GOLD Triangle update

 

• Gold Daily chart continues to contract in a triangle pattern.
• Price is nearing the daily cloud which has been acting  as resistance. 
• As price nears the cloud volatility may increase.

S&P 500 Futures chart update

• ES 4 Hour chart shows price nearing recent high's
• Crucial support levels for the day at 78.6% Fib level and the 30 Minutes cloud.

EURUSD Update

 

• Pair making new lows in four hour time frame as seen in first chart.
• 2nd chart shows price violating crucial support zone of daily time frame.
• As discussed in the earlier post EURUSD continues to look weak below 200 SMA.

NIFTY Chart update

• Nifty daily chart caught in a small range.
• Closing above 23.6% or below 38.2% Fib levels may give good direction.
• Low EMA of daily chart is yet to be tested. If this level is not violated, up move of nifty is likely to continue.

EURUSD Below 200 Day SMA

 

• Sustaining below 200 SMA the correction in EURUSD is likely to extend
• 4 Hour chart too shows price giving new lows on staying below the cloud.
• Strength only if price is able to move back above 200 Day SMA.