We once again bring you a possible opportunity to bank some pips !!
This time the pais is XAUUSD , wich at the moment is at a very strong Resistance since 2016.
At the 1D chart we can already see a Doji candle, wich can indicate the reversal we are looking for, however i recomendo to wait for confirmation before entering.
Better be safe than...
Start of the week, and we are expecting to get a a rise of the price in this pair.
We have two very strong Stress zones defined where the price have been bouncing.
The price will respect this zones for a while, and if we see a break to to the upside, we could enter in a long position with a Risk Reward ratio of 4.3 , However we have to wait for a confirmation...
JPY pairs have been bearish in the past days, but here, we saw the price rejecting a very strong stress zone.
We expect the price to go up again, however, we need get confirmation with a breakout in shorter time frames (4 h and 1h).
If we see a rejection we can bank some pips with a ratio of 3.5
Trade with caution,
This pair has been very weak in the past days, but at this moment, it is at a major daily and weekly support.
Let's wait for the reversal with some clean reversal candles before we enter.
Look for entry in shorter time frames.