 |
R1 | 1245.00 |
| |
S1 | 1224.00 |
S2 | 1216.00 |
S3 | 1192.00 |
Spot gold ended the session on Monday flat, with a positive bias, inching higher to close the fifth successive session, the longest since August 2013. Near term, the precious metal is likely to rally anywhere between 1260.00- 1300.00 per troy ounce with crucial near term supports placed at 1215.00- 1225.00. ONLY a close below the supports will negate the near term bullish view. The medium to long term view 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:
- Hold on to long positions initiated at 1230.00 with a stop at 1220.00 for a profit target of 1256.00
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