LeTechs Forex Blog - Daily Forex & Gold Technical On 12 October 2016

12 Oct

Daily Forex & Gold Technical On 12 October 2016

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Daily Technical Analysis on 12th October 2016

Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY & XUUSD.

EURUSD

The pair traded lower on yesterday on the rear of the solid dollar. The refreshed hopes for the Fed rate-hike promoted the US currency. The euro excluded the positive Economic Sentiment report in Germany. The pair unlocked on a weaker note on last day. The euro sustained to lose its price. The pair faced a selling pressure & softened towards 1.1100. Following reached the level of the value broke it and constant it’s reduced.

The moving averages are moving down in the 4HR chart. The 50 and 100 EMAs intersect the 200-EMA downside. The resistance remains in 1.1100 levels, the support comes in 1.1070 levels. Indicator MACD remained in the negative zone histogram declined which indicates the sellers’ strength. Indicator RSI is going down which confirms the downward movement now. Currently, the pair handled its bearish trend.

GBPUSD

The pound stays under pressure on previous day due to hard-Brexit concerns. The pound conserved a negative sentiment on yesterday. The pair has declined the 2nd day in a row. The value jumped towards 1.2200 levels through the 1.2300 levels. The sterling has wiped out regarding 0.66 percent throughout the trades.

The 50, 100 and 200 EMAs widen reduce. The resistance currently seems at 1.2400 levels, the support finds in 1.2300 levels. Indicator MACD stands at the equal level which confirms the seller’s power. The RSI oscillator is consolidating in the negative territory.

USDJPY

The dollar strengthened against the board due to the possibilities of an eventual Fed rate-hike this December. The USDJPY stays in the positive area on yesterday. The prices hold onto fresh gains, struggling with the resistance level of 104.00.

The pair sustains developing well over the 50, 100 and 200 EMAs of moving averages in the 4HR chart. The moving averages directs upwards. The resistance lies in 104.30 levels, the support appears in 103.50 levels. MACD indicator is in the positive zone histogram decreased which hints the buyer’s spot weakening. The RSI oscillator headed downwards from the overbought area. There is some potential for a roll rear towards 103.00 levels due to the absence of solid drivers. The value will cut down if 104.00 holds the level.

XAUUSD

The renewed risk aversion sentiment promoted the dollar and weighed on the precious metal prices. The bearish outlook prevailed on yesterday. The yellow metal values got below selling pressure following a short-lived recovery in the Asian session. The metal jumped from the daily high at 1265 towards the level of 1250.

The moving averages kept driving lower in the 4HR chart. The resistance seems at 1260 levels, the support lies in 1250 levels. MACD indicator remained in the negative zone grew which hints the sellers’ weakening. Indicator RSI was holding close to the oversold region. The pair looks bearish now. We consider a breakout of 1250 levels and cut down lower towards 1240 levels.

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