This is the influence of bad economic result from this week. I also see the right shoulder lower than the left shoulder and clearly negative trend for this currency pair so far. The price will drop to neck line. Maybe this price fall slow dawn positive result from JOLTS Job Openings (in monday) but it can not stop it. When the price touch neck line we must wait....
If you look at the bigger picture, we shall see that gold is in a negative trend / decline from the first line of resistance to the price @ 1180.00 usd.
First target and our TP @ 1200.00 usd
Another target and our TP @ 1900.00 usd
One part of the answer goes where the currency pair USD JPY've already given on the chart.
Why technical analysis on the 1M chart?
Because we need a broader picture of the movements of the currency pair, simply.
Of course I trade in small time frame, including: 1H, 4H.
If you do not have 10 000 USD on your trading...
On the chart we can notice a nice upward trend.
Recommendation definitely BUY the price, @ 1280.00
Where should to close your open positions.
And then we wait for development of the situation.
Generally gold is in a long-term downward trend, and therefore caution is recommended.
My views for the chart!
In the long term this currency pair is up trend. But I think here in this area between the two blue lines is a trend reversal down.
This is also the area where the trend lines intersect, as you can see on the chart, and where there is a saturation of the market.
As you can see we have a strong line of resistance.
Confirmation of this...
On the chart we can see the slowly forming your right shoulder, which indicates that there will be a long-term the fall.
The recommendation is BUY.
My guess is that prices will go up to cover up to 3% of current levels.
I marked on the chart.
Our recommendation is TP the price @ 1380.00 .
Then we will wait for the development of the situation,...
In any case, shortly BUY.
As you can to conclude from a chart we will certainly short up trend. Area shopping is marked, and it is my recommendation.
When AUDJPY growing out of the wedge, it is best to wait for further developments, and to see whether currency pair to break the line of resistance.
If we get confirmed breakout, then again my...
The Big Picture
For some time the trend is moving Sideways, which gives us a great opportunity for predicting movement.
In the short term the price will fall down.
Confirmation of drop value we found in a very characteristic shape Doji candle which was formed at the end of the day. For this reason, open the SELL orders.
Sell Stop Orders:
From this chart, we can conclude that many traders have lost their money, but of course we will not because we are willing to wait for a good opportunity to make money.
When we look at the long term we see that this is a growing uptrend.
Your future targets and TP you can set yourself.
In any case, short SELL.
I would like to ask visitors...
If you follow my analysis, and use them for your trading in the stock market, you will certainly satisfied.
We also invite you to tell us your opinion by clicking on agree or disagree.
Long term forecast
Here we have a nice UPward trend.
The trend is our friend, and for that reason are we going to open Buy position.
Opening pending orders
Buy Stop at price @...
If you rush with trade there is always possibility to lose your money.
For that reason we will have to wait development of the events in the coming days.
In any case, the long-term BUY
On the chart we can see a nice upward triangle for a long time.
As I mentioned definitely prefer the position of long-term BUY
Short Term Review:
After the fall of the currency pair AUDUSD will recover.
The main indicator of this change is the double bottom that we see on this chart.
Recommendations for all who trade with the currency pair BUY LONG.
First target- short BUY @ 0.94810
The second target- BUY @ 0.95285
The next target-BUY @ 0.95827
My assumption is that the currency pair that moves and...
SHORT SELL first target : 1.54530
Then wait to see if the pair break the resistance line at 1.54520.
If GBPUSD not break the line of resistance, we will have a strong Up Bullish trend.
In this case, the pair will go up to the line of resistance.
If the pair does not break the line of resistance at the price of 1.57189 the pair will...