EUR-USD broke out of the rising wedge
And we are seeing a pullback Up from the local support level
However, the correction isn't over yet
And thus I expect the pair to go down
With 4 targets in sight
With the final one being the horizontal key level
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Gold has advanced on my target that I outlined yesterday.
After the price broke the resistance of 1859.06 in mid-December, gold left the falling channel.
It rose to the top of 1959.95 and collapsed.
During the fall, the price was able to break through two resistance lines.
The line of...
Since the beginning of last year, the price has been moving in a growing channel.
Twice during this time, she left it. The first time is in the summer of 2020.
The second one - at the end of November, when it broke through the resistance line 1.202.
Last week, the price returned to the line.
The price touched it at point 1.214, and then broke through - 1.215.
EUR-CAD is trading in a bear flag pattern
Below key horizontal structure
I think the pair will trade within the flag for a while
And then will fall with a breakout following it hitting the resistance area
The final target being the horizontal support
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☑️ GOLD is trading between the two lines
While also being suppressed by the horizontal key level
Thus, the upside seem limited at the moment
However, the price action suggests a possible upward move
Therefore, I expect Gold to go UP first
With the maximum target being the resistance
And then to fall from there...
☑️EUR_JPY made a pullback to the broken rising key level
After the breakout from the bear flag pattern
Now, I expect the resistance confluence to stand strong
And for the pair to fall back to the low of the breakout
With the potential of going even lower
As the high of the bear flag stands below strong daily resistance
Pay attention to the resistance line. In today's idea, this line of resistance plays an important role. As soon as the price reaches the line, it immediately bounces off it and begins its downward fall. Also in today's idea, the support zone plays a major role. For several days, the price does not go below the zone.
The price is moving in line with the target I voiced yesterday.
After breaking through the resistance line 1.215, the price continued to fall, but now it is making the first steps of corrective movement in the direction of the line, which gives reason to expect that the price...
After the collapse in October last year, the price showed strong growth and in the course of this growth came to the resistance line 30099. This strong line has existed since August 2020, so it was not surprising that it stopped the price growth.
From this line the price fell to the support line 28875. And thus, in October, an upward channel began to form, in...
Since October last year, the price has been moving in a growing channel.
Last week it reached the channel border - resistance 142.29.
Having collapsed, the price broke through the resistance line at 141.51.
However, it quickly corrected the fall.
Now the price is in the resistance area at 141.45.
This is the strong line of...
☑️NZD_USD broke out of the head and shoulders pattern
And is now having a pullback to the broken neckline
I think the fall will continue further
And thus I expect the pair to retest the lower horizontal support
That is only slightly above the broader rising channel support line
Short after pullback!↘️
My forecast yesterday came true.
The price bounced off the support 3749.1 and rose.
Thus, the price continued to move in an upward trend.
This trend started with the support line in November 2020.
I expect the price to complete the rally and touch the resistance 3814.6.
This is the strong...
After Friday's volatile options expiry, global futures are surging (after a somewhat muted MLK day), erasing most of Friday's losses as investors found more risk appetite. This was off the back of a potential dovish speech from Biden's pick for Treasury Secretary, Janet Yellen, who is scheduled to speak at 10AM this morning. Asian stocks were notably higher, while...
Here is our technical outlook on USDCHF.
Our analysis is based on purely technical outlook.
According to our drawing is trading within a supply cluster.
Based on our analysis the price will go lower
to the underlined demand level.
Please, support our analysis with like and comment!
At the moment, the price is testing two important zones: the horizontal resistance and the channel resistance.
If the resistance level is respected and the next candlestick turns bearish, I believe that we might have the same market behavior as on Jan 8th and Jan 14th.
If you have a different view, please share, I would love to hear your analysis.
I wish you good trading and working mood!
As we can see, my previous idea went in the direction that I set. This is a good result so congratulations.
As we can see, in today's idea again the main role is played by the resistance line and the support level. As we...