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GOLD MAY FALL DOWN FURTHER

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.

XAUUSD Weekly Chart

  • The MACD on the weekly chart is in the positive zone but falling.
  • The RSI is falling.
  • The Stochastics is falling down.
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DEU.IDX/EUR | NOT MUCH ON THE CHARTS

Technical ToolsResistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.DEU.IDX/EUR Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is turning North.
From the weekly chart, it looks like there is more potential to the upside. But last weekly candle suggests that more correction is possibleDEU.IDX/EUR Daily Chart [list][/list]…
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UPDATE-6
The pair closed the week at 13076 and is very near to our target. I expect a fall in the pair next week. if that happens then this pair will be very close to our target of 12900 on 2nd January.

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UPDATE-7
The pair is currently trading at 13068.98. MACD is not is good shape and RSI is also falling. The pair is making a Doji candle on daily chart as of now. I expect the price to settle at 13000 level.

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UPDATE-8
The pair made a doji candle on the daily chart yesterday. Today the pair has broken the low of the yesterday candle as well as the previous two lows at the same level and currently trading at 12978 levels. I expect the 13000 level to act as resistance for the pair in the near future. The target of 12900 does not seem far now.

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UPDATE-9
As expected the pair gapped down today and falling since then. The pair is trading at 12927 levels at the time of writing this update. There is no immediate support nearby. Next support is at 12660 level which seems very far. But since it is Friday so I am not expecting much fall here. A 12900 price will be a decent price to finish the day I guess.

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UPDATE-10
The pair closed the week at 12859 levels. We have a target at 12900 levels. indicators suggest a downmove ahead. But since the pair has hit the support levels we can see a little consolidation on the 1st day of the new year.

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HKG.IDX/HKD | A DECENT UPTREND IS IN FORCE

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.
HKG.IDX/HKD 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. But last weekly candle suggests that there is some indecision.
HKG.IDX/HKD Daily Chart
  • The MACD on the Daily chart is in positive territory.
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UPDATE-7
The price on the 4 Hour chart is in the uptrend. next week is full of holidays so I am expecting very less moves in the pair. Seeing the uptrend I expect the pair to move upto 30000 mark by next week. I hope my prediction will be within 1% range.

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UPDATE-8
The pair is currently trading at 29660.96. The pair is following the rising trendline beautifully. The MACD is in positive territory and the RSI is also looking good. I expect the pair to be close to our target of 29741 on 2nd January at 1200 GMT.

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UPDATE-9
The pair is currently trading at 29838 levels. The pair has made an intraday high of  29884.97 till the time of writing this update. The pair is following the rising trendline. Indicators look beautiful. A consolidation is needed here for a move above 30000.

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UPDATE-10
The pair is currently trading at 29920 levels. The pair has made an intraday high of  29971 till the time of writing this update. The pair is following the rising trend line. Indicators look beautiful. We need a drop down till 29700 levels for a good accuracy for January prediction. The indicators are looking good.

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UPDATE-11
The pair closed the week at 29912 levels. All the indicators are positive except the pair is near the psychological level of 30000. I expect a pullback from here before we break the 30000 mark. And that pullback is possible on Tuesday as Monday is a bank holiday.

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LIGHT.CMD/USD | FURTHER RISE ON THE CHARTS

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.
LIGHT.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.
LIGHT.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 LIGHT.CMD/USD will correct in…
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UPDATE-1
The pair has ended the week at 57.29. The MACD and RSI are looking good. The pair will go higher in the coming days and we will be able to achieve our target at 61.50.

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UPDATE-2
The pair has ended the week at 57.29. Now it is trading at 57.28. The pair is consolidating. I expect some good buying when the price hits or get near to the rising trendline. This event may take place next week.

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UPDATE-3
The price action in this pair has been very promising so far but the pair has failed to break the falling trendline as we predicted for the break of the line. If it breaks the line next week then we may find our target of 61.50. Otherwise it may fall further to 57.00 levels.

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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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25 JAN 17 | NZDUSD TRADE SETUP

Hello fellow traders and community members,
There is a high probability for the NZDUSD to find resistance near .7300 area as this is the confluence of the two trendlines.
NZDUSD DAILY CHART

The idea is to wait for the price action on the daily chart and see a bearish engulfing or the bearish pinbar to place the trade.
Happy trading to all.
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24 JAN 17 | CADJPY SELL ENTRY

Hello fellow community members and traders,
Today I am sharing with you a real trade placed on CADJPY at my favorite place that is trendline resistance.

CADJPY 4H CHART

Sensing the upcoming resistance on the trendline I placed a short sell in the pair with the target near 85.12 levels with the stop above falling trend line resistance.
Any suggestions about the setup are welcome.
Happy trading to all.
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AUDCAD may resume its downtrend

Technical Tools
Resistance and support lines, Trend lines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
AUDCAD Weekly Chart
  • The MACD on the weekly chart is in negative zone. The histogram suggests the buyers taking control of the market.
  • The RSI is rising.
  • The Stochastics is also rising.
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8 JAN 17 USDPLN

Hello, fellow community members and traders.
Today we have USDPLN which seems to be very exciting setup. The pair was in a nice uptrend since June 2014 till now. This pair closed last week below the crucial support level of 4.1400. It seems that the pair will face huge resistance at this level now. The idea is to wait for the correction to be over and enter the main trend for a long term once it reaches the rising trendline.
USDPLN WEEKLY CHART
USDPLN DAILY CHART
Any comments or suggestions are …
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galjasen avatar
galjasen 10 Jan.

Happy trading to you, too!

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5 JAN 17 USDJPY | TRENDLINE BREAK

Hello, fellow traders and community members. After a long rally, we have today witnessed a price action in this pair that hints about US Dollar weakness ahead. A daily close below 114.80 will confirm the downtrend.
Or if one finds the price near 116 levels then it will be a good opportunity to sell the pair. Otherwise one can also wait for a daily candle close below 114.85 for confirmation.
USDJPY 4H CHART
Any comments or suggestions about the setup are welcome.
Happy Trading to all.
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