The price of gold is currently making a double top support and resistance between 1808.60/1843.31.
Especially since the price is close to a bearish oblique resistance located at the level of 1855, we are therefore back in the selling area which is still preferred.
The target of the double top would be 1773.49 or less than -34.91 points (-1.93%) and...
After disappointing NFP reports the price of gold rose to 1845, which in turn weakened the US dollar by correlation effect.
On the technical side we are currently on a large horizontal resistance at 1855 and an oblique resistance which constitutes the top of the channel.
Despite weak NFP figures for the month of May, the price remains globally in a bearish...
Daily Gold Analysis
Since the beginning of August, we have been in a short-term downtrend represented by the white channel. The price is close to its support at 1815 and could break it again to hit 1770 (take profit 1) however the 1770 represents a huge support area where the price could rebound. If this is not the case the price could suddenly reach 1735 (take...
The price is currently making us a bear flag since April 30 it is a sell signal.
The primary and major objective will be the oblique support at the 10 440 level however the oblique support is used to form an ascending triangle therefore the oblique support will be crucial for the rest of the analysis.
Scenario 1: The price bounces on the trend line and the...
We have a beautiful configuration being formed, for the moment it is still better to remain spectator ... The 10 300 remains a huge support to break, the 10 170 remains the major support to form the second shoulder, in the Optical that the configuration is validated, the objective will be the GAP from April 3 to 6, 2020.
We have a nice configuration on the USD/CAD pair we have a nice chartist triangle descending figure.
The sale conditions are ideal with a ratio/risk of 5.92.
Due to the economic conditions related to oil, we are very fortunate that the Canadian dollar will appreciate in value.
We have a bullish pennant for the monthly analysis of USD/JPY, a secondary downtrend on a principal uptrend.
An output from above is likely to continue its uptrend.
I will buy above the oblique resistance with these objectives :
113.700 / 116.900 / 120.000