Forex VPS
Forex VPS
ForexFunction Logo

"Forex trading involves a high level of risk"

Forex VPS
 Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

Gold rebounds with bullish engulfings to counter double top : FxWirePro | March 26, 2018

Print PDF

The gold 0.39% ( XAUUSD 0.54% ) on daily terms: Bullish engulfing patterns have occurred at 1332.05 and 1347.12 levels that counter the previous formation of the double top . These bullish patterns have occurred after testing strong support at neckline coupled with bullish RSI , stochastic curves convergence and bullish DMA & MACD crossovers.

Consequently, the current price is attempting to spike well above DMAs. While 7DMA crosses over 21DMA and MACD also evidences bullish crossover. For now, prices have been moving in tandem with the momentum and trend indications.

As a result, this bullish setup has caused the bulls to resume the uptrend.

Please be noted that the strength in this commodity price after the strong test of support at 21EMA, on the flip side, bears in the intermediate terms resume exactly at rising wedge resistance. The intermediate trend extends rising wedge (refer weekly plotting).

The bullish engulfing pattern has occurred at 1347.12 also on weekly terms that retrace 38.2% Fibonacci levels from the lows of 1046.23 (December 2015).

While stochastic curves pop up with the %k crossover to signal buying momentum. While RSI has also been showing upward convergence to the prevailing price rallies.

To substantiate this bullish stance, MACD and DMAs also show bullish crossovers that signal price rallies to extend further in the days to come.

Hence, long-term investors should wait and watch out closely for decisive breach below 1361.19 levels.

While aggressive traders could participate bullish swing trades by entering trades using boundary binary options with the reasonable reward-to-risk ratio.

This would result in allowing you to participate in ongoing rallies but trading between restrained areas. Use upper strikes at 1361 and 1341.22 levels. The yields are certain as long as underlying spot gold 0.39% prices remain between these two strikes.

Good ownership in front end Gold 0.39% skews: With Gold 0.39% front vols bound to remain firm for longer and as the late cycle Gold 0.39% rally takes hold on the back of the post-Fed, Gold 0.39% skews should stay supported even as 3M 0.95% skews are at the highest level since Aug 2017. Positively skewed IVs of 2m tenor have been signifying the hedging sentiments for bullish risks.

Accordingly, we recommend buying delta-hedged 3M 0.95% XAUUSD 0.54% 25-delta risk reversals @ 1.3/1.6 vol.


Submit Your Comments:

 Forex Trading VPS


Windows 2008/2012 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
Economy buy now2 Core 756MB 15GB 1TB $6.50/M$6.20/M$5.90/M $5.50/M MT4 Pre-InstalledYesFree
Standard buy now 2 Core 1GB 25GB 1.5TB $8.50/M$8.20/M$7.90/M $7.50/M MT4 Pre-InstalledYesFree
Premiumbuy now 2 Core 2GB 40GB 2TB $16/M$15.50/M$15/M$14.50/M MT4 Pre-InstalledYesFree
Advanced buy now4 Core 3GB 60GB 2.5TB $26/M$25/M$24/M $22/M MT4 Pre-InstalledYesFree
Professionalbuy now 4 Core 4GB 80GB 3TB $33/M $32/M$31/M$29/MMT4 Pre-InstalledYesFree
Business buy now 4 Core 6GB 100GB 4TB$46/M $45/M$44/M$42/MMT4 Pre-InstalledYesFree
Platinum buy now 4 Core 8GB 120GB 6TB $59/M $58/M$57/M$55/M MT4 Pre-InstalledYesFree
Diamond buy now 4 Core 12GB 180GB 8TB $89/M $87/M$85/M$81/MMT4 Pre-InstalledYesFree

***We accept Neteller, Skrill, MasterCard, Paypal, Payza, Perfect Money, Webmoney !