LeTechs Forex Blog - Forex & Gold Technical Analysis on 27 October 2016

27 Oct

Forex & Gold Technical Analysis on 27 October 2016

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Daily Technical Analysis on 27 October 2016

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

EURUSD

The euro strengthened on the rear of the positive PMI Composite and IFO reports in EU & Germany. The pair spent the day on a positive tone. The pair little bit grew in the Asian session on last day and extended its growth during the European time. The price was adept to escalate to 1.0950 levels where a bullish thorn bleached. The 50-EMA motionless the upward impetuses in the 4HR chart. The moving averages kept moving lower.

The resistance finds in 1.0950 levels, the support lies in 1.0900 levels. MACD remained in the negative zone grew which indicates the sellers’ spot weakening. The RSI is approaching the overbought region.

GBPUSD

The pound jumped higher after the positive Mortgage Approvals publish on yesterday. The pound slightly strengthened across the US dollar on yesterday. The price rallied from the mark level of 1.2154 to 1.2245. Still, buyers lost to push the value higher during the European session. The value briefly broke the level 1.2200 and recurred below the level before the US session opening. The 50-EMA clogged the growing momentum. The moving averages are directing lower in the 4HR chart.

The resistance seen at 1.2200 levels, the support comes at 1.2100 levels. MACD indicator is in the negative zone remained at the equal level which confirms the strength of sellers. RSI is within the overbought region.

USDJPY

The dollar is solid across the board among increasing bets that the Fed hike rate this December. Still, cautious sentiment around equity market promoted the yen, stabilizing the pair. The pair stays around recent lows. The value found a strong support over the 104.00 levels and spent the day above it. The upward trend stayed intact. The value remains in an ascending channel, staying nearly its lower limit. The 50-EMA stopped the downside impetus in the 1HR chart. The 50-EMA remains neutral, the 100 and 200 EMAs handled their bullish slope.

The resistance currently appears in 104.60 levels, the support remains in 104.00 levels. MACD is in the positive zone decreased which indicates the buyers’ spot weakening. RSI is within the neutral region. If the pair stands in an upward channel the price might reverse its losses and grew to 104.60 levels. A drive under the level of 104.00 will signal regarding buyer’s weakness and might give sellers a chance to drive the price lower.

XAUUSD

The yellow metal prices strengthened on last day among US dollar weakening across the board. The dollar jumped from the nine-week highs increasing demand for the gold. After a short-lived rally the metal prices stopped over the level of 1270, hovering above the level full day. Buyers seem to be powerless to drive the price higher. The XAUUSD is turning around and is regarding to decrease now. The price is struggling with the 100-EMA to drive lower. The 100-EMA remains neutral but the 200-EMA is moving much lower, the 50-EMA is twisting upwards in the 4HR chart.

The resistance comes at 1280 levels, the support lies at 1270 levels. MACD is in the positive zone decline which indicates the buyers’ spot weakening. Indicator RSI bounced from the oversold region.

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