The GBP/USD pair is currently testing a strong Trend-Support. BOE's announcement was not entirely clear and might have lead to irrational fear and an underpricing of the currency! Watch for economic news from Britain this weekend and next week. GBP is supposed to bounce up as several interest rates hikes were announced. However, if the economic outlook happens...
Gold has hit the 1322 resistance as I announced it in my previous short recommandation. The resistance and the bat pattern make it a good LONG ! Trade canceled at 1318.
Gold just hit the upper limit of a strong parallel channel. This trade is simple and clean. Canceled if price breaks above 1358. Target set at 1322. fundamentals : -Watch for Fed's Beige Book today (it will set the trend of the USD for today). Fairly good news is expected and should support the USD and put downward pressure on gold - SHORT-TIME ONLY...
If price reaches channel's upper limit, we have a potential short around $1352. Conservative targe t at 1322 where there was a double bottom. Aggressive target at 1306 where there is a strong support Fundamentals - Trade war worries are easing, gold should lose value (less "safe haven" investment). BUT watch for geopolitical tension with Syria and...
We have a nice head and shoulders on gold and prices that are breaking the 1341.18 support. Good Short.
In addition to my previous idea: We have a bearish channel on gold, price is close to the upper limit, and we have a strong bearish cypher. This is definitely a short . Convergence of these indicators makes this trade fairly safe. Fundamentals - Watch for FOMC news and US Consumer confidence index publication during the week - These could impact the U.S dollar....
After big pump in GOLD price. There is formation of a triple descending top. Price should rice around 1356 and reverse into a bearsih trend to lower trend line. !!! Trade canceled if price breaks triple top line !!!!
Clear flag pattern on the 1h chart. ! Trade canceled if price breaks below the low flag-limitation !
As the U.S threaten China over trade war (which is one of the biggest concerns at the moment), the market could go bearish. Plus, technicals show a channel break. ! Price might retest the channel lower limit.
Watch the DAX30,depending on Trump administration decision on Trade War; price might bounce back in reversal zone. However, if fundamentals are negative and price breaks bellow support, that would be a very bearish signal.
Bloomberg stated that 1/3 of investors are expecting announcement of 4 rate hikes instead of 3 for the upcoming year. Therefore, markets may be a bit overpriced, in the case of 3 hikers. IF only 3 rates hikes are announced, we can expect a bearish US dollar. Trend confirmed when price will break the channel, multiple strong supports to watch for, depending...
Short opportunity if price breaks the channel. Target at supports.
Aggressive - Short opportunity on short-term, until price bounces on support. Conservative - Long possibility when price bounces on short-term support or long-term uptrend channel.
TVC:GOLD Long.. Trade not valid if price break below support. First target at descending short-term trend line, second target at resistance line around 1356. If price breaks neck line, potential target at the long term ascending trend (see daily chart).