Exness Technical Daily

[meeru]

NZDUSD turn bullish above key support

NZDUSD
Nov. 18, 2016, 04:04
Buy above 0.7010. Stop loss at 0.6950. Take profit at 0.7112.

Reason for the trading strategy (technically):

We turn bullish above support at 0.7010 (Fibonacci projection, bullish divergence) looking for a push up to at least the 0.7112 level (Fibonacci retracement, recent swing high resistance).

RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs price signalling a bullish reversal is approaching.

 

[meeru]

NZDUSD turn bullish above key support

NZDUSD
Nov. 18, 2016, 04:04
Buy above 0.7010. Stop loss at 0.6950. Take profit at 0.7112.

Reason for the trading strategy (technically):

We turn bullish above support at 0.7010 (Fibonacci projection, bullish divergence) looking for a push up to at least the 0.7112 level (Fibonacci retracement, recent swing high resistance).

RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs price signalling a bullish reversal is approaching.

 

[meeru]

Silver reached our profit target perfectly, prepare to sell again

XAGUSD
Nov. 18, 2016, 04:00
Sell below 16.83. Stop loss at 17.23. Take profit at 16.28.

Reason for the trading strategy (technically):

Price dropped perfectly to our profit target from yesterday. We prepare to sell again at 16.83 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 16.28.

RSI (34) still remains below our long term descending line signalling a bearish move is still in progress.

 

[meeru]

AUDUSD right at our selling area once again, remain bearish

AUDUSD
Nov. 25, 2016, 04:56
Sell below 0.7419. Stop loss at 0.7516. Take profit at 0.7311.

Reason for the trading strategy (technically):

Price is right at our selling area again. We remain bearish below 0.7419 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 0.7311.

RSI (34) has made a pullback to previous support and has reacted well off it.

Reason for the trading strategy (fundamentally):

The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a bigger deficit from -$56.08b to -$59.20b which means a weaker USD. This goes against our bearish AUDUSD view we have today so it is best to exercise caution on this trade.

 

[meeru]

Gold remaining bullish above major support

XAUUSD
Nov. 25, 2016, 04:58
Buy above 1170.48. Stop loss at 1155.51. Take profit at 1203.14.

Reason for the trading strategy (technically):

Price has made a push down to our perfect buying area. We remain bullish above our major support at 1170.48 (Fibonacci projection, Fibonacci retracement) and we expect a push up from here towards at least previous major resistance at 1203.14 (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing bullish divergence vs price signalling a bullish reversal is impending.

Reason for the trading strategy (fundamentally):

The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a bigger deficit from -$56.08b to -$59.20b which means a weaker USD. This goes in line with our bullish XAUUSD view today.

 

[meeru]

Silver right at buying area, remain bullish

XAGUSD
Nov. 25, 2016, 04:59
Buy above 16.08. Stop loss at 15.66. Take profit at 16.72.

Reason for the trading strategy (technically):

We remain bullish above major support at 16.08 (multiple Fibonacci projections, Fibonacci retracement) and we expect a bounce above this level to at least 16.72 (recent swing high resistance, Fibonacci retracement).

RSI (34) is on pullback support and displays strong bullish divergence vs price signalling a bullish reversal is impending.

Reason for the trading strategy (fundamentally):

The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a bigger deficit from -$56.08b to -$59.20b which means a weaker USD. This goes in line with our bullish XAGUSD view today.

 

[meeru]

NZDUSD back to perfect buying level, time to buy

NZDUSD
Nov. 25, 2016, 08:20
Buy above 0.6990. Stop loss at 0.6949. Take profit at 0.7090.

Reason for the trading strategy (technically):

Price is back to *our buying level which is major support at 0.6990 (Fibonacci projection, Fibonacci retracement, recent swing low support) where we expect a bounce to at least 0.7090 (recent swing high resistance, Fibonacci retracement).

RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs price signalling a bullish reversal is approaching.

Reason for the trading strategy (fundamentally):

The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a bigger deficit from -$56.08b to -$59.20b which means a weaker USD. This goes in line with our bullish NZDUSD view today.

 

[meeru]

EURUSD bounced perfectly from our buying level, remain bullish

EURUSD
Nov. 28, 2016, 04:45
Buy above 1.0580. Stop loss at 1.0518. take profit at 1.0663.

Reason for the trading strategy (technically):

Price bounced perfectly from our buying level last Friday. We remain bullish above 1.0580 support (Fibonacci retracement, horizontal pullback support) for a further push up towards 1.0663 resistance (Fibonacci retracement, horizontal pullback resistance, bullish divergence potential).

RSI (34) is seeing bullish divergence vs price signalling a bullish reversal is in progress.

 

[meeru]

Silver almost at profit target, prepare to turn bearish

XAGUSD
Nov. 28, 2016, 04:37
Sell below 16.56. Stop loss at 16.88. Take profit at 16.09.

Reason for the trading strategy (technically):

Price bounced perfectly above our buying level on Friday and is almost at profit target. We prepare to turn bearish below 16.56 major resistance (channel resistance, horizontal pullback resistance, Fibonacci retracement) for a push down to at least 16.09.

RSI (34) is seeing major resistance at 53% where the previous major reversal occurred.

Stochastic (21,5,3) is also seeing major resistance at the 87% level.

 

[meeru]

AUDNZD reacted perfectly from our resistance, remain bearish

AUDNZD
Nov. 28, 2016, 04:43
Sell below 1.0596. Stop loss at 1.0661. Take profit at 1.0477.

Reason for the trading strategy (technically):

Price reacted perfectly from our major resistance at 1.0596 (Fibonacci retracement, horizontal resistance) where we expect a continued drop towards at least 1.0477 (Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) has reacted perfectly off major resistance from our 94% level and still has good downside potential.

RSI (34) is also seeing major resistance from the 64% level where our previous major reversal occurred and still has good downside potential.