OctaFX Analytics

2021-07-21 10:01:05 #XAUUSD #intraday_trading

Gold intraday outlook (1 hour chart)

Technical analysis:
The RSI, which is above 50, and the MACD indicates an upwards movement.
The price is above MA (50) now, suggesting that an upwards movement may prevail.

Fundamental:
Gold erased gains, heading for its second decline in three sessions as a rebound in U.S. Treasury yields curbed demand for the non-interest-bearing metal.

What the possible outcomes are :
The crucial level is still at 1,810 .
If the price breaks the 1,810 level, we we should expect a continued surge towards the resistance level of 1,826.
A decrease in the price under the 1,810 support level will lead the gold to the following levels of 1,796 and 1,792. Open / Comment

2021-07-21 08:10:05 #intraday_trading

Check out our intraday trading idea

EURUSD is possibly bearish

Technical analysis
The EMA(100) is higher than the EMA(50), which is advantageous for bears
These lines cross, which is favourable for opening a trade
The MACD is below 0, with the signal line pointing down
The RSI is below 50

Key levels
Support 1.17566 1.17426
Resistance 1.17999 1.18243

Learn more Open / Comment

2021-07-21 08:00:12 #education

A risk/reward ratio tip

The risk/reward ratio can significantly boost your chances of gaining profit in the long run. It measures and compares the distance between your entry point and your Stop-Loss and Take-Profit orders.

Scalpers and day traders are advised to set a minimum risk/reward ratio of 1:2. At the same time, swing and position traders should set a minimum risk/reward ratio of 1:3. Open / Comment

2021-07-21 07:00:02 TODAY’S HIGHLIGHTS

Retail Sales, Australia
EIA Crude Oil Stocks change, USA

This affects:
AUD and its subsequent pairs
Oil prices


ECONOMIC CALENDAR Open / Comment

2021-07-20 15:24:53 Photo
TRADING IDEA
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Trading system - AUTOCHARTIST

#USDJPY

Target Level: 109.3224
Target Period: 4 hours
Interval: 1 hour

Possible bearish price movement towards the support 109.3224 within the next 4 hours.
Supported by Downward sloping Moving Average Open / Comment

2021-07-20 14:15:20 #intraday_trading

Check out our intraday trading idea

XAUUSD is possibly bullish

Technical analysis
The price trades above EMA(50) and EMA(100)
These EMAs tend to cross soon, which may be advantageous for order opening
EMA(100) is above EMA(50), which is beneficial for bears
The MACD indicator is above 0 and neutral
The RSI is above 50

Key levels
Support 1,810.40 1,803.75
Resistance 1,819.17 1,824.94

Learn more Open / Comment

2021-07-20 14:05:26 Dear subscribers,
Thank you all for being with us. Today is the beginning of the second of two great Muslim festivals.

During the festival, families that can afford to sacrifice a ritually acceptable animal (sheep, goat, camel, or cow) divide the flesh equally among themselves, the poor, friends and neighbours. Eid Al Adha is also a time for visiting friends and family and for exchanging gifts.

We wish a happy Eid Al Adha to all Muslims. May joy, happiness and prosperity be with you and your families.
Eid Mubarak! Open / Comment

2021-07-20 11:54:00 #XAUUSD #intraday_trading

Gold intraday outlook (4 hour chart)

Technical analysis:
The RSI, which is under 50, indicates a downwards movement, while the MACD suggest a possible correction upwards.
The price is under MA (200), suggesting that the downwards movement may prevail.

Fundamental:
Gold steadied as stock markets found their feet after falling sharply on fears the Delta variant would harm global growth prospects.

What the possible outcomes are :
The crucial level is 1,810 .
If the price fails under the 1,810 level, we may see a decline to the next support level at 1,796.
A decrease in the price under this support level will lead the gold to the following levels of 1,792 and 1,784.
Contrarily, the pair may rebound from 1,810 and rise towards the resistance level of 1,826.
If the pair manages to surpass this resistance level, we should expect a continued surge towards the resistance level of 1,835. Open / Comment

2021-07-20 11:53:51 Open / Comment

2021-07-20 10:04:55 TRADING IDEA
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Trading system - AUTOCHARTIST

#XAUUSD

Target Level: 1821.3599
Target Period: 4 hours
Interval: 1 hour

Possible bullish price movement towards the resistance 1821.3599 within the next 4 hours.
Supported by Upward sloping Moving Average Open / Comment