GBP/USD 07.15.2019 – Strong support on the test at 1.2525

Trading 15 juil 2019 Donner votre avis

The Gold didn't have enough power to break the resistance at $1.419 and I saw the good rejection there, which is sign for me that buyers got very exhausted there. Since there is rejection of the resistance in the background, I would watch for selling opportunities. Gold also did back into the 24 balance range, which is another confirmation that upside break was unsustainable.

analytics5d2c8935e63db.jpg

On the 4H time-frame I found that there is bear cross on the Stochastic and MACD, which represents short-term downtrend. Downward targets are set at the price of $1.400 and at $1.386. As long as the Gold is trading below the key resistance swing $1.426, I would watch for selling opportunities on the rallies. Usually, when we have Asia and Europe session directional movement like today, US session will try to reverse. Today is great example of 2 sessions down and US session is starting to reverse on the upside.

The material has been provided by InstaForex Company - www.instaforex.com

Fatal error: Uncaught Exception: 12: REST API is deprecated for versions v2.1 and higher (12) thrown in /var/www/forex-winner.com/htdocs/wp-content/plugins/seo-facebook-comments/facebook/base_facebook.php on line 1039