Due to increasing geopolitical tension in the Middle East region, I believe that price oil will go higher in the following days (especially if tensions between Iran and the USA continue to escalate.
Apart from geopolitical situation, price also bounced from fibonacci level.
The end of 2018 and January of 2019 was marked by a huge appreciation in the gold price. Afterward, we saw a three-month-long pullback ( which hit 38.2% Fibonacci retracement) and now it finally seems like gold is making a move again.
Don't forget that gold also broke its resistance line today (blue line) and formed the double bottom (marked by a blue rectangle)....
After hitting resistance, the price is preparing to slide downwards. If we get a break below entry point then I will be short this pair until 1.111 level.
After wild first half of august 2018, turkish lira halted it`s decline. But now it seems, that trend will re-establish itself and lira depreciation will continue. I will personally wait for a reasonable decline, before entering any positions.
We have seen a huge downside move in past month, which suggests, that there may be place for further downtrend. I would, ideally, like to see a small pullback (to get an easy entry) and then a continiuation to the downside.
A few days ago I posted short setup for this pair. Circumstances have since changed and I now look for upwards movement. If we get strong close above entry level, then I believe that an uptrend is is on its way
After hitting marked resistance level, price started consolidating and pointing towards downside.
I would expect some sort of pullback before entering this trend, but I would not enter before we get close below 50 moving average and black line.
