As we can see on the H1 chart the GBP/AUD is between two critical levels.
The supply above is a great level to sell GBP/AUD and the demand below is a great level to buy.
BTW - if the price will break out the demand below it will tend to reach the demand at the bottom.
In that case, we can look for a sell position until the price will reach the demand at the bottom.
Euro gaining a bit of strength since the end of September.
From our technical prospective if the resistance N is going to be fully broken we are expecting it to become support aiming the yellow zone where from our opinion we'll se some serious sell off.
Yesterday's analysis was another bingo. Two nearest zones we pinpointed proved its function. Dax opened at the support zone at 12 598 and closed the gap right at the beginning of the session. The price went up just to stall at our resistance level of 12 676. This level was retested by a few points before we saw a correction in the daily uptrend. Dax then closed...
We saw another bullish happiness for Dax. After the initial long, buyers took a lunch break and the price resumed its climb later in the afternoon session. The resistance zone at 12 598 was broken and functioned as a support. Dax formed a new high of the recent past weeks but didn't hold the throne for long. The price then closed the day at 12 624.
Yesterday's Price Action was, unlike two previous days, a great success with regards to our analysis and we made some decent profits. Dax descended to touch the support at 12 008 where we found buyers. This level formed an intraday low and Dax headed higher from there. The price closed at Wednesday's high range and today we open with an ascending gap.
As we thought, yesterday's session was very lazy as there was a bank holiday in the US, Canada and Japan. We saw very limited volatility throughout the day and Dax hasn't really taken any clear directional move. Today we open with an ascending gap.
Resistance: 12 348, 12 481, 12 645
Support: 12 598
Statistics for today
Detailed statistics in...
Friday's session was fully characterized by strong bullish sentiment, giving to the overall markets risk-on environment. From the beginning, buyers gained momentum and despite having two resistance zones on their way, nothing stopped the positive drive upwards. Sellers stood almost no chance to profit. The price opened the week at Friday's close range.
Yesterday's session was another occasion where Dax just ignored our analysis. We expected a short move below Monday's low and the entry of buyers around the drawn trend line. Instead of that, buyers were very active right from the beginning of the session.
Resistance: 12 214, 12 380
Support: trend line, 12 008
Statistics for today
The USOIL is between two critical key levels which are great levels for short term trades.
The supply above is a great level for sell position and also seems like a Quasimodo pattern,
The demand below seems like a great level for buy position.
Both opportunities are referred to short terms forex traders.
After having great success in recent days, yesterday's analysis wasn't that good. Although we saw the price decline towards our mentioned support level at 12 065, Dax hasn't stopped there and continued lower. Following was the breakout of Monday's low which, surprisingly, had a low probability.
Resistance: 12 214, 12 068
Monday's session turned out spot on, exactly as we predicted. Dax descended towards the support zone at 11 969 where buyers stepped in to flex their muscles. The steady bullish momentum created took the price above Friday's high, which we highlighted had a 90% statistical probability of being broken. Once this statistic was fulfilled, Dax retested the resistance...
The last session of the past week started by a decline towards the levels caused by NFP. Later on, buyers stepped in and controlled Friday's Price Action till the close at the intraday high. Today, Dax opens with a descending gap.
Resistance: 12 124, 12 214
Support: 11 969, 11 845
Statistics for today
Detailed statistics in the Statistical...
For the swingers among us, we can see the XAU/USD is bearish.
For now, the price is between two Quasimodo levels.
Quasimodo pattern is one of the most powerful reversal patterns.
The supply above is a bearish QUASIMODO pattern and a great level for sell position.
The demand below is a bullish Quasimodo pattern and a great level to buy XAU/USD.
What a drop! We correctly estimated the initial attempts of sellers to return back into the range of Monday. The first support at 12 427 was ignored completely and the second support at 12 386 slowed down the bearish momentum and buyers held the price in a corrective setback for a few hours. Following was an aggressive move to the downside caused by the US ISM...
Welcome to the first analysis of October. Yesterday's analysis was yet another success. Soon after the open, the price rose sharply upwards. We saw a proper bearish reaction of some 40 points from the resistance zone at 12 390. Shortly after that, bulls stepped in to dominate the price action until the session end. Dax closed near it's intraday high and today we...
Yet again, yesterday's analysis turned out as expected. We first found some buyers and closed the gap. There were no sellers at the resistance zone of 12 245 and therefore we were waiting for another level at 12 321 which was eventually retested later in the session. The price closed at the resistance level of 12 321.
Resistance: 12 390
The gold price is just about to reach the fresh supply above.
It is a great supply for sell position,
If we look at the D1 chart we can see that the price has performed a head & shoulders pattern but didn't complete all pattern yet.
If the price will react to the supply above and move down from there it will complete the right shoulder and all the pattern.