Welcome back to our weekly analysis, we hope you are all enjoying the Easter Bank Holidays.
This week will will take a look at the top currency pairs and Gold.
Level- Resistance: 112.200 & Support: 111.700
Comments- Dollar Yen has been in a bullish trend since the huge bullish reversal pin bar on 3rd Jan 2019. Once price breaks out of current resistance level 112.200 we will expect the bullish momentum to continue towards 114.000.
Level- Resistance: 1.29500 & Support: 1.34000
Comments- Price has been in a bearish downtrend since 13th March 2019, now Pound Dollar is slowing down as we approach resistance at 1.29500. We wait for price to breakout of resistance and retest before considering a short entry.
Level- Recent Resistance at 1280.00 is now acting as Support.
Comments- Price has been in a bearish downtrend since a bearish pin bar was formed on the daily chart on 20th February 2019. Price has attempted to breach the bearish trend line twice but has been denied which shows strength in the down trend. Price has recently broken through resistance level 1280.00 and we will wait for a retest before continuing with the down trend towards 1250.00
Level- Support at 0.85000 and Resistance at 0.87300
Comments- Euro Pound is trading above the moving average but has some resistance ahead at 0.87300. We will be expecting some indecision around this area before retesting the moving average again and continuing in the upside