Prices trading at support and resistance…

Home / AUDUSD / Prices trading at support and resistance…

[ads]GBPUSD managed to close above 1.7043. If you had bought it, do take some profit off the table. From the monthly chart, the next target is 1.7491. Shift remainder trades to 1 pip above entry.

EURUSD, price showed bearishness at 1.3689. You would have shorted on July 3rd and targeted the 21sma which was achieved on the same day. Price is still bearish for the moment. Wait till it establishes support. Good place to look is the 1.3538 area.

AUDUSD. Price did close above but the next day, we had a dark cloud cover forming at 0.9427 resistance. Warning signs for those who insist on buying at this level. On 3rd July price traded downwards from the get go and never looked back. Price is taking a breather at support of 0.9321. If price managed to close below 0.9329, it will go down further to 0.9242. Monthly chart show price testing resistance.

EURGBP. Price close below 16th June low of 0.7958 and trade lower. Look for support is 0.7838.

GOLD. Price trading in a tight range of 1332 – 1305. Strong close above 1332 would see price move higher and strong close below 1305 would see price move downwards. If move down target the 21sma on D1. Move upwards, target 1347.

USDX. Trading in a tight range 79.88 and 80.31. Price found support at 79.88 and formed a morning star which is a bullish pattern. Price then went up till the next resistance at 80.31.

Monday is an observing day as price are not showing any trade opportunities. Will updates as I see trades coming.