GBPUSD closes above strong support signaling reversal. Price has bounced on the monthly support, RSI bullish divergence on the Daily timeframe, and the fact that the price has closed above the support forming a reversal candlestick on the weekly timeframe, all suggest bullish movement in the coming week. It's recommended to enter on buys at the current support...
Gold rallied bullishly as predicted and hit the first resistance zone from where the price experienced sideways movement. We might get a drop to the weekly pivot before the price gathers bullish momentum to continue rising towards the retracement target of 1917.
Last week Nasdaq tested the support and bounced bullishly attempting to recover. The price dropped back to the support but could not close below it. The price rejections on the support, rsi bullish divergence, and double bottom indicate a bullish move in the coming week. Initial targets are 12600 and 13150.
CADCHF touched the resistance and dropped as predicted hitting both targets. The price might continue dropping towards the pivot from where we can expect a retracement.
In my previous analysis, the price dropped reaching the first target then bounced bullishly to the broken support. A break below 88.900 will resume the bearish move towards the next target at 85.7.
USDJPY formed a good reversal pattern (h&s) and last week dropped to the neckline of the right shoulder. I'm expecting the price to gather bearish momentum this week to break the neckline and head towards the monthly support at 124.4.
GBPUSD has formed an inverted head n shoulder pattern indicating a bullish retracement is happening. The Retracement target is the broken support turned resistance.
The pair bounced on the support as predicted and hit the first retracement target. We might get a push down before resuming the bullish retracement towards 32820.
GOLD dropped nicely as predicted and is approaching the final target of 1780. Once the price hits the support level we might see a rebound towards the 1850 level initially.
The pair has been on a massive bull run for the past few weeks but is approaching a strong resistance level which will prompt a pullback. RSI is overbought on the daily and weekly timeframe, so it's best to wait for rejection and reversal confirmations on the resistance level before capitalizing on the pullback. Keep an eye on the pair once it approaches the resistance.
The price is approaching my extended target from the previous analysis which also happens to be the monthly support. Am expecting a bullish bounce with initial retracement levels at 32000 and 32650
AUDCHF has been stuck on a range for several weeks. The price recently rejected the weekly support strongly and is approaching the pivot point. Expect a small pullback before resuming the rise towards resistance level 0.70200.
EURJPY dropped exactly as predicted in my previous analysis and attempted to rebound positively on the support level. The retracement is still not complete and I'm expecting the price to continue dropping to 131.3 which is the 50% retracement level and monthly support.
USDCHF has been on a massive buy for the past month rising to hit highs last seen in 2019. The pair is displaying similar dynamics to CADCHF with both approaching strong monthly resistances. Both pairs present great selling opportunities so watch out for price rejections on the resistance before going short.
CADJPY is forming a head and shoulder pattern on the daily timeframe. The price is on a short-term retracement to the trendline which also happens to be the monthly pivot hinting at the continuation of the downtrend. Monitor the price for reversal confirmation on the trendline with initial targets at 98.80 and 97.35.
Uk Oil made a steep drop to the support level / trendline and then made a double bottom with bullish divergence. Based on the above we can expect the price to gather bullish momentum this week to clear 112.7 and achieve 116.30 initially.
Gold settles below the 1865 level which was crucial in confirming the direction for this week. Expect bearish movement towards 1821 initially.
Audjpy has experienced strong bullish momentum for the past few months and has hit highs last seen in 2015. Price recently bounced off the monthly resistance, it's overbought on the weekly timeframe with bearish divergence on the daily timeframe, all these indicating a strong pullback may happen in May. Based on the Fibonacci retracement tool, the first target...