The gold fell over 550 pips on Tuesday and the price has gone through a full day of retracement on Wednesday.
Price is now seen resisted constantly at supply zone around 1523 and has just made a 150 pips of bearish wave.
Wait for a better price in the smaller timeframe to sell.
The EURUSD turned out accordingly to what was forecasted in the weekly forecast.
The price broke out of the consolidation for the first time but pulled back immediately.
Based on the current structure, the EURUSD will continue if it doesn't break and close above 1.12.
Wait for the price to fall and pull back further into the immediate supply zone at 1.112 to buy.
US30 has been consolidating for the past 2 weeks and the closing price of the daily candle is also getting lower.
Putting aside fundamental and just trading with pure technical analysis for the short-term, selling the US30 near the range high could be a good opportunity.
The price is now retracing higher from the bottom of the consolidation while an ABCD formation...
Are you one of those who were trapped by the recent breakout?
You are definitely not alone and many are still trapped and hanging on to their buy orders.
And what's very worrying for the buyers is that the gold has retraced significantly and beyond the 618 level which will definitely cause some form of panic.
This is the part where it matters the most because...
The gold has broken new high again after close to a month of consolidation.
Those who chased after the trend when the Asia market opened this morning would have found themselves trapped by a sudden pullback lasted till right now.
The dilemma here is whether the price will retrace deeper but one thing for sure is that gold will continue to climb.
The question is...
EURUSD consolidated further one the first trading day but has started to turn bearish as it broke below a minor rising trendline.
According to the current structure, the price may soon break below the current range and fall towards the demand zone just above 1.12, supported by a rising trendline.
Traders can choose to do a short-term sell at the demand zone which...
During Fed Powell's testimony last night, the market was certain that a rate cut will happen this month.
The dollar fell and EURUSD gained steadily after it broke above a falling trendline.
The falling structure has broken and a rising structure just started to form.
Wait for a pullback and look for buy opportunity around 1.126.
The gold price was seen support at the range bottom and a rebound has caused the price to break above a falling trendline.
And in that process, the market has also completed 2 waves of retracement from range high to the range low.
However, the market is still mixed due to the FOMC meeting minutes tonight but holding a long position at range bottom could still...
Half of the first trading day has passed and the gold price has been climbing gradually towards the middle of the current range.
The gold is expected to consolidate throughout the first half of this trading week while anticipating for the Fed's decision.
The completion of the current ABCD formation could just determine the top of the day range for today which will...
The price has bottomed within a 1-year range with multiple signs of reversal.
A bullish bat pattern was formed while the price has broken above an immediate falling trendline.
Besides, the current price could also be the beginning of the 2nd shoulder of an inverse head and shoulder.
Aside from the technical aspect, the pound is simply undervalued for a long time...
As the U.S. called a truce with China on the trade war, the dollar has begun to recover together with a technically oversold dollar.
EURUSD since peaking at 1.1410 has retraced close to 10 cents after the 2nd wave of bearish movement has begun early this morning.
Since the US-China trade war has temporary halted and while the market is still anticipating whether...
After forming 4 consecutive days of bullish candles, EURUSD was resisted at the top of a rising channel as it completed an AB=CD pattern.
Just as I shared in my weekly forecast for this week, the upside for EURUSD is already limited.
The price has fallen and yesterday, forming a bearish engulfing, showing that the price may continue to fall and pull back...
EURUSD fell into consolidation after the most recent bullish run.
The price has pulled back once and the rebound followed was not strong which may lead to another wave of pullback.
From the current structure, we are most likely going to expect the 2nd wave of pullback (probable AB=CD).
We will wait for the pullback and look for buy opportunity at 1.126.
EURUSD gapped down, covered the gap and continue to retrace lower.
The break above of 1.13 has already shown that price is most likely to climb further.
Taking reference from the previous wave of retracement before the breakout, the price will retrace just below 1.13 and reach the 618 level.
Wait for the price to retrace further to buy EURUSD between 1.128 and...
The gold has gained tremendously since last Friday and continue so for the first 2 trading days this week.
The fell into a consolidation after a strong pullback since it reached the highest at 1344, a strong supply zone in the weekly chart.
At the same time, the dollar also showed strong support at 97 and further pullback is expected which will cause the gold to...
AUDUSD has completed 2 waves of retracement which formed an AB=CD pattern.
It was completed within a supply zone defined by a previous low turned resistance.
RBA is expected to cut rate but AUDUSD has climbed for the 3rd consecutive week.
Besides, an inside bar break down has just happened in the H4 chart and the price has retraced back into the inside bar.
EURUSD has climbed for the 2nd consecutive days and is about to approach its previous high at 1.1215.
Based on the previous wave of rising trend, the price is expected to climb beyond 1.1215 and test the supply zone just above 1.1220.
As of now, the price might experience a short period of consolidation between 1.1190 and 1.1160.
It would not be a good price to...
The gold has retraced through the week after the 1st bullish trend has completed from 1273 to 1287.
The retracement has formed an AB=CD pattern and the price is slowly breaking away from the bearish structure as seen in H1 chart.
The candle bodies have shrunk as it fell towards point D of ABCD pattern which is a sign of weakening sellers.
It is a good time to...