Technical analysis – Follow previous price motion and use indicators

The method of following previous price motion and using indicators to understand the direction of the current price is known as technical analysis. In currency trading, it is the most effective in terms of time. When utilizing the automated system, entry and exit positions are determined and trades are identified using a robot or software.
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Gold Price Daily Chart Suggest Support Formation

Gold Price Daily Chart Suggest Support Formation Key Highlights There was a solid decline in Gold price against the US Dollar, taking it below the $1200 support area. The price recently traded a few points below the $1160 level before starting a consolidation. Today in China, the Consumer Price Index released by the National Bureau of Statistics of China posted a ri...
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Gold Price May Correct Lower Versus US Dollar?

Gold Price May Correct Lower Versus US Dollar? Key Highlights Gold price rocketed higher this week against the US Dollar, as the latter one weakened recently. The upside in Gold was stopped near a major resistance trend line on the 4-hours chart. Today in China, the Consumer Price Index was released by the National Bureau of Statistics of China. The forecast was ...
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GOLD At Clear Risk of Further Upsides

GOLD At Clear Risk of Further Upsides Key Highlights Gold price rallied recently against the US dollar and traded above the $1340 level. There is a monster bearish trend on the 4-hours chart of GOLD, waiting to act as a barrier for buyers. Today in the US, the Initial Jobless Claims figure will be reported by the US Department of Labor. The market is expecting a ...
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NZDUSD – Kiwi Dollar Remains at Risk for Key Reasons

NZDUSD – Kiwi Dollar Remains at Risk for Key Reasons Key Highlights The New Zealand Dollar traded lower against the US Dollar recently, and was under a lot of bearish pressure. There was a monster bullish trend line formed on the 4-hours chart of the NZDUSD pair, which was surpassed by sellers during the recent losses. The NZDUSD pair also traded below the 100 sim...
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Gold Buyers Sighting US Nonfarm Payrolls For Next Move

Gold Buyers Sighting US Nonfarm Payrolls For Next Move Key Highlights             Gold prices gained vs the US Dollar recently, and traded above the $1250 level. The price also broke a major resistance area near $1260, which may now act as a support if Gold moves down from the current levels. On Friday, in the US, the nonfarm payrolls figure will be releas...
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GOLD Just Broke Major Support Area?

GOLD Just Broke Major Support Area? Key Highlights             GOLD enjoyed a nice ride during the past couple of weeks, but it looks like it may have made a short-term top. The US Dollar seems to be gaining back bids, which may help GOLD sellers to retain traction. There is a support trend line formed on the 4-hours chart, which was cleared by sellers to ...
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EURUSD 1.1294 Eyes More Losses Post Critical Break

Key Highlights Euro after trading as high as 1.1294 started to move lower and traded below a major support area. A bullish trend line on the hourly chart was broken to open the doors for more losses. The EURUSD pair settled below the 100 hourly simple moving average, which is a negative sign. In the US, the Pending Home Sales report will be released by the National As...
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EURUSD around 1.1460 – EUR at Clear Risk of Further Declines

Key Highlights Euro after a nice ride against the US Dollar found resistance around 1.1460 and traded lower. An important support trend line was cleared, which points that more declines are possible moving ahead. New Zealand Westpac Consumer Confidence released by Westpac New Zealand declined from 113 to 106 in the third quarter of 2015. EURUSD Technical Analysis ...
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USDCAD under Pressure and Awaits Canada CPI Report

Key Highlights US Dollar collapsed recently against the Canadian dollar and a few other major currencies, as the Fed rate decision failed to help the greenback. Canadian Consumer Price Index (CPI) will be released by the Statistics Canada with the forecast of no change in the CPI in August 2015, compared with the preceding month. In China today, the housing price index,...
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