neliahdenzel

neliahdenzel

July 27, 2022 FED INTEREST RATE -> expecting a rate increase in the range of 50-100 bps in the short term it looking bullish so a rise from monday till tuesday is likely the a reversal at the zone to resume the overall trend

neliahdenzel

Gold has been on the uptrend in the past weeks after breaking one of our zones we are waiting on a price retest before comitting to any trade

neliahdenzel

Direction is not yet set so patients need to exercise

neliahdenzel

judging on past action the possibility of reversal is high eyeing the latest covid news to see which safe haven will flourish

neliahdenzel

potential reversal with the new varianshowing bullish moves for the market safe have currency will lose strength and the macd showing divergence futher supports this therefore taking a buy limit on this trade at the negativ egib level as shown

neliahdenzel

possibility of a trend reversal looks oncoming with a new covid variant investor migh hedge more in gold with an increase in volatility

neliahdenzel

trading strategy within the pitchfork

neliahdenzel

change in the fed stance on interest rate, inflation and job recovery is driving investor to change stance on how price stands i still expect price to fall after 112 to 115 unless some consolidation occurs to support upward trend

neliahdenzel

the trendline on the chart have been respected so it is likely this trend will wontinue so judging by the price action at the trendline entry for trades shall be tabled

neliahdenzel

im still waiting for the inflation to hit with the way us data has shown weakness potential entry points for sell just below 109.40 to 110.20 till june when the us data catches up to the economy

neliahdenzel

still continuing with selling oportunities

neliahdenzel

waiting for us inflation to hit and with oil prices rising the cad is well positioned for long term gains against the dollar

neliahdenzel

currently awaiting to see the price action movement barring any significant changes then the euro should experince a pullback and continue futher gains on the dollar until new interest rates and inflation in the us economy changes. Futher this could change if the Fed increases interest rates to counter the high inflation due to increase of dollars being printed out

neliahdenzel

the same with all usd pair currency we await if the fed will stick to what the said regarding interest rate being kept the same till mid 2022 if the satnd with this approach expect a weakening dollar pushing the pair lower will look at a buying trade on a sgnificant break in the 107.9-107.5 range for entry on the pair

neliahdenzel

same as last time depending on what the fed decide to do with the interest rates we will see either a move to test to moving average 200 or a move towards the -0.236 fibbo but the monthly is showing a hammer so the technical is ready for a retracement to higher levels

neliahdenzel

with the fed choosing not to increase interest rates till mid 2022 and the euro not showing any sign of real strength a neutral approach to eurusd is to be taken on long term trade with rang between 1.12100 to 1.18200 unless europe economy shows strength or the fed increases interest rates i foresee a ranging market

neliahdenzel

waiting for a retestest before going long on the usd cad taking partial profits right after break of resistance line

neliahdenzel

gold is on a pullback i expect the trendline to be respected so as longas it doesnt go close above 1750 this week a possible short position will be entered