The month long bullish run of gold came to an end yesterday as the yellow metal lost it’s glitter by USD 32 (1336.78 to 1306.36).Currently gold is resting at 1310.50 – 1305.60 level which happens to be 38.2% Fib retracement. Considering current bearish momentum and next support level at 1282.75 – 1278.10, coinciding with 61.8% Fib retracement, it is expected that Gold will remain under pressure for the current week as it tests support levels, providing high probability setup for swing…Continue
As is seen from the chart, Aud/Chf has been moving inside a declining channel. Right now, its at the upper resistance, and at TradeCuts our analyst has marked 0.8365 - 0.8380 as the Entry Zone, with stops at 0.8425 and take profit levels at 0.8320. Initially a risk:reward of 1:1, but on a move of 25 points our trailing stop loss gets activated and price comes to break even.
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After the Reserve Bank Of New Zealand raised the interest rate for the third time this year, The Euro has been touching new lows against the New Zealand dollar.
Moving with the flow, at TradeCuts, our outlook on this pair has remained bearish and this is our analysis for today. The entry has got triggered, trailing sl is in place and the take profit level is at next support @ 1.5420 which it last touched in April of 2013.…Continue