Strategy of the day on EUR/JPY
The spot rate approaches the intermediate support of its medium term bullish channel at 130.20 suggesting a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 129.60. Technical indicators provide sell signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. The spot rate approaches the intermediate support of its channel - then we suggest 2 scenarios: The first one is the hypothesis of a rebound - then we recommend a buy on the level of 130.20 with the 1st objective at 130.80 and then at 131.00. A break through 130.00 will invalidate this scenario. The second scenario is a break of its support - then we recommend a “sell stop” that means to sell the spot rate as soon as it has broken through its support of 130.20 with the 1st objective at 129.60 and then at 129.40. A break through 130.40 will invalidate this scenario.
Strategy of the day on GOLD
Gold approaches the upper limit of its medium term bullish channel at 1,432 suggesting a decline. However, a break of these levels will initiate a more violent bullish channel. Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Gold is currently testing the upper limit of its channel, so we recommend 2 scenarios: The first one is the hypothesis of a decline - then we recommend a sell on the level of 1,432 with the 1st objective at 1,422 and then at 1,420 A break through 1,435 will invalidate this scenario. The second scenario is a break of its resistance - then we recommend a “buy stop” that’s means to buy the gold as soon as it has broken through its resistance of 1,432 with the 1st objective at 1,442 and then at 1,445. A break through 1,429 will invalidate this scenario.
Strategy of the day on GBP/USD
The spot rate approaches the lower limit of its medium term bearish channel at 1.5210 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel. Technical indicators provide buy signals and until the support is not broken the assumption of a rebound is most likely. Bollinger bands have stabilized showing a more regular volatility. The spot rate is currently testing the lower limit of its channel, so we suggest 2 scenarios: The first one is the hypothesis of a rebound - then we recommend a buy on the level of 1.5210 with the 1st objective at 1.5270 and then at 1.5290. A break through 1.5190 will invalidate this scenario. The second scenario is a break of its support - then we recommend a “sell stop” that means to sell the spot rate as soon as it has broken through its support of 1.5210 with the 1st objective at 1.5150 and then at 1.5130. A break through 1.5230 will invalidate this scenario.
Strategy of the day on EUR/USD
The spot rate approaches the lower limit of its medium term bulish channel at 1.3060 suggesting a rebound. However, a break of these levels will free a large potential and initiate a violent bearish channel. Technical indicators do not provide clear signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands have stabilized showing a more regular volatility. The spot rate is currently testing the lower limit of its channel, then we recommend 2 scenarios: The first one is the hypothesis of a rebound - then we recommend a buy on the level of 1.3060 with the 1st objective at 1.3120 and then at 1.3140. A break through 1.3040 will invalidate this scenario. The second scenario is a break of its support - then we recommend a “sell stop” that means to sell the spot rate as soon as it has broken through its support of 1.3060 with the 1st objective at 1.3000 and then at 1.2980. A break through 1.3080 will invalidate this scenario.
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