Daily Technical Ananlysis and Trading Recomendations as on 17-4-2014


Sterling has broken the high of 16th February, 2014 and near to test 1.6880, the high of 15th November 2009. Strong bullish sentiments are founded near the 1.6795. GBP become strong 23% against US dollar.
Technically this pair is in a bullish trend but a little dip is expected due to the divergence in h4 graph. So buy this pair on a little dip. The SMA100 and 200 are indicating a strong bullish trend in h1 as well as in h4 graph. Ichimoku cloud is also indicating a bullish trend........1

1st entry; sell below 1.6840, tp 1.6805, sl 1.6855

2nd entry buy near 1.6790 ,tp 1.6850/75, sl 1.6760


Gold prices are locked between a critical range 1292-1310 since yesterday. On Tuesday this metal showed an outstanding move, placed a high 1327.24/ounce and low 1285.87/ounce, on US retail data. Today in early Asian session this metal placed a high 1303.92 and low 1299.46.
Technically Gold is range bound for day trading and waiting for the breakage of triangle in h1 graph. 1300 is a physical level and gold is too confused yesterday, 3 times breaks this level in up word as well as in down word direction........ see more text at www.mtgforex.com

sell below 1303, Target 1290/88, sl 1308


buy above 1.3810, Targets 1.3875, sl 1.1790.

dollar index is also under a great selling pressure, Ichimoku cloud signal is bearish in h1 graph.

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Comment by Kari Bali on April 17, 2014 at 7:36pm
Good forecast ... Thanks Usman


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