LeTechs Forex Blog - Daily Forex & Gold Technical Analysis on 29 November 2016

29 Nov

Daily Forex & Gold Technical Analysis on 29 November 2016

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Daily Technical Analysis on 29 November 2016

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

EURUSD

All focus were on Mario Draghi’s speech on yesterday. Investors anticipated to hear from the controller fresh guidelines about the further economy course & the potential consequences after the Brexit vote. Bears seem to have comes back into the game. Previous week recovery lost its firmness around 1.0700 levels. The pair evacuated from its latest highs & returned under the level of 1.0650 post-European session. Sellers driven the price towards the level 1.0600 throughout the European markets.

The value cracks the 200-EMA downside & met a barrier over the 50 and 100 EMAs in the 1HR chart. The 200-EMAs pointed downside although the 100-EMAs turned neutral & the 50-EMAs turned greater. The resistance finds in 1.0650 levels, the support comes in 1.0600 levels. MACD grew which hints the seller’s spot decline. Indicator RSI directs south.

GBPUSD

The pound edged decrease on yesterday among the cross pair strength of EURGBP. The pound rebound the upper limit of its sideway channel on last day. The value sharply fell towards 1.2400 levels in post-European hours. After testing the 1.2400 levels the value slowed down tackling with the level before the US session opening.

The sterling smashed the 50-EMAs & was clogged by the 100-EMAs in the 4HR chart. All moving averages remain neutral in the 4HR chart. The resistance seems at 1.2500 levels, the support lies at 1.2400 levels. The MACD histogram reduced which hints the seller’s growing strength. RSI indicator headed towards the oversold region.

USDJPY

The dollar decline against the yen as the volatility about the future events of OPEC meeting, Non-farm Payrolls & Italy referendum made investors adjacent their deals. The value stayed in an upward channel on previous day. The pair stands around its lower limit, making fearful steps to recover thorughout the Asian session. The pair increased its gain during the European time. The pair regained to 113.00 levels before the US session.

According to the 1HR chart the price smashed the 100-EMAs upwards in the Europe session. The value surrounded & tested the 50-EMAs in the post Europe session. The 100 & 200 EMAs kept moving higher although the 50-EMAs twisted neutral in the 1HR chart. The resistance will be at 113.00 levels, the support appears at 112.00 levels. MACD grew which hints the buyer’s spot strengthen. Indicator RSI jumped higher.

XAUUSD

The risk on sentiment weighed on the yellow metal values marking them jump away from the fresh highs. Moreover market participants favoured to stay out of deals before the upcoming risks schedule later in the week. The value lost to leads beyond 1200 levels & retreated almost quickly following the test levels. Sellers handled to advance the price from 1200 levels to 1190 levels which was cracks in the mid-Europe hours. Having smashed the level the metal sustained advancing south.

After breaking the 50-EMAs the values met a barrier over the 100-EMAs in the 1HR chart. The 100-EMAs ignored the yellow metal downsides. The valuee spent the 2nd part of the day between the 100 & 50 EMAs. The resistance comes in 1190 levels, the support stands in 1180 levels. MACD traded to the downwards although the RSI remained neutral.

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