Technical Analysis 4-November-2019
Gold after breaking the 1500USD zone, as expected move to 1515 zone . This is where the resistance res_2 is strong and has not been broken for a while. If this resistance res_1 is broken. (Note that this resistance at 1515 which coincides with the small channel ceiling) We expect to move up to 1550 zone. If the price returns from this area, we will reach 1500 which is almost adjacent to the tr_3 trend line. If this line is broken, we’ll expect until support sup_1 and the channel bottom at 1450.
gold daily chart
gold h4 chart
The Euro is in the zone of 4 trend lines forming two channels. Currently the trend line tr_2, which is also above the smaller channel, is now broken and price is moving towards the roof of the larger channel which is tr_1. Along the way there is resistance 2. We are expecting a fall below this level at 1.1200 0 and expect an uptrend if the level breaks. So level 1.120000 can be a decision point for us.