Is Gold bottoming up and starting an up trend?

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Gold ETF (GLD) has recently broken the down trend resistance and trade about 20D/50D/200D SMA. These are the bullish signals that GLD may have found the bottom and reversed to an uptrend if GLD can stay above 115 and turn the down trend resistance to support.

GLD Feb13-2016

10 Years charts show GLD rebounded from 61.8% Fibonacci Retracement Level at about 100.

GLD 10 years Feb13-2016

Things to watch out for the confirmation of trend reversal:

  1. 200D SMA become the support.
  2. “Higher High, Higher Low” chart pattern formation.

So, standby to invest in Gold using Gold ETF (GLD) when there is a confirmation of uptrend. You can use CPF under CPFIS to invest in GLD.

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USD SGD Pair: Morning Star

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USD/SGD Pair rebounded from 200D SMA support with a Morning Star. This 200D SMA support coincides with 61.8% Fibonacci Retracement Level which is also a critical support which tested 3 times previously.

USD SGD Feb 13-2016

USD/SGD pair is still trading on long term uptrend and currently expected to bounce off from this long term up trend support.

USD SGD Long Term Up Trend Feb 13-2016


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GBP NZD: Trading in a Falling Wedge

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GBP/NZD is currently trading within a Falling Wedge (chart pattern labelled in blue color). This currency pair was rejected at 200D EMA (red line) which is also the 61.8% Fibonacci Retracement Resistance (also the support turned resistance level) at about 2.24. Base on the chart pattern and Fibonacci Expansion, GBP/NZD expect to move lower to the 1st target of 2.08575 (previous resistance) followed by the 161.8% Fibonacci Retracement level at about 2.01983.

GBP NZD Feb 6-2016

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