Starting down from a top down analysis gold has been looking super bullish on the Monthly, Weekly, and Daily time frames. We have been making higher highs and higher lows throughout this consistent trend. The bank holiday threw a little consolidation into the equation, but everything is still being respected. Going down to H4 we are steadily climbing this bullish...
HL points are starting to form, which means that buyers are exponentially bringing the price up. Currently AUD is on a third trendline bounce, a support, and a 38.2 Fib on the 4 hour timeframe. By using candle stick analysis we also see that sellers in aud are currently getting exhausted. We are aiming for a target of 0.61745. Wait for a HL point on m30 with an...
Euro is currently on an uptrend on the W and D Timeframe. It has pulled back into the 38.2 fib on daily which is very likely to be respected due to the sellers exhaustion we saw on Wednesday. On top of this, euro is has now perfectly retesting the weekly descending trendline it has broken out of, and is now testing a previous D resistance as support, which adds a...
We currently see that UJ is on a third trendline bounce on the H4 chart. HTF momentum has also been extremely bearish these last couple of weeks. Last months candle also closed with a huge exhaustion wick, which means that the market is not trying to push up higher anymore. UJ is at a 38.2 retracement on H4 and has broken out of the counter trendline on m30, we...
GBPUSD is at a previous weekly lower high and third trendline monthly touch. We also have seen a bearish engulfing on Weekly and Monthly which gives us extra confirmation to take a short. Exhaustion wicks at current price is indicating that the market no longer wants to push up higher. I have drawn a counter trendline on m15 and as soon as it breaks this counter...
