As shown in the '4H' candle, the support is now tested at the 'A' level as shown in the figure which represents the falling trend after the break (the exchange of roles between the resistance and support levels) Again, and directly support the "B" "directly, but the false break will confirm the price rebound to the region '' I '' as the least estimate
As shown from the figure has been penetrating the falling trend under the rise of geopolitical intensity again, but on a personal level, this climb is only temporary and tend to drop the price again
In general, in the figure we show the best areas to enter into a sale (I do not recommend) and buy into a sale
Please note that in the meantime the mind is in the...
A breakout from the support level will immediately lead to a re-test of the "B" support level while the pair is still in the "C" level and the breach of the resistance level (which is unlikely) The first goal is "D" and the second goal is "E"
Important point: The false break of support in A is the cause of the relatively strong rebound
According to the previous analysis '' click here '' we analyzed that the false break refers to the collapse of the euro price either the dollar and now the euro price continues to collapse and is in a very sensitive area.
The break will confirm that the collapse will occur while the rebound will return the resistance directly to the bearish trend "higher"
According to the previous and current analysis, the pair knows a rapid rise in line with the geopolitical tensions and the upcoming war as the dollar is known as a major deterioration against most currencies and this is a suitable opportunity for traders for quick profits
A break of resistance will support the price for a rise in the case of a false break. The price will repeat the previous support level 16.50 Any breach of the two levels will give the direction of the future price movement directly with caution from the false fractures
Currently rough in a neutral area with a relatively bearish tendency, the following analysis is a personal analysis and represents my point of view
We have three Importantes points
False fracture: support for landing
Break Resistance: Support Landing
Continuing in this area: support the rebound
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According to my own technical analysis, gold may see a negative trend next week especially as all the signals are negative only if the geopolitical concerns between the US and North Korea dont see another abrubt developments the trend gonna be Positive Again