GbpUsd is rising since the beginning of the month.
However, the rise is in a corrective manner and has no impulse
1.39 should provide strong resistance and rallies towards that zone could be sold.
1.3650-1.36 is now strong support
In spite of a bad NFP, Gold couldn t manage to keep gains and reversed from 1780 resistance on Friday.
This, in my opinion, is a bad sign and we can expect further losses for the yellow metal
Rallies towards should be sold and 1720 can be swing trader's target
Interim support is 1740
From the beginning of October, Link is consolidating in a range.
25 is acting like clear and strong support, and as long as the price stays above this support bulls hold the upper hand
A break above 28 would confirm this bullish outlook and will open the door for 32 resistance
As normal, after the strong run-up from 48 to 55k, Bitcoin corrected.
However, the correction was "light" and didn't even touched 43k support, reversed from above, indicating that bulls are very impatient and giving us a strong buy signal.
At this moment, BtcUsd is trading back above 55k and I believe we will have a new strong run to the upside.
The first target...
For a month now NzdCad is in a downtrend. However, the pair is approaching a great support zone and a buy trade in this zone can have a 1:3 R:R for swing traders
Buy dips under 0.87 can be a good idea and a dive under 0.86 would negate this scenario
After breaking above range's resistance and marking a new local high above 112, UsdJpy corrected and has confirmed the old resistance zone as support.
A new leg up followed and a new correction, just to mark a higher low and make 111.20 support.
At this moment the pair is trading just in short-term resistance given by last high and a break here can lead to...
As I said yesterday, Gold is trading in a range that has become annoying. Today is NFP, and this can give us direction.
From a technical perspective, the structure remains bullish, and this rectangle should lead to continuation to the upside.
The resistance starts above 1780 and extends to 1800 and this zone can offer bulls the target for their trades.
What has started like a healthy and meaningful correction, has proven to be an anemic not even 10% drop for SP500.
The index found strong support at this moment in 4300 zone and as long as this area is intact we can see it challenge the all-time high in the next trading sessions.
I will look to buy dips in search of a good R:R for my trade
In mid-August, AudUsd started to rise and correct the down move, and at the beginning of September, a new leg down took place.
However, this new leg down couldn't make a new low, but a higher low instead which puts under question the medium-term downtrend.
The last breakdown has proven to be a false one and AudUsd quickly recovered losses.
At this point, the chart...
EurChf has changed its long term trend from bearish to bullish in May 2020 and the pair has risen 600 pips from that low to March 2021 high and this is a lot for this quiet pair.
From that top, a correction has started and the pair fell 400 pips.
At this moment EurChf is trading near a very strong support zone and a reversal is very probable.
I'm looking to buy
There is a week now since Gold is fooling around in a (more or less) 100 pips range.
My bullish bias isn't changed ( at least for now), but the incapacity to stay above 1760 and have a decisive break of this zone is starting to annoy me.
From a technical perspective, as I said, we have a 100+ pips range with clear support under 1750 and resistance above...
After breaking above 3150 confluence resistance, EthUsd has risen more than 10% and has riched 3500 important zone
The last leg up is without much power and the new recent high is marginal, and this can mean a correction could follow.
The price back under 3450 would signal the start of this correction and EthUsd can drop to 3150, now support
There are already 5 trading days since Gold is trading in a tight range with clear support around 1750 and resistance in 1765 zone.
Considering the Pin Bar reversal on the weekly chart (last week) the odds are in bulls favour and a sustained break above 1765 would expose 1780 zone resistance.
This scenario is valid as long as the price stays above support.
As I said in my previous Silver analysis, as long as the price stays above 22.20 support, bulls hold the upper hand.
At this moment, on H1 chart and smaller time frames, we can see a small pennant forming which can lead to continuation.
The confirmation comes with the price above 22.65-22.70 zone and the parget can be 23.50
I'm bearish EurUsd since the beginning of September when the pair was trading at 1.19 and was arguing at that time that in the medium-term we can have a fall to 1.14 zone support.
Since then, the pair has dropped 300 pips and now looks ready for continuation to the downside.
In my opinion EurUsd is strongly bearish under 1.17 and bears can look to sell rallies
After the recent 0.7170 low, AudUsd has started to correct.
The rise is contained in a clear flag formation and I expect a breakdown soon.
That being said, in my opinion, rallies close to 0.73 should be sold and 0.7170 low can be bears target
0.7225 is interim support
Since June 1.42 high, GbpUsd is in a clear downtrend.
The pair broke under support last week, and after a local low at 1.34 is correcting
At this moment GbpUsd is facing strong resistance and a fall could follow
The bearish scenario is negated only if the pair manages to break above 1.3750