Gold is continuing is consolidation, but, in a weak USD context, it doesn't have the power to rise, not even to at least 1885 resistance.
In this situation I expect gold to fall hard at the first sign of USD strengs.
I'm looking to short it and I believe it will drop under 1850 and accelerate its losses to 1800 if we have a daily close under this important support
Nzd was, in the last weeks, the strongest currency.
Now, NzdUsd seems to have lost steam and is ready for a correction
We can see a clear rising wedge on H1, and once this is confirmed the pair could drop to 0.68 zone
I'm looking to sell
Gold spend last week in a 300 pips range between 1885 and 1855 and Friday's close found it just in the middle of this range at 1870.
Next week could clarify things with a break above 1885 signaling that the correction is over and the price is ready to resume its long term trend or a break below that could bring more losses for the yellow metal.
EurUsd spent all week consolidating just below 1.19.
An attempt to dive under 1.18 on Thursday encounter strong bids and the price quickly recovered.
I'm bullish on this pair as long as the price stays above 1.18 on a daily close basis and I expect a break above 1.19
My target is 1.2 on medium-term
For 3 months now, DXY is trading in a range between 92 zone support and 94.50 zone resistance.
Although the 92 support has not been broken yet, USD seems very weak with all rallies being very well caped by bears.
I believe that this support will fall eventually and USD will spiral down to 88 support.
In this context AUD, NZD, GBP, and EUR should be bought against...
AudUsd is consolidating in a very tight range for two weeks now. The pair is very well bided and every drop under 0.73 is bought by bulls.
I believe we will assist on upbreak for this pair and 0.75 seems reachable till year's end.
Buy dips under 0.73 is my strategy for this pair
Since the March low, NzdChf traded upwards and now is trading above 0.63 resistance
More important is that the pair seems to press on short term resistance and a break looks imminent.
In this case, the pair have a clear road to 0.65 zone
The medium-term trend is clearly bullish now and only a drop and close under 0.62 would alter this
Since August, EurCad is trading in a down trend.
The recent leg up seems to be finished and also on a 4h TF we can see a H&S formation
A drop under neckline support could lead to acceleration and a test of previous recent low.
I'm looking to sell this pair
Two days ago I was speaking about 1.6150 support and that EurAud can correct towards 1.65. This didn't happen, MORE, the pair had a false break above the triangle's resistance and now is trading just in pattern's support.
With Eur "not feeling good" at all and AUD being very strong a break under this support followed by a break under 1.62 can lead to the...
As I said in my previous analyzes, GbpUsd could continue its rally and challenge 1.35 in the medium term.
Now the pair found a short-term resistance at 1.33 zone but it seems like is pressing on this resistance and a break could occur soon.
To maintain its bullish bias the pair needs to stay above 1.32 on a daily close bases and buy dips towards this support could...
I said multiple times recently that I believe Gold will break 1850 support and can drop even to 1750 zone.
Yesterday, Gold visited 1850 zone and, as it was normal, a rebound occurred.
The rally is anemic though and, on the very short-term chart, we can see Gold putting in a rising wedge correctional type structure.
I'm out for now, but I will look for...
Although the price of Oil remains elevated, it doesn't convince me...
Rises are very well capped around 42.50-43 zone and I expect the price to tumble sooner or later.
A daily close under 41 would be the signal for bears and, considering the economic outlook, 35usd/Baril would not surprise me at all
After finding a bottom in the important 1.6150 zone support, EurAud rebounded around 200 pips.
Now the pair is trading in a congestion range forming a symmetrical triangle and, although triangles are a continuation pattern, I expect the break to be on the upside in this case.
1.63 is the zone that should be conquered by bulls and a daily close above would...
After finding local support in 121.50 zone, EurJpy rose quickly to 125 resistance where it found strong asks.
Now the pair is correcting this up move and is near 122.50 important support.
I favor long trades and a buy trade in this zone can have a more than 1:2 R:R
For now, DXY is trading above 92 important support, and although this is an important support USD looks very weak overall.
The price seems to press on this support and we can assist a break soon.
That being said USD is bearish on medium-term and only a break and sustained buying power above 93 would shift things in bulls favor.
Yesterday Gold tried to pass 1880 but bears quickly took control and NY close found the price slightly above 1870.
Today the precious metal continues its descend and is trading at 1867 at the time of writing.
Things look pretty clear now with 1880-1885 resistance and 1850 support.
Sellers hold the upper hand now and 1880 should be sold with 1850 target.
Usd is weak and ignoring Eu lockdown and problems EurUsd is rising without any problems.
After reversing from 1.1750 support the signed currency put in a new support and higher low above 1.18 and now is trading under 1.19 resistance and important figure.
A break above 1.19 looks imminent and EurUsd could challenge 1.2 again.
As long as the pair is above 1.1820 I'm...
Yesterday I've spoken about maintaining my bearish bias on Gold and, after a boring consolidation and very tight range, XauUsd broke under 1885 short term support.
The medium-term trend is clearly down for the yellow metal and I expect the drop to continue and gain some power.
Now 1885-1890 is resistance and rallies in that zone should be sold.
My target for Gold...