The support is a solid structure that would be expected to hold and drive the price through the near term resistance.
If the structure gives out, there is a compelling case for the downside to retest a more reliable area of demand.
From a 4-hour perspective, Momentum is with the bears, and the price is pressured below the 21-EMA, but an upside correction to retest...
Another ZigZag ABC up to resistance trendline at around 1787 -1806 for complete Daily 4th correction, then will finish 5th at 1640
Buy opportunities next 1705- 1709 (B)
and Sell (138.2%) 1787 - 1806 Target for 5th wave 1640
Gold fails to keep Thursday’s bounce, refreshes intraday low.
Downbeat momentum, extended trading below 200-SMA suggest confirmation of bearish chart pattern is on the way.
100-SMA adds to the downside filters, monthly top offers extra resistance.
Gold drops to the fresh intraday low around $1,726, down 0.05% on a day, during early Friday. In doing so, the yellow...
The EUR/USD pair is consolidating below the 200 DMA, for the second day in a row. The euro hit a new low at 1.1759. The area around 1.1750/60 is a strong support that could help the euro alleviate the bearish pressure. Still, no signs of a correction are seen. According to the 4-hour chart, the risk is skewed to the downside. Still, with RSI...
Gold is currently stuck at a cross-road consisting of a downtrend line from early January and a near-term uptrend line from earlier in the month. The price action since the monthly low has been a choppy grind higher, which hints at the notion that it is a corrective play within the context of a downtrend.
If this is the case, then a move lower should begin soon....
The American dollar eased heading into the weekly close against most major rivals, although retained its dominant strength. US Treasury yields provided support to the greenback, reaching fresh one-year highs. The bond market volatility is expected to continue leading the way this week.
Wall Street closed mixed on Friday, with the DJIA and the S&P reaching...
Gold is seeking higher support, preferably at $1,720 ahead of the upswing toward $1,800.
A technical breakout from the falling wedge flipped the trend bullish.
XAU/USD will fail to reach the potential target if support at $1,720 and the 100 SMA is broken.
Gold is setting up for a colossal move to highs around $1,800. Appears to have flipped from an extended...
Gold has bounced firmly from the $1700 level and are back to flat as the USD pulls back from highs.
The precious metal has mostly traded as a function of USD and higher yields has not hurt it too much.
Spot gold prices have bounced pretty firmly from the $1700 level and are now trading in the $1720s again, where they are back to flat on the day. Gold bulls will be...
EUR/USD is consolidating around the mid-point of Friday’s trade close to 1.1950.
The pair has largely ignored Eurozone fundamentals, conforming instead to US dollar dynamics.
EUR/USD is consolidating around the 1.1950 level as volumes die down ahead of the weekend. That puts the pair around the mid-point of the day’s trading range; EUR/USD started the session in...
The GBP/USD pair trades in the 1.3900 price zone, with a neutral-to-bearish stance in the near-term. The 4-hour chart shows that the pair spent the day hovering around its 20 and 100 SMAs, both lacking directional strength. The pair is now speeding down below them, favoring a bearish extension. The Momentum indicator is piercing its 100 level, while the RSI hovers...
EUR/USD is ending the week in the low 1.1900s, down more than 1.3% on the week.
That means the pair is set for its worst week since October 2020.
Further increases to the euros interest rate disadvantage ensured the single currency struggled against its peers.
EUR/USD has been going sideways over the past few hours in the low 1.1900s. After coming under strong...
DXY accelerates the march north and clinches new yearly highs just above 92.00 the figure on Friday.
The continuation of the uptrend looks likely in the near-term. That said, there is a minor hurdle at 92.46, where sits a Fibo level of the 2020-2021 drop. Further up comes in the always relevant 200-day SMA at 92.93.
A break above the 200-day SMA (92.93) should...
Last week, Gold price already retest low at 80% of C in Daily and Weekly @1686 area.
2 scenarios for Gold in coming weeks: we are still missing one leg in smaller TF (4H)
1. The price will range at 1723 - 1685 for a Flat pattern (Sideways) and make double bottoms and found the bottom at 1685, not making lower low.
2. The price cannot break 1709 (61.8%)...
USDCHF seemed to be finish on wave (iii) super extension, looking for correction small (iv) of 3 soon,
Sell @0.9300 for target @ 0.9000 - 0.8700
Stop loss @ 0.9600
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The price of USDJPY may correction in wave 2 soon, Sell set up @108 for target @107 - 106.5
Stop loss @ 105.500
But overall trend is still bullish which I target at around 109 -109.5
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