Based on chart structure OANDA:EURAUD has created a similar structure from the previous range but this time is on a downtrend, it could be a continuous downtrend from the break after the range or just another set up for a new larger range...will keep updating but i will buy from the purple zones and sell on New res
FX:USOILSPOT has seen a fall since morning likely due to the reaction to the weaker Dollar and IES projection from yesterday that oil will fall significantly, despite all that we still need to look at China which is open for business and also consider Russian OIL Cap. so crucial points 77.560 and above or 72.300 and below to 67.00
With the Chinese Covid Restriction dropped in the far east and leaving China Open for tradethis means the Demand for Oil is more likely to increase whilst the supply i capped due to the Russian Oil embargo last week. High demand Limited supply Price Up....in case of any other news
OANDA:XAUUSD Potential rejection from the 1690 zone then all the way back to 1750. Beyond 1750 we have to look towards 1800s. With the Dollar Strength over the past couple of weeks its only a matter of days before we have this movement. Most USD pairs over sold and the Gold structure showing potential for a new uptrend
OANDA:XAUUSD and CURRENCYCOM:GOLD the descending triangle has been forming for the past couple days. with lower highs and lower lows in play - a clear display of a downtrend I will be entering this position based on price action. Before you enter wait for the volume to pick up on the breakout, then follow the entries but if the volumes dont increase on the...
FX:USOILSPOT Based on Price action we have 3 previous Low points and All from February which can easily make these 3 a good support. the price can easily bounce upwards from these zones but if it breaks towards the downside then 66 will be our next target. I expect the support to at least be touched before we can see another 110 in the next couple weeks
OANDA:EURUSD Based on the news and this week Europe Inflation projections the Euro will continue to weaken and keeps sliding downwards, how ever with the US BOM Q2 coming Monday around 13.30 GMT we might see the US weaken there by causing breakouts to the upside but in overal downtrend