AlgoVenture

AlgoVenture

Price has been retracing for the past 3 weeks and is moving very close to the top of a 9-month falling channel. The price is also currently supported by a rising trendline, consolidated and may breakout very soon. If the price breaks upwards, we can wait for a pullback to do a short-term buy towards the top of the major channel at 0.5470. Once the price has...

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EURUSD started to reverse on a bearish engulfing at a strong supply zone. Price has came down significantly and even broke below a 1-month rising channel and has since continued to fall. Wait for the price to pull back to the supply zone, created by the breakout of the rising channel at 1.088, targeting 1.0730, and 1.060.

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After a recent impulse buy last Monday, all gains since then has been erased in the same week, resulting in a fake-out as the price continues to fall. In the weekly timeframe, a bearish engulfing was formed thus signaling for a bearish reversal. We also note that the most recent rising channel has also been broken which added more fuel to the selling...

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A revisit at 1900 is probably not too far away. At current price, gold price is still considered to be near historical high and that's not attractive to investor at all. Although the Fed had signal some reluctance to raise rate further this year, inflation remains stubborn and started picking up the moment the Fed halt its hike. Meanwhile, watch out for...

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After a 65 dollars surged, the price now found itself trapped in a range while finding support at the 1908 region. We are most likely to see a retest of the same support where a rebound will most likely happens again and this can be a short-term trading plan for the time being. If the rebound gains momentum, the price could potentially reach 1958, a scenario...

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The gold has probably bottomed out after tumbling for consecutively 9 trading days. Last Friday, despite a 'much better than forecast' NFP, the price went on to recover all losses and closed with a strong bullish candle, creating an bullish engulfing candlestick pattern right at the bottom of a 6-months bearish channel. The price also manages to close above the...

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After falling for a straight 5 consecutive days last week, the price shows no signs of stopping as it falls into a freefall zone after breaking the major psychological price of 1900. The Bollinger band stays wide opened too with moving averages pointing towards a steep downtrend. It is noted that for over the past 3 years, every time where the gold price fell...

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EURUSD plunged as safe haven demand spiked amid Russia-Ukraine war. The market found support as it fell to an 18-month low and was able to recovered over half the losses. However, the trend is clearly downwards and the current fundamentals are clearly bearish, and the price just gapped down strongly at the market opening for the week. This week, we will...

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Gold rallied last week especially on the last trading day which caused a breakout of the symmetrical triangle. As inflation continues to rise and strengthening the market sentiment of more and bigger rate hikes, the dollar is strengthening yet the gold is even stronger. Since the market has broken out of a 14-month symmetrical triangle, bulls are inevitably...

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EURUSD was going sideways last week until the dollar started to strengthened again on high CPI figures that prompts for a Fed rate hike. The supply level at 1.1480 has caused a strong rejection and more bears are expected in the coming week. This week, we can switch to selling the upwards pullback at around 1.1380, aiming for 1.1280 and followed by 1.1230.

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WTI has climbed for the 7th week and is now trading right at the top of a 15-month rising channel. This could mean the price has topped out but there's no sign of reversal just yet. Therefore, we will continue to follow the trend and look for buying opportunity as price pulls back towards 89.5. However, if the price is able to reach the bottom of the current...

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Gold gained a little last week as it recovered strongly from a drop from the supply level at 1815. The market continued to find support at a rising trendline and is most likely to climb further before another short-term sell off. This week, we will look for buying opportunities, expecting the price to reach 1829 supply level.

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GBPUSD made a strong weekly gain but gave up a portion of it at the end of the week. The drop caused a break in the upside momentum and could cause the market to consolidate first. This week, we will wait for the price to climb a little higher first and look for selling opportunities around 1.3570. We will also be looking for a buying opportunity at 1.3500 when...

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EURUSD made a strong V-shaped recovery throughout the week, the biggest weekly gain in almost 2 years. The move also caused a break-above of a 8-month falling trendline, making a stronger case for more upside in the coming weeks. This week, we expect more correction at the beginning and will be looking for buying opportunities around 1.1380.

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Gold shot through the supply level at 1830 but face resistance at the top of a symmetrical triangle. The recent bullish trend that has lasted for just over a month could be an upward consolidation of the previous bearish wave. This week, we would preferably wait for the price to climb a little higher and look for a selling opportunity.

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GBPUSD seemed to have resumed a bearish trend as the demand level at 1.36 failed to hold. This is also after a break below of a rising trendline while the market is still trending upwards strongly. This week, we will change our focus to sell the pullback, awaiting a pullback towards 1.36 again.

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EURUSD pulled back deeper than expected but still found support at the bottom of a rising channel. While the overall trend is clearly bearish, the 2 months bullish trend still holds and we could expect a stronger rebound from the current demand level towards 1.14. This week, we will look to buy at the beginning while the price is still at the bottom. We may...

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Nasdaq is no doubt in a bull market even though it has ranged for the past 2 months and seems to be breaking lower. However, it has repeatedly create a new wave of rally every times it reaches the black MA, rebounded off, then retest again before it really takes off. As of now, the market has completed a retest and we are seeing a rebound again which may very...