Daily reviews

Gold is back to test the 1953.80 resistance in an attempt to correct the strong downside movement that occurred two days ago. Therefore, the price's success in breaking the resistance level will motivate buyers to increase purchase contracts, and thus try to push prices to rise further towards the level …

The pair sterling against the dollar is stabilizing around the resistance 1.3060 after the bullish rebound movement from the 1.3000 support level that occurred during the past two days. Therefore, there is a chance to rise, provided that the 1.3060 level is breached.
With attention to the continuation of the …

#MCD

Bulls tested the mirror level 257.80. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.

Stop-loss: 257.80.

Target …

The general trend is ascendant. Bears tested the support level 10.2180. Awesome Oscillator indicates bullish divergence. The descendant wave structure is truncated.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss: 10.2180.

Target levels: 10.4000; …

News of the day, Wednesday, April 20

The price of Brent crude may soar up to $185 if the EU bans Russian oil — JPMorgan analysts say. However, the ban on Russian energy sources is unlikely to be one-time. The Brent crude contracts lost more than 5% yesterday.

Tesla Inc. …

The gold price was able to close yesterday’s trading below the level of 1953.80, thus increasing the negative pressure on it and starting a bearish path towards the target 1926.70.
 
Therefore, the bearish movement will be likely for today, supported by the moving averages, especially the moving average 50, …

The pound sterling against the dollar formed an upward rebound movement and approached the 1.3050 resistance after trading settled above the 1.3000 support level during the past two days.

The continuation of the movement below the level of 1.3060 maintains the opportunity for the continuation of the descending path towards …

The historical level 19.72 restrained sellers forming a multi-candle “triple bottom” figure. The descendant structures are truncated. The inclined channel of the descendant structure is breached. Awesome Oscillator indicates bullish divergence.

Watch USD/MXN online

Trading idea:

Buy when the 20.080 level is breached.

Stop-loss: 19.720.

Target levels: 20.420; 20.800.

News of the day, Tuesday, April 19

Gold rises as investors strive for a safe-haven asset amid intensifying military assault in Ukraine and soaring U.S. inflation and recession risks. Gold has reached 6-week highs trading slightly below $2000. At the same time, the Dollar Index broke above 100 for the …

Gold started correcting the bullish path after reaching the target 1996.00 and is currently retreating to the support 1975.00 at the lower end of the ascending channel within which it is moving.

The price is moving around the 20 average, which constitutes its first support levels. The 50 average is …