silver price are down since may fomc now price heading towards a key support level 22.246 you have one trendline, horizontal support and fib zone - total three types of support at the same time
oil price are coming down since biden selling their SPR and price has made new lower low after abcde triangle correction breakout on fear of recession in economic super power usa but new temporary QE has given full fuel to fed pivot if price makes bottom at $65 and break about $93 than it will be stagflation 2.0 low growth and high inflation
euro dollar is coming down since dollar has been strong price is making lower low with lower high a perfect down trend until it ends price action has also made falling wedge chart pattern now testing lower white trendline with hammer candle stick today fed speech big news
first it made rising wedge pattern now it is making triple top trendline it all depends on fed and boj if it breakout to upside then buy retest target 150 or sell third retest of trend near big daily resistance near 145
eurusd is coming down since dollar is strong but it is now again testing a strong trendline if trendline holds again as support than it can make new high or if trend line breaks than after retest big drop is coming
every time usdjpy goes near 145 boj do intervene and this pairs goes down they did this last year , did again in july BoJ do it again or not ? if boj did nothing than this pairs can go upto 150 if BoJ did something than it will go back to 137 but it all depends on news full confusion, two side prediction - best way to stay away beginner trader from forex
on fear of more rate hike after re acceleration of cpi hawkish fed risk is killing investor gold demand once again today traders are waiting for fed fomc minutes price action trader has perfect trend line
gold price are going down since beginning of the month now it has made two channel small once is already breakout now price heading towards boundary of next one
gold price are again sideway between 1980 and 1930 level technically it has made inverted head and shoulders pattern but market moves on fundamentals so it waiting for ISM PMI today than NFP tomorrow 1930 support and 1980 resistance above two news will decide where price will go next if support 1930 breaks than gold is dead if holds than welcome to stagflation
👉gold price made all time high in beginning of last month may 👉since its high in may near 2080 it is constantly coming down because us economic data is beat the expectation of recession. reason why fed forecasting two more hike each week since june fomc 👉if price breaks below yellow line than it will breakdown to 1807 vertically on investor losing hope in gold...
price is sideways and waiting for breakout 👉since market is expecting in soft landing while aggressive rate hike since volcker says hard landing 👉hard landing bearish for oil 👉geo politics and soft landing bullish because of above reason since macro investor are confused hence oil is sideways until we got news to trigger one side sentiment nothing will happen
gold price in February collapsed from 1959 than it went up vertically after SVB collapse and fed not QE now price is again testing that level 1959 as support level while retailer traders were buying in fomo that gold will go above 2100 after recent fomc members comments June rate hike chance are again increasing if fed don't support one more hike tomorrow than...
price is making sideway correction below 137 horizontal resistance and above white trendline breakout retest repeat
rsi was highly overbought and now it back to normal level after 12345 wave price has made abc correction with 0.382 retracement this macro trend for gold is super bullish it is ready to breakout its 2070 multi year resistance $2000 is a huge phycological level so profit taking here is very reasonable since macro is big bull on gold so may be it don't hit 0.618...
gold price made bottom on November fomc 75bs hike than top on February 25bps hike that abc trend has made correction and fed is heading towards rate pause than inevitable rate cut into 2023 speculation start which will push gold higher above $2000 buy the rumor - fed will cut rate in 2023 which has no possibility after fed recent comments this week sell the...
price is trading in a sideway range between two horizontal support and resistance
price are making lower low with lower highs inside white chart pattern before again tasting lower trend line again price is making double bottom at current price before nfp
price first dropped vertical in wave A than it made flag correction patter in wave B than it made C ending diagonal pattern after cpi and other economic indicators while top was made after fomc meeting when fed said deflation has been started and inflation will drop very quickly but despite those less hawkish comments gold dropped which you can say insider...