Gold made some massive bullish movement during the previous week, this movement was facilitated by the fundamentals underlying the USD either directly or indirectly (correlation effect). This week opens with a drag xauusd sluggishly dragging to the previous resistance around 1825-1828. This level has been proven to be a strong level following several reversal at...
We could have a possible continuation down to the downside. We could have a quick retracement at the highlighted zone during the push. Most highly anticipated area is below the 1.26039 horizontal ray in the zone. If area doesn't get respected, we could look at the 1.2581 - 1.2557 zone.
If price breaks the 0.85586 high, we could have a possible push to the downside at the 0.85788 - 0.85664 zone
We could have a possible push to the upside on the highlighted zones
If price breaks the 120.394 low, we could have a possible buy on 120.256 - 120.060 zone the or just a bounce of the 120.256 - 120.060 zone and a drop to the 119.930 - 119.775 zone before it finally takes off
If price breaks the 1.27143 high, we could have a possible short on the 1.27589 - 1.27337 zone
If price breaks the 1.75081 high, we could have a possible short on the 1.761142 - 1.756565 zone, but if price breaks to the downside, we could have possible longs on the 1.731839 - 1.729186 zone
If price rallies to the upside, we could have a possible reversal at the 1.742969 - 1.742234 zone
Possible longs on highlighted zones Price could buy off the 1.3809 - 1.3839 our buy on that zone, go down to the 1.3792 - 1.3752 zone before breaking the recently created high.
We could have a short on the 1.273029 - 1.270871 zone
We could have a possible sell on 1.493617 - 1.492296 zone
We could have a sell in the 1.396872 - 1.393277 zone
Price ranging at typical supply zone. Price yet to break previous high, there's a very high probability we could get a sell @ 110.766 - 110.638. If price breaks the zone, we'll look for a sell on the 111.155 - 111.065 zone
Possible continuation to the upside from the zone highlighted
Updates and more refined areas will be posted as price heads towards the zone
You can wait for proper confirmation before entry, I'm in on aggressive
This pair is currently within a bear flag pattern. After completing wave E, we may now see price is forming a smaller inner bear flag pattern which is also looking to retest the 61.80% Fibonacci retracement level. Expecting price shows bearish momentum after a breakout from the smaller bear flag continuation pattern.
Currently, price action is at the support zone on the 4hr tf. If we look to the Daily, we can see that the market structure is in uptrend. If we look left on the 4hr tf, we see that this support zone has not been broken/still respects the zone. If price breaks and retest then the support has becomes a resistance zone . This means price action will be short untill...