Resistance - R1 : 1173 | R2 : 1167 | R3 : 1162
Support - S1 : 1152 | S2 : 1146 | S3 : 1142
Trend - Bearish
Recommended position - Short
According to the charts of forex technical analysis for GOLD vs USD on 1H chart price moves within a channel and the same time on median line of an Andrews Pitcfork.
Also is below EMA(50) and EMA(200) which have a downward cross between them. On 4H chart is very clear that price is moving within a triangular formation and below EMA(50) and EMA(200).
Is very important, and we notice that all the positions in GOLD must open for long term, at least in daily chart. We will procced to estimate trading targets for 1H and 4H chart in order to locate the most profitable entry point as forex signal which will give us the opportunity to open a new order.
Applying the rules of forex technical analysis all the critical levels and forex trading targets about Daily, 4H and 1H chart for Monday, March 16, is as follow:
The area 1183.00 - 1172.80 is a neutral zone.
Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be : 1200, 1217, 1228.
Bearish scenario : If price move downwards and close below the neutral zone, then the downward trading targets will be: 1137, 1122, 1100, 1060, 1000.
The area 1158 - 1154 is a neutral zone.
Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be : 1169, 1175, 1189.
Bearish scenario : If price move downwards and close below the neutral zone, then the downward trading targets will be: 1136, 1120, 1110, 1100,1060.
The area 1156 - 1154 is a neutral zone.
Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be : 1162, 1166, 1170, 1174.
Bearish scenario : If price move downwards and close below the neutral zone, then the downward trading targets will be: 1150, 1148, 1136, 1120, 1110.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy . We note the need to use levels of stop loss.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
Support - S1 : 1152 | S2 : 1146 | S3 : 1142
Trend - Bearish
Recommended position - Short
According to the charts of forex technical analysis for GOLD vs USD on 1H chart price moves within a channel and the same time on median line of an Andrews Pitcfork.
Also is below EMA(50) and EMA(200) which have a downward cross between them. On 4H chart is very clear that price is moving within a triangular formation and below EMA(50) and EMA(200).
Is very important, and we notice that all the positions in GOLD must open for long term, at least in daily chart. We will procced to estimate trading targets for 1H and 4H chart in order to locate the most profitable entry point as forex signal which will give us the opportunity to open a new order.
Applying the rules of forex technical analysis all the critical levels and forex trading targets about Daily, 4H and 1H chart for Monday, March 16, is as follow:
Daily Chart
Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be : 1200, 1217, 1228.
Bearish scenario : If price move downwards and close below the neutral zone, then the downward trading targets will be: 1137, 1122, 1100, 1060, 1000.
4H Chart
Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be : 1169, 1175, 1189.
Bearish scenario : If price move downwards and close below the neutral zone, then the downward trading targets will be: 1136, 1120, 1110, 1100,1060.
1H Chart
Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be : 1162, 1166, 1170, 1174.
Bearish scenario : If price move downwards and close below the neutral zone, then the downward trading targets will be: 1150, 1148, 1136, 1120, 1110.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy . We note the need to use levels of stop loss.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
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