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BRENT CRUDE MAY RISE AFTER PULLBACK

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.
BRENT.CMD/USD Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is headed north.
From the weekly chart, it looks like there is more potential to the upside.
BRENT.CMD/USD Daily Chart
  • The MACD on the Daily chart is positive but about to turn back down.
  • The RSI is overbought and headed South.
From the facts above we can deduce that BRENT.CMD/USD will correct in …
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UPDATE-2
The pair has ended the week at 63.29. The pair is now trading at 64.60 while I am writing this comment. Here I expect the pair to find some resistance. Although all the indicators are aligned and pointing North.

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UPDATE-3
The pair has ended the week at 63.29. The pair is now trading at 63.27 while I am writing this comment. Here I expect the pair to find some support at the rising trendline. If it is able to stay above this line then we can hit our target easily.

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UPDATE-4
The pair is now trading at 64.21 while I am writing this comment. We are just 29 pips away from our target and 10 more days to go. Ahead is the holiday period coming. Let us see how the things unfold in 10 days. The indicators are hinting further upmove but I expect it to find resistance near 65.00 levels and retrace back to 64.50 by end of this year.

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UPDATE-5
The pair is now trading at 64.63 which is just 13 points above our target price for January. Although the daily candle as of now is a doji but the bias is bullish. I expect price to start consolidating here as it has already made a high of 64.925 today

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UPDATE-6
The pair has closed the week exactly at 65.00 levels and I expect a less volatile market next week and expect the price to correct to 64.50 levels before the year ends.

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RETRACEMENT ON THE CHART OF GOLD | 11032017

Hello my dear fellow community members,
Please refer to my blog post on 07 March 17 regarding a pullback expected at the GOLD price. The XAUUSD has broken below from a rising trendline. A pullback is expected to 1218 and a better pullback can take it to 1260. I shall look to sell at 1218 if I see weakness. If it breaks 1218 on upside then I shall look for weakness at 1260 levels to sell it. Here is the chart show…
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2 DEC 16 | USDJPY PULLBACK TO 111.50

Hello fellow traders,
Yesterday we talked about USDJPY turning down. The pair is closing the day lower than yesterday. But still not near 111.50. Look for a pullback to 111.50 for entry on the long side. Do not short the pair till there is some fundamentally strong evidence to short the pair. From here the pair may go either side on Monday so be vigilant to locate a decent price action near 113.30 levels and if it breaks then near 111.50 levels. These are the levels where we may witness a nice p…
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TInna avatar
TInna 9 Dec.

well done!

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GBPUSD AND USDJPY UPDATE 10 OCT 16

Hello friends this post is an update to the setup in USDJPY and GBPUSD that we saw in first week of October. In the last post we saw that USDJPY broke the triangle to the upside and as per the triangle height the upside target is at 107.45 levels. Last week after a nice break the pair found resistance near the crucial level spotted by us at 104.16 which is very much in the resistance zone. Today at the time of writing this post the pair is trading at 103.73 and seems like the pullback is over a …
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GBPUSD OCT 4 2016

GBPUSD has finally broken after consolidation. The next level can be seen as the target of the rectangle pattern which is the height of the rectangle. The falling trend line however will oppose any up move in the price. I am already short in the pair from 1.28440 levels with stop at 1.30000 and take profit at 1.27000
The idea is to sell near the trend line and keep a stop loss on the upper side of the trend line.
Please leave your valuable comments in connection with this trade setup.
Happy Trad…
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