|AUD/USD Elliott wave count and Fibonacci levels for April 25, 2012|
|GOLD Intraday Technical Analysis|
The spot rate is currently testing the upper limit of its medium term bearish channel at 107.70 and seems to initiate a decline. However a break of these levels will free up significant potential and initiate a bullish trend.
Technical indicators provide buy-signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of the strong decline of these days. Stabilization is expected in the short term.
According to previous events, the market will indicate a bullish opportunity as soon as the spot rate has broken its resistance at 107.70 with the 1st objective of 108.30, then of 108.50. A break at 107.50 will invalidate this scenario.
Albert Fitoussi is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please give your vote for this analyst.
analytical expert: Albert Fitoussi
|InstaForex Group © 2007-2014|
|Recommend: Forex Analytics|
Technical analysis of EUR/USD for October 24, 2014
2014-10-24 09:03:44 UTC+00 14 hours, 45 min. ago
|Views today 705|
Daily analysis of GBP/USD for October 24, 2014
2014-10-24 04:48:18 UTC+00 19 hours ago
|Views today 684|
Daily analysis of USDX for October 24, 2014
2014-10-24 04:48:55 UTC+00 19 hours ago
|Views today 751|
Forecast on USD/CAD for October 24, 2014
2014-10-24 02:44:30 UTC+00 21 hour, 4 min. ago
|Views today 649|
Daily analysis of major pairs for October 24, 2014
2014-10-24 06:32:07 UTC+00 17 hours, 17 min. ago
|Views today 696|