Thursday started off promising with Gold hovering around the 1242 level. But then the dollar DXY broke out above the midpoint of the BB and Gold fell, closing the day below the 6 day moving average. At it's low, it touched the 8 day moving average were I am sure many people had their stops. As the Friday session begins in Asia, Gold continues to fall....
Gold continued to move higher today, closing at 1243.1, a gain of 7.9 points for the precious metal. The US Dollar Index $DXY fell today which helped fuel Gold's rise. As I pointed out yesterday, the dollar had closed under the midpoint on the BollingerBand after having tried to break through that line of resistance and I thought that it would move lower today....
NZDCHF has closed below the middle Bollinger Band. RSI is below 50. SL set at 60 pips. TP set near previous lows.
After the big move up yesterday, Gold took a pause and closed down slightly to end the day at 1235.5. The low of the day touched the 1.5 Std Dev Bollinger Band at which point buyers stepped in and bought in anticipation of the next move. On a day where the dollar strengthened, Gold maintaining it's position can be seen as bullish. On the chart below, I've added 2...
Gold broke out of the 1220 resistance level today and pushed up to a daily high of 1237.5. This was the breakout that I had been waiting for. Gold clearly wants to go higher. The first target is the .618 extension of the move from January @ 1241.7. A more likely target is 1278.6 which would be the measured move of the (A) wave. I have put the probably extensions...
Gold rose higher today after shaking off a selling spree after the NFP numbers were released. Prices fell right to the 6 day moving average before buyers stepped in and gold prices rallied. Prices continued to move higher right up to the closing bell and the action stopped @ 1221.6. Let's see what happens next week but if price can finally break through the 1221...
Gold pushed up past the 1220 resistance level for the 3rd time since the start of the year, only to be met with strong resistance and falling back under 1220 to be within the range from 1182 - 1220. While I am still long, the upper wick on today's candle is not the most encouraging for the bulls. On the bullish side, price is still above the 6, 8 and 21 day...
Gold started the day with a big selloff but then recovered after the FOMC and Janet Yellen announced that they would not be raising interest rates at this time. Gold is now attempting to break out of a potential triple top at $1220. If Gold can break through, then the first target would be 1241.7, the .618 fib extention from the bull run that started at the end of...
EURAUD has closed above the middle Bollinger Band, closing above support. RSI is above 50. I have entered at the open of the market on 2/1/17.
Bitcoin Long Term Trend Analysis: - Pitchfork - Bollingerbands - Volume - EMA - Trend Channel - Long Term Trendline - Fibonacci Retracement
Gold rose ~15 points today and broke through the 6 and 8 day moving average. It also broke through the trend line starting back on election night, Nov 8. Price also failed to break below the mid line of the Bollinger Band. The next resistance level is at 1220 so let's see if Gold can move up and past it. Look at the Heikin Ashi chart below. 2 days ago there was a...
CADCHF has closed below the lower Bollinger Band on the 1H chart. Very strong bearish candle on the daily chart. RSI is below 50. The bears are in control. I expect price to fall to previous lows.
Euro may drop on Monday allowing for USD to gain some pace but in a long term basis, Euro will look to strengthen against USD Euro may achieve the 1.08000 handle around middle of the week.
USDJPY has closed slightly above the middle Bollinger Band, closing above the trend line of the descending triangle. TP set at 300 pips at previous highs, SL set at 90 pips. RSI is above 50. I will enter on the 4H chart after price closes above the support line marked.
Hi All, I've been refining my charts since my last post. Here's the new chart layout: Red Bollinger Band with standard 2.0 STD and 20 day midline. 8 period MA - yellow line - *new 6 period MA - purple cross - *new Closing Price pushed out 5 days - *new On Tuesday, Gold closed at the 8 day MA, having cracked the 6 day MA. Then on Wednesday, Gold broke...
AUDCAD shows a clear reversal on the daily chart. A Bollinger Band squeeze has set up a very strong Bollinger Band breakout on the 4H chart. RSI was recently overbought. TP set at fib retracement levels 61.8 + 100%. I have entered short upon 4H candle closing strongly through the lower Bollinger Band.
EURCAD is forming a strong reversal pattern on the daily time frame. RSI recently overbought on 4H chart. Price failed to break above support. BB squeeze formed on 4H chart. I will enter short after 4H candle breaks through and closes below the lower Bollinger Band . TP Set at previous lows
USDCAD has closed above the middle Bollinger Band on both the weekly AND the daily chart. RSI is above 50. I have entered at the open of the market on 1/20/2017. Daily view is linked to this idea.