FXAutomate

FXAutomate

USDZAR now testing the 100SMA on daily. If we break through we could probably expect resistance at the diagonal and Monthly R2 #pivot being tested. If we get rejected here I expect we will find support at 17.30

FXAutomate Updated 

Fantastic run on Gold, however based from a purely technical view gold has now breached all technical levels of resistance including various calculations of the Yearly R3 pivot. There are also now strong signs of bearish divergence between price and the MFI. As is this already presents an excellent Risk:Reward setup when considering a stop @ 1990. The important...

FXAutomate

Bullish channel has now been broken and a pullback to the 61.8fib level can be expected. This level also coincides with the Monthly Pivot.

FXAutomate Updated 

The USDZAR has now broken out of the bearish channel its been trading in since the beginning of the month. The bottom was confirmed by clear Bullish divergence and what now appears to be a W bottom. Should price continue to hold above the support area between the W neckline at 16.75 and the breakout level at 16.65. We could see price advancing to the target area...

FXAutomate

The EURUSD has had an excellent run up to the Yearly R2 pivot but with profit taking now in effect, it is likely that a pullback can be expected, first to the July R3 pivot @ 1.172 (also coinciding with the Fib 23.6 level) and then perhaps after a brief re-test of the breakout level @ 1.180 lower the to the Yearly R1 pivot and July R2 pivot @ 1.157. This is also...