DislikedGood morning everyone, I hope you are all well.
Crude has recovered some of its losses from yesterday and looks rather bid. If it breaks the resistance line from the previous two highs at $70.50 we may see a play up to $71.50 as a first target. Alternatively if it breaks the daily pivot at $69 and does a 123 move we may see a play south re-testing the lows at $66
Gold has moved aggressively over the past twenty four hours and is finding a bit of support of the support line from the lows at $786. If it holds this support we may see a play up to $813. If it breaks the support line we may see a move down to $785.
EURUSD is in a triangle on the 15 minute chart. We are in a down trend so a break of 1.3420 and a small 1234 move may see a play down to 1.3325. The upside potential is limited due to the fact that the four hourly 20 ma is just above.
GBPUSD has some immediate resistance at 1.7350; we are looking for a break of this before taking a long position. Alternatively, a break of the daily pivot at 1.7280 may see a play down to the weekly pivot at 1.7200.
Have a great day.
Regards,
HemalIgnored
Following my post this morning, I took a short on crude banking around 50 pips and took the short on gold banking around 240 pips... would be interested to know if anyone else took any of these trades¿
Best Regards
Hemal