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XAU/USD approaching resistance, potential drop!

XAUUSD is approaching our first resistance at 1307.84 (61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1297.82 (38.2% Fibonacci retracement , 100% Fibonacci extension ). Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
by Jeff Wecker
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AUD/USD approaching resistance, potential drop!

AUDUSD is approaching our resistance at 0.7166 (horizontal swing high resistance, 78.6% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 0.7047 (61.8% Fibonacci retracement , horizontal swing low support, 76.4% Fibonacci retracement ). Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
by Jeff Wecker
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NZD/USD approaching resistance, potential drop!

NZDUSD is approaching our resistance at 0.6754 (horizontal swing high resistance, 23.6% Fibonacci retracement , short term descending line) where a strong drop might occur below this level pushing price down to our major support at 0.6723 (61horizontal swing low support). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
by Jeff Wecker
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GBP/USD approaching resistance, potential drop!

GBPUSD is approaching our resistance at 1.3118 (horizontal overlap resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1.3039 (61.8% Fibonacci retracement , horizontal swing low support). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
by Jeff Wecker
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NZD/USD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.6720 (100% Fibonacci extension , 61.8% Fibonacci retracement , Horizontal swing low support) where a strong bounce might occur above this level to our major resistance at 0.6829 (61.8% Fibonacci extension , 50% Fibonacci retracement , Horizontal overlap resistance). Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
by Jeff Wecker