Exness Technical Daily

[meeru]

AUDNZD approaching major resistance, prepare to sell

AUDNZD
Nov. 10, 2016, 03:21
Sell below 1.0577. Stop loss at 1.0635. Take profit at 1.0362.

Reason for the trading strategy (technically):

We prepare to sell when price makes a push up to major resistance at 1.0577 (Fibonacci projection, Fibonacci retracement, horizontal overlap resistance) where we expect a drop from to at least 1.0362 again.

RSI (34) remains below a long term descending resistance line, as long as RSI doesn’t cross above that line with strength, we remain bearish.

 

[meeru]

AUDUSD approaching major resistance, prepare to sell

AUDUSD
Nov. 10, 2016, 03:24
Sell below 0.7693. Stop loss at 0.7736. Take profit at 0.7582.

Reason for the trading strategy (technically):

Price is approaching a major resistance level at 0.7693 (Fibonacci projection, Fibonacci retracement, horizontal overlap resistance) where we expect a reaction from and a drop towards 0.7582.

RSI (34) is approaching pullback resistance too.

 

[meeru]

AUDJPY profit target reached perfectly, prepare to buy

AUDJPY
Nov. 10, 2016, 03:27
Buy above 79.56. Stop loss at 78.47. Take profit at 82.71.

Reason for the trading strategy (technically):

Price reached our profit target perfectly yesterday. We turn bullish above major support at 79.56 (Fibonacci retracement, horizontal support) for a push up to 82.71.

RSI (34) still has good upside potential to play the rise we expect.

 

[meeru]

USDJPY profit target reached, prepare to buy

USDJPY
Nov. 10, 2016, 03:33
Buy above 105.48. Stop loss at 104.70. Take profit at 106.67.

Reason for the trading strategy (technically):

Price dropped perfectly to our profit target yesterday. We turn bullish above 105.48 support (channel breakout level, horizontal breakout level) *for a push up to 106.67.

RSI (34) still has some upside potential to play.

 

[meeru]

USDCHF at major resistance, prepare to sell

USDCHF
Nov. 15, 2016, 03:31
Sell below 1.0000. Stop loss at 1.0050. Take profit at 0.9833.

Reason for the trading strategy (technically):

Price has reacted off major resistance at 1.0000 (Fibonacci projection, horizontal resistance, big figure) and we expect a drop to 0.9833 at least.

RSI (34) is also reacting off major descending resistance which goes in line with our bearish view.

Reason for the trading strategy (fundamentally):

The main news event driving USD today is the U.S. Advance Retail Sales which is a monthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. We’re expecting a negative value here meaning less consumer spending and confidence, leading to weakness in the USD. This would go in line with our bearish USDCHF view we have today.

 

[meeru]

AUDUSD bounced perfectly, remain bullish

AUDUSD
Nov. 15, 2016, 03:37
Buy above 0.7560. Stop loss at 0.7524. Take profit at 0.7621.

Reason for the trading strategy (technically):

Price has made a bounce above our buying level perfectly yesterday. We remain bullish above 0.7560 support level (Fibonacci retracement, horizontal pullback support) for a push up to at least 0.7621.

RSI (34) has made a bullish exit signalling a bullish reversal is in progress.

Reason for the trading strategy (fundamentally):

The main news event driving USD today is the U.S. Advance Retail Sales which is a monthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. We’re expecting a negative value here meaning less consumer spending and confidence, leading to weakness in the USD. This would go in line with our bullish AUDUSD view we have today.

 

[meeru]

Silver approaching major resistance, prepare to sell

XAGUSD
Nov. 15, 2016, 03:39
Sell below 17.189. Stop loss at 17.540. Take profit at 16.637.

Reason for the trading strategy (technically):

Price is approaching a major resistance level at 17.189 (Fibonacci retracement, horizontal pullback resistance) where we expect a reversal from for a further drop to 16.637.

RSI (21) is also approaching pullback resistance.

 

[meeru]

Gold approaching major resistance, prepare to sell

XAUUSD
Nov. 15, 2016, 03:44
Sell below 1242.59. Stop loss at 1261.23. Take profit at 1211.48

Reason for the trading strategy (technically):

Price is approaching a major resistance level at 1242.59 (Fibonacci retracement, horizontal pullback resistance) and we expect a reaction off this level for a further drop to 1211.48.

RSI (34) is also seeing major resistance from the 67% to 72% which would coincide with the reversal we’re expecting.

 

[meeru]

EURJPY profit target reached, prepare to sell again

EURJPY
Nov. 15, 2016, 03:46
Sell below 81.91. Stop loss at 82.65. Take profit at 80.27.

Reason for the trading strategy (technically):

Price reached our profit target from previously. We prepare to sell again below 81.91 major resistance (Fibonacci projection, horizontal resistance) for a further push down to 80.27 once again.

RSI (34) remains below major resistance at 62% which is capping any bullish movement.

 

[meeru]

AUDJPY drop in progress

AUDJPY
Nov. 18, 2016, 04:07
Sell below 81.91. Stop loss at 82.65. Take profit at 80.27.

Reason for the trading strategy (technically):

We remain bearish below major resistance at 81.91 (Fibonacci retracement, Fibonacci projection, horizontal resistance) for a further drop to 80.27 (Fibonacci retracement, horizontal overlap support, recent swing low support) as the first big level to play to.

RSI (21) is seeing major resistance from 72%.