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Technical Analysis
Daily Technical by AAATrade
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[QUOTE="AAATrade, post: 107513, member: 36114"] [B][U]AUD/USD[/U][/B] [IMG]https://s10.postimg.org/z9ruzhiop/AUDUSD_11_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 0.7705 with targets @ 0.7749 & 0.7799 [B]Market Scenario 2: [/B]Short positions below 0.7705 with targets @ 0.7655 & 0.7611 [B]Comment: [/B]The Aussie pair rallied against the US dollar during yesterday’s trading session, to its highest level 0.77535 since April 27th. Despite the pull back, the pair continues trading with a positive sentiment above the pivot point level. [B]Supports and Resistances:[/B] R3 0.7843 R2 0.7799 R1 0.7749 PP 0.7705 S1 0.7655 S2 0.7611 S3 0.7561 [B][U]EUR/JPY [IMG]https://s9.postimg.org/yyk0fnxe7/EURJPY_11_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 113.14 with targets @ 113.50 & 113.82 [B]Market Scenario 2: [/B]Short positions below 113.14 with targets @ 112.82 & 112.46 [B]Comment: [/B]European currency during yesterday’s session against Japanese Yen traded in a choppy sentiment. Today the pair is trading in a negative bias trading slightly below the pivot level moving towards the initial S1 level at 112.82. [B]Supports and Resistances:[/B] R3 114.18 R2 113.82 R1 113.50 PP 113.14 S1 112.82 S2 112.46 S3 112.14 [B][U]EUR/USD[/U][/B] [IMG]https://s9.postimg.org/9g3h9k4gv/EURUSD_11_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 1.1158 with targets @ 1.1206 & 1.1236 [B]Market Scenario 2: [/B]Short positions below 1.1158 with targets @ 1.1128 & 1.1080 [B]Comment: [/B]European currency during yesterday’s session rallied against the US Dollar closing in a positive candle for the day. Today the pair has lost some positive momentum trading below the pivot point level. R3 1.1284 R2 1.1236 R1 1.1206 PP 1.1158 S1 1.1128 S2 1.1080 S3 1.1050 [B][U]GBP/JPY [IMG]https://s10.postimg.org/5feopgagp/GBPJPY_11_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 132.03 with targets @ 132.50 & 133.29 [B]Market Scenario 2: [/B]Short positions below 132.03 with targets @ 131.24 & 130.77 [B]Comment: [/B]Sterling during yesterday’s session drifted lower against the Japanese Yen. Today GBPJPY continues trading in a negative sentiment below the pivot point level reaching initial S1 level at 131.24. [B]Supports and Resistances:[/B] R3 133.79 R2 133.29 R1 132.50 PP 132.03 S1 131.24 S2 130.77 S3 129.98 [B][U]GBP/USD [IMG]https://s9.postimg.org/hrp15lne7/GBPUSD_11_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1.3030 with targets @ 1.3071 & 1.3133 [B]Market Scenario 2: [/B]Short positions below 1.3030 with targets @ 1.2968 & 1.2927 [B]Comment: [/B]Sterling during yesterday’s session went back and forth against US Dollar, closing the session almost unchanged. Today, the pair trades in a negative bias below the pivot point level attempting to reach the initial support level S1 at 1.2968. [B]Supports and Resistances:[/B] R3 1.3174 R2 1.3133 R1 1.3071 PP 1.3030 S1 1.2968 S2 1.2927 S3 1.2865 [B][U]USD/JPY [IMG]https://s10.postimg.org/fs5pnlkhl/USDJPY_11_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 101.39 with targets @ 101.82 & 102.38 [B]Market Scenario 2: [/B]Short positions below 101.39 with targets @ 100.83 & 100.40 [B]Comment:[/B] US Dollar during yesterday’s session fell against Japanese Yen closing the day in a negative sentiment. Today the pair continues trading in a negative bias below the pivot point level. Strong supportive floor on the pair close to the 100 levels. [B]Supports and Resistances:[/B] R3 102.81 R2 102.38 R1 101.82 PP 101.39 S1 100.83 S2 100.40 S3 99.84 [B][U]GOLD[/U][/B] [IMG]https://s9.postimg.org/6ky8q33kf/GOLD_11_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 1347.69 with targets @ 1355.71 & 1365.08 [B]Market Scenario 2: [/B]Short positions below 1347.69 with targets @ 1338.32 & 1330.30 [B]Comment: [/B]Gold during yesterday’s session traded slightly higher but lost its sentiment throughout the session. Today Bullion continues is trading in a negative sentiment below the pivot point level as investors evaluate the likelihood of the Fed raising interest rates during this year. [B]Supports and Resistances[/B] R3 1382.47 R2 1365.08 R1 1355.71 PP 1347.69 S1 1338.32 S2 1330.30 S3 1312.91 [B][U]CRUDE OIL [IMG]https://s9.postimg.org/hhacgu233/Crude_Oil_11_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 42.08 with targets @ 42.75 & 44.04 [B]Market Scenario 2: [/B]Short positions below 42.08 with targets @ 40.79 & 40.12 [B]Comment:[/B] The WTI Crude Oil market initially trying to rally during the course of the session on Wednesday, but turned right back around to form a negative candle. Today Crude is trading below the point level in a negative bias. [B]Supports and Resistances:[/B] R3 46.00 R2 44.04 R1 42.75 PP 42.08 S1 40.79 S2 40.12 S3 38.16 [B] [U]USD/RUB [IMG]https://s9.postimg.org/jca127q67/USDRUB_11_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 63.72 with targets @ 64.27 & 64.59 [B]Market Scenario 2: [/B]Short positions below 63.72 with targets @ 63.41 & 62.85 [B]Comment: [/B]US Dollar during yesterday’s session traded lower against the Russian ruble, breaking the range trading of the previous days, however managed to close in a positive candle. Today the pair is trading above the Pivot Point level. [B]Supports and Resistances:[/B] R3 65.46 R2 64.59 R1 64.27 PP 63.72 S1 63.41 S2 62.85 S3 61.98 [I]*Risk Disclosure: The purpose of this risk disclaimer is to inform users of the potential financial risks involved in trading in foreign currencies. The transaction or operations in the Forex or fx markets does involve a substantial degree of risk, and should not be undertaken until the user has carefully evaluate whether their financial situation is appropriate for such transactions. Trading may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital.[/I] [/QUOTE]
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