The S&P500 index is trading in an upward wedge pattern on a 4 hour time frame. The wedge has become more narrow towards the end which means that price is highly likely to break out of this pattern. The price is also trading above its 50 day shown in red colour and 100 day shown…
اقرأ المزيدThe GBP/USD pair is trading in a symmetrical triangle pattern on a 4 hour time frame. In terms of ranking these patterns are not very well respected due to the failure rate of their completing the pattern’s projections and their reliability in breaking in a specific direction. However, they usually break in the direction of…
اقرأ المزيدThe USD/JPY pair has broken its downward trend line on a 4 hour time frame. The pair is testing this trend line after breaking it towards the upside. Most of the trading action was pretty much side way action and now we have broken out of this towards the upside and the projection could push…
اقرأ المزيدThe EUR/USD is trading below its downward trend line on a 60 minute time frame. The price has not only completed its descending triangle pattern but it has gone beyond that level. The projection of the descending triangle pattern is shown by the line which is in pink colour. The volatility which was extremely high…
اقرأ المزيدFundamental Analysis The bottom line is that OPEC is not going to hold any meeting before their own deadline unless we see a massive supply war between the Gulf producers. OPEC is out for blood and under no cost they are going to retreat. The biggest worry now is not the non OPEC members but…
اقرأ المزيدThe precious metal is moving higher as expectations are that the Fed will not move the interest rate higher this year. The Chinese growth number had very mixed message and you cannot say if there is any bottom or the growth will continue to slide. So, what is more important for gold is two folds.…
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