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CAD/CHF
The Dow Jones Industrial Average futures fell more than 900 points, or 5%, to hit their “limit down” level. S&P 500 and Nasdaq 100 futures were also down around 5%. The price of oil fell to a low of $20.84 from $23.40.
Reports of talks between OPEC and the US shale industry did little to ease the selling in the crude oil market last Friday as the market sees little hope of any coordinated approach on supply within OPEC+.
Petra Diamonds said today that it is withdrawing guidance after scaling down its mines to operate at a minimum level.
The miner is complying with South Africa's directive, a nationwide lockdown to control the spread of COVID-19.
Petra also withdrew from a tender after poor attendance, deteriorating market conditions and opportunistic bids.
"Petra’s fifth diamond sale of FY 2020, with tenders in both South Africa and Antwerp, commenced on Thursday 19 March and was due to close on Thursday 26 March. However, sensing the rapid deterioration of market conditions, particularly due to travel restrictions, factory and retail closures, and the spread of COVID-19 in South Africa, the company brought forward the closure of its South African sale to Monday 23 March," said the company in a news release.
The trading rang for today is among the major support @ 0.8430 and the key of resistance @ 0.86 .
The general over short term basis is to the downside targeting 85 as far as area of 0.8430 .
Market Commentary: First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and...may not reach the level of resistance. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Hallow friends Hope all of you are fine!
Everyone made his stretigy by its own opinions.
Trading stratigies as our demand like gold trading is most beneficial as compared to other currencies
the matter is not the trading of gold at all But, Important is the ways through which we gain our profit or loss.
So we all want to attend or recieve all informaton that is important to know the traditional trading environment.
We always admit this is the best plateform ,
I mean Indian Forex is always be the best plateform ever.
Hopefull next always we are helped to each others to understand the basic environment.
So friends be carefull and helped each other.
One important thing else is the power momentum indicator which as you can see show a low power of the bullish trend which can be used to filter the entry of buy positions.
the best approach is only Gold trading all friends So our first priorities are trading through Gold statistics.
Best of luck!!
Keep it Up !!
Thank You.
CAD/CHF's strong rebound this week suggests that a short term bottom is formed at 0.8408 on bullish convergence condition in daily MACD and RSI. Further rebound would likely be seen to 55 days EMA (now at 0.8853
Although eurusd has already made a long move down now, it is the view that eurusd will still continue down as it has still strong momentum. And with that we have bottom/supports at 1.1717 and 1.1553 as possible targets.
The pair is moved down to test the support on 0.8400
if this is breaked we can see the pair move down
if this support is not breaked we can see the pair move up to test the 1st resistance on 0.8433
kal k hi uptrend ko market continue kar skta hai kuki market meh kafi upward strong movement thi kal or kafi buyers ne dominate kara hai
halaki abhi ek support level pe jisko market ache se test kar rha hai agar ye level break hota hai toh defintely strong up movement dikhegi is pair meh
I predict this pair have bullish direction
I suggest to take LONG position today
time frame that is considered while making support and resistance levels – use Daily and Weekly time frame, consider the daily economic news before taking the trade
money management is very effective for getting profits with stop loss and take profits method with current trading position
kal k hi uptrend ko market continue kar skta hai kuki market meh kafi upward strong movement thi kal or kafi buyers ne dominate kara hai
halaki abhi ek support level pe jisko market ache se test kar rha hai agar ye level break hota hai toh defintely strong up movement dikhegi is pair meh
I predict this pair have bullish direction
I suggest to take LONG position today
time frame that is considered while making support and resistance levels – use Daily and Weekly time frame, consider the daily economic news before taking the trade
money management is very effective for getting profits with stop loss and take profits method with current trading position