Buy GBPUSD at current level 1.3032 for a target of 1.3160

Author:-Mr. Ankit Nagpal

Posted Date:-26-Jul-2017

GBPUSD:-On a daily chart  a Rising Wedge formation is found, the outcome of this pattern is usually bearish(downside breakout. Though the pair is trading at support level of the pattern, we suggest to go for buy till the time it is not giving a clear breakout.

Trade Idea:-Buy GBPUSD at current level 1.3032 for a target of  1.3160 with a stop loss of  1.2980.

Good Luck...!

Sell Gold(XAUUSD) at $1252 for a target of $1238 and $1217

Author:-Mr. Ankit Nagpal

Posted Date:-25-Jul-2017

Gold(XAUUSD):- Gold is trading near its resistance levels or we can say a supply zone. On a daily chart we had plotted a horizontal trend-line, which is indicating a resistance zone at level around $1260-62 mark. A short term double top is also formed at $1258 level, 1st top was formed on 23 June 2017 and the latest top was marked yesterday. We suggest to sit on sell side.

 

Trade Idea:- Sell Gold(XAUUSD) at current level $1252 for a target of $1238 and $ 1217 with a safe stop loss of $1264.

 

Good Luck...!

Buy Crude Oil at $44.90-45.00 for a target of $47.65

Author:-Mr. Ankit Nagpal

Posted Date:-24-Jul-2017

Crude Oil(NYMEX):- The Oil on a daily chart is trading in a range of Rising Wedge Pattern, as shown in the below chart. Generally the outcome of Rising Wedge Pattern in bearish(downside breakout), but till the time Oil is trading in the pattern range, we suggest to buy the oil at support region of 44.90-45.00.

 

Trade Idea:- Buy Crude Oil at $44.90-45.00 for a target of $47.65 with a stop-loss of $44.00

 

Good Luck...!

Sell EURUSD for a target of 1.1500 & 1.1450

Author:-Mr. Ankit Nagpal

Posted Date:-21-Jul-2017

EURUSD:- On a daily technical chart EURUSD seems to be highly overbought at current levels. Momentum indicator - 14-day relative strength index is at 71 mark and fast stochastic also breached the overbought region and presently at 83 mark. Pair is hovering at trend-line resistance of an upward sloping channel, immediate resistance is at 1.1680 levels and expected support seems to be at 1.1455 mark. We suggest our traders to sit on sell side.

 

Trade Idea:- Sell EURUSD at current level 1.1646 for a target of 1.1500 and 1.1450 with a Stop loss of 1.1720.

Good Luck...!

Buy XAU(Gold) at current level for the target of 1275

Author:-Mr. Ankit Nagpal

Posted Date:-21-Jun-2017

                

XAU(Gold):- Daily chart of XAU(Gold) is signalling a bounce after a fall from 1295.98 to 1241.18. The metal stopped its losses against U.S dollar and finds a support at levels around 1240 (with an extension towards 1235). One can notice the upward sloping trend-line, which acted as a strong support area in past scenarios - bottoms are connected from 1122.51, 1127.25, 1214.13 and 1241.18. Immediate support is at 1240 level and a strong key support of 200-day simple moving average is at 1237 mark. Momentum indicator Slow Stochastic is ranging in oversold territory (below 20 mark) with a bullish divergence - price action made higher lows while the indicator has equal lows. We suggest our traders to go long/buy in XAU(Gold).   

 

Trade Idea:- Buy XAU(Gold) at current level for the target of 1275 with a Strict stop-loss of 1234.

 

Good Luck...!

Sell Gold at current level for the target of $1270 with a stop-loss of $1298

Author:-Mr. Ankit Nagpal

Posted Date:-07-Jun-2017

XAUUSD(Gold):- On a daily chart of gold, a clear formation of Double Top reversal pattern is visible - Notice the 1st top, on April 17, 2017 the metal tested $1295 level and again yesterday the gold made the same attempt towards $1295 mark. Momentum indicator 14-day RSI turned back with after reaching the overbought territory, along with that RSI peaks are diverging with price action. RSI has lower highs while price action had made the peaks at same or constant level. We suggest our traders to go short/sell in XAUUSD.

 

Trade Idea:- Sell Gold at current level for the target of $1270 with a stop-loss of $1298.

 

Good Luck...!     

Sell EURUSD at current level for the target of 1.1040-50

Author:-Mr. Ankit Nagpal

Posted Date:-30-May-2017

EURUSD:- A Descending Triangle formation is found on a 4 hour chart of EURUSD. The currency pair was hovered in that bearish triangle range from 22 May 2017 with converging peaks and constant lows , but yesterday it had given a downside breakout to the range or in other word we can say Descending Triangle breakout. In the current scenario the pair has recently tested its broken range(re-testing of support converted resistance zone), so from there we are expecting further downside towards 1.1050 levels. We suggest our traders to go for short/sell in EURUSD.

 

Trade Idea:- Sell EURUSD at current level for the target of 1.1040-50 with a stop loss at 1.1210.

 

Good Luck..!