Technical Analysis 24-April-2019
This valuable metal is in bearish way . If we have a review on chart we can see two channel .Firstly a blue channel show a movement from upper line of green channel to lower line of that .Second green channel which is general movement on chart .According these channels and Fibonacci level we forecast price touch 1254 and 1245.
EURUSD is going bearish way in blue channel.Currently price break out lower side of triangle pattern and move toward lower line of blue channel .With this condition we predict a movement until 1.1157 and 1.1048 levels .Other wise if price change direction upper line of triangle and upper line of channels are targets .
Price break out support area and is near trend drawn line .If we find return sign we can input on long position . Other wise we expect a movement until lower line of drawn channel .
Price is going in drawn channel.Currently it touch resistance area and can not pass from that .If price break out this level we expect a sharp movement toward higher line of triangle pattern on weekly time frame . Other wise if lower line of channel break out we input on short position .
Price break out higher line of triangle pattern and resistance area . Currently it goes to red trend line .In this way we can see a resistance area . If this area break out we expect a sharp movement .
This currency have a bearish movement today which was for fundamental news release for Australia .Price is going to lower line of new channel and is near that we wait for sign in this area .
Today we have weak fundamental news for Australia dollar . With this reason price break out channel and moves toward support area . We will wait on that place for sign and decide according That .