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Hello Traders ,
In this educational post we will be looking at daily chart of gold as on 16 july ,
We can see that moving averages are pointing strongly north which means that bullish strength has not wained yet , but inability to move higher above 1430 has formed a consolidation pattern above 1400 , while we are awaiting for breakout it is expected that we...
Price has been falling for 3 consecutive days now is going to test again multi week long ascending trendline again , from here we can expect price to bounce again towards previous highs , we will be looking for test , support and confirmation before going Long in pair , as in case price manages to break below trendline , then we will be looking at long term sell...
We can see price has already moved lower before news preparing for adverse outcome , but in case average earning surpasses expectation then we are looking at strong upside movement for atleast 100 pips ,
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Price is nearing multidays long descending trendline where it is expected to find resistance and it may pull back towards ascending 4hr trendline which has been supporting its upside movement.
As we can see triangle pattern also , later we will be waiting for break out for confirmation of direction.
In ascending channel ,price is facing little difficulty in moving higher, anyways we will be looking to long this pair from support zone , currently we are awaiting for daily close to see if its red or green candle, in case of green candle we can enter on candle open , in case of red candle we will wait for price correction and buy lower ,
We have been listening to various different types of news these days , Governments trying to block cryptos where as widespread acceptance by businesses , we are looking at more & more businessmen supporting crypto ,
Trumps plan to block crypto is dubbed as '' Feasible but highly unlikely '' by economist.
where as American entrepreneur and vocal crypto...
The GBP/USD pair failed to capitalize on last week's goodish bounce from six-month lows and traded with a mild negative bias through the early European session on Monday .
We can see that pair is still supported by weekly ascending channel , and it is waiting for some good fundamental reasons to move higher , price is also coming very near to ascending trendline...