Technical Analysis from fx77 option

To sum up, the non-USD currencies index are quite active today, while commodities lose its momentum so investors may think about buying in gold as a alternative choice to avoid the underlying risks. But we can not overlook the fact that once it falls below 89.00 as the threshold then the aftermarket is going to be bullish. What we need to do is clear our mind and choose Call option as soon as the price movement gives out hope. As before-mentioned, now that buying gold could be a risk-evading strategy, it could be easy for investors to decide. Climbing above 1220 again won’t be a challenge. As for commodities, let’s wait for the table turn.
 Gold 
Resistance: 1210 1220
Support : 1195 1190
In the short run the gold will swing back and forth $1200/ Ounce. Once it consolidates around $1195/ Ounce then we can consider buying in Call options. In the first half the peaks stayed near  $1210/ Ounce, if it is able to reach $1210/ Ounce then continuing to reach $1220/ Ounce is not a problem.
Trading view for Gold:



Silver
Resistance: 16.50  17.00
Support :16.00  15.80
In the short term silver will linger around the area 16.00-16.50, so still, Call options for silver. Let’s set the gold between 16.50-17.00.
Trading view for Silver:

EUR/USD
Resistance:1.2375  1.2420
Support : 1.2300  1.2250
The lowest triangle shape is a key moment to choose Call option. Best opportunity to choose Call option comes around 1.2280 , the situation between 1.2350-1.2400 is bullish.
Trading view for EUR:

USD/JPY
Resistance:121.00  121.50
 Support : 120.15  119.90
The volatility is obvious to see, first it plummeted to 119.90 then it rose up to 121.20 afterwards. The target is somewhere near 121.20 but this time we switch to Put options.
Trading view for JPY:

GBP/USD
Resistance:1.5600  1.5800
Support : 120.15  119.90
GBP/USD hold the place again at 1.5600, in the near term we can focus on the area 1.5650-1.5700 and consider choosing Call option.

[Tips]
All the information mentioned above is for reference only. The FX team will keep an eye on the market and set up the trading strategies specifically. If you are looking for more signal-providing services and investment  instructions, please pay more attention to us.


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