Our prediction played out perfectly yesterday.
We tested 1925 as support and rallied straight to 1935 where we have found high of the day.
During the overnight session, Gold wasn't able to hold the 1925 level and currently is trading at weekly VWAP.
By looking at structure 1925 will play a key role in today's session as well.
If we manage to break it and...
After an initial rejection from the weekly wvap which was our resistance level, Gold held the strength and moved higher.
As we have rallied over 1918 which was a key resistance level and accepted above, we are looking for continuation today to 1925 and 1935 that are higher levels of resistance.
1918 will be once again a key level of support, if we start losing...
As Gold made an attempt to break the resistance we have mentioned in yesterday's analysis but failed to sustain the momentum.
We could have seen the rapid selloff later in the session which continued all the way down to the 1900 area we pointed out yesterday.
The 1900 level will play the key role as a support and if it breaks we can expect continuation...
On Friday we could see Gold testing important resistance at 1918 and selling off from there.
This would have been a bearish sign, but we had a rally in the early London session.
As we are approaching the level of resistance once again, the level is more likely to break.
Therefore we are looking for the upside expansion on the break of 1918 targeting 1925.
Dear Traders, even on a red day, gold managed to hold the 1917-1922 area of resistance during its attempt to test the 50d moving average.
This area, identified by two red horizontal lines, is extremely important as it acted as a support for over one month, and now, after what we can call a "fake breakout" of the descending triangle, the price is back up.
After the big impulse move on Monday, S&P500 broke the daily structure to the upside for the first time since the start of September.
We bounced from 100-DMA with a short-trap, which builds up our idea for a long setup.
The most favorable entry price can be found around the POC of the HVN we are currently trading in, which is around 3244.
If the price reaches...
The price broke the channel downwards. We expect a retest of the channel and of the PoC where the battle between sellers and buyer occurs. Should the downward pressure be confirmed we see the pair to reach the level 137.795
After a month of sideways price action, it is amost time for EURUSD to pick a direction.
Indeed, as we can see, the price will face a compression soon as the ascending trendline and the channel midline are about to meet. This attention area is indicated by the orange triangle. The direction of the breakout will most likely indicate which side of the channel be...
Gold spot seems to be taking a break from its astonishing ride in the last couple of months.
Despite still quoting above the previous all time high of 2011 highlighted with the blue area, at the moment the priority is downwards. Indeed, the price of XAU is currently below the 8daily moving average (which was strongly broken downwards ) and inside...
After the impulse move to the upside, USD/JPY finally showing signs of strength.
Because of that, we can expect a retest of S/R level marked at the chart above.
We have also marked out other key levels that can come to the play in the near future.
Congratulations to all traders who went short with us yesterday. Another success to add to our analysis records. Just as we expected, Dax slipped away from the consolidation range and took a prudent southern direction right after the open. The momentum was rapid and the price pierced through two support levels. If you were aiming our target at 12 592, we...
Euro has been on a strong rally in the last couple of weeks.
Currently, we are in the area of significant resistance and because of that, we might expect some sort of pullback soon.
On the other during the bearish trend of 2018 price moved swiftly lower and wasn't able to build any value, because of that if we break above the current resistance level, we can...
Dax hasn't really gone anywhere yesterday. There was almost no volatility in the market and the situation resembled a calm before the storm. The price was oscillating in the narrow consolidation range below 12 882. The FOMC has supported the price slightly towards the end of the session and Dax closed in positive numbers for the day.
If you take a look at yesterday's price action and our analysis, you will understand how important the S/R level was in relation to the price development and the past price consolidation in the same area. Dax was oscillating there for a few hours in the early morning session, before finally finding its direction. Bears took a lead and broke below the lows of the...
Yesterday's session turned out as expected. The price action truly was slow, if not lazy, and Dax hasn't really gone anywhere. The price oscillated just below 12 882 zone and the daily close was very slightly positive. Is this a good hint for buyers?
Resistance: 13 119, 12 882
Support: 12 592
Statistics for today
Detailed statistics in the ...
We can see a lower volume on the current rally on GBPUSD.
This can be a signal of upcoming pullback.
If the market decides to go back, the POC area will play a significant role in further price movements.
The possible scenarios and key areas are marked out at the chart.
As expected, Friday's session started with a descend towards the S/R zone at 12 882. Bearish traders pushed even lower and the support didn't hold their strengths. The VPOC has also shifted below this zone and this can signify the lack of commitment for further longs and the end of uptrend of the past days.
Resistance: 13 119, 12 882
For yesterday, we expected the retest of 13 235 followed by a possible correction to the downside. Buyers were not able to get all the way to this level as bears took dominance of the market. The whole intraday session was then characterized in a clear directional move to the downside and this lasted till the close. Dax corrected its uptrend of the past days and...