EUR/USD:  Our preference: Bullish setups within 1.0680 – 1.0815 with targets @ 1.0936 & 1.1046 in extension. Alternative scenario: Below 1.0680, watch for bearish setups with 1.0579 as target and 1.0505 in extension. Comment: EUR/USD has pulled back into the confluence zone. Note that hourly stochastic is oversold, RSI is falling from the overbought area. GOLD:  Our preference: Bullish setups on a pull-back move to within 1159.60 – 1167.10 with targets 1169.44 & 1177.73 in extension. Alternative scenario: Below 1159.60 watch for bearish setups with 1156.01 as target and 1150.88 in extension. Comment: Gold price currently is in bullish bias. Note that 20 MA has crossed above 50 MA are falling on hourly chart. Note also that hourly stochastic has crossed down, RSI is overbought. |
The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. The main participants in this market are the larger international banks. Financial centres around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.
Thursday, March 19, 2015
Daily Strategy March 19th, 2015
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