Approaching channel / expanding triangle top.
RSI oversold. The channel break at the bottom suggests underlying weakness
A change in strength due to BOE forward guidance: interest rates.
Depends if the DXY falling out a little diamond (daily) as it has, breaks channel a fraction below 80.
XAUUSD has just pushed above key price (1309.96) level so higher (suggestive of further USD weakness)
If touches the top I think a pull back at least to mid channel at 1.658 (maybe lower)
Expanding triangle / 3 points at top? Usually thought of as a continuation (can occasionally be reversal?)
Sentiment EURUSD overall bearish so will follow suit. Hmm.
I do try to look at several things, I think maybe the weekly/monthly outlook for the Euro is more bullish.
(But I want to short the S&P, hoping it's a diamond top, so EUR index to drop, hehe)
Truth is, I'm not sure. Some or a lot of pips. One for the Elliot Wavers maybe. ;)
RSI oversold. The channel break at the bottom suggests underlying weakness
A change in strength due to BOE forward guidance: interest rates.
Depends if the DXY falling out a little diamond (daily) as it has, breaks channel a fraction below 80.
XAUUSD has just pushed above key price (1309.96) level so higher (suggestive of further USD weakness)
If touches the top I think a pull back at least to mid channel at 1.658 (maybe lower)
Expanding triangle / 3 points at top? Usually thought of as a continuation (can occasionally be reversal?)
Sentiment EURUSD overall bearish so will follow suit. Hmm.
I do try to look at several things, I think maybe the weekly/monthly outlook for the Euro is more bullish.
(But I want to short the S&P, hoping it's a diamond top, so EUR index to drop, hehe)
Truth is, I'm not sure. Some or a lot of pips. One for the Elliot Wavers maybe. ;)