-Long term up trend on the Daily and the 4hr.
-Up trend line and down trend line are about to apex.
-Bias towards a buy because of the long term up trend.
-Confirmed up trend channel as price has not neglected its 15%(measured the high and subtracted the low. Took 15% of the total and added it to the low.)
-Just waiting to see what happens. Add to that winner if...
due to a a weakening dollar and recession across the world i expect most people to hedge on fold especially since warrren buffet has invest 543million dollars in to a gold mining company. gold is expected to rise as per the economic cycle.
wair for retracement to 1900 area before you buy if you want a tight stop loss.
This pair is an interesting one to watch. EURNZD is at the 0.5 fib level and seems to be forming the reverse head and shoulder pattern. Really tricky. We will rather wait and see how price action plays out.
We're approaching a strong level of structure on the EURUSD, and it'll be nice to see how the market reacts to this level.
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Market has successfully run into a daily level of structure (previous support) and if the level holds, we might possibly see it become resistance for further push to the downside.
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