EURUSD is continuing a very technical way of trading. After bouncing from the neckline and breaking the lower line of the flag, the price continues to decline. Today, we managed to make new mid-term lows and it does not look like we are about to stop.
Gold used the ultra important mid-term support (green area) for a bounce. Buyers even managed to break the mid-term down trendline (red) but the stopped on the 50% Fibonacci. As long as we stay above the red line the sentiment is positive but the buy signal will be triggered once we will break the upper green area (50% Fibo).
NZDSGD is moving very technically. Situation is similar to this one on the EURUSD. We broke an important long-term support and now we are testing it as a resistance. The only difference is that it is not a neckline and the reversal movement here is locked inside of the wedge, not a flag. Breakout of the lower line of this formation should trigger a sell signal.
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New mid-term lows on EURUSD. Gold is 9USD from the buy signal.
Published 11/07/2017, 06:33 AM
New mid-term lows on EURUSD. Gold is 9USD from the buy signal.
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