The gold has led the longest gain in 3 years and now the price is at an all-time high.
The price has climbed for 7 consecutive days and resistance has been seen rejecting the price from the top of a 35-month symmetrical triangle.
The current wave of a bullish trend was the 2nd and the longest one since the rebound and will likely face with retracement soon.
The day ended with the 1st wave of retracement completed.
The consolidation before the 2nd wave of retracement has just begun and will take a while more until the Euro session later.
The price is most likely to retrace towards the 1.1170 - 1.1160 region just right above the breakout point of the previous falling trendline.
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...
EURUSD had the biggest gain in 10 months and the price has broken above a 5-month falling channel and closed just above a 3-month supply zone at 1.33.
The reversal of a bearish trend came after the price found support at a 2-year demand zone and consolidated for more than a month.
We can't be certain if this is a major or a temporary reversal but without a doubt,...
The dollar had the biggest fall in 6-month and the price was seen breaking below the bottom of a 4-month rising channel.
The NFP was very disappointing and a dovish Fed is starting to look at a possible rate cut based on economic data.
This is already a very clear sign of a major reversal and the dollar is actually resisted and falling from a 618 level in the...
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 made strong gains in the last 2 trading days and finally broke a new high first time in more than 3 months.
Also, this marks the 4th consecutive weekly depreciation for the US stocks, with the most recent week being the weakest week.
With the dollar being rejected and fell from the high and the US stock market continues to plunge, it clearly shows...
EURUSD fell through last week but rebounded off strongly at the bottom of the current range at 1.1120.
It is also a second rebound from a previously broken falling trendline.
In this week, we expect the price to continue to climb towards the top of the range near 1.1260.
The dollar climbed in the first 4 trading days and attempted to break new high above 98.3, only to find itself rejected and plunged.
The strong bearish candle on the last trading day was enough to wipe out all gains.
In this week, it is almost inevitable for the dollar to fall further and will most likely retest the demand zone right below 97.3.
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...
Continuing from my previous post on EURUSD, the price is already in the midst of completing the 2nd wave of retracement.
The price is most likely to rebound off around 1.1170 just above the illustrated seller trap zone.
The gold has failed another attempt to break new low and rebounded off strongly which led to a 2-days again.
The strong rebound by a strong bullish candle also shows a second break-above of the 3-month falling wedge.
The price is expected to climb further towards the current supply zone at 1296.
EURUSD has made an attempt to break new low as it tested its previous low at 1.1110.
The price rebounded off strongly from the previous low as well as from a previously broken falling trendline.
The bull is strong now and in this week, we do expect the price to climb further and test the top of its current range at 1.1250.
The dollar was somewhat consolidating at the beginning and suddenly it attempted to break new high.
The price went slightly above the previous high at 98.3 but immediately got rejected by strong selling pressure.
This is somewhat quite expected of the dollar whenever it attempts to break a new high.
The situation where the U.S. economy is in surely isn't one that...
Since the first breakout of the 3-Month falling trendline, the gold fell all the way close to the previous low and found support at 1273.2.
The price consolidated for about 2 trading days and yesterday it finally jumped and broke above the falling trendline for the second time.
This is also fundamentally caused by falling stock prices and weakening of the dollar...