July 31, 2013
- EURUSD 4 Hour chart violating 50 period SMA. Closing below this line may give a good trade as it has done in the recent past.
- Last chart shows price moving towards 23.6% Fib level. Falling below this level may give a bigger fall for EURUSD.
- For bulls of EURUSD Need price to close back above 50 period SMA to avoid a fall.
- GLD CHART ANALYSIS
- Gld Daily chart shows price testing 50 Day SMA.
- Weekly chart shows price at 23.6% Fib level.
- Price levels also shows price near previous support level which is acting as resistance. GLD Must break and sustain above these levels for a bigger up move to happen
- Copper 4 Hour chart shows a channel breakdown.
- Weekly chart shows price near the 2011 lows again.
- Copper bulls need to take support at the weekly levels shown in second chart and do a breakout above the resistance line for a bigger up move to happen.
- Weekly close below the support lines will extend the fall in copper.
- Price took support near 20 Day SMA.
- Daily chart with MACD Shows weakness before the results announcement.
- Weekly chart is reacting from the falling resistance line.
- Price testing 20 Day SMA. Sustaining below this level may lead to more weakness. For bulls must protect 20 Day SMA to move higher.