Wednesday 18th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 33270 support and 38119.37 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Tuesday 17th August 2021: Technical Outlook and Review
On the Daily timeframe, price bullish towards the daily resistance at 93.217 in line with 78.6% Fibonacci retracement. On the other hand, price may bearish towards the daily support at 91.782 in line with 78.6% Fibonacci retracement and 50% Fibonacci extension.
Monday 16th August 2021: Technical Outlook and Review
On the H4, price is testing daily resistance at 35600. With stochastics testing resistance, we might see a bearish scenario where sellers may enter and push price lower towards 1st support at 34922. Otherwise, failure to hold below 1st resistance, price may swing towards 2nd resistance at 36055 instead.
Friday 13th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 33270 support and 37770 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Thursday 12th August 2021: Technical Outlook and Review
On the H4, price drifted higher and is now testing daily resistance at 35600. With stochastics testing resistance, we see a low probability bearish scenario where sellers may enter and push price lower towards 1st support at 34922.
Wednesday 11th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 33270 support and 37770 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Tuesday 10th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 32765 support and 37525 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Thursday 05th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 32765 support and 37525 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Wednesday 04th August 2021: Markets follow Wall Street to the green
Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues overnight from Wall Street, as traders shrugged off concerns about the rapid spread of the delta variant of the coronavirus amid continued optimism about the economic outlook.
