Dollar index was overbought since last couple of days. yesterday candle closed with no results, and make a spinning top. Today candle is still bullish and h1 candle is indicating bullish sentiments duo to Ichimoku support.
Gold prices moving between small gain and losses in early Asian Session placed high 1290.97. Yesterday, gold placed high 1296.32 but strongly consolidating by the SMA200 in d1 graph. The yellow metal is strongly supported by Bollinger bands. The yellow metal is trying to cross the SMA100 in d1 graph but unable. Today, it seems that gold will cross this resistance because in h1 graph, candle has crossed SMA100 and consolidating below SMA200.
buy above 1286 TP 1298, SL 1280 sell stop 1279
sell limit 1298 TP 1285 Sl 1304 Buy stop 1305
Strong bullish sentiments are found above the price level 1.6565, the low of 4th April and Feb 2014. Fibonacci Retracement is indicating 1.6696 level. Great British pound was under a great selling pressure since 7 weeks but now its a time to profit taking and long this pair. The current rate is above than the daily Pivot level.
Buy above 1.6580 TP 1.6610/35 Sl 1.6545 sell stop 1.6540.
This pair is under a great selling pressure and it seems that it will test 1.2755, the low 7th july, 2013 soon. In weekly graph Ichimoku cloud signal is strongly bearish. This trade is not for one day. Hold this trade for one month at least.
sell near 1.3195 SL 1.3245 TP 1.2850