nick.trader4

Gold has been rising a lot due to weaker USD and scandals involving the Trump family (again). It broke through the resistance zones at 1240 and 1250. Looking for a retest of those zones to buy again seems like a good plan, the 1250 zone has a lot of confluences that would support a buy position. The fed has a meeting mid week and though it seems clear now that ...

GBP JPY has been falling as USD has been falling (GU up x UJ down = GJ Down). It rejected a major monthly/weekly zone with a double top pattern and shattered the previous upward trend line support early last week and has been dropping since. I expect more downside to hit the daily demand zone then maybe consolidate between these 2 major zones plotted until price ...

USD is falling so UJ has dropped the past week and is nearing a supply zone on the daily. I expect some buyers to come into the market and sellers to unload some positions at these prices causing a retracement and a test of the downward trendline. More direction will be determined upon price action with this TL. Keep it simple.

Using the previous week analysis on the 4hr timeframe to confluence USDJPY weekly analysis we see that weaker dollar caused by fundamental remarks/issues and bad economic data Gold broke its trend and looks to be starting a run of higher highs and higher lows. This can be confirmed by the inverted head and shoulders pattern better seen on the daily, also a ...

Last week the pound broke 1.30 nicely and closed at 1.31 taking it to new 2017 highs. This recent uptrend in cable has brought gbpjpy to a strong daily resistance after a big move on Friday making a higher low and higher high. I expect the resistance zone at 147.750 to be tested and possibly broken if the pounds strength can continue. I wouldn't be looking to go ...

My previous analysis called for USD long last week but this week it looks like we can change from bull to bear after last week price action, economic data and statements made by Fed chair Janet Yellen during two testimonies before congress we can say that we have a weaker dollar for now. Price rejected major resistance at 114.500 early in the week and has been ...

Gold has been falling as USD has been gaining strength over the past month or so. We've broken through some major levels with momentum including a strong bullish trendline that has been acting as a support for all of 2017 thus far. It looks as though the next 6 months of this year could be well different than the first 6 months that started 2017. If US economic ...

After a positive NFP report last friday USD turned up on confirmation of Yellen's previous hawkishness and indication that the economy is progressing. This week it seems like more of the same. We broke through a bearish trendline to expect more upside. We could see a pull back to retest this trendline/support but there seems to be a nice supply zone around the ...

Gold has been stuck in this consolidation zone between 1241-1257. A strong upward trendline is starting to intersect with this consolidation zone which would allow gold to take some direction further down or a bounce to start rising in price. Fundamentally USD has been weakening against most currencies and its possible that it could fall further. The heavily ...

First thing I'm going to be looking at come next week. Will we be confirming a head and shoulders reversal pattern after yesterdays rejection of a strong daily resistance? There is a resistance zone from about 112.425- 112.625 which looks like it will be tested based on the most recent 4hr candle closes. Awaiting P.A in this zone to confirm rejection or ...

Couple scenarios to consider here depending on the tone and remarks made by Yellen regarding monetary policy. Currently USD has been moving up but the move will only continue if Fed chair Yellen reinforces her comments made 2 weeks ago when they decided to raise rates again and stated they were still on track and serious about another rate hike in 2017 either in ...

Gold is in a downtrend which started with a rejection of the major resistance at 1295 then after the FED rate hike a couple weeks ago, USD has been gaining strength and gold has been melting. Just some hours ago a flash crash on GOLD sent it lower nearly 200 pips in minutes.. This resulted in the counter trend pullback ending and downtrend continuation. The price ...

USD/JPY has still been in a ranging market structure between 111.000-111.800. Since the Fed rate hike a couple weeks ago UJ has found itself stuck between these prices, to me it looks like bullish consolidation based on the trendlines, EMA and double bottom pattern. Although I have a long bias on USD I dont know which way this pair will trade until we hear the ...

This is confluence for my analysis on Gold and USD/JPY. DXY showing signs of bullish P.A, some HL being created and large bullish candles plus USD fundamentals from last weeks rate hike and hawkish monetary policy statement has investors buying the greenback.

Based on my previous weeks trade idea on gold which stated a decrease in buying and increase in selling after strong rejection of the 1295 zone causing a trend change. This continued after the FED decided to raise rates as expected and kept their views on a 3rd rate hike this year despite weaker data, this statement was considered hawkish for the USD which ...

I see USD getting some buying pressure throughout this week.. based on my previous weeks trade idea it is still valid. Last week the FED decided to raise interest rates as expected, also the monetary policy statement given by chairwoman Janet Yellen was viewed by investors as hawkish comments as the FED said that they were still going on with expectations of ...

So far the downtrend has been continuing throughout 2017. This week something caught my eye, this was the closing of a previous unfilled gap and the bounce off a major support at 110.100. This set the first Higher High moving upwards but still remains below the major TL which it just tapped before moving away. The reason for the significance is for the upcoming ...

Since 2017 started USD has been bearish, causing Gold prices to rise. Now half way through the year will the trend change? We have a FED rate decision on Wednesday (JUNE 14) which could be the catalyst for a reversal or confirmed continuation. The FED is expected to raise rates but have shed doubts on further tightening this year based on the weaker data that has ...