Time to buy Gold? My view Gold hasn't reached the support. I still expect price to drop a bit more and meet the support. From there we will make decision where price will go. A bounce up from the support, Gold will go up. If the support doesn't stand this time and Gold breaks to the downside, we will see a very strong bearish reaction and move to the downside,...
If USDJPY bounce off from the resistance, I expect price to still fall to the support area. A break above the resistance, then price will be pushed further up.
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Gold has broken the minor support and now should extend down to the major support of the bullish flag, one can say the descending channel. From the I expect Gold to climb higher to the resistance of this channel.
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Locking in over 80 pips after my previous prediction. This GBPUSD should see the moon if the previous HH is completely violated.
Feel free to see my previous analysis on GBPUSD via the link below.
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Not the time to short GBPJPY!!!
Possibilities are that it will continue to extend up to the intersection of the strong horizontal resistance and the resistance of the rising channel that kept it in an uptrend for a while.
Entry around 148.82
Stop loss at 149.902
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Previously, I predicted that price will rise to resistance area of the ascending channel. Now price is at resistance area, I have a feeling that this area will still stand and push price down to the support area.
What are your thoughts?
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