Gold Bull Run Begins.........

Long time. Not posted anything.
Finally noticed something worthwhile to post.

Looks like it's beginning of another Gold Bull run.

Whats interesting in this chart is the false break of price past Bull 38.2 FIB level and reversal.
From March 14 till May 14 price was trading within narrow range.
Then it had broken the range, created false break before reversing out.
This week's Bullish candle confirmed the reversal.
Such signals have been very very powerful.
And now price is likely to reach 1560 level.

GBPNZD Monthly Analysis Jan 14

Similar to EUR NZD this pair looks very bullish after breaking resistance at 2.00.

Target for this pair is 2.10 if price holds above 2.00.
Monthly and Weekly charts below

EUR NZD Monthly Analysis Jan 14

This pair looks extremely bullish on weekly and monthly charts. This pair has rejected 38.2 and 50% Bullish fibs and trendline support.

Pair is likely to reach 1.70 which is a long term resistance and then if holds above it 1.82.
Weekly

 Monthly

AUD Pairs Weekly Analysis 27012014

Update : My bearish bias on AUD pairs made on 27th Jan 2014 are no longer valid now.

AUD is becoming bullish across all pairs post Reserve Bank of Australia's decision to keep interest rates on hold at 2.5 %. 
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AUD , CAD are one of the weakest currencies at the moment. This is quite evident from Below image.

Important support levels were broken,retested and rejected on some AUD pairs last week. Below are my thoughts and trade setup ideas.



AUD/CHF : CHF is currently one of the strongest currency and AUD one of the weakest. The pair has broken important support at 0.82300 and then at 0.78500. I missed my sell limit order entry at 0.82300 level by few pips 2 weeks back and was expecting price to return to this level but it didnt.
Weekly Stochastics are bearish.

I will be placing a sell limit order at 0.78100 for a target of 0.74100.


EUR/AUD: This pair has broken resistance at 1.50500 and 1.56200. I expect price to retest 1.56200 next week and continue its bull run.

GBP/AUD : This pair has broken weekly resistence at 1.87 and likely to resume its uptrend after retesting it.

EUR/USD Weekly Analysis 6th January 2014

Eur is looking weak across all pairs. Although this pair has not broken last Low of 1.33700 yet. I'm bearish on this pair for below reasons.

Pair couldn't break past monthly resistance level @ 1.38.
Double top is created on weekly chart at 1.38 level.
Bearish breakout bar of last week clearly indicates change in direction. You can see same bearish breakout bar on EUR/GBP, EUR/AUD, EUR/NZD, EUR/CAD.

Although I'm long on this pair from 1.36100 level. I will be looking to close my longs at 1.36700 and enter short at same level for a target of 1.33800.

CAD/JPY

CAD/JPY: This pair is looking more bullish after rejection of 161.8 of Monthly Bull FIB.
The pair is likely to reach its 2nd Target of 261.8 Bull FIB at 105.

This pair has completed Break, retest and Rejection sequence of below levels which adds Confluence to its bullish Bias.

92.700
97.600

Monthly Stochastics are bullish.

Daily has created Bullish Pin Bar rejecting 21 EMA. However the pair will touch 97.400 level to hunt stops before resuming its uptrend.

I will be placing 2 pending Buy Limit orders at 30% and 70% retracement of Friday's Bullish Pin Bar.

Targets for this pair are as follows
100
105
110

Update : 7th January 2014. Price went against my initial expectation. I had placed buystop at 98.900 which didnt trigger and saved me from Drawdown trade. Price is likely to touch 94.700 level now.