If the dollar is going down then gold is going higher. Gold looks like its ready to go back up. Right now the yellow metal is forming a pennant or flag. That looks to be a continuation pattern once it breaks out to the upside. Silver on the other hand has parted ways with Gold showing much more weakness and should be assessed differently.
Bullish channel breakout is still valid from previous analysis. We might see a drop further down to 96.00 after the bullish correction is completed. Areas of intrest that might trigger the drop are the head and shoulders neckline and the 61.8 fib level which aligns with a resistance trendline.
Uber might be preparing to soar. It looks to be trading above resistance giving a bullish bias.
Price has broken out of the rising channel and is signalling a short bias. Price is currently retesting a broken structure level which might serve as resistance. Price might drop to next key level indicated by the arrow.
Price is currently holding support at a key flip zone that has served as support and resistance in the past. Price is however still consolidating within a triangle pattern. If we get good price action we might see a rise to the resistance zones marked in the distant future. The TDI indicates a bullish bias but we might see consolidation as price is near the 50 level.
USDZAR is trading within a triangle pattern and has been trading down into a strong support zone. We could anticipate a bullish reaction from this zone and look for long setups once confirmed however, if price breaks lower we might see a drop in price to weekly lows on trendline support. Price is yet to make a significant lower low so bias is still bullish.
After a very huge drop we now see a double bottom formation with RSI divergence. This suggests price might correct to the upside before pushing lower.
Price has broken structure and started trading to the downside with high momentum. Price might correct once it finds support which might give opportunity for a pullback entry short with a tight stop.
Kiwi has been holding a lot of strenth lately but is approaching an area that might be holding a lot of seller interest. The resistance trendline + the flipzone trendline which will be retested and the 61.8 fib level from the last swing high to low. We'll wait for early signs of bears taking control before looking to initiate a short trade.
Price has made a clear break of the resistance zone and has now come back down to test this level. The question now is is this a bullish continuation signal or is price looking to trap some buyer interest before dropping? The strong rejection on the daily timeframe we see suggests a drop might be near. After catching early entry stops from last week we might just...
Price ran into resistance at 7923.8 after the initial breakout and has come back to retest the level as support. We are also seeing rejection of the 61.8 fib level which might suggest a push higher to channel highs and the 127 extension. I'd wait a few more candles to confirm this first.
A low risk buy opportunity might present itself if Gold pulls back close to 61.8 from the leg that broke trendline structure, targeting 1500's.
Price broke key resistance on the 15th of October and as of recently we can see very slow accumulation which my result in an explosive push to the upside. The next most significant level being the monthly zone indicated.
USDJPY could still trade higher but we might see bulls wearing out near 110's. The strong resistance trendline and the monthly resistance zone might hold price and possibly result in a reversal. Bearish bias might be subjected to change if price breaks the trendline. But until then a short opportunity could be near.
Once gold broke through the neckline of the head and shoulders pattern, it looked like it would take off. Instead, the yellow metal has run into massive resistance with a key reversal. We might get a retest of the $1400 breakout area which aligns with the 61.8 fib level before we can assess whether it will skyrocket again or trade lower.
We might see a stop hunt to the highs next week as a lot of retail selling interest has accumulated. From there we might see the roll over with a break of structure and retest before a further drop.
That the DXY can be compared to NASDAQ and FACEBOOK in its behavior is utterly alarming, it means nothing else but that the value of the USD is speculative, which we all already understand it is. That the stock markets are going strong despite the industries slowing down is an indication of what will happen when the speculation no longer can hold its positions....
Price is in a clear correction/uptrend phase depending on your analysis after a very large and continuous drop. The price structure has formed an incomplete head and shoulders which isn't signalling a bullish reversal but rather a bearish continuation. This signals a cautious short bias until the price structure makes a new swing high above the head.