Gold Analysis – USD/CAD rose to 1.2502 during the U.S. session despite the decline in the U.S. dollar across the market spectrum.Provided that the currency pair is traded above 1.2380, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2515
- Take Profit 1: 1.2750
- Take Profit 2: 1.2880
Alternative scenario:In case of breakdown of the level 1.2380, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2380
- Take Profit 1: 1.2250
- Take Profit 2: 1.2130
Trading Analysis of NZD/USD -On Monday, the NZD/USD pair attracted some buyers around 0.6950 amid renewed selling of the US dollar.While the price is below 0.7095, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6972
- Take Profit 1: 0.6880
- Take Profit 2: 0.6800
Alternative scenario:If the level 0.7095 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7095
- Take Profit 1: 0.7210
- Take Profit 2: 0.7315
Source: PAXFOREX Broker
Gold Analysis Gold Intraday: intraday support around 1805.00.
Pivot:1805.00
Our preference:Long positions above 1805.00 with targets at 1820.00 & 1826.00 in extension.
Alternative scenario:Below 1805.00 look for further downside with 1800.00 & 1792.00 as targets.
Comment:The RSI is mixed to bullish.
Silver spot Intraday: key resistance at 25.53.
Pivot:25.53
Our preference:Short positions below 25.53 with targets at 25.25 & 25.12 in extension.
Alternative scenario:Above 25.53 look for further upside with 25.63 & 25.80 as targets.
Comment:As long as 25.53 is resistance, look for choppy price action with a bearish bias.
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