24 May

Forex & Commodity Daily Technical Analysis on 24th May 2016

admin Forex Technical outlook 3 Comments
Daily Technical Analysis on 24th May 2016



Manufacturing PMI in Germany will rise to a five-month peak in May of 52.4 vs. earlier 51.8 but the anticipations 52.0. Services PMI in Germany will rise to a three-month peak of 55.2 vs. predictions 54.6.
The 1st support stands at 1.1200 levels & following that 1.113 levels. The 1st resistance stays at the level of 1.125; the other one is at 1.1300 levels.
It’s a definite & a well built sell signal. We pretend the pair will go to 1.1200 levels. Having beaten the 1st targets, the value may go downhill to 1.113 levels.
On Yesterday, Britain did not release significant fundamental reports. According to Bonds market place the pound grew heavily, government bonds turnout differential widen to the peak level in the last & a half month
The value finds the 1st support at 1.448 levels; the other one is at 1.4400 levels. The value finds the 1st resistance at 1.456 levels; after those 1.467 levels.
It’s a non- settled & buy signal. Following the support level of 1.4400 finding down the technique to the support level of 1.432 will be unlocked.

Japan released Trade Balance for April was 823.5 B vs. anticipations 492.8B. Japan has been display a positive trade balance for the 3rd month in a succession. The Ten-year government bonds widened clog to the mark of 200 BP, which added on the fascination of the US assets.
The 1st support level is at 109, then after 108.2 levels. The 1st resistance level is at 109.8, subsequently 110.6 levels.
It’s a confirmed & a burly buy signal. Buyers need to smash on top of 109.8 levels for a reliable growth. The method to the mark of 110.6 levels will be unlocked after this development.

Gold markets place primarily tried to convention on last day, but suddenly twist bounce back all around to begin falling down yet again. Nevertheless it’s a fairly bearish movement, we see some of in the way to support under that is going to be very clumsy to begin selling, & quite openly would prefer to start buying on indication of support or at least a rebound somewhere underneath. It is not as far as we smash down fewer than 1200 levels that we are suitable for selling. It doesn’t things what happens in the meantime still, for the reason we notice is apparently the only thing that you can bet on.

Previous Next
Share This Post

Why we choose Forex Market?
Oct 06 , 2015

Forex, Commodity and Binary Trading Signals on 5th May 2016
May 04 , 2016

Forex Trading Terminologies
Oct 21 , 2015


Free Forex Trading Seminar In Salem
Aug 19 , 2018

Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017

Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017

watercolor paints

Read ICM Capital Review

  LeTechs Rating  
  Regulation   FCA
  Branches   UAE, China, Russia, Mauritius
  Bonus   $1000


watercolor paints

Read Fidelis Capital Markets Review

  LeTechs Rating  
  Regulation   FSA, St. Vincent and the Grenadines
  Branches   Except USA, Belgium and British Columbia
  Bonus   200% Bonus




Google Plus

Risk warning: Trading foreign exchange (Forex Trading) and contracts for differences (CFDs) on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please ensure you fully understand the risk involved before trading, and if necessary seek independent advice.

Copyright © 2015 LeTechs. All Rights Reserved.