NZD/USD AND GOLD WITH BULLISH ANALYSIS

TraderNovo

Trader
Jan 25, 2016
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TraderNovo analysis team:

The NZDUSD pair managed to return to trade above the bullish channel’s support that appears on chart, which reinforces the expectations of continuing the bullish trend on the short term basis, as the price approaches from our main waited target at 0.6860.

Therefore, the positive scenario will remain valid and active for the upcoming sessions, and breaching 0.6860 level will extend the pair’s gains to reach 0.7000, while holding above 0.6650 represents the first condition to continue the expected bullish trend.

Expected trading range for today is between 0.6700 support and 0.6900 resistance.

Expected trend for today: Bullish

Gold price shows sideways trading near 1263.23 level, where the price affected by the negative momentum that came from stochastic, noticing that the indicator gets rid of this negativity approaching from the oversold levels, to get positive motive that we wait to assist to push the price to resume the bullish trend.

In general, the positive effect of the previously breached symmetrical triangle pattern remains valid until now, and the price gets positive support from the EMA50, which encourages us to keep preferring the bullish trend in the upcoming period, waiting for targeting 1300.00 level as a next main station, being aware that holding above 1226.00 and 1212.34 levels represents an important condition for achieving the waited targets.

Expected trading range for today is between 1240.00 support and 1300.00 resistance.

Expected trend for today: Bullish

Silver price
touched 15.70 level that represents the first target for the positive scenario that activated after breaching 15.35 level, the price shows bearish bias, and it might retest the breached level before resuming the bullish trend.

In general, we will keep our bullish trend expectations in the upcoming period supported by the EMA50 that carries the price from below and breaching 15.70 level will extend silver gains to reach 16.35, being aware that the continuation of the bullish trend depends on the stability above 15.30 and the most important above 14.67.

Expected trading range for today is between 15.00 support and 16.00 resistance.

Expected trend for today: Bullish