What's the trend here? It's tricky. Technically we're still in an uptrend but as the red box shows, we've failed to breach previous highs creating a no trade area just under the daily resistance created from the August highs. Want to see a daily close above the resistance, with target 1 filling that August wick and target 2 the next resistance area. Note for...
Pretty clear trend, as with most pairs at the moment. Should keep the descending channel, don't expect any massive dollar pullback until we reach that daily support. If the dollar does go green, NZDUSD should be the faller.
Daily close either way and we see some big swing moves with Brexit.
I'm actually bearish for the first time in 2 months on this pair now we've broken the weekly support. Looking for the retest and continuation of the channel structure.
Keep an eye on this potential weekly Double Top and how price action forms Thursday. It may be we see bullishness Monday/Tuesday before a wick takeout on the higher timeframes.
Could Nas have formed a double bottom here? Break back above the daily resistance confirms!
In theory, we've finished wave 5 of the Eliot wave and also formed an ending diagonal which usually transfers into bullish price action. However, given the Dollars ropiness over the past few weeks, breaks of the resistance or support will determine our bias.
I'm still bullish, with both technicals and fundamentals showing EG should retest the previous high created. Don't jump in now, wait for the pullback zones. Bearish ideas only valid with break below 50% fib area and break of channel.
Clear downtrend, clear Head and shoulders, clear daily resistance. 3 strong confluences for selling, add that to the fact the FDA approved the vaccine on Saturday AM and we should see a bearish week for gold especially with no stimulus in sight until 2021!
Same here, apart from we previously failed to sustain the breakout earlier in the week with strong Canadian fundamentals. This time, however, the support has held!
Now we've broke the daily resistance, and seen the retest hold on Friday, longs look very good!
Multiple confirmations: Daily ascending channel trend line touch Daily swing 38.2% Fib area Daily support 4hr 200ema 1hr Double Bottom
Only 1 way the dollar is going and that's down folks. Possibility for a slight correction to the previous lows
1hr timeframe, break either way gives you around a 1:4. I'd personally take 1% risk on the initial candle closure above, and save 1% incase of a retest and get a better RR.
Clear descending channel here on gold. 1850 area represents a very strong area of interest and how price reacts there will give great swing trades in either direction