LeTechs Forex Blog - Forex & Gold Technical Analysis on 29 September 2016

29 Sep

Forex & Gold Technical Analysis on 29 September 2016

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Daily Technical Analysis on 29th September 2016

Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, XAUUSD.

EURUSD

The euro converse its few losses due to concerns above the Euro-zone economy state. The pair enjoyed a blended session trade on yesterday. The price went rear & front around 1.1200 levels. The euro was below the pressure in first session of the day, but was adept to recover at the beginning of the US session. The value made an attempt to crack the 50, 100 and 200 EMAs in the 4HR chart. The smash was short-lived and the value comes back over them.

The moving average remains neutral in position. The resistance finds in 1.1250, the support comes in 1.1200 levels. MACD indicator is at the centerline which enters the negative area that will hint seller’s power. If MACD comes back into the positive zone the buyers will take the market control. Indicator RSI remains neutral.

GBPUSD

The BOE deputy Shafik’s dovish statement was weighed on the pound. According to the deputy more stimuli might be needed in the short time. Besides, the controller is ready to widen its asset purchase program if required. The trend is naturally bearish. Sellers have the key and do not want to leave their spots. The pair looks less volatile trades on yesterday. The value stays around 1.3000 levels waiting for the fresh traders. An attempt to gain was clogged by the bearish in 50-EMAs. The value was struggling with the 50-EMA to gain additionally. The 50, 100 and 200 EMAs are handled their decreases.

The resistance currently seems at 1.3000 levels, the support stays at 1.2900 levels. MACD indicator is in the negative region will grow which hints the seller’s spot weakening. Indicator RSI is moving towards the overbought region. The GBPUSD overall scenario looks bearish, for a decrease towards 1.2950 levels of support area and also a regain towards 1.3100 levels also possible.

USDJPY

The dollar risen on last day due to profit fixation and was promoted by the positive sentiment following the election debates. The USDJPY had a neutral day on yesterday. The dollar made try to regain which was blocked at 100.80 levels. The value spent the whole day only a few pips over the current support levels of 100.40. The 50-EMA clogged in the alteration growth. The value reached the line and little bit rolled back.

The 50, 100 and 200 EMAs gave a solid bearish slope. All moving averages kept moving much lower. The resistance stays in 101.40, the support stands in 100.40 levels. Indicator MACD is in the negative zone which hints the seller’s spot weakening. RSI indicator is within the neutral zone.

XAUUSD

The yellow metal futures got below in pressure following the 1st presidential debates in US as demand for the safe-capitals diminished. The pair had some negative spot on last day. The value remained under pressure and widen it’s reduce. Sellers were adept to force the price lower from 1326 to 1322 levels. The downside movement stalled over the support levels of 1320.

The 50, 100 and 200 EMAs are turning downwards in the 4HR chart. The resistance remains at 1330 levels, the support comes at 1320 levels. MACD indicator decreased which confirms the seller’s strength. Indicator RSI surrounded the oversold region.

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