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Valutrades Market Blast Technicals 24 September 2019

   

Welcome to this week’s Market Blast Technicals where we will look at Gold (XAUUSD), USDCHF, NZDUSD, the US500 (S&P 500) index and the US100 (NASDAQ) Index.

24 September 2019 Technicals

The NASDAQ hit its all time high 2 months ago and has been trending up into a pennant but watch for a possible ascending triangle.

Screenshot 2019-09-24 at 10.20.05

A similar situation can be found on the S&P 500 so we will watch for a break above resistance or a break below this lower trend line.

NZDUSD has been trying to break this bearish trend and has broken this 20 period moving average which has been acting as a dynamic line of resistance.

Screenshot 2019-09-24 at 10.20.32

If you have faith in the Stochastic Oscillator, this could be an “overbought” signal so let’s keep an eye on it.

Price action on USDCHF has broken through this lower trend line but watch your key levels which also correspond to current fibonacci levels so we need to see a move away from these points.

Gold has returned to this key level of $1525 which has previously acted as both support and resistance so we will watch this week for a move either way.

That’s all for now. Happy trading with Valutrades and we will see you next week.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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