Todays TA Setups
GBPUSD, NZDJPY, USDCHF, and XAUUSD are all looking good for intraday plays!
Price is at channel support, and is approaching a significant structure zone that had held as resistance on the weekly chart since July 2018. We're looking for price to stabilise around this support zone prior to a rebound to the upside.
Price is holding below the moving averages, which are in a bearish cross. We anticipate the downside momentum to press into the 1.3300 level, just below current price.
NZDJPY is finding support at the 50 day moving average, the previous structure, and at trendline support. NZDJPY also has a bullish seasonal tendency in November and December, and we are looking for price to bounce and continue to the upside.
Price is still holding in a bearish structure on the 1H chart. Price is bullish if it is able to break above the moving average ribbon (currently in a bearish cross) and the previous resistance. If this bearish structure breaks we will have a confirmed bullish bias.
USD/CHF has broken the wedge pattern to the upside, and we're now looking for price to continue into the previous resistance zone at the 0.9400 price.
Price is holding the upside momentum and the support trendline, and we're looking for price to press into the 61.8% fibonacci extension.
Gold is now in a bullish structure on the daily chart. Price has made an aggresive pullback into the 78.6% fibonacci retracement level, and we're looking for price to make a bounce from this zone. Price is also above the support trendline.
Price has made a bounce from the 78.6% level on the 1h chart, however remains below the resistance trendline. The RSI is showing bullish divergence, and the ADX has taken a downturn, indicating that the bearish move is running out of steam.