Daily range : 80 pips
Daily chart: Trading in a downward channel, ding dong up and down towards 1.5850 (EMA200) in 2 weeks time.
Intraday chart: bearish, reckon to return to equilibrium :: shall slide from current 1.6090 to 1.6045, hopefully can reach 1.6020 before posing higher.
Daily Range: 45 pips
The central bank is expected to cut its growth and price projections at the October 30 policy meeting.
Market is led by fundamental developments - weak external demand, strong yen… how would the next stimulus package help with USD/JPY? Stay close to news and I prefer to stay out.
Daily Range: 70 pips
Weekly chart: Sideways, contracting trading range, awaiting breakout.
Daily chart: current support risen up to 1.2890, resistance 1.2990. Strong support 1.2800, Strong Resistance 1.3090.
Intraday (4H) Chart: market shall continue trading in this flag pattern until Thursday / Friday.
Neutral. No trade.
Daily Range: $16
Weekly Chart: Bearish, although with a star candlestick pattern, we need a confirmation if market is going to reverse up and resume up trend.
We at Ayumi the Novice Trader reckon market to continue trending down from current price $1712 towards $1660, that is -$50.
Gold has posted a strong gain last Friday, from low $1700 to $1718 – and this bullish sentiment shall take a breather, retrace to $1709, and challenge $1720 again on Monday.
I will hunt for short instead of Long at support…
However, for aggressive trading : I would place a Long trade on Monday near $1709, close EOD or near resistance.
Main objective for the week would be hunting short near resistance $1715-20, target exit 1700.
chart explains far better than words: