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Technical Analysis
Daily Technical by AAATrade
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[QUOTE="AAATrade, post: 107634, member: 36114"] [B][U]AUD/USD[/U][/B] [IMG]https://s10.postimg.org/ix9i354y1/AUDUSD_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 0.7711 with targets @ 0.7732 & 0.7765 [B]Market Scenario 2: [/B]Short positions below 0.7711 with targets @ 0.7678 & 0.7657 [B]Comment: [/B]The Aussie pair went back and forth against the US dollar during yesterday’s trading session. Today, the pair is trading in a negative sentiment below the pivot point level, having attempted to break the initial support level at 0.7678. [B]Supports and Resistances:[/B] R3 0.7786 R2 0.7765 R1 0.7732 PP 0.7711 S1 0.7678 S2 0.7657 S3 0.7624 [B][U]EUR/JPY[/U][/B] [IMG]https://s10.postimg.org/sqwhtmupl/EURJPY_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 113.31 with targets @ 113.91 & 114.30 [B]Market Scenario 2: [/B]Short positions below 113.31 with targets @ 112.92 & 112.32 [B]Comment: [/B]European currency during yesterday’s session against Japanese Yen traded in a back and forth motion but managed to close in a positive candle for the day. Today the pair continues its positive sentiment trading above the pivot point level attempting to breach the initial R1 level at 113.91. [B]Supports and Resistances:[/B] R3 114.90 R2 114.30 R1 113.91 PP 113.31 S1 112.92 S2 112.32 S3 111.93 [B][U]EUR/USD [IMG]https://s10.postimg.org/ivwj4dwa1/EURUSD_12_08_2016.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1.1154 with targets @ 1.1174 & 1.1210 [B]Market Scenario 2: [/B]Short positions below 1.1154 with targets @ 1.1118 & 1.1098 [B]Comment: [/B]European currency during yesterday’s session initially rallied against the US Dollar and then fell again closing the day on a negative tone. Today the pair has not done much since opening however is trading below the pivot point level. R3 1.1230 R2 1.1210 R1 1.1174 PP 1.1154 S1 1.1118 S2 1.1098 S3 1.1062 [B][U]GBP/JPY[/U][/B] [IMG]https://s9.postimg.org/4c0ohkckv/GBPJPY_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 131.77 with targets @ 132.53 & 133.01 [B]Market Scenario 2: [/B]Short positions below 131.77 with targets @ 131.29 & 130.53 [B]Comment: [/B]Sterling during yesterday’s session initially drifted lower against the Japanese Yen but turned around and closed the session positively. Today GBPJPY continues trading in a positive sentiment above the pivot point level. [B]Supports and Resistances:[/B] R3 133.77 R2 133.01 R1 132.53 PP 131.77 S1 131.29 S2 130.53 S3 130.05 [B][U]GBP/USD[/U][/B] [IMG]https://s9.postimg.org/62uevgrsv/GBPUSD_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 1.2972 with targets @ 1.3010 & 1.3064 [B]Market Scenario 2: [/B]Short positions below 1.2972 with targets @ 1.2918 & 1.2880 [B]Comment: [/B]Sterling during yesterday’s session fell against US Dollar. Today, the pair trades in a slightly negative bias below the pivot point level. [B]Supports and Resistances:[/B] R3 1.3102 R2 1.3064 R1 1.3010 PP 1.2972 S1 1.2918 S2 1.2880 S3 1.2826 [B][U]USD/JPY[/U][/B] [IMG]https://s10.postimg.org/zcvwspiqx/USDJPY_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 101.66 with targets @ 102.34 & 102.73 [B]Market Scenario 2: [/B]Short positions below 101.66 with targets @ 101.27 & 100.59 [B]Comment:[/B] US Dollar during yesterday’s session rallied against Japanese Yen closing the day in a positive sentiment. Today the pair continues trading in a positive tone above the pivot point level. [B]Supports and Resistances:[/B] R3 103.41 R2 102.73 R1 102.34 PP 101.66 S1 101.27 S2 100.59 S3 100.20 [B][U]GOLD[/U][/B] [IMG]https://s10.postimg.org/hajp64evt/GOLD_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 1342.33 with targets @ 1349.11 & 1359.96 [B]Market Scenario 2: [/B]Short positions below 1342.33 with targets @ 1331.48 & 1324.70 [B]Comment: [/B]Gold during yesterday’s session traded fell throughout the session but found enough support at $1,340 level to turn around. Today Bullion continues is trading in a negative sentiment below the pivot point level finding support once again at the $1,340 levels. Markets are focusing on the release of U.S economic reports later during the day for indications of the strength of the economy. [B]Supports and Resistances[/B] R3 1377.59 R2 1359.96 R1 1349.11 PP 1342.33 S1 1331.48 S2 1324.70 S3 1307.07 [B][U]CRUDE OIL[/U][/B] [IMG]https://s9.postimg.org/qbhc47wn3/Crude_Oil_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 42.79 with targets @ 44.49 & 45.55 [B]Market Scenario 2: [/B]Short positions below 42.79 with targets @ 41.73 & 40.03 [B]Comment:[/B] The WTI Crude Oil market initially pulled back during the course of the session on Wednesday, but found enough support at $41 level to bounce a bit. Today Crude is trading above the point level. [B]Supports and Resistances:[/B] R3 48.31 R2 45.55 R1 44.49 PP 42.79 S1 41.73 S2 40.03 S3 37.27 [B][U]USD/RUB[/U][/B] [IMG]https://s9.postimg.org/gpvswe9dr/USDRUB_12_08_2016.png[/IMG] [B]Market Scenario 1: [/B]Long positions above 63.47 with targets @ 64.06 & 64.75 [B]Market Scenario 2: [/B]Short positions below 63.47 with targets @ 62.79 & 62.20 [B]Comment: [/B]US Dollar during yesterday’s session traded lower against the Russian ruble closing in a negative candle for the day. Today the pair is trading below the Pivot Point level. [B]Supports and Resistances:[/B] R3 66.02 R2 64.75 R1 64.06 PP 63.47 S1 62.79 S2 62.20 S3 60.93 [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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